Fancamp drills 3.30% copper over 3.15 metres at Clinton, Quebec

Fancamp Exploration Ltd. [FNC-TSXV] reported high-grade copper assay results and extension of previously recognized copper and gold mineralization from its 2022 winter drilling program at its 100%-owned Clinton project in the Eastern Townships of Quebec, which is among the top jurisdictions globally in terms of attractiveness of exploration investments (Annual Survey of Mining Companies 2021, Fraser Institute).

A total of 1,294 metres in 6 holes were drilled in February and March 2022. Historical drilling of over 60,000 metres has been reported in SIGEOM (Quebec Ministry of Mines Database). The drilling program was a success, with Clinton Historical Lens “A” being extended to a minimum of 100 metres along strike, at shallow depth.

Fancamp is very encouraged by these results and plans to follow up with further drilling to better assess the size, grade and continuity of the copper bearing lenses. This is in line with the Corporation’s strategy to unlock shareholder value from its extensive concessions portfolio with focus on creating a project pipeline of gold rich base metal projects.

Highlights include Hole CLDD-22-02 that returned 3.15 metres of 3.30% copper and 12.64 g/t silver, effectively extending historical lens “A”, mineralization an additional 100 metres along strike, across depths to 50 metres below the surface.

Hole CLDD-22-03 returned 2.00 metres of 0.54% copper, a down-dip extension from the intersection in hole CLDD-22-02. Further assays are pending.

Fancamp, after review of the 3D modelling, initiated a drill program to both test a VTEM plate anomaly situated some 100 metres northeast of a copper-bearing mineralized lens to expand the lens along strike.

Positive results were achieved, with Clinton Historical Lens “A” being extended to a minimum of 100 metres along strike, at vertical depth of less than 50 metres below surface. Historically, 5 copper-bearing mineralized lenses have been identified, at the contact of the volcanics and the sediments. Fancamp’s recent drill campaign has resulted in two of these lenses, A and B, being considered as a contiguous mineralized zone. These lenses are aligned along a N30 strike at a regular interval. The 3D modeling and the 2022 drilling program suggest that the lenses could be connected, thus potentially forming a larger mineralized volume.

The Clinton Project is underlain by a folded and faulted bimodal volcanic sequence. It hosts a series of copper-zinc precious metals volcanogenic massive sulphide mineralization lenses extending over a 5 km northgeast horizon. The project is situated approximately 20 km southwest of the town of Megantic, immediately north of the Maine border.

From inception of exploration in the early part of the 20th century, the property has been the site of multiple exploration programs. Since 1953, some 62,354 meters of drilling in 297 holes was performed.

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% copper and 1.54% zinc.