Fancamp Announces Airborne EM-MAG-RADIOMETRIC Survey at New Brunswick Acadian Gold Joint Venture with Lode Gold
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
October 18, 2024 TSX-V Trading Symbol: FNC
Fancamp Announces Airborne EM-MAG-RADIOMETRIC Survey at
New Brunswick Acadian Gold Joint Venture with Lode Gold
VANCOUVER, British Columbia – October 18, 2024 - Fancamp Exploration Ltd. (“Fancamp” or the
“Company”) (TSX Venture Exchange: FNC) is pleased to announce that it has initiated a Heliborne
HeliTEM² Survey over the Riley Brook and McIntyre Brook properties, in northern New Brunswick, as
part of the recently announced Acadian Gold Joint Venture with Lode Gold Resources Inc. (refer to
Figure 1). The properties encompass a combined 419 km2 land package of mineral claims, constituting
gold mineralized zones that extend over several kilometres, on trend with Puma Exploration’s Williams
Brook property. The planned work program at the Acadian Gold properties follows the recent closing
of a strategic transaction and opportunity with Lode Gold Resources, as announced on October 9,
2024, for the joint advancement of significantly sized, well-located and under-explored mineral assets
with potential from a major discovery.
The recent c ombination of mineral assets between Fancamp and Lode Gold Resources Inc. into a
dominant land holding of high -quality, underexplored ground in N ew Brunswick, was a major
development which now aims to be further validated by this high-resolution heliborne electro-magnetic
and radiometric survey.
This joint initiative with Lode Gold Resources Inc. occurs in a highly prospective geologic domain for
gold and polymetallic discovery, within the Appalachian Gold Corridor that hosts other Au-focused
projects such as New Found Gold's Queensway Project and Calibre's Valentine Lake Project.
Highlights
• Direct Detection Abilities: The HeliTEM² survey effectively identifies electrically conductive
sulphide-rich veins and sulphide-rich alteration halos in the area.
• Target Vectorization: By integrating magnetic and radiometric data, this survey enables the
team to accurately map the structures and distinctive alteration halos linked to gold mineralization,
such as sericite and K-feldspar.
• Large and Detailed Survey Area: The survey will cover both properties for a total of 419
km² and consists of 3,163 line-kilometres of data which will be acquired over both properties in a
grid pattern with 150-metre spacing between each flight lines.
• Accelerated Drilling Timeline: By generating fast-tracked targets, this survey significantly
reduces exploration timelines, enabling the joint venture to advance towards a drilling phase more
efficiently.
The helicopter -borne geophysical survey consist s of magnetic, electromagnetic and radiometric
measurements using the Xcalibur Smart Mapping HeliTEM² system, which has a low noise receiver
with a square transmitter waveform to provide rapid current turn -off to enhance sensitivity to near
surface features. The survey will guide the Company’s field efforts in the coming months.
Figure 1: Compilation map of Riley Brook and McIntyre Brook properties and associated results.
Fancamp identified several areas of interest based on its internal compilation of geochemical,
geophysical and geological data from previous operators. To further investigate these areas, the
HeliTEM² survey will provide high-resolution data that accurately directs us toward mineralized zones.
The high-resolution magnetic survey will be used to improve geological identif ication of primary and
secondary geological structures, which may control different mineralization styles on the properties,
and to identify radiometric anomalies, often associated with alteration patterns and felsic rocks ,
potentially associated with Rocky Mill fault systems.
New Brunswick, Acadian Gold Joint Venture: A joint initiative with Lode Gold Resources Inc. for
the advancement and exploration of one of the largest and under -explored land packages in New
Brunswick, 'Acadian Gold Corp.’ This 50/50 joint venture is located in a highly prospective region for
gold and polymetallic mineral discovery, a geologic domain that hosts other gold -focused firms such
as Calibre Mining and New Found Gold. The Acadian Gold joint venture constitutes combined mineral
properties, Fancamp’s recently acquired 309 km2 package of mineral claims, the Riley Brook property,
along with Lode Gold’s 111 km 2 McIntyre Brook holdings, creating an exceptionally sized project on
an orogenic belt where other major developers are established and host certain world-class deposits.
