Fancamp identifies possible mineralized 400 meters of unexplored copper and precious metal continuity between its Harvey Hill prospect and Foy occurrence: The Company Announces second drilling program for 2022
February 03 2022 - 8:30AM
Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX
Venture Exchange: FNC) is pleased announce a 2,000-meter drill
program scheduled to take place in March this year on its Harvey
Hill exploration project (Figure1).
Fancamp and MIRA Geoscience have completed
construction of a 3D model of the Harvey Hill project. The 3D model
suggests that the mineralized lenses are associated with overturned
hinge fold (Figure 2). Drilling will aim at two objectives:
potential thickening of the mineralized horizon in the hinge fold
and the possibility of extension of the copper mineralization from
Harvey Hill towards the Foy Zone situated about 400 metres NW,
where copper gold mineralization has been described, including
10.1% Cu, 3.16g/t Au, 11.6g/t Ag, 0.12% Zn, 0.2% Ni, 0.32% Cr,
175ppm Co (MB 88-21)from selected grab samples taken in proximity
of the abandoned exploration shaft (MB 88-22).
The 2022 drill program will also follow up on
the 80-hole 2019-2020 drill programs. The best drill hole intersect
was in hole DDH HH19-26 which intersected 1.77% Cu over 9.0 metres
at 120 metres down hole. This intersection is postulated to be
situated mid distance between the Foy zone and the Harvey Hill main
mineralized zone.
The Corporation’s Harvey Hill project is a past
producing, copper and precious metal bearing project, with
excellent road access, located about 20 km NE of the town of
Thetford Mines in the Québec Appalachian (Figure 1). The mine was
discovered in the mid-1800’s and operated intermittently until its
final closure in the mid 1980’s. Past production is reported at
450kt of 1.22% Cu and 2.8 gpt Ag between 1973 and 1976, not
including a small amount of production between 1858 and 1903 (MERN
DV 85-08). In addition to Harvey Hill, base metal occurrences are
recorded at Foy (400m WNW of Harvey Hill) and Nutbrown (1km WNW of
Harvey Hill) on the Fancamp property.
The area of Harvey Hill is underlain by argillic
sedimentary rocks, intermediate to mafic volcanic rocks, and talc
schist of the Humber zone in the Quebec Appalachians. Three zones
of Cu+Ag mineralization occur within strongly carbonate + sericitic
altered argillic schists, with quartz veins and veinlets.
Chalcocite, chalcopyrite, and bornite are noted in mineralized
intervals.
Qualified Person
The scientific and technical information
contained in this press release was reviewed and approved by
François Auclair, PGeo, M.Sc. Vice President Exploration of
Fancamp, designated as a Qualified Person under National Instrument
43-101.
Quality Control
Assays for the diamond drill programs were
analyzed by Activation Laboratories Ltd. in Ancaster, Ontario. The
Corporation inserts quality control samples (blanks, standard
reference material, and duplicates) at regular intervals to monitor
laboratory performance. Standard samples are inserted every 15-20
samples, with additional standard material added to mineralized
zones. Reference samples are obtained from OREAS (Ore Research and
Exploration P/L ABN) and comprised OREAS 620 (0.173% Cu), and OREAS
624 (3.10% Cu). Blanks are inserted every 15-20 samples and are
obtained from a deposit of pure quartzite. Field duplicates are
inserted every 20 samples.
About Fancamp Exploration Ltd. (TSX-V:
FNC)Fancamp is a growing Canadian mineral exploration
corporation dedicated to its value-added strategy of advancing its
priority mineral properties through exploration and innovative
development. The Corporation owns numerous mineral resource
properties in Quebec, Ontario and New Brunswick, including
chromium, strategic rare-earth metals, gold, zinc, titanium and
more. Fancamp’s chromium properties in the highly sought-after Ring
of Fire in Northern Ontario are strategically located. Its rare
earth element properties in Quebec are a special focus. Fancamp has
investments in an existing iron ore operation in the
Quebec-Labrador Trough, in addition to an investment in a zinc mine
planned to be restarted in Nova Scotia. Fancamp is developing
energy reduction technology with its advanced Titanium extraction
strategy. The Corporation is managed by a focused leadership team
with decades of mining, exploration and complementary technology
experience.
Forward-looking Statements
This news release contains certain
“forward-looking statements” or “forward-looking information”
(collectively referred to herein as “forward-looking statements”)
within the meaning of applicable securities legislation. Such
forward-looking statements include, without limitation, forecasts,
estimates, expectations and objectives for future operations that
are subject to a number of assumptions, risks and uncertainties,
many of which are beyond the control of the Corporation.
Forward-looking statements are statements that are not historical
facts and are generally, but not always, identified by the words
“expects,” “plans,” “anticipates,” “believes,” “intends,”
“estimates,” “projects,” “potential” and similar expressions, or
are events or conditions that “will,” “would,” “may,” “could” or
“should” occur or be achieved.
Although Fancamp believes that the material
factors, expectations and assumptions informing such
forward-looking statements are reasonable based on information
available to it on the date such statements were made, no
assurances can be given as to future results of such
statements.
Such forward-looking statements involve known
and unknown risks, uncertainties and other factors that may cause
actual events to differ materially from those anticipated in such
forward-looking statements.
Readers are cautioned that the foregoing list of
factors is not exhaustive. Statements including forward-looking
statements are made as of the date they are given and, except as
required by applicable securities laws, Fancamp disclaims any
intention or obligation to publicly update or revise any
forward-looking statements, whether as a result of new information,
future events or otherwise. The forward-looking statements
contained in this news release are expressly qualified by this
cautionary statement.
For Further Information
Rajesh Sharma, President
& Chief Executive Officer+1 (604) 434
8829info@fancamp.ca |
Debra Chapman, Chief
Financial Officer+1 (604) 434 8829info@fancamp.ca |
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.Photos accompanying this announcement
are available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/2f63c292-0446-45ff-9523-305fdf909775
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