Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

April 21, 2011 09:30 ET

Fancamp Drilling at McFaulds Lake Property, Ring of Fire, Northern Ontario-Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 21, 2011) - Fancamp Exploration Ltd. (TSX VENTURE:FNC) (the "Company") announces it's McFauld's Lake drilling programme continues. Deep drilling has been focused on the C-1 target using the working hypothesis that Noront's Eagles Nest deposit is a left lateral displacement from the C-1 ultrabasic intrusion itself along a NW trending fault system. For this reason Hole FN-10-25 has been drilled to depth (-80 degrees at 220 azimuth) in a SW direction to intercept this system. This hole has now been completed to a total depth of 1,082.3 metres, with the unexpected intersection of high grade chromite at a depth of 838.5 metres to 1048.3 metres down hole. The thickness, strike and dip of this chromite layer remain to be determined, as well as its extensions toward the surface, but the roughly 200 metres of vertical extent of this intersection along with an estimated average grade of 43.5% Cr2O3 and a chrome to iron ratio of 2.09 warrant further exploration. The grade and Cr/Fe ratio is comparable to figures published by KWG for the Big Daddy deposit next door. The average grade is based on 35 samples of 1 metre core sample length, taken at regular intervals of 6 metres throughout the entire 209.8m length of the intersection. Core angle measurements on contacts and rare layers within the chromite vary from 8 to 20 degrees and suggest that the drill hole followed the layer down, nearly parallel to its strike before crossing into altered, foliated, talc rich peridotite.

The intersection corresponds to a strong, broad gravity anomaly which suggests that the chromite does occur closer to surface and may have a strike length of at least 300m.

A Crone borehole EM survey is planned for this hole in mid-April followed by a third deep drill hole to continue to test the potential for massive nickel rich sulphides at depths below 600 metres.

Mike Flanagan, M.Sc.A., P.Geo. is the Qualified Person on the Fancamp McFaulds Lake property and is responsible for the preparation of this news release.

ON BEHALF OF THE BOARD

Peter H. Smith, PhD., P.Eng., President

S.E.C. Exemption: 12(g)3-2(b)

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contact Information

  • Fancamp Exploration Ltd.
    Peter H. Smith, PhD., P.Eng.
    President
    514-481-3172
    www.fancampexplorationltd.ca

    Bay Street Connect Investor Relations
    Michael D'Amico
    647-500-6023