Fancamp Exploration Ltd.

Fancamp Exploration Ltd.

January 16, 2013 09:30 ET

Fancamp Reports Unpublished Results on the Recently Acquired Namex Property From the Clinton Copper-Zinc Project, Eastern Townships (Quebec)

Fancamp also reports on its 2010-2012 early-stage exploration work at Clinton

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 16, 2013) - Fancamp Exploration Ltd. ("Fancamp" or the "Company") (TSX VENTURE:FNC) wishes to report important drill hole assay results based on the just completed compilation-synthesis of historic unpublished information from the recently acquired Namex Property ("Namex") in the Clinton volcano-sedimentary belt located in the Eastern Townships of southern Quebec near the Maine border (refer to the Fancamp news release dated July 16, 2012).

With the acquisition of the Namex ground, Fancamp consolidates its position in the Clinton volcano-sedimentary belt, now covering a 17-kilometre continuous strike length under the Clinton Copper-Zinc Project (the "Project") from the United States border to the northern tip of the belt near Lac-Megantic (Quebec). It also adds the last historical mineralized zone Fancamp did not own in the belt, the Clinton "C Zone", hosting historic resources of 361,000 tons at 1.77% Copper and 0.64% Zinc. With this latest acquisition, Fancamp now holds a total historic mineral resources estimated at 1.52 million tons grading 2.08% Copper and 1.54% Zinc in five zones: A, C, E, F and O (MRNFQ Fiche de Gîte 21E07-0007). In 1973, 122,251 tons of material grading 2.65% Copper, 2.43% Zinc, 0.46% Lead, 30.03 g/t Silver and 0.45 g/t Gold were mined from the "O Zone" (Groupe Minier Sullivan, 1973 Annual Report).

These historic resource estimates were generated prior to the implementation of National Instrument ("NI") 43-101 standards. Given the quality of the work prepared by the MRNFQ and the Groupe Minier Sullivan, the company believes the resource estimates to be both relevant and reliable. However, a qualified person has not completed sufficient work to classify the historic mineral resources as current mineral resources, and is not treating the historic resources as current. Hence, they should not be relied upon.

Fancamp has also acquired an extensive data package from Namex, which includes unfiled and unstudied drill hole information and geophysics on the Clinton "V Zone", a mineralized zone discovered by Namex and OT Mining Corp. in 1996 (separate from the Clinton "C Zone"). In addition, results from 10 historic drill holes located on the "V Zone" and drilled in 1997 as a follow-up of the discovery of the zone in 1996 have reported wide intersections of higher grade copper and zinc mineralization. The most significant results stated in the report "Clinton Property Exploration Program, Eastern Townships Area, Quebec, by Namex Explorations Inc., GeoConseil Marcel Vallée Inc., June 2001", were:

  • 1.26% Copper and 1.37% Zinc over 32.2 meters (drill hole V-97-11)
  • 1.31% Copper over 26.9 meters (drill hole V-96-08)

According to geological sections accompanying the report, true thickness represents approximately 80% to 85% of the down-hole length intersections.

The mineralization was tested over a strike length of 250 meters and a depth of 200 meters to 250 meters by 17 drill holes. The zone appears wide open at depth and on-strike. The "V Zone" had no reported historical resources with only the first 7 drill holes were previously reported and filed at the MRNFQ. This new information brings a new insight into the potential of the zone.

2010-2012 Exploration Work by Fancamp on the Clinton Copper-Zinc Project

In 2010, Fancamp focused its exploration work at the southern end of the Project where work by Noranda in the 1980's had detected boulders of massive sulphides. Fancamp completed an airborne Electromagnetic survey or VTEM survey covering 1,095 line-kilometers which detected all the previously known sulphide zones and a number of new conductors along two conductive bands. This was followed by ground geophysics consisting of 3.2 kilometers of MAXMIN-EM and a gravity survey of 1.5 kilometers, and 4 diamond drill holes totaling 654 meters (refer to the appended diamond drill hole statistics and Quality Assurance / Quality Control protocols).

