Fancamp Reports Coincident Geochemical and Geophysical Anomalies at Riley Brook and Confirms Gold Bearing Rhyolite at McIntyre Brook at New Brunswick Acadian Gold Joint Venture
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
January 20, 2025 TSX-V Trading Symbol: FNC
Fancamp Reports Coincident Geochemical and Geophysical Anomalies
at Riley Brook and Confirms Gold Bearing Rhyolite at McIntyre Brook at
New Brunswick Acadian Gold Joint Venture
VANCOUVER, British Columbia – January 20, 2025 - Fancamp Exploration Ltd. (“Fancamp” or the
“Company”) (TSX Venture Exchange: FNC) is pleased to announce its initial exploration results of
Acadian Gold , a joint venture with Lode Gold Resources Inc. for the advancement of a 445 km²
under-explored land package located in New Brunswick. Work completed as part of the launch of
Acadian Gold’s exploration program includes a Heliborne HeliTEM² Survey over the Riley Brook and
McIntyre Brook properties , as well as a soil geochemical grid on select areas over the Riley Brook
property, along with trenching and rock chip channelling at McIntyre Brook.
The results received from this first phase of exploration by Acadian Gold has significantly increased
the known surface expression of the previous data and historical drilling at McIntyre Brook,
confirming by trenching and chip channel sampling a gold bearing rhyolitic horizon presenting a
minimum strike extension of at least a 200-metre and up to 9-metre thickness, similar to the one
observed at Puma Exploration’s Williams Brook Project.
At Riley Brook, a significant multi-element soil anomaly coincident with a Conductive EM Anomaly
indicates the possibility of an Intrusion Related Gold System in the southwestern section of the
property. By confirming the limited historical work at McIntyre Brook as well as identifying combined
soil and geophysical anomalies, the Company has further substantiated the prospectivity of the
Acadian Gold joint venture to expand into a district scale gold-copper play. The Acadian Gold
properties encompass a combined 445 km 2 land package of mineral claims , constituting gold
mineralized zones that extend over several kilometres, on trend with Puma Exploration ’s Williams
Brook property which is the subject of an option agreement with Kinross Gold Corp., making Fancamp
and Lode Gold’s joint package of assets inherently attractive.
François Auclair, Vice President Exploration of Fancamp comments, “The first phase of exploration at
the Acadian Gold joint venture has been successful at confirming a meaningful, gold bearing rhyolitic
horizon at McIntyre Brook through the trenching and channel sampling; and at Riley Brook with
coincident, geophysical and multi-element geochemical anomalies. The results at both properties are
highly encouraging considering the limited historical work recorded in the area and that less than 10%
of the Riley Brook property has been covered by FNC geochemical soil sampling program. We see a
lot of potential for growth given the prolific region which hosts other gold-focused development
projects, the dominant land package and likelihood of proving these properties host Epithermal and
Intrusive Related Gold Systems.”
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 Mining's Valentine Lake Project.
Exploration Highlights
• The Heliborne HeliTEM² Survey was flown over 3,247-line kilometers, covering 419 km² of
joint venture land package , with considerable data acquired over both properties in a grid
pattern with 150-metre spacing between each flight line ( refer to Figure 1). The helicopter-
borne geophysical survey consist ed of magnetic, electromagnetic and radiometric
measurements leveraging the Xcalibur HeliTEM² system.
• Prospecting and trenching at McIntyre Brook confirmed the presence of a gold bearing
rhyolite horizon, similar to the one observed at Puma’s Williams Brook Project (refer to Figure
2 and Table 1), with preliminary trench results that include 5.3 metres of 1.19 gpt Au.
• The survey reveal ed the presence of coincident radiometric and conductive geophysical
anomalies at both Riley Brook and McIntyre Brook.
• Soil geochemical surveys were conducted over 3 grids on the Riley Brook property and
revealed the presence of large soil Au-W-As-Sb geochemical anomalies positioned in the
southern part of the property (refer to Figure 3).
• Acadian Gold staked an additional 26 km² at the southwestern edge of the Riley Brook
property to cover the potential continuation of the soil geochemical anomaly and coincident
conductivity anomaly.
McIntyre Brook Trenching Program
The McIntyre Brook trenching program confirmed earlier results from historical drilling in the
central part of the property (refer to Figure 2 and Table 1). Results significantly expanded the
known mineralization previously defined by Lode Gold Resources Inc. in 2019 to a minimum strike
length of 200 metres and a potential thickness of up to 9 metres. Mineralization defined insofar
appears comparable to the description of a similar mineralized lithological unit found on
neighboring Puma Exploration’s Williams Brook Project.
