Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

March 01, 2011 06:30 ET

Fancamp Exploration Ltd.: Fermont JV Resource Estimate/Lac Lamelee Drill Program

VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 1, 2011) - Fancamp Exploration Ltd. (TSX VENTURE:FNC) (the "Company") reports that results of an initial 43-101 compliant mineral resource estimate for the Harvey-Tuttle project has been released by Champion Minerals Inc. The total inferred mineral resources is estimated at 717 million tonnes grading 25.0 percent total iron at a 20 percent cut-off and 947 million tonnes grading 23.2 percent total iron at a 15 percent cut-off. Three of the Cluster 2 Fermont Properties, Fire Lake North, Bellechasse and Harvey-Tuttle, now contain a total 43-101 compliant inferred mineral resource of over 1.5 billion tonnes grading 25.4 percent iron. Fancamp holds a 17.5% working interest, with a 1.5% NSR, in these 3 properties in addition to 15 others.

A 60,000 metre drilling campaign planned for 2011 on the Fermont Properties has been outlined by Champion Minerals Inc., the operator. This drill program includes 12,500 metres of diamond drilling at Harvey-Tuttle to extend and delineate the known higher-grade areas. Fancamp will fund its proportionate interest in this program.

Permit applications have been submitted for Fancamp's 100% owned Lac Lamelee iron property for a drill program scheduled for the start of the field season at the end of June. Ground magnetic and gravity surveys are to start immediately. The accompanying airborne magnetic map provides an overview of the deposits in the immediate vicinity of Lac Lamelee.

ON BEHALF OF THE BOARD

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

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

To view the map associated with this press release, please click on the following link: http://media3.marketwire.com/docs/fnc228.jpg

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
    or
    Bay Street Connect
    Michael D'Amico
    Investor Relations
    647-500-6023
    www.fancampexplorationltd.ca