Fancamp Successfully Completes Spring Drill Program at Stoke Intersecting 98 metres of Disseminated Copper Mineralization
FANCAMP EXPLORATION LTD.
7290 Gray Avenue, Burnaby, British Columbia, V5J 3Z2
Telephone: 604-434-8829 | Website: www.fancamp.ca
News Release
September 8, 2022 TSX-V Trading Symbol: FNC
Fancamp Successfully Completes Spring Drill Program at Stoke
Intersecting 98 metres of Disseminated Copper Mineralization
VANCOUVER, British Columbia – September 8, 2022 - Fancamp Exploration Ltd. (“Fancamp”
or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce the completion of its
spring drilling program at the Stoke Project, situated in the Eastern Townships of Quebec (Figure
1). Notably, this work, representative of over 1,100 metres of drilling, led to the intersection of the
widest sulphide mineralization discovered at the project to date, validating the potential the Stoke-
Weedon belt provides for the discovery of copper-rich VMS type deposits (refer to press release
dated March 22, 2022).
Fancamp has drilled a total of 1,119 metres in 3 holes during June , over the Grand Prix and
Copper Zone of the Stoke property . This program aimed to evaluate the down -dip and down -
plunge extension of hole ST -2013-06, which had intersected 6.4 metres @ 7.29% Cu a nd 17.6
g/t Ag (refer to H ole ST-2011-06, MRN Report GM 66485, 2012 ) and has now defined
mineralization to a vertical depth of approximately 250 metres.
Highlights
• Hole STDD-22-05 intersected 98.0 metres @ 0. 12% Cu (from 275 to 373 m etres –
downhole length) (Table 1, Figure 2).
• Hole ST DD-22-06 intersected 98 meters of disseminated to semi massive pyrite with
specs and stringer of chalcopyrite within a broader zone of 110 metr es of intense black
chlorite and sericite alteration. Within that interval, several zone s exhibiting up to 20%
pyrite with trace to 2-3% chalcopyrite were noted.
“Fancamp’s 2022 drilling programs have been providing positive and sustainable results which
substantiate management’s exploration plans and corporate strategy, especially on the back of
Fancamp’s recently announced strategic sale of the Company’s interests in its Koper Lake mining
claims (as reported in press releases dated July 21, 2022, August 10, 2022, September 1, 2022,
and September 2, 2022). Today’s announcement of our latest exploration results continues to
highlight the prospective extension and proof of mineralization potential of our Stoke Project,
building on known historical exploration indicators to new exploration targets and areas of interest.
The continuous investment in geological study and exploration by the Company continues to
deliver high quality results on which to leverage future exploration and growth initiatives.” – Rajesh
Sharma, President and Chief Executive Officer of Fancamp.
Figure 1 – Stoke Regional Map
Table 1: Stoke Project Drill Results
Hole ID Prospect East North From To Width Grade
UTM UTM (m) (m) (m) Cu (%) Zn (%) Pb (%) Ag (g/t) Au (g/t)
STDD-22-04 Stoke 285227 5044781 190 192 3 0.24 0.1 0.25 1.3 0.03
STDD-22-05 Stoke 285639 5044860 19 20 1 0 0.01 0.01 <0.2 1.41
275 373 98 0.12 0.02 0 0.4 0.01
Including
297 298 1 1.12 0.01 0 2.6 0.01
317.25 322 4.75 0.27 0.05 0.01 1.5 0.02
348 353 5 0.28 0.01 0 0.8 0.01
And
401.35 402.35 1 0.6 0.01 0.01 2.4 0.03
STDD-22-06 Stoke 284166 5044426 No significant assay
results
Outlook
Fancamp and Mira Geoscience Ltd. previously completed the construction of a 3D model for the
Stoke project which indicated the property geology is comprised of a main stratigraphic sequence
consisting of a volcano -sedimentary succession of bi -modal volcanic units overlain by
sedimentary packages. A breakthrough from the 3D modelling interpretation was the development
of paleo reconstruction of the stratigraphical units which led to the discovery of a series of either
potential synvolcanic faults and/or graben type depression at the paleo surface defined by the
exhalative horizon situated at the mafic–felsic contact. These depressions are often the focus of
metals deposition and synvolcanic growth faults are often the first -order control on the flow of
metal-bearing hydrothermal fluids. Supported by this analysis, the spring drill program at Stoke
aimed to test the paleosurface to uncover potential metal concentrations and to test the exhalative
horizon associated with interpreted syn volcanic growth faults.
Historical drilling highlights of the Stoke Project includes 7.29% Cu over 6.40 metres in the depth
extension of Phelps Dodge’s “Copper Zone ”, (DH 2011-06) and 6.21 gpt Au in the “Grand Prix”
gold zone; including a 1.0 metre interval with 22.4 gpt Au, 7.73% Zn, 1.73% Cu, and 2.62% Pb
(DH ST-2010-06).
The results of the H1 2022 drilling program will allow Fancamp to pursue the interpretation of the
unique Stoke -Weedon volcano sedimentary VMS rich sequence. In particular, Fancamp will
explore the geochemical alteration patterns as well as potential structural trap in the area of Hole
STDD 22 -05 to determine if a favourable deposition environment could be (re)traced. The
Corporation’s next steps involve better defining the gravity anomaly and the down-dip extension
of STDD-22-05 to extend the Copper Zone and to concurrently test the Grand Prix area (Figure
2). Fancamp has conducted a VTEM survey on the Grasset Project, a property comprised of 664
mining claims located northwest of Matagami, Qu ébec, along the Detour -Fenelon Gold Trend
which covers the northern margin of the Abitibi greenstone belt . Grasset is a highly prospective
project of the Corporation, with development plans that include follow -up work on geophysical
anomalies highlighted by the VTEM survey.
Figure 2 – Longitudinal Section – Grand Prix and Copper Zones
Qualified Person
The scientific and 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.
Quality Control
Assays for the diamond drill programs were analyzed by Activations Laboratories Ltd. in Ancaster,
Ontario. The Corporation inserts quality control samples (blanks, standard reference material,
and duplicates) at regular intervals to monitor laboratory per formance. Standard samples are
inserted every 15 -20 samples, with additional standard material added to mineralized zones.
Reference samples are obtained from OREAS (Ore Research and Exploration P/L ABN) and
comprised OREAS 620 (0.173% Cu), and OREAS 624 (3.10% Cu). Blanks are inserted every 15-
20 samples and are obtained from a deposit of pure quartzite. Field duplicates are inserted every
20 samples.
About Fancamp Exploration Ltd. (TSX-V: FNC)
Fancamp is a growing Canadian mineral exploration corporation dedicated to its value -added
strategy of advancing its priority mineral properties through exploration and innovative
development. The Corporation owns numerous mineral resource properties in Quebec, O ntario
and New Brunswick, including chromium, strategic rare -earth metals, gold, zinc, titanium and
more. Fancamp’s chromium properties in the highly sought-after Ring of Fire in Northern Ontario
are strategically located. Its rare earth element properties in Quebec are a special focus. Fancamp
has investments in an existing iron ore operation in the Quebec -Labrador Trough, in addition to
an investment in a zinc mine planned to be restarted in Nova Scotia. Fancamp is developing
energy reduction technology w ith its advanced Titanium extraction strategy. The Corporation is
managed by a focused leadership team with decades of mining, exploration and complementary
technology experience.
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 incl ude, 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
always, identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”,
“projects”, “potential” and similar expressions, or are events or conditions that “wil l”, “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 anticipa ted 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 law s, Fancamp disclaims any intention or obligation to publicly update or
revise 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
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.