Fancamp becomes founding member of BCMP

Dec 4, 2018

2018-12-03 15:06 ET – News Release

Dr. Peter Smith reports

FANCAMP’S INDUSTRIAL SYNERGY ROUTE ON TRACK

Pursuant to its industrial synergy route (ISR) efforts in the preparation of high-grade TiO2 (titanium dioxide) feedstock, Fancamp Exploration Ltd. has become a founding member of the Baie-Comeau Minerals Partnership (BCMP), a consortium dedicated to the development of an $800-million industrial complex at Baie-Comeau on Quebec’s North Shore, the initial memorandum of understanding of which was formally signed at Baie-Comeau on Nov. 29, 2018, with extensive media coverage. It is important to note here that it is rare for an industrial project in Quebec to be carried out in an agreed upon partnership with first nations and local communities from its very outset; a process that will greatly contribute to eventual social acceptability. Parties to this agreement comprise the following: Baie Comeau Minerals Inc., NSGI Steel Inc., Barlow Mine Inc., Fancamp Exploration, Innovation et Developpment Manicouagan (IDM), Ville de Baie-Comeau, Corp. de gestion du port de Baie-Comeau and Beijing Shougang International Engineering Technology Company Ltd.

The projects considered in this MOU include pig iron production with the NSGI and HiSmelt processes of approximately one million metric tonnes of pig iron per year and ilmenite concentrate of approximately 300,000 metric tonnes per year, together with an upgraded TiO2 concentrate for the chloride process of approximately 25,000 metric tonnes per year. It is important to note that preliminary assessments of the Nathalie deposit, a potential local source of magnetite and ilmenite, indicate a very low level of magnesium oxide, and therefore a high potential for integration into the process development of upgraded TiO2. It is intended in addition that members of the consortium have access to low-cost iron and ilmenite concentrate.

Fancamp has committed to invest a minimum of $20-million cash for an equivalent equity position in BCMP following completion of a successful feasibility study. These funds will be raised in a manner to be decided, partnerships being among the possibilities. Fancamp will in addition, through its current work on the ISR, oversee and contribute to the furtherance of green technologies in the production of upgraded TiO2 products.

About Fancamp Exploration Ltd.

Fancamp Exploration is a Canadian junior mineral exploration company. It continues to evolve into a holder of shares in partner companies together with royalties. The company has an exceptional inventory of resource properties in three provinces: Quebec, Ontario and New Brunswick. The commodities include gold, base metals, chromium, titanium and iron.

http://www.fancampexplorationltd.ca/