Fancamp Exploration Ltd.
TSX VENTURE : FNC

Fancamp Exploration Ltd.

November 12, 2015 16:03 ET

Successful Test for Fancamp's Magpie Process

VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 12, 2015) - Fancamp Exploration Ltd. ("Fancamp") (TSX VENTURE:FNC) is pleased to report the successful completion of tests involving the patented "Magpie Process" on concentrate and slag samples provided by Pangang/Ansteel of Sichuan,China. In the case of the ilmenite rich concentrate (47% TiO2) samples, tests produced high-grade synthetic rutile (titanium dioxide) products grading over 98.5%, with over 95% recoveries. Remarkably, and unexpected, were outcomes of the slag testing, which resulted in an almost pure TiO2 product grading 99% TiO2. This latter result can be considered something of a game changer in the licensing process model being followed by the Company, knowing the availability of large amounts of slags that are being dumped as waste by many smelting operations throughout the world. In addition, serious interest in this process has been expressed by other TiO2 producers and miners in North America and abroad, emphasizing the rightness of the Company's approach. The Company is also looking into the possibility of federal government grants with respect to further development of the process which under current criteria can be considered "green". The time frame involved in these processes at present can be measured in months.

In other developments, the Company continues its exploration activities on the Robidoux Property in western Gaspé. A 600 tonne bulk sample of the gold bearing Robidoux quartz vein material was shipped to Val D'Or in September for processing at the Camflo Mill. Some 200 ounces of gold were recovered indicating a grade of about 0.3 ounces Au/tonne. This gold was immediately sold at market prices but the high transport and processing costs rendered the exercise a break even proposition. Important lessons however, were learned about the Robidoux vein systems and their complexities, particularly the nugget effects, in recognition of which more selective sampling efforts could yield higher grades. A second bulk sample is in preparation with a view to processing at a more proximal New Brunswick facility.

The Company is actively seeking joint venture partners on its Stoke and Clinton projects in the Quebec Appalachians. On the Stoke property significant copper intersections (7.9%Cu/6.4m, 6.34%Cu/5.1m) are associated with a strong gravity anomaly, while a much larger, similar and untested anomaly lies some 700m to the NW in a similar geological environment. The Clinton property hosts a series of small lenses of VMS mineralization. A drilling program conducted in 2014 consisted of five drill holes to test some of the lenses. The final drill hole in one of these lenses returned 2.78%Cu/24.7m suggesting the possibility of larger volumes of mineralized material.

The Company has also acquired by staking, a group of high grade silica properties both in the Appalachians and the Grenville Province, some of which can be considered of immediate commercial interest.

About Fancamp Exploration Ltd (www.fancampexplorationltd.ca)

Fancamp Exploration Ltd. is a Canadian junior mineral exploration company with an exceptional inventory of properties and related assets. Company policy over the years has been, and continues to be, to reduce risk by bringing in participating partners through sales or options. The resulting shares, cash payments and royalties have enabled the generation of income to continue the process and take advantage of opportunity.

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.

Contact Information

  • Fancamp Exploration Ltd.
    Peter H. Smith
    President, CEO and Chairman
    +1 514 481 3172
    phsmith@outlook.com