Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

October 05, 2010 15:02 ET

Fancamp to Resume McFauld's Drilling

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 5, 2010) - Fancamp Exploration Ltd. (TSX VENTURE:FNC): The Company is pleased to announce that drilling will resume on its McFauld's Lake Property in mid-October with the intention of demonstrating that the Eagle One mineralized system is an extension of that to be found at depth on the Company's C-1 target. An initial 3000 metres is planned, beginning with deepening of Hole FN-10-19 on the C-1 target. This near vertical hole, some 120 metres south of the Noront boundary, was drilled to a depth of 729 metres, and due to technical difficulties was tested by downhole geophysics only to a depth of 669 metres. Further downhole geophysics will evaluate the strong evidence of the beginnings of a large off hole conductor at this point and provide the Company with an indication of potential mineralization. An additional deep hole is planned in this vicinity as follow up. 

This drill programme is designed to test the working hypothesis that Eagle One is a faulted offset of C-1 in a left lateral displacement sense along major NW trending faults, and that the fragmentary high grade intersections seen in Holes FN-08-02 and FN-08-10 are, in this context, fault slivers of the Eagle One mineralization itself. (The original drill log of FN-08-02 describes the massive sulphide intersection as occurring "within a fault zone".)

The VMS target defined on C-2 will be drilled together with a deep conductive target on C-6 suggested by a recent detailed re-examination of the original VTEM data. Further drill testing is also planned for the major "chromite horizon" traversing the property for some 3.5 km, probable extensions of the Big Daddy deposit immediately to the NE.

It should be emphasized that the direction of this programme will be very much results dependent, and that the Company has current funding allowing it to be extended as required.

Peter H. Smith, PhD., P.Eng. is a qualified person on the Fancamp McFauld's Lake project 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
    or
    Bay Street Connect
    Michael D'Amico
    Investor Relations
    647-500-6023