The McIntyre Brook trenching also allowed for better definition of the strike and dip of the gold
bearing rhyolitic unit and for follow up exploration drilling along the southwestern and northeastern
trend. EM airborne data has further revealed a distinctive anomaly located in the east ern sector
of the McIntyre Brook property, where assay results of soil samples collected from this area are
expected later this month.
Results received to date are considered very encouraging, meanwhile results from the soil
geochemical surveys at McIntyre Brook remain pending, which intend to guide future course of
action for a prospective drill program. Future work planned at the McIntyre Brook prospect intends
to further expand the strike length and identify potential parallel structures and inflections.
Riley Brook Geochemical Soil Surveys
The Riley Brook geochemical soil surveys reveal ed the presence of strong soil anomal ies in the
southern end of the property (refer to Figure 3 ). These seem to correlate with a number of
discrete intrusives mapped throughout the property by the New Brunswick Geological Survey.
Recon soil sampling which only covered ~10% of the Riley Brook property has revealed multiple
gold anomalies of similar tenor demonstrated on other Appalachian gold belt deposits such as
Puma Exploration’s Williams Brook Property (>20ppb Au in soils).
The soil anomalies are defined by various percentile levels of As (98%), Au (99%), Sb (97%) and
W (96%), elements which are valid pathfinders associated with gold mineralization in Epithermal
and Intrusive Related systems. Notably, these anomalies are further associated with potential
coincident HeliTEM² conductive and radiometric anomalies.
Future work at Riley Brook may include ground geophysics to cover the gold geochemistry and
EM anomaly, including further soil sampling and trenching work planned for the spring of 2025.
Figure 1: Acadian Gold McIntyre Brook and Riley Brook Airborne Magnetometer.
Figure 2: McIntyre Brook Trenching Results.
Trench ID
From
(m)
To
(m)
Length
(m)
Au
(gpt)
Metal Factor
(gpt*m)
T10 8.8 14.1 5.3 1.19 6.30
T9 3 9.8 6.8 0.89 6.04
T1 24.9 28.9 4 0.21 0.86
T2 3.7 6.7 3 0.50 1.51
T5 No significant assay results
T6 No significant assay results
Table 1: Preliminary Trenching Results at McIntyre Brook.
Figure 3: Riley Brook coincident EM and soil geochemical anomaly.
New Brunswick, Acadian Gold Joint Venture: A joint initiative with Lode Gold Resources Inc. for
the advancement and exploration of significantly sized , well -located and under -explored mineral
assets 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
includes the Riley Brook property, a 334.5 km2 land package of mineral claims and 111 km2 of McIntyre
Brook mineral claims, combined to create a dominant land holding 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 with upside potential from a major
discovery (refer to press releases dated August 27, 2024 and October 9, 2024).
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp Exploration Ltd. is a Canadian mineral exploration company focused on acquiring strategic
interests in and advancing high potential mineral projects , and creating accretive value for
shareholders through medium-term growth and monetization opportunities. The Company has
investments in Champion Iron Ltd. (CIA), an existing iron ore operation in the Quebec -Labrador
Trough in addition to a finite production payment royalty. The Company owns a $34.5 million secured
convertible note with Canadian Chrome Company and 2% royalty on its chromite deposit located in
the highly sought after Ring of Fire in Northern Ontario. Fancamp’s assets include 96% stake in
Magpie Mines Inc. and a 2% royalty in one of the world’s largest known Ti-deposits. Fancamp recently
entered into a joint venture with Lode Gold Resources Inc. (LOD) to advance a district scale gold -
copper project in New Brunswick located on an orogenic belt where other major developers are
established. The Company’s other significant shareholdings include NeoTerrex Minerals Inc. (NTX),
a rare earth elements company and EDM Resources Inc. (EDM), a near-term cash flow generating
Zinc mine in Nova Scotia. Fancamp has a joint venture with PTX Metals Inc. (PTX) for gold exploration
in the Abitibi green stone belt in addition to its own highly prospective mineral properties in Quebec.
Fancamp is managed by a focused leadership team with decades of mining, exploration and capital
markets experience. The Company trades on the TSX Venture Exchange under ticker symbol "FNC",
and on the OTC Markets under ticker symbol "FNCJF".
Further information on the Company can be found at: www.fancamp.ca
Qualified Person
The technical information and disclosure 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.
Quality Assurance and Quality Control
François Auclair, PGeo, M.Sc. , a Qualified Person as defined by National Instrument 43 -101, is
responsible for the on -going drilling and sampling program, including quality assurance (QA) and
quality control (QC). Assays for the soil sampling and trenching were respectively analyzed by ALS
Canada Ltd. and Techni -Lab, a subdivision of Actlabs . The Corporation inserts quality control
samples (blanks, standard reference material, and duplicates) at regular intervals to monitor
laboratory performance.
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, ma y 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
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