Drill hole CL-2010-01 cut felsic volcanic tuffs locally containing 10-15% sulphides with minor disseminated sphalerite. The best assay interval yielded 0.87% Zinc over 3 meters. Drill hole CL-2010-02 was drilled underneath the first hole and intersected minor anomalous intervals of Zinc. Drill holes CL-2010-03 and CL-2010-04 drilled a parallel conductor but without intersecting values of interest. Each drill hole contained conductive argillites. The gravity survey was done over the first two drill holes parallel to the conductor but did not yield any favorable results.

In 2011, Fancamp cut 32 kilometers of grid line and completed a ground UTEM survey over the grid area. This was followed by 12 holes for 2,255 meters of diamond drilling on the "D" and "V" zones (refer to the appended diamond drill hole statistics), and the UTEM conductor. Drill holes CL-2011-01 to 06 tested the possible extensions of the « D » Zone which forms part of a strong UTEM conductor some 450 meters in length by 250 meters deep. Five of the six drill holes intersected a 0.05 meters to 0.7 meters band of semi-massive to massive sulphides within chloritic schists that extends laterally for 200 meters and to a depth of 100 meters. Drill hole CL-2011-02 did not reach the target depth. Assay interval results varied between 0.24% Copper and 1.22% Zinc over 0.10 meters to 2.39% copper and 0.79% Zinc over 1.50 meters.

Drill holes CL-2011-07 and 08 tested the lateral continuity of the "V" Zone discovered by Namex in 1996. Historical drilling intersected up to 2.24% Copper over 6.4 meters and 1.14% Copper over 10.3 meters. The UTEM survey did not detect any conductors over the zone. Drill hole CL-2011-07 intersected up to 0.14% Copper and 0.54% Zinc over 1.40 meters. Drill hole CL-2011-08 yielded 1.79 % Copper over 6.19 meters within a wider envelope of 1.09% Zinc over 14.58 meters. Drill holes CL-2011-09 to 12 tested a series of IP anomalies from the 1996 Namex survey and a portion of the 2011 UTEM conductor over an un-drilled segment of the mineralized horizon. Drill hole CL-2011-12 yielded 2.21% Copper and 0.48% Zinc over 0.70 meters from the UTEM conductor. An In-Hole EM survey was completed in drill holes CL-2011-03 to 06 from the "D" Zone and in drill holes CL-2011-11 and 12 from the "V" Zone. There were no anomalies detected in drill hole CL-2011-12.

In 2012, Fancamp completed a magnetic and a Deep IP survey on the "V" Zone covering 17 kilometers, followed by diamond drilling of 24 holes totaling 5,742 meters on the "D", "F" and "V" zones (refer to the appended diamond drill hole statistics). Drill holes CL-2012-02 to 08 drilled on the "D" Zone continued to intersect a narrow massive sulphides horizon averaging 1.15 meters wide yielding 1.54% Copper and 0.94% Zinc. Incorporating drill hole date from 2011, the horizon averages 1.06 meters wide grading 1.72% Copper and 0.97% Zinc over a 300 meters long by 200 meters deep zone.

In summary, the Project hosts a numbers of narrow massive sulphide lenses along a folded horizon. The "A", "C", "E" and "O" zones host historic mineral resources; whereas the "B" and "D" zones have no mineral resources. The two other lenses, the "F" and "V" appear independent from the others but possibly along the same trend.

Fancamp's exploration efforts were focused on increasing the size of the mineralized system and the Company succeeded in extending the mineralization southwards albeit along narrower intervals than was intersected in the historical Namex drilling. The northern extent appears truncated by a fault. At this time, Fancamp does not plan any further field work but will commence a more in-depth compilation-synthesis-analysis of the Clinton-Namex data package and to determine if the Project may hold a 5 to 25 million tonnes base and precious metal mineral resources.

The technical information in this news release was compiled, reviewed and approved by Jean Bernard, P. Geo., the Company's Senior Geologist, and Jean Lafleur, P. Geo., President and CEO and a Director of the Company. Both individuals are Qualified Persons under NI 43-101 Rules.

