Fancamp Announces Gold Placer Discovery Option; Promising Geochem Results from Bedrock Source Area, New Brunswick
VANCOUVER, British Columbia, Sept. 12, 2019 (GLOBE NEWSWIRE) — Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX VENTURE: FNC) is pleased to report selected results from soil samples taken this field season on its optioned 3,430 ha Mactaquac Property, belonging to Edge Exploration Inc., in southern New Brunswick (27/06/2019 NR).
It should be pointed out that the area is almost entirely overburden covered and is virtually unexplored. In particular, what is emerging is the recognition through the proprietary SGS mobile metal ion (MMI) multi-element analytic approach, of the existence of mineralized zones along at least a 2.5 km strike length, and open at both ends.
A 395-sample soil survey has been completed, of which to date, 139 MMI results have been received from SGS, the balance of 256 are awaited. This first batch includes anomalous gold numbers up to 148 times background at the north end of the zone (soil sample no. S223080719). Grubhoe pitting on this site yesterday uncovered gossanous material at a meter depth, yet to be assayed.
Antimony numbers up to 1,052 times background and gold 6 times background at this north end of the 2.5 km strike length (soil sample no. S231080719), lie 325 m southwest of the cited high gold sample and have yet to be pitted or trenched.
The southern end of this 2.5 km zone is the location of the historic Noranda Brunswick Mining and Smelting, 405 Au ppb soil sample (ref. Report of work 473638,1989). A 2018 survey by Messrs. Davis and Kramer noted prominent spikes in MMI Au and REE elements in proximity to the Noranda sample site, which started this undertaking in the first place. Backhoe trenching and drilling is planned.
A second prospective 4,818 ha gold project, the Fredericksburg – North Tay is centred some 30 km north of Mactaquac, along the trend of the underexplored Fundy – Chaleur structural corridor referred to in the 27/06/19 news release. This jointly staked grassroots property is a 50-50 joint venture between Fancamp and Edge and exploration is underway.
This news release was written by the Company’s QP, Peter H. Smith, PhD, P.Eng.
About Fancamp
Fancamp is a public Corporation 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 Corporation has an exceptional inventory of resource properties in Quebec, Ontario and New Brunswick; commodities of interest include gold, base metals, chromium, titanium, iron and silica. In addition, the Corporation has begun to build on the industrial possibilities inherent in dealing with some of these materials. The Corporation is a reporting issuer in British Colombia, Ontario and Quebec 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.
