Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

April 25, 2008 08:30 ET

Fancamp Exploration Ltd.: McFauld's Lake Update

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 25, 2008) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The following is an update of the Company's activities at McFauld's Lake.

Extensive geophysical work has and is being carried out over the newly cut EW grid straddling the Fancamp/Noront boundary on the west side of the property. This work is aimed at further defining the AeroTem II conductors and magnetic results shown on the Company's news release of February 28, 2008. These magnetic results in particular show that these conductive zones, including the Eagle I discovery, are part of the same mineralized system and management believes that the untested conductors are in all probability similar to those tested at Eagle I.

Preliminary returns on the Fancamp side with pulse time domain EM, show sizeable and strong conductors at depths below 150 to 200 metres (beneath the depths recently drill tested by Noront on their reported AT I target immediately west of Fancamp's boundary). Ground magnetics, frequency domain EM and gravity surveys, currently being carried out, will further define these targets for a preliminary diamond drill program approximating 2,000 metres scheduled to begin, given the logistical problems of breakup, crew renewals and ongoing geophysics, in mid June.

The Company also participated in an airborne VTEM survey, recently carried out by Freewest Resources Canada Ltd. Parts of the Fancamp ground were covered by this survey which is notably more powerful and deeply penetrative than the AeroTem II. Only partial results are available as yet, but the Company can report strong conductors at depth beneath, at least, the NE sector of the very large, complex magnetic anomaly located in the northern part of the property, an anomaly which showed no conductivity on either the Geotem survey of 2003 or the AeroTem II survey of 2007. This new finding is of potentially immense significance, given its size and proximity, along the regional structural trend, to the Eagle I discovery itself.

ON BEHALF OF THE BOARD

Peter H. Smith, Ph.D., P.Eng., President

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

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

Contact Information

  • Fancamp Exploration Ltd.
    Peter H. Smith, Ph.D., P.Eng.
    President
    (514) 481-3172