- Fjordland Exploration Inc. (FEX) is preparing for a summer drill program
- The drilling will take place at the South Voisey’s Bay nickel project in Labrador
- Ivanhoe Electric must spend C$5 million on exploration by October 31, 2024, to earn its 65 per cent interest in the project
- Ivanhoe has committed to a maximum 2,500m drill program for the 2022 field season
- The South Voisey’s Bay Pants Lake Intrusive has the potential for hosting a massive sulphide nickel deposit similar to the Voisey’s Bay deposit
- Shares of Fjordland are up 60 per cent to close at $0.08.
Fjordland Exploration (FEX) is preparing for a summer drill program on its South Voisey’s Bay nickel project in Labrador.
“Planning for this year’s drill program at South Voisey’s Bay is well underway. All permits are in process and expected to be in place by the end of July when mobilization into the field will begin. The drill and helicopter contracts should be completed in a few days. This represents the first drill program in the area since 2018,” James Tuer, Fjordland’s CEO, said in a press release.
“Potential targets to be tested have been derived from extensive processing of historical and recent geophysical data including a significant property-wide gravity inversion study and the recently completed SQUID EM survey performed in 2021”.
By October 31, 2024 Ivanhoe Electric is required to spend C$5 million on exploration in order to earn its 65 per cent interest in the property. For the 2022 field season, Ivanhoe has also committed to a maxium 2,500m drill program.
The property, located 75km south of Vale’s high-grade Voisey’s Bay nickel mine, the South Voisey’s Bay Pants Lake Intrusive, has the potential to host a massive sulphide nickel deposit on par with the Voisey’s Bay deposit.
The company said the goal o the summer drill program will be to locate conduits within the SVB system where nickel-bearing magma has flowed back into structural traps and accumulated into economic volumes.
Fjorland Exploration is a mineral exploration company focused on discovering large-scale economic metal deposits across Canada.
Together with Ivanhoe Electric Inc. and Commander Resources Ltd., Fjordland is exploring the SVB “Pants Lake Intrusive” target that is in a geological setting similar to the nearby nickel-cobalt-coper Voisey’s Bay deposit.
Shares of Fjordland Exploration rose 60 per cent to close the trading session at C$0.08.