Fancamp Exploration Ltd. multiplies the area of its Cunningham VMS property by Five
TSX VENTURE: FNC
VANCOUVER, British Columbia, Jan. 25, 2019 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX VENTURE: FNC) wishes to announce that it has acquired a 100% interest in additional claims adjacent to its Cunningham VMS property, some 150 km SW of Timmins. These claims totaling some 4800 acres, cover the entire area surrounding the Isaiah granitic stock, which is marked by abundant intermediate to felsic volcanics, pyroclastics and exhalitic sediments. The Shunsby Showing patents adjoin the block on its east side, and given their strong VMS characteristics point to the possibility of similar occurrences yet to be discovered in this singular geologic framework. In addition, the Isaiah stock itself contains gold bearing breccias in shear zones, that are, in effect, unexamined.
Terms of the agreement total an aggregate payment of $15,000, 200,000 fully paid up Fancamp shares upon regulatory approval, plus a 2% NSR, with a buyback of 1% for $1M.
A VTEM survey, covering the entire property is planned for late February.
This news release is written by Peter H. Smith PhD, P.Eng., the Company’s qualified person.
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.
Peter H. Smith, President.
For further information, please contact
Peter H. Smith PhD., P.Eng.(Ont) – President 1-514-481-3172
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.