In this InvestorIntel interview, Tracy Weslosky talks with Fjordland Exploration Inc.’s (TSXV: FEX) CEO, President, and Director Jamie Tuer about the opportunity for it to focus on its South Voisey’s Bay (SVB) nickel project in Labrador now that Ivanhoe Electric (TSX: IE | NYSE American: IE) has dropped its investment agreement.

The SVB project has had $30 to $40 million invested in it over the years and, with nickel in high demand for the batteries in electric vehicles (EVs), Jamie explains how this could be an opportunity for Fjordland to attract a partner that is interested in developing nickel, which he said is “hot right now.”

Jamie also discusses the potential for graphite at their Renzy Nickel Copper project in Quebec. Fjordland has sent some previous drill core sample to SGS Canada’s lab in Lakefield, Ontario for analysis. He mentions the high-quality nature of the graphite mineralization and that it could be suitable for use in lithium-ion batteries for EVs.

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About Fjordland Exploration Inc.

Fjordland Exploration Inc. is a mineral exploration company that is focused on the discovery of large-scale economic metal deposits in Canada.

In collaboration with Commander Resources Ltd., Fjordland is exploring the SVB “Pants Lake Intrusive” target which is in a geologic setting analogous to the nearby nickel-cobalt-copper Voisey’s Bay deposit. Fjordland has earned a 75% interest in the project.

Fjordland also owns a 100% interest in the Renzy nickel project located near Maniwaki, Quebec. The project encompasses the former Renzy Mine where, during the period from 1969 to 1972, 716,000 short tons were mined with average grades of 0.70% nickel and 0.72% copper. Fjordland has staked additional claims to increase the size of the project to 530 sq. km.

As well, Fjordland has two copper-gold properties in the Quesnel Trough of central British Columbia, The West Milligan copper-gold project is a joint venture with Northwest Copper Corp. located within 4 km of Centerra’s Mount Milligan copper-gold mine. The 103 sq. km. Witch copper-gold project is located another 35 km west of the Milligan mine.

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Disclaimer: Fjordland Exploration Inc. is an advertorial member of InvestorIntel Corp.

This interview, which was produced by InvestorIntel Corp., (IIC), does not contain, nor does it purport to contain, a summary of all the material information concerning the “Company” being interviewed. IIC offers no representations or warranties that any of the information contained in this interview is accurate or complete.

This presentation may contain “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking statements are based on the opinions and assumptions of the management of the Company as of the date made. They are inherently susceptible to uncertainty and other factors that could cause actual events/results to differ materially from these forward-looking statements. Additional risks and uncertainties, including those that the Company does not know about now or that it currently deems immaterial, may also adversely affect the Company’s business or any investment therein.

Any projections given are principally intended for use as objectives and are not intended, and should not be taken, as assurances that the projected results will be obtained by the Company. The assumptions used may not prove to be accurate and a potential decline in the Company’s financial condition or results of operations may negatively impact the value of its securities. Prospective investors are urged to review the Company’s profile on Sedar.com and to carry out independent investigations in order to determine their interest in investing in the Company.

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I keep coming back to a recurring theme of micro-cap mining stocks with leverage to drilling results. In an overall market that continues to get battered on a regular basis, I find these could provide a beacon of opportunity. After all, they’re already so cheap that it’s hard for them to go down much further, but if they hit anything of significance it’s possible they could rise materially. Almost a free option for investors. Of course, the flip side is if the company has no success with its drilling program, they would have to try and raise new equity in what is likely a very challenging environment, if anyone is even willing to provide any funding at all. Additionally, new equity in a tough market can also be very dilutive as those friendly Investment Bankers, who always claim to be looking out for your best interest, put the screws to you because they can. This isn’t intended to be a slam against I-Bankers, it’s simply the way of the capital markets.

Regardless of how fair the markets may or may not be, let’s look at what opportunities might be lurking out there at present. Today we’re going to discuss a company that recently raised some cash, has a very deep-pocketed JV partner, is just finishing one drill program and is about to start another. That company is Fjordland Exploration Inc. (TSXV: FEX), a mineral exploration company that is focused on the discovery of large-scale economic metal deposits in Canada. In collaboration with Ivanhoe Electric Inc. (TSX: IE | NYSE American: IE) and Commander Resources Ltd., Fjordland is exploring the South Voisey’s Bay (SBV) “Pants Lake Intrusive” target which is in a geologic setting analogous to the nearby nickel-cobalt-copper Voisey’s Bay deposit. Fjordland is the operator of the Renzy nickel project located near Maniwaki, Quebec which encompasses the former Renzy Mine where, during the period from 1969 to 1972, 716,000 short tons were mined with average grades of 0.70% nickel and 0.72% copper. As well, Fjordland has 2 copper-gold properties in the Quesnel Trough of central British Columbia.

That’s a pretty broad and diversified set of assets for such a small company. However, we’re going to focus on only two of them today, simply because that’s where the drills are turning. Starting with the Renzy nickel-copper project where the Company has an agreement to acquire 100% of the project from Quebec Precious Metals Corporation but has also staked additional claims to increase the size of the project to 530 sq. km. In March, Fjordland announced a fully-funded C$1 million drilling program planning a minimum of 2,500 meters. A 2021 heliborne VTEM geophysical survey generated a number of drill targets near the original Renzy mine and further to the south in an area where no prior surveys or drilling have occurred. The program was expected to be completed by the end of Q2 2022, meaning we can start anticipating results barring any undisclosed setbacks in the field.

The other, and perhaps more intriguing of the two, is the Company’s South Voisey’s Bay asset. Located 80 kilometres south of the Voisey’s Bay nickel, copper, and cobalt mine, the SVB Property is 29,400 Hectares (29.4 Sq.Km) in size. Fjordland entered into a Joint Venture with Commander Resources, which was amended in June 2017 to increase its ability to earn up to 100% in SVB, subject to a 2% net smelter royalty. Subsequently, Fjordland reached an agreement with Robert Friedland’s Ivanhoe Electric (IE) to fund the SVB exploration commitments in return for earning 65% in the project. Ivanhoe Electric also purchased shares in the Company which currently stands at roughly 17% of the shares outstanding.

Last week the Company announced that in conjunction with IE, and Commander Resources, the Company is preparing for a summer drill program on the South Voisey’s Bay nickel project. For the 2022 field season, IE has committed to a maximum 2,500m drill program. This represents the first drill program in the area since 2018. 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.

Fjordland raised C$900 k in April which should give the Company plenty of breathing room given the SVB summer drilling program is funded by Ivanhoe Energy. That should provide shareholders comfort to await all the drilling results that will be coming out over the next weeks and months. And the best part is, all this opportunity comes with a market cap of roughly C$5.5 million. That’s about as close to a free option as an investor is going to get.