Fancamp demo plant to be hosted by COREM

Oct 23, 2017

2017-10-23 11:00 ET – News Release

Mr. Peter Smith reports

Fancamp Exploration Ltd. have released an update on the progress on the development of its demonstration plant project led by The Magpie Mines Inc., using the proprietary Magpie process. Following a number of exchanges in the past two months that included a meeting in early September with the SDTC delegation, consortium member COREM has recently confirmed its commitment to provide substantial in-kind contribution to the project, which includes demonstration plant hosting. Construction process has started on COREM’s building where the demo-plant is to be hosted. The building is scheduled to be ready by the end of April, 2018.

In other matters, the company wishes to note that current prospecting on its 100-per-cent-owned Lac Baude REE property, located some 70 kilometres NNW of Shawinigan, Que., has revealed significant rare earth elements in an allanite rich pegmatite/coarse grained red granite. The allanite crystals are very large, 15 by 10 by four centimetres, for example, and have been described as consisting locally up to 35 per cent of outcrop volume. In the late 1940s, forestry operations opened the area and the occurrence was staked by J.M. Yates who held it until about 1967. In 1951, a small bulk sample was extracted but because of insufficient development of uses for cerium and questions of recovery methodology, nothing further was carried out. No subsequent work has been recorded. Recent grab samples taken by the company have returned up to a total of 9.53 per cent of light rare earth oxides with associated Yttrium oxide values of 0.25 per cent. This occurrence, which was discovered about 1893 and presented in a report by R.W. Ells of the Geological Survey of Canada and submitted to its director G.M. Dawson in December, 1898, can probably be described as one of the earliest references to such mineralization in Canada’s geological literature. It is notable that the property is readily accessible; mapping and prospecting are ongoing.

Discussions with potential major users are ongoing with the company’s Risborough and Amqui (Gaspe Group) silica properties.

This news release was prepared by the company’s qualified person, Jean Bernard, PGeo, Peter Smith, President

About Fancamp Exploration Ltd.

Fancamp is a Canadian exploration company founded in 1986. It has always been involved primarily in 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/