VANCOUVER, British Columbia, March 03, 2025 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX Venture Exchange: FNC) is pleased to announce initial exploration results of Acadian Gold, a joint venture with Lode Gold Resources Inc. for the advancement of a district scale, 445 km² under-explored land package, located in a highly prospective region for gold and polymetallic mineral discovery, in northern New Brunswick.
The integration of soil geochemistry and geophysical data has indicated the potential for highly prospective mineralized systems at McIntyre Brook, and defined new targets which would be subject to further exploration in 2025. These results build positively on previously announced findings and enhance the potential for a gold-copper discovery at McIntyre Brook.
The results received from a soil geochemical survey conducted in November 2024 in the northeast area of the McIntyre Brook property, in close proximity to a series of EM conductors revealed from the fall HeliTEM² survey (refer to press releases dated October 18, 2024, and January 20, 2025), indicates the potential for a near source of gold mineralisation.
Highlights
The Heliborne HeliTEM² Survey revealed, among other aspects, the presence of a series of EM conductors in the northeastern part of the McIntyre Brook Property, which create an open ellipsoid over a significative area (refer to Figure 2).
The initial soil geochemical survey conducted in November 2024 at the periphery of the southeast and northeast area of the conductors revealed the presence of gold-in-soil anomalies associated with Arsenic (As), Antimony (Sb) and Tungsten (W) anomalies.
The area is also characterized by a 275 ppb Au stream sediment downstream from the conductive area. This sample was the highest value returned from the 1981 regional stream sampling program conducted in the area by the Geological Surveys Branch of New Brunswick.
These new results from McIntyre Brook reveal coincident gold-in-soil anomalies and prominent electromagnetic conductors, significantly enhancing the potential for a substantial gold-copper discovery. These promising targets are situated within the geologically favorable Wapske Formation, structurally defined by the McIntyre Brook and Ramsay Brook faults. Furthermore, analysis of new HeliTEM² magnetic and radiometric data has identified additional faulting and a coincident elevated radiometric signature, potentially indicative of rhyolites or hydrothermal activity—key indicators of significant gold mineralization in the Wapske Formation. Consequently, this area at McIntyre Brook has been designated a high-priority target for the Acadian Gold's 2025 exploration program, offering considerable potential for a new gold discovery.
François Auclair, VP of Exploration of Fancamp commented, "Our ongoing exploration at McIntyre Brook continues to showcase the district-scale potential of this project, and the positive results received validate the potential to discover gold-copper targets."
With the complete dataset from the 2024 New Brunswick exploration program now received, target generation is progressing, and the 2025 exploration plan will be finalized in the coming weeks.
Acadian Gold McIntyre Brook Airborne Magnetometer and Radiometric with superimposed soil Geochemical and Stream Sediments anomalies.
Figure 1: Acadian Gold McIntyre Brook Airborne Magnetometer and Radiometric with superimposed soil Geochemical and Stream Sediments anomalies.
McIntyre Brook Soil Geochem Results.
Figure 2: McIntyre Brook Soil Geochem Results.
The Acadian Gold Joint Venture between Fancamp Exploration and Lode Gold Resources was the recipient of a $100,000 grant from the 2024 New Brunswick Junior Mining Assistance Program (NBJMAP) for exploration programs on the Riley Brook and McIntyre Brook properties. The funds have allowed Acadian Gold to pursue and develop a successful exploration program in 2024. The Corporation thanks the New Brunswick Department of Natural Resources and Energy Development for this inaugural support.
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 is a Canadian mineral exploration company focused on creating value through medium term growth and monetization opportunities with strategic interests in high potential mineral projects, royalty portfolio and exploration 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 has future monetization opportunities from its Koper Lake transaction in the highly sought-after Ring of Fire in Northern Ontario. Fancamp holds 96% interests in Magpie Mines Inc., which owns the Magpie property, one of the world’s largest undeveloped hard rock titanium (+V) deposits, per USGS data. 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 Inc. in addition to an investment in a near term cash flow generating zinc mine, EDM Resources Inc. in Nova Scotia. 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.
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, has reviewed and approved the technical disclosure contained in this news release.
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 interpretations 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 properties; 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.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies ofthe TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.
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