Fancamp Files Technical Report on New Brunswick Riley Brook Project in Prospective Copper-Gold Region
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.
Further information of the Company can be found at: www.fancamp.ca
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 Canadian securities legislation. Such forward-looking statements herein include, without limitation, statements regarding the proposed Riley Brook exploration program, the Company’s expectations in respect of the Company’s various investments in, and joint venture with, other mineral exploration and development companies; the Company’s 2024 exploration program; the Company’s anticipated advancement of its titanium technology; and the timing and result of various activities. Statements including forward-looking statements are made as of the date they are given and, except as required by applicable securities laws, the Company 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.
Forward-looking statements are based on assumptions management believes to be reasonable, including but not limited to: the continued operation of the mineral companies in which the Company has invested, the Company’s ability to maintain its current percentage shareholdings in such companies, the conditions in general economic and financial markets; the price of gold, silver and titanium; timing and amount of expenditures related to the Company’s exploration programs; the availability of additional financing; and the availability and costs of mining equipment and skilled labour.
Forward-looking statements involve known and unknown involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the Company to be materially different from those expressed or implied by such statements. Such factors include but are not limited to changes in the operations of the mineral companies in which the Company has invested; changes in the Company’s shareholdings in such companies; results of exploration activities; interpretation of survey and testing results; financial risks due to precious metals prices; operating or technical difficulties in mineral exploration activities; the speculative nature of mineral exploration; risks in obtaining necessary licenses and permits; general market and industry conditions; and the availability of additional financing. Although the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements, there may be other factors that cause results to be materially different from those anticipated, described, estimated, assessed or intended. There can be no assurance that any forward-looking statements will prove to be accurate as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.
For Further Information
| Rajesh Sharma, President & Chief Executive Officer +1 (604) 434 8829 info@fancamp.ca Tara Asfour, Director of Investor Relations +1 (604) 434 8829 tasfour@fancamp.ca | Debra Chapman, Chief Financial Officer +1 (604) 434 8829 info@fancamp.ca |
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