Fancamp Announces IP Geophysical Survey Results at Clinton Property Delineating Multiple Anomalies on New Prospective Area for Copper- Zinc Mineralization
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
March 13, 2023 TSX-V Trading Symbol: FNC
Fancamp Announces IP Geophysical Survey Results at Clinton Property
Delineating Multiple Anomalies on New Prospective Area for Copper-
Zinc Mineralization
VANCOUVER, British Columbia – March 13, 2023 - Fancamp Exploration Ltd. (“ Fancamp” or the
“Corporation”) (TSX Venture Exchange: FNC) is pleased to announce complete results of the Corporation’s
Induced Polarization (“IP”) geophysical survey on its Clinton property located in the Eastern Townships of
Québec, Canada, (refer to Figure 1) one of the top jurisdictions globally in terms of attractiveness for exploration
investments (Annual Survey of Mining Companies 2021, Fraser Institute).
The IP survey conducted this winter at Clinton targeted the Southern extension of a favorable geological
horizon which hosts the past producing Clinton “O” mine and the known massive sulphide lenses containing
historical non-compliant NI 43-101 resources of 1.52 Mt at 2.02% Cu and 1.54% Zn , (MRNFQ Fiche de Gite
21E07-0007) an area where known copper mineralization had been identified across past exploration work
and recent drill programs completed during Spring 2022 (refer to Figure 2).
Interpreted results of the survey indicates strong chargeability and conductivity anomalies (IPCS-5) along the
targeted favorable horizon ( refer to Figure 3 ) consistent with a response from sulphide mineralization . An
additional anomaly , IPCS-4, closely related and parallel to the main anomaly , IPCS-5, could indicate the
possibility to discover multiple ore shoots in the area. Th ese results shine a spotlight on new and under-
explored areas of the Clinton propert y, 5.5 k ilometres south of the current area of known massive sulphide
lenses, where Fancamp believes more copper-zinc mineralization can be discovered.
The IP survey configuration allowed Fancamp to survey down to a vertical depth of 300 metres. This compares
favorably to the previous 2010 airborne VTEM geophysical survey which achieved limited depth penetration.
Results received from the 2023 IP survey delineate the best target as anomaly IPCS-5 on line 4700S, where
the anomaly is located between 150 and 200 metres vertical depth (refer to Figure 4). Thus, the new technology
deployed by Fancamp on the Clinton property paired with geological interpretation produced a first -priority
target for a future drilling program.
Fancamp aims to advance promising projects such as Clinton in order to maximize shareholder value through
reliable compilation and interpretation of data collected across various geophysical surveys, and supported by
historical work , which in this case further validates that the Clinton Pr oject hosts vast sulphide copper
mineralization potential.
Figure 1: Areas of past copper mineralization at Clinton Project
Figure 2: Clinton Project Scope of IP Survey
Figure 3: Resistivity and chargeability anomalies over Clinton South IP survey grid
Figure 4: L4700S Cross section showcasing best anomaly of the survey at 150-200 metres vertical depth
The Clinton Project was a past producing mine, with historical drilling having occurred across multiple
exploration programs since 1953, totaling 62,354 metres in 297 holes, aside from Fancamp’s recent Q1-2022
drilling program. In 2022, Fancamp validated the extension of historical lens “A” to a minimum of 100 metr es
along strike and at shallow depth through a 6 -hole, 1,294-metre drill program (refer to press release s
dated June 14th, 2022 , and August 17th, 2022 ). Fancamp is b uilding on a reliable foundation of extensive
historical work and leveraging technologies to better define highly prospective targets and prove the extension
of mineralization on the property.
The Stoke Project survey completion and results are expected during in Q2-2023.
About the Induced Polarization Method
IP survey is a geophysical method that injects electrical current into the ground through electrodes and
measures the voltage response. The method allows the measurement of chargeability an d resistivity of the
rock surveyed. Greater content of metallic sulphides, such as volcanic massive sulphides, will typically
generate a stronger response than the host rock. IP surveys are thus a great tool to locate buried deposits in
geological environment such as Clinton and Stoke.
Geosig Inc. of Québec City, Québec, conducted the IP geophysical survey using a pole-dipole array along 200
metres spaced lines with readings every 37.5 metres (n=1 to 20).
Joël Simard, P. Geo l./ Geoph., of St-Donat, Qu ébec, performed in -depth analysis and interpretation of the
geophysical data.
About the Clinton Project
The Clinton Project is underlain by a folded and faulted bimodal volcanic sequence. It hosts a series of Cu –
Zn precious metals volcanogenic massive su lphide mineralization lenses extending over a 5 -kilometre NE
horizon. The project is situated approximately 20 k ilometres southwest of the town of Megantic, north of the
Maine border. The Clinton Project covers approximately 20 kilometres of favorable stratigraphy of the Clinton
River volcano-sedimentary Belt.
The project area hosts a non -43-101 compliant historical resource, contained within five small sulfide lenses
A, C, E, F, and O totaling 1.52 Mt at 2.02% Cu and 1.54% Zn [MRNFQ Fiche de Gite 21E07-0007]. A qualified
person has not done sufficient work to classify the historical estimate as current mineral resource. The
Company is not treating the historical estimate as current mineral resources.
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 qualifie d person and an officer, has reviewed and approved the
technical disclosure contained in this news release.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value -added strategy of
progressing priority mineral properties through exploration and innovative development. The Corporation is
focused on an advanced asset play poised for growth a nd selective monetization with a portfolio of mineral
claims encompassing over 158,000 hectares across Ontario, Quebec and New Brunswick, Canada; including
copper, gold, zinc, titanium, chromium, strategic rare -earth metals and others. The Corporation cont inues 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 Corporation, in addition to an investment in a zinc mine planned to
be restarted in Nova Scotia. The Corporation has future monetization opportunities from its Koper Lake
transaction in the highly sought -after Ring of Fire in Northern Ont ario. Fancamp is developing an energy
reduction and titanium waste recycling technology with its advanced titanium extraction strategy. The
Corporation is managed by a focused leadership team with decades of mining, exploration and complementary
technology experience.
Further information of the Corporation can be found at: www.fancamp.ca
Forward-looking Statements
This news release contains certain “forward -looking statements” or “forw ard-looking information” (collectively
referred to herein as “forward -looking statements”) within the meaning of applicable securities legislation. Such
forward-looking statements include, without limitation, forecasts, estimates, expectations and objectives for future
operations that are subject to a number of assumptions, risks and uncertainties, many of which are beyond the
control of the Corporation. Forward -looking statements are statements that are not historical facts and are
generally, but not alway s, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”,
“estimates”, “projects”, “potential” and similar expressions, or are events or conditions that “will”, “would”, “may”,
“could” or “should” occur or be achieved. Although Fancamp believes that the material factors, expectations and
assumptions informing such forward -looking statements are reasonable based on information available to it on
the date such statements were made, no assurances can be given as to future results of such statements. Such
forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause
actual events to differ materially from those anticipated in such forward -looking statements. Readers are
cautioned that the foregoing list of factors is not exhaustive. Statements including forward-looking statements are
made as of the date they are given and, except as required by applicable securities laws, Fancamp disclaims any
intention or obligation to publicly update or rev ise any forward -looking statements, whether as a result of new
information, future events or otherwise. The forward -looking statements contained in this news release are
expressly qualified by this cautionary statement.
For Further Information
Rajesh Sharma, President & Chief Executive Officer
+1 (604) 434 8829
Debra Chapman, Chief Financial Officer
+1 (604) 434 8829
Tara Asfour, Director of Investor Relations
+1 (604) 434 8829
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of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.