VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan. 26, 2015) - Fancamp Exploration Ltd. (News - Market indicators) ("Fancamp") announces that recent compilation work by Joël Dubé of Dynamic Discovery Geoscience for Fancamp Exploration has shown that the reported VMS style mineralization on the Oxford Brook property (grab samples up to 60 g/t Ag, 9% Zn, 3.4% Pb, 3 g/t Au; see news release of November 19, 2014) is reflected in the results of an historic airborne magnetics, EM and radiometric geophysical survey conducted over this area by the Geological Survey of Canada in 1997.
Across the 23 kilometre long Oxford Brook property 18 significant untested targets have been identified from the survey, five of which (including the discovery outcrop) can be considered as very high priority EM targets associated with magnetic anomalies.
The property is centered on a narrow band of volcanic rocks, traditionally thought to be basaltic to andesitic tuffs and flows. Recently however, visits by J.Walker, mineral deposits geologist of the New Brunswick Geological Surveys Branch confirmed the presence of felsic volcanic rocks and associated subvolcanic intrusives. It is important to note that the volcanic rocks on this project are of similar age to those hosting the productive Bathurst camp VMS deposits 70 km to the east.
The area is readily accessible by road and ground testing of these targets will begin shortly.
On another matter, the company wishes to report the termination of its normal course issuer bid (the "Bid") previously announced on July 4, 2014. Pursuant to the Bid, Fancamp purchased and cancelled a total of 1,795,000 common shares of its capital. The purchases have been made on the open market by Fancamp through the facilities of the TSX Venture Exchange (the "Exchange") in accordance with the Exchange requirements. MacDougall, MacDougall & MacTier Inc. conducted the Bid on behalf of Fancamp.
This release was prepared by Mr.Mike Flanagan, P.Geo, Qualified Persons under NI 43-101 rules. Mike Flanagan (P.Geo.), Vice President of Exploration of the Company, is the non-independent qualified person who has approved the scientific and technical information contained in this news release.
About Fancamp Exploration Ltd. (www.fancampexplorationltd.ca)
Fancamp Exploration Ltd. is a Canadian junior mineral exploration company that continues to evolve into a holder of shares in partner companies together with royalties. These assets enable the Company to generate free cash flow without further shareholder dilution. The Company has an exceptional inventory of resource projects at various stages of development in three provinces. The commodities include gold, base metals, chromium, titanium and iron.
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.