Diamond Drill Hole Statistics from the 2010-2012 Exploration Work by Fancamp Exploration Ltd., on the Clinton Copper-Zinc Project
Year Zone Diamond
NAD 83, Zone 19
Easting Northing
2010 South CL-2010-01 344932 5022836 110/-50 237
CL-2010-02 344932 5022836 110/-68 168
CL-2010-03 344152 5023594 110/-50 108
CL-2010-04 344114 5023467 110/-50 141
Total 654 m
2011 "D" CL-2011-01 349929 5033238 102/-45 209
CL-2011-02 349928 5033238 102/-61 222
CL-2011-03 349908 5033149 102/-45 213
CL-2011-04 349908 5033149 102/-61 252
CL-2011-05 349898 5033067 102/-50 198
CL-2011-06 349898 5033067 102/-65 225
"V" CL-2011-07 350739 5032816 110/-45 228
CL-2011-08 350769 5033021 110/-45 189
CL-2011-09 350290 5033017 110/-45 240
CL-2011-10 349247 5031735 115/-45 69
CL-2011-11 349340 5031911 115/-45 66
CL-2011-12 349549 5032097 115/-45 150
Total 2,255 m
2012 South CL-2012-01 346436 5026254 110/-50 123
"F" CL-2012-09 348928 5030218 106/-45 228
CL-2012-10 348928 5030221 106/-65 207
CL-2012-11 348476 5030381 110/-45 126
CL-2012-12 348502 5031303 110/-45 144
CL-2012-18 348411 5031342 110/-45 261
"D" CL-2012-02 349975 5033036 95/-45 126
CL-2012-03 349879 5032968 98/-50 204
CL-2012-04 349879 5032968 98/-65 274
CL-2012-05 349844 5033187 102/-55 321
CL-2012-06 349990 5033133 102/-55 123
CL-2012-07 349929 5033238 95/-61 261
CL-2012-08 350009 5033221 93/-45 132
"V" CL-2012-13 350727 5033161 107/-70 300
CL-2012-14 350673 5033023 107/-68 324
CL-2012-15 350778 5033144 112/-68 249
CL-2012-16 350813 5033134 110/-68 132
CL-2012-17 350679 5032986 102/-68 305
CL-2012-19 350668 5032959 110/-68 342
CL-2012-20 350606 5033016 110/-65 387
CL-2012-21 350568 5032961 110/-65 432
CL-2012-22 350273 5033032 110/-65 264
CL-2012-23 350717 5033090 85/-55 246
CL-2012-24 350451 5033272 110/-60 231
Total 5,742 m

Quality Assurance / Quality Control Protocols

Drill core boxes from the 2010, 2011 and 2012 diamond drilling campaigns arrived at the Fancamp core logging facility located in Thetford Mines (Quebec). Boxes are opened and depth tags are verified for errors. Each box is labeled with embossed aluminum tape stapled to box end. Numbers indicated hole and box numbers as well as "from" and "to" footages. Sampling is continuous through mineralized intervals and intermittent in other lithologies or lithological contacts. Within mineralized intervals, samples taken are between 0.5 to 1.0 meters in length of half-sawed core, or up to lithological or structural boundaries.

According the nature of the mineralization, whether Gold, Copper and/or Zinc, one to three standards per hole are included within the sampling of mineralized zones (ME-7, CDN-ME-14, P4A). One blank sample is inserted at every 17 to 19 samples. The blank sample used is a pure quartzite from Lac Daveault (Quebec).

Other parameters described in the drill logs included structure, alteration and mineralization. Mineralization is described as a visual percentage of sulphides. Sample bags are wrapped with scotch tape. Samples are placed in large rice bags for shipping, all secured with a cable tie. Samples are transported from the core shack to the Thetford Mines bus station. They are shipped by commercial transport to the ALS Laboratory Group facilities in Val-d'Or (Quebec) (the "ALS Laboratory"). Shipping waybills and sample submittal form are scanned and sent to the lab by internet. They are also kept for tracking shipments as required.

Samples arriving at the ALS Laboratory are individually weighed, dried at high temperature, crushed 70% to <2 millimeters, riffle split and pulverized 85% to <75 µm. Samples were analyzed by the Au-ICP 21 and ME-MS41 methods. If values returned greater than 100 g/t Silver, 10,000 ppm Copper and 10,000ppm Zinc for the ME-MS41 assay method, then a second assay is done using the either Ag-OG46, Cu-OG46 and/or Zn-OG46 method.

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

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