Fancamp Announces Drilling Contract Award for its Clinton Volcanogenic Copper, Zinc and Precious Metals Massive Sulphide Project

Figure 1

Fancamp Announces Drilling Contract Award for its Clinton Volcanogenic Copper, Zinc and Precious Metals Massive Sulphide Project

Fancamp Announces Drilling Contract Award for its Clinton Volcanogenic Copper, Zinc and Precious Metals Massive Sulphide Project

Figure 2

Fancamp Announces Drilling Contract Award for its Clinton Volcanogenic Copper, Zinc and Precious Metals Massive Sulphide Project

Fancamp Announces Drilling Contract Award for its Clinton Volcanogenic Copper, Zinc and Precious Metals Massive Sulphide Project

Fancamp Announces Drilling Contract Award for its Clinton Volcanogenic Copper, Zinc and Precious Metals Massive Sulphide Project

VANCOUVER, British Columbia, Jan. 25, 2022 (GLOBE NEWSWIRE) — Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX Venture Exchange: FNC) is pleased to announce that the drilling program at the Clinton Project is expected to begin in mid-February.

Based on 3D modeling from Mira Geosciences and Fancamp, the Clinton drilling program aims to test a VTEM plate anomaly located approximately 100 m NE of a copper mineralized lens (Figure 1, Figure 2). The VTEM anomaly also coincides with marker exhalation horizons identified by compilation and modeling of historical data. The “favorable horizon” will be tested by 3 fences along a lateral extension of approximately 500 meters from a minimum of 2 holes to visualize the potential extension of the mineralized horizon.

The targeted plate is interpreted to follow a “favorable” horizon identified in the compilation as a chemical exhalative unit, often associated with volcanism produced during the deposition of volcanogenic massive sulphide deposits.

Previous historic drilling as well as mining records have reported significant copper intersections along this unit and Fancamp’s exploration program aims to identify other potential mineralization along this trend.

The drilling contract was awarded to “Forage FTE Drilling” (“FTE”) of Sherbrooke Quebec. FTE is a large multinational drilling company with operations in Canada, Burkina Faso, Ivory Coast, Senegal, Suriname, French Guiana and Namibia.

About the Clinton Project

The Clinton Project, underlain by a folded and faulted bimodal volcanic sequence and hosting lenses of volcanogenic massive sulphide mineralization of precious metal Cu–Zn, is located approximately 20 km southwest of the town of Mégantic, immediately south of north of the Maine border. It covers approximately 20 km of favorable stratigraphy of the Clinton River volcano-sedimentary belt. Since exploration began in the early 20th century, the property has been the site of several exploration programs. Since 1953, some 59,694 meters of drilling in 286 holes have been completed. The property was also the site of a mining operation from 1973 to 1975 and reportedly 122,251 tonnes were mined at an average grade of 2.08% Cu, 1.54% Zn in five lenses : A, C, E, F and O [MRNFQ Fiche de Gite 21E07-0007]. A historical resource, a non-43-101 compliant report was written in the past and cannot be relied upon. Since its acquisition in 2010, Fancamp has completed several drilling programs on the property. The best drill intersections obtained (Fancamp program) were 1.79% Cu over 6.19m in a 14.58m wide zone containing 1.09% Cu (Fancamp press release dated July 16, 2012) and 1.27% Cu, 1.14% Zn and 11 gpt Ag. over 11m (V3 zone, Fancamp press release of Oct. 14, 2014), and 2.78% Cu and 16.9 gpt Ag over 24.7m ( zone V1, Fancamp press release of Oct. 14, 2014).

Qualified person

The scientific and technical information contained in this press release has been reviewed and approved by François Auclair, P Geo, M.Sc., Fancamp’s, Vice President Exploration, and is designated as a Qualified Person under NI 43-101.

Quality control

Diamond drill program assays were analyzed by Activations Laboratories Ltd. in Ancaster, Ontario. The Company inserts quality control samples (blanks, standard reference material and duplicates) at regular intervals to monitor laboratory performance. Standard samples are inserted every 15-20 samples, with additional standard material added to mineralized zones. Reference samples are from OREAS (Ore Research and Exploration P/L ABN) and include OREAS 620 (0.173% Cu) and OREAS 624 (3.10% Cu). Blanks are inserted every 15-20 samples and are obtained from a pure quartzite deposit. Terrain duplicates are inserted every 20 samples.

About Fancamp Exploration Ltd. (TSX-V: FNC)

Fancamp is a growing Canadian mineral exploration company dedicated to its value-added strategy of advancing its priority mineral properties through innovative exploration and development. The Company owns numerous mineral resource properties in Quebec, Ontario and New Brunswick, including chromium, strategic rare earth metals, gold, zinc, titanium and more. Fancamp’s chrome properties in Northern Ontario’s highly sought-after Ring of Fire are strategically located. Its properties of rare earth elements in Quebec are the subject of particular attention. Fancamp has investments in an existing iron ore operation in the Quebec-Labrador Trough, in addition to an investment in a zinc mine slated for restart in Nova Scotia. Fancamp is developing energy reduction technology with its advanced titanium mining strategy. The Company is managed by a focused management team with decades of experience in mining, exploration and complementary technologies.

Forward-looking statements

This press release contains certain “forward-looking statements” or “forward-looking information” (collectively referred to herein as “forward-looking statements”) within the meaning of applicable securities laws. These forward-looking statements include, but are not limited to, forecasts, estimates, expectations and targets for future activities that are subject to a number of assumptions, risks and uncertainties, many of which are beyond our control. of the society. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends to ‘, ‘estimates’, ‘projects’, ‘potential’ and similar expressions, or are events or conditions which ‘will’, ‘would’, ‘could’, ‘could’ or ‘should’ occur or be achieved.

Although Fancamp believes that the material factors, expectations and assumptions underlying these forward-looking statements are reasonable based on information available to it as of the date such statements were made, no assurance can be given as to future results. of these statements.

These forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual events to differ materially from those anticipated in these forward-looking statements.

Readers are cautioned that the above list of factors is not exhaustive. Statements, including forward-looking statements, are made as of the date on which they are made and, except as required by applicable securities laws, Fancamp disclaims any intention or obligation to publicly update or revise the statements. forward-looking, whether as a result of new information, future events or otherwise. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

For more Information

Rajesh Sharma, President & General manager Officer

+1 (604) 434 8829
[email protected]fancamp.ca

Debra Chapman, Chief Financial Officer

+1 (604) 434 8829
[email protected]fancamp.ca

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accept responsibility for suitability or precision of that news Release.

Photos accompanying this announcement are available at:

https://www.globenewswire.com/NewsRoom/AttachmentNg/9113a0c8-3af7-4fa4-b090-eac5687da998

https://www.globenewswire.com/NewsRoom/AttachmentNg/8f2ae683-7232-48e4-bd67-c2491c0dcbac

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