U.S. Markets close in 1 hr 15 mins

Fancamp Update on Exploration – Mallard Gold, Dorothy Lake, and Cunningham Properties, Northern Ontario

VANCOUVER, British Columbia, May 15, 2019 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX VENTURE: FNC) has completed its previously announced Phase 1 diamond drilling program on the Mallard Gold Property, located 15 km west of IAMGOLD’s Coté Lake Deposit.  The program targeted a series of untested induced polarization (IP), magnetic, and geochemical anomalies that were generated from a prospecting program completed last fall.   

During the month of March, Fancamp completed 10 diamond drill holes totaling 1,464 m.  The program confirmed the presence of a significant southeast to northwest trending deformation zone extending through the Property, herein termed the Mallard Structural Zone (“MSZ”).  The MSZ hosts several shear zones, quartz veins, and related gold occurrences over a strike length of approximately 6 km, indicative of a mineralizing event associated with this structure.

The Phase 1 diamond drilling program intersected anomalous gold mineralization within most drill holes.  Drill hole MA19-06 intersected 1.39 g/t Au over 0.38 m associated with quartz veining and sulphide mineralization proximal to a felsic dyke.  Drill hole MA19-07 intersected strongly altered metasediments that returned anomalous gold values over a sample length of 17.00 m, including 4.61 g/t Au over 0.24 m. Drill hole MA19-08 intersected a low angle 15 cm wide quartz vein that returned 6.32 g/t Au over a sample length of 0.40 m located within an 11.3 m wide zone of strong pervasive silicification and quartz veining. 

The significant results for the Phase 1 diamond drilling program are summarized below in Tables 1 and 2. 

Table 1: Summary of Diamond Drill Results

DDH From (m) To (m) Core
length (m)
Au (g/t) Cu
MA19-02 43.54 48.30 4.76 0.17 130 4 30
MA19-05 79.00 89.00 10.00 0.16 151 12 331
MA19-06 90.75 91.13 0.38 1.39 138 10 67
MA19-07 96.00 113.00 17.00 0.14 5 7 27
Incl. 112.64 112.88 0.24 4.61 - - -
MA19-08 16.90 17.30 0.40 6.32 4 1 31

Note: Intervals reported in Table 1 represent core lengths and not true widths.

Table 2: Drill hole Collar Information

DDH Easting Northing Azimuth Dip
MA19-01 403406 5285940 40 -45
MA19-02 403327 5285979 40 -45
MA19-03 403387 5285916 40 -45
MA19-04 405405 5284490 40 -45
MA19-05 405250 5283952 40 -45
MA19-06 403396 5285809 40 -45
MA19-07 404551 5283612 40 -45
MA19-08 403110 5285266 40 -45
MA19-09 403254 5285114 40 -45
MA19-10 403393 5284978 40 -45

QA/QC Program

Fancamp Exploration Ltd. has implemented a quality assurance/quality control (QA/QC) program for the Mallard Gold Phase 1 drill program.

Diamond drill core was logged, and where marked for sampling, cut in half, with one half placed in a labelled sample bag, and the remaining half placed back into the core tray and stored in a secured compound. A blank and a standard were inserted in the assay sampling sequence at every 26th and 27th place respectively.  All samples were shipped to Activation Laboratories in Ancaster, Ontario. Once the samples are received and dried at the laboratory, the samples are then crushed to 80% passing 10 mesh (2 mm) and then split into 250 g sub-sample size using a Jones Riffle Splitter. These sub-samples are then pulverized (using rings and pucks to 90% passing 200 mesh (0.075 mm) and homogenized prior to analysis. Gold analysis is performed using a 30 g charge by fire assay using lead collection with a silver inquart (1A2 package). The lower detection limit is 5 ppb, and the upper detection limit is 5000 ppb for this analysis.  A gravimetric finish (1A3 package) is completed for any samples that return greater than 5000 ppb that includes crushing of the entire sample to -150 mesh and subsequently sieved through a 150 mesh screen. The entire +150 mesh portion is assayed, along with two duplicate cuts of the -150 mesh portion. Results are reported as a calculated weighted average of gold in the entire sample.  Results for the 38 element ICP analysis (1E3 package) includes digesting 0.5 g of the sample with aqua regia for 2 hours at 95 °C.  The sample is cooled and then diluted with deionized water. The samples are then analyzed using an Agilent 700 series ICP for the 38 element suite.  QC for the digestion is 15% for each batch, 2 method reagent blanks, 6 in-house controls, 8 sample duplicates and 5 certified reference materials. An additional 20% QC is performed as part of the instrumental analysis to ensure quality in the areas of instrumental drift. If over limits for base metals are encountered, a sodium peroxide fusion, acid dissolution followed by ICP‐OES is completed.

Cunningham and Dorothy Lake Property Updates

In addition to the exploration program completed at the Mallard Gold Property, Fancamp has completed winter exploration programs on Cunningham and Dorothy Lake Properties.  On the Cunningham Property, a 396.5 line km VTEM survey has been completed.  Final results will be made available to Fancamp within the next few weeks by Geotech Ltd.  Results, after being interpreted, will assist in developing prospecting and geochemical surveys for the upcoming field season.  On the Dorothy Lake Property, 23 km of line cutting, followed by 15 km of IP and magnetic surveys has been completed in March.  Several chargeability anomalies have been identified associated with an interpreted regional north-northeast trending deformation zone.  Within this interpreted deformation zone, highly anomalous gold, silver, and copper lake bottom geochemical anomalies have been reported by the Ontario Geological Survey (Open File Report 6194)

This news release was written by the Company’s Qualified Persons; Peter H. Smith, PhD, P.Eng. and Joerg Kleinboeck, P.Geo. Blaine Webster, P.Geo contributed significantly to the design of the exploration process.

About Fancamp
Fancamp is a public company 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 Company has an exceptional inventory of resource properties in Québec, Ontario and New Brunswick; commodities of interest include gold, base metals, chromium, titanium, iron and silica. In addition, the Company has begun to build on the industrial possibilities inherent in dealing with some of these materials. The Company is a reporting issuer in British Colombia, Ontario and Québec 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.