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VANCOUVER, British Columbia, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce that it has filed an Independent NI 43-101 technical report on its Riley Brook Project entitled 43-101F Report - The Riley Brook Property Northwestern New Brunswick Victoria County. The Riley Brook Project a sizeable 309 km2 copper-gold property located within the highly prospective Appalachian geological province, a region where several recent major gold discoveries have occurred such as New Found Gold’s Queensway Project. Riley Brook was an acquisition by claim staking of 1,404 claim units in New Brunswick, located approximately 25 kilometers south of Puma Exploration’s Williams Brook Project and which is currently the subject of a recently announced agreement with Lode Gold Resources Inc. (refer to Fancamp press release dated August 27, 2024).
The Riley Brook 43-101 technical report describes the geology, historical work and proposes a further work program to identify potential copper-gold mineralization.
The report has outlined the potential for low and intermediate sulphidation epithermal deposits (Cu-Au) as well as potentially associated deeper seated porphyry systems.
The Riley Brook 43-101 technical report was a critical next step in the Project’s development, given that Riley Brook’s potential and land package has been consequently expanded with the incorporation of the adjacent McIntyre Brook mineral property (111 km2), as a result of the agreement with Lode Gold Resources Inc. for the joint advancement of certain mineral properties. The Riley Brook Project is located in one of the largest and underexplored land packages in New Brunswick, situated between the Rocky Brook Millstream Fault and Woodstock-Catamaran Fault, within a new prospective area for both copper and gold mineralization.
The technical report can be found under the Company’s profile on SEDAR+ (www.sedarplus.ca) and on the Company’s website (www.fancamp.ca).
Qualified Person
The technical information contained in this press release was reviewed and approved by François Auclair, P.Geo, M.Sc. Vice President Exploration of Fancamp, a Qualified Person under National Instrument 43-101.
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 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 generating 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, exploration and complementary technology experience.