Fancamp - Grassroots Gold Exploration Update
TSX VENTURE: FNC
VANCOUVER, British Columbia, Dec. 17, 2018 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX VENTURE: FNC) is committed to drill a series of holes on newly defined targets in January and February of 2019 on properties in Quebec, New Brunswick and Ontario.
The first program is scheduled for mid-January on the optioned 1860 acre Brunswick North property in the Bathurst District of New Brunswick, where significant gold mineralization has been identified in angular volcanic float. Geophysics has resulted in strong IP anomalies which will be drill tested.
The second program will begin in late January on the 100% owned 30,000 acre Baie Verte Brompton (BVB) Property, in the Beauce, southern Quebec. It is located on the Baie Verte Brompton Line, a major crustal suture running through the central Appalachians from Vermont to Newfoundland and associated with many gold showings along its length. The BVB Property covers that part of the suture adjoining the historic Gilbert River placers, which in themselves can be considered to be one of the largest gold geochemical anomalies in eastern North America. Recent trenching by the Company, on a previously untested part of the property has produced grab samples from outcrop ranging up to 13.7g/t Au in pyritic schists, and subsequent geophysical work has indicated a number of significant IP anomalies.
The third program will be carried out in February on the 100% owned 10,000 acre Mallard Property in the Swayze area, southwest of Timmins, some 15 km northwest of the IAMGOLD Cote Lake Deposit. The principal target is 8.7 km (5.4 miles) of strike length of a lean pyritic iron formation carrying significant gold values and numerous untested historic IP anomalies.
In addition, the Company’s 100% owned 6,600 acre Dorothy Lake Property, south of Dryden, Ontario will be tested with IP over major shear zones associated with highly anomalous lake bottom sediment gold values. Recent prospecting has located anomalous gold values across the property.
Fancamp is a public company using a value added strategy predicated 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, 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, Ontario and Québec and its common shares are listed for trading on the TSX Venture Exchange under the symbol FNC.
This release has been written by the Company’s Qualified Persons, Jean Bernard P.Geo and Peter H. Smith PhD., P.Eng.(Ont.)
Peter H. Smith, President.
For further information, please contact
Peter H. Smith PhD., P.Eng.(Ont) – President 1-514-481-3172
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