Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

March 26, 2015 08:45 ET

Fancamp Exploration Ltd.: Drill Program Demonstrates High Grade Gold Vein Continuity on the Gaspe Bay Group Property (Robidoux) in Western Gaspe

VANCOUVER, BRITISH COLUMBIA--(Marketwired - March 26, 2015) - Fancamp Exploration Ltd. ("Fancamp") (TSX VENTURE:FNC) wishes to report results from the drilling program completed in December, 2014. As mentioned in the news release of December 23, 2014 the program tested the "A Zone" vein to vertical depths of 35 to 155 metres, and also tested a splay fault hosting a feeder vein system to the A Zone, to vertical depths of 30 to 70 metres. Analytical results have been completed for the nine drill holes that comprised the phase 1 drilling program completed on December 10th, 2014. Results are summarized in the following table; metallic sieve assay methods were used given the profound nugget effect.

Drill Hole #
Au total
Au +
Au -
RBD-14-02 76 78.5 2.5 2.406 2.496 2.398
including 76 76.5 0.5 7.72 7.24 7.75
RBD-14-03 154 155 1.0 0.84 5.67 0.75
RBD-14-04 42.5 43.5 1.0 4.07 6.64 3.78
including 43.0 43.5 0.5 7.81 12.05 7.27
RBD-14-05 19.2 20.2 1.0 7.85 9.72 7.65
RBD-14-06 45.0 46.1 1.1 2.10 3.875 1.962
RBD-14-07 25 39 14.0 0.737 1.092 0.713
including 25.0 28.5 3.5 1.50 1.885 1.474
RBD-14-08 11.0 12.0 1.0 5.36 5.21 5.37
RBD-14-08 22.9 26.0 3.1 0.40 0.463 0.403
RBD-14-09 75.5 76.0 0.5 0.80 8.33 0.10
RBD-14-09 89.5 90 0.5 0.54 5.43 0.09

On the A Zone quartz vein, which at surface varies in width from 10 cm to 3.1 metres (see the news release of Oct.22, 2014 for results of channel sampling program), drill holes RBD-14-01, 02, 03, 04 and 05 were drilled across the width of the vein to test its extensions to the north and at depths to 130 metres. The vein was tested over a strike length of about 50 metres. Drill Hole RBD-14-01 did not hit the quartz vein due to a fault.

Drill hole RBD-14-02 was drilled toward the southern end of the A Zone vein where the surface exposure of the vein at this section was 0.6 metres wide. This hole intersected the down-dip extension of the quartz vein at a depth of 75.6 m, (50 m vertical depth). A 2.5 metre interval gave a weighted average grade of 2.4 gpt Au, within which was a 0.5 m sample grading 7.24 gpt Au. The width of the vein in this hole suggested that the vein widens with depth. Drill hole RBD-14-03 was drilled below drill hole 02 to test the down-dip extension at a vertical depth of 125 metres. A narrow vein was encountered and a 1 m sample gave a weighted average from the two size fractions of 0.84 gpt Au, with the coarse fraction grading 5.67 gpt Au. Drill holes RBD-14-04 & 05 were located to test the down-dip extension of the widest, and highest grade portions of the A Zone vein exposed by trenching and bulk sampling. Drill holes 04 and 05 intersected the quartz vein at vertical depths of 30 m and 10 m respectively, along the same section. Drill holes RBD-14-06, 07, 08 and 09 tested the splay fault which cuts the north end of the A Zone quartz vein. This fault coincides with an east-northeast trending gold and arsenic soil anomaly that can be traced at least 800 metres; 200 metres east of RBD-14-07 and 08, a grab sample from the fault gouge ran 7.8 gpt Au.

All drill core samples were analyzed using metallic sieve method to minimize the nugget effect (Au-SCR21): two size fractions of <100 microns and >100 microns were analyzed after screening to yield a weighted average grade (Au total ppm) for each sample based proportionately on the weight of each fraction.

The Grand Pabos-Restigouche fault system and associated splay structures remain the focus of Fancamp's exploration efforts from the Quebec Gaspé to Northwestern New Brunswick. There is compelling evidence to suggest that Fancamp's Northwest property in New Brunswick and the Robidoux property in the Gaspé, as well as newly staked properties along the structure, (Harriman and Ste-Marguerite) share similar geological characteristics and form part of an extensive regional epithermal style gold mineralizing system of great potential.

In other matters, the Company is expanding its Gaspe Bay Group Property by staking. The first of these is the Harrimann, covering some 12 kilometres of the Harrimann fault, a splay of the Grand Pabos fault system. At least five historic gold showings, associated with vein stockworks, granite/aplite intrusions and breccias are to be found along this structure. These were first noted in the nineties but remarkably, no drilling or trenching has ever been reported. One of the showings, for example, consists of a 300 by 700 metre boulder field of metric size angular blocks of altered and brecciated felsic intrusives and sediments mineralized with Cu, Zn and Sb sulphides, plus visible gold, is found near the fault and may be related to a small porphyry plug. Five grab samples from this material were reported to grade 7.6, 9.8, 10.0, 19.3 and 34 g/t Au.

The second property, here called the Ste. Marguerite, covers some ten kilometres within the Restigouche - Grand Pabos structural corridor (along the Ste-Florence Fault) along which some 12 historic gold showings have been reported in strongly altered basalts. Limited diamond drilling returned intervals, for example, of 2.9 g/t Au over 8.5 m and selected grab samples returning up to 38 grams Au have been reported from this unit.

A number of readily accessible grassroots gold prospects, again with historically interesting results have also been staked in the Chibougamau region of Abitibi. All these prospects will be tested in the upcoming field season by trenching, prospecting and targeted geophysics.

The Company also wishes to note current developments in the Ring of Fire, and the fact that KWG Resources Inc. has made its current option payment of $700,000 to Fancamp by the issuance of 35 million common shares of KWG at a deemed price of $0.02. KWG is obliged to spend another 2.1 million in exploration before September 30th 2015 in order to acquire a 50% interest in the property.

A 500 tonne bulk sample has been collected from the "A Zone" quartz vein. The sample is stockpiled and will be delivered to the custom mill for processing due to begin in late May, 2015.

This release was prepared by Messrs. Jean Bernard, P.Geo., and Mike Flanagan, P.Geo., Qualified Persons under NI 43-101 rules. Mike Flanagan (P.Geo.), Vice President of Exploration of the Company, is the non-independent qualified person who has approved the scientific and technical information contained in this news release. Both Mr. Bernard and Mr. Flanagan were directly involved with the Robidoux drilling program summarized in this release.

About Fancamp Exploration Ltd (

Fancamp Exploration Ltd. is a Canadian junior mineral exploration company that continues to evolve into a holder of shares in partner companies together with royalties. These assets enable the Company to generate free cash flow without further shareholder dilution. The Company has an exceptional inventory of resource projects at various stages of development in three provinces. The commodities include gold, base metals, chromium, titanium and iron.

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.

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

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