The Acadian Gold joint venture is positioned from a strategic perspective as a key player in the region,
and holds the potential to become an emerging, district-scale, Au-Cu exploration play (refer to press
release dated August 27, 2024).
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration company focused on creating value through
medium term growth and monetization opportunities with its strategic interests in high potential mineral
projects, royalty portfolio and mineral properties. The Company is focused on an advanced asset play
poised for growth and selective monetization with a portfolio of mineral claims across Ontario, Québec
and New Brunswick, Canada; including copper, gold, zinc, titanium, chromium, strategic rare -earth
metals and others. The Company continues to identify near term cash -flow generating opportunities
and in parallel aims to advance its investments in strategic mineral properties. Fancamp has
investments in an existing iron ore operation in the Quebec -Labrador Trough, a rare earth elements
company, NeoTerrex Minerals Inc., a copper–gold exploration company, Platinex Inc., an opportunity
to develop an emerging gold -copper exploration play with Lode Gold Resources in addition to an
investment in a near term cash flow gener ating zinc mine, EDM Resources Inc. in Nova Scotia. The
Company has future monetization opportunities from its Koper Lake transaction in the highly
sought-after Ring of Fire in Northern Ontario. Fancamp is developing an energy reduction and titanium
waste recycling technology with its advanced titanium extraction strategy. The Company is managed
by a focused leadership team with decades of mining, exploratio n and complementary technology
experience.
Further information on the Company can be found at: www.fancamp.ca
Qualified Person
The technical information contained in this press release was reviewed and approved by François
Auclair, Pgeo, M.Sc. Vice President Exploration of Fancamp, designated as a Qualified Person under
National Instrument 43-101. M Auclair, the Company’s qualified person and an officer, has reviewed
and approved the technical disclosure contained in this news release.
Forward-Looking Statements
This news release contains certain “forward -looking statements” or “forward -looking information”
(collectively referred to herein as “ forward-looking statements”) within the meaning of applicable
securities legislation. Such forward -looking statements include, without limitation : the closing of the
Transaction and the execution of all documents and completion of all steps related thereto, including
but not limited to the completion of the Private Placement, the Fancamp Investment and the Spin Out;
the receipt of TSX-V approval in respect of the Transaction; and the Company’s forecasts, estimates,
expectations and objectives for future.
Such forward-looking statements are based on a number of assumptions, which may prove to be
incorrect. Assumptions have been made regarding, among other things: conditions in general
economic and financial markets; accuracy of assay results; geological int erpretations from drilling
results, timing and amount of capital expenditures; performance of available laboratory and other
related services; future operating costs; and the historical basis for current estimates of potential
quantities and grades of target zones. The actual results could differ materially from those anticipated
in these forward-looking statements as a result of risk factors, including the timing and content of work
programs; results of exploration activities and development of mineral pro perties; the interpretation
and uncertainties of drilling results and other geological data; receipt, maintenance and security of
permits and mineral property titles; environmental and other regulatory risks; project costs overruns
or unanticipated costs and expenses; availability of funds; failure to delineate potential quantities and
grades of the target zones based on historical data; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company’s
management on the date the statements are made. The assumptions used in the preparation of such
statements, although considered reasonable at the time of preparation, may prove to be imprecise
and, as such, readers are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date the statements were made. The Company undertakes no obligation
to update or revise any forward -looking statements included in this news release if these beliefs ,
estimates and opinions or other circumstances should change, except as otherwise required by
applicable law.
For Further Information
Rajesh Sharma, President & CEO
+1 (604) 434 8829
Tara Asfour, Director of Investor
Relations
+1 (604) 434 8829
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.