Fancamp acquires two Au/VMS properties in Ontario

Jul 11, 2018

2018-07-11 08:07 ET – News Release

Dr. Peter Smith reports

FANCAMP ACQUIRES GRASSROOTS PROJECTS IN THE RIGHT NEIGHBOURHOOD

Fancamp Exploration Ltd. has acquired two grassroots gold/VMS properties in the Dryden area of Northwestern Ontario.

The Dorothy property is about 2,800 acres, consists of 70 claim units, and covers a series of highly anomalous gold, silver and copper lake bottom geochemical anomalies. The gold anomaly is the second highest in a very large (over 2,000 samples) survey and the silver was in the top 99th percentile. A concentration of porphyry intrusives occurs in the area cutting mafic volcanics. The area is also the focal point of two large fault controlled granite intrusives, making the area very interesting from a structural point of view. Teck has the claims to the east on Thunder Cloud Lake. New logging roads have now given easy access to the area. The company has acquired 100-per-cent interest in the property on the following terms: $12,500 on signing plus four payments of the same amount over four years plus 250,000 paid-up common shares of the company on regulatory approval. A 2-per-cent net smelter return royalty underlies the property of which 1 per cent can be purchased for $1-million.

The second property, known as the Cunningham, covers about 800 acres and 20 claim units. The area is in a copper-zinc environment where there are numerous showings associated with acid volcanics. The company has acquired a 100-per-cent interest on the following terms: $5,000 on signing plus four annual payments of the same plus 100,000 paid-up common shares of the company on regulatory approval. A 2-per-cent NSR royalty underlies the property of which 1 per cent can be purchased for $1-million.

These two properties together with the Heenan, Mallard and Woman River properties recently acquired in the Swayze area southwest of Timmins (see company news releases dated Jan. 17 and Feb. 20, 2018) are currently the subject of option negotiations with third parties. Exploration programs are being developed for the current season.

This news release was prepared by Dr. Peter H. Smith, PhD, PEng, the company’s qualified person.

About Fancamp Exploration Ltd.

Fancamp’s focus is on grassroots mineral exploration, adding value through prospecting, geophysics and drilling, and managing risk through sales and property option agreements. The company 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.

http://www.fancampexplorationltd.ca/