Fancamp Exploration Ltd. Midwinter Update
VANCOUVER, Feb. 11, 2020 - Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSXV: FNC) wishes to report the following;The Company’s “Industrial Synergy Route”, a patent supported program directed at the material improvement of current industrial practice in the production of TiO2 feedstock, pigment and TiO2 metal powder is close to completion with respect to the patent stage. Discussions continue with potential users who have expressed great interest in the outcome of this value added process.
A fifteen hole drill program totalling 1000 meters has just been completed on the Company’s Harvey Hill copper prospect near Thetford Mines, Québec. Assays will be reported on receipt. In addition, the Property was subsequently flown by airborne magnetics which have indicated the presence of additional and as yet untested targets.
A 760 meter, six hole drilling program was completed on the Company’s Stoke VMS/Au property located southwest of Thetford Mines. Mineralized zones were noted including the so called “Jackson Gold Zone”; results will be reported when received.
Airborne magnetics were also flown over the Company’s recently optioned very large carbonatite complexes, west of Lac St. Jean, Québec, a.k.a. the Gouin targets. The complexity of these features is striking and very promising from an exploration point of view. Given their niobium and REE potential, they would be of great interest to current specialty metal industries.
The Company’s grassroots Parent Cu/Ni/PGM/Au property south of the Gouin targets, unexpectedly discovered this past summer in the course of regional prospecting efforts, was also flown by airborne magnetics which indicate the mineralization is contained in an intrusive unit of considerable lateral extent.
The newly defined drill targets on the large Heenan/Mallard gold properties, southwest of Timmins, Ontario, will be drilled on completion of further financing. Gold exploration in Virginia, U.S.A., continues with the development of very promising new targets.
Drilling is currently underway on the Company’s Mactaquac option project in New Brunswick, with Edge Exploration Inc. The MMI and magnetic signatures suggest an IOCG type target. Results will be reported on receipt.
Results from all of these programs will help refine plans for the upcoming field season which will include a number of recently staked and readily accessible Ni, Cu, PGM targets.
This news release was written by the Company’s QP, Jean Bernard, P.Geo.
About Fancamp Exploration Limited (TSXV: FNC)
Fancamp is a public company using a value added strategy based on the acquisition of potentially valuable assets, adding value through the selection process itself and subsequent development work, self-financed or otherwise, followed by disposition, proceeds from which, are used to finance the same process multiple times. The Company has an exceptional inventory of resource properties in Québec, Ontario and New Brunswick; commodities of interest include gold, rare earth elements, strategic metals, base metals, chromium, titanium, iron and silica. In addition, the Company has begun to build on the industrial possibilities inherent in dealing with some of these materials. The Company is a reporting issuer in British Colombia, Alberta, Ontario and Québec and its common shares are listed for trading on the TSX Venture Exchange under the symbol FNC.
For further information, please contact
Peter H. Smith PhD., P.Eng.(Ont) – President, 1-514-481-3172
Certain statements in this release are forward-looking statements which reflect the expectations of management. Forward-looking statements consist of statements that are not purely historical, including any statements regarding beliefs, plans, expectations or intentions regarding the future. Such statements include the proposed use of proceeds of the Second Tranche of the private placement and are subject to risks and uncertainties that may cause actual results, performance or developments to differ materially from those contained in the statements. No assurance can be given that any of the events anticipated by the forward-looking statements will occur or, if they do occur, what benefits the Company will obtain from them. These forward-looking statements reflect management’s current views and are based on certain expectations, estimates and assumptions which may prove to be incorrect.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
