VANCOUVER, BRITISH COLUMBIA–(Marketwired – Aug. 15, 2016) – Fancamp Exploration Ltd. (“Fancamp”)(TSX VENTURE:FNC) wishes to announce receipt of the returned Lamêlée Iron Ore Deposit claims. This 100% owned and centrally located asset in Quebec’s Fermont Iron Ore District is well positioned to be development ready, pending recovery of world iron ore markets.
In other matters, the Company continues to hold its 100% owned Koper Lake property, immediately adjoining the Noront’s Eagle One Ni Cu PGM Deposit in Ontario’s Ring Of Fire. The property, under option to Bold/KWG, hosts the Black Horse Chromite Deposit with an inferred, NI 43-101 measured resource of 85.9 million tonnes @ 34.5% Cr2O3. A funding announcement for a permanent Ring of Fire road is expected shortly, and this event will certainly affect development prospects for deposits such as Black Horse.
The Company continues trenching and bulk sampling on its Robidoux and Ste. Marguerite gold properties in western Gaspé, where gold bearing quartz veins and stockworks are exposed at surface. The abundance and variety of gold mineralization associated with major regional faults on both these underexplored properties is such as to warrant further and more detailed exploration programs when funding becomes available.
Prospecting continues on the lithium front with several newly staked properties and the Company is confident of eventual success in this new and potentially important field. The Chibougamau property acquired by staking this past winter was prospected last month but the government reported lepidolite occurrences had been misidentified and bore no relation to lithium.
About Fancamp Exploration Ltd (www.fancampexplorationltd.ca)
Fancamp Exploration Ltd. is a Canadian junior mineral exploration company with an exceptional inventory of properties and related assets. Company policy over the years has been, and continues to be, to reduce risk by bringing in participating partners through sales or options. The resulting shares, cash payments and royalties have enabled the generation of income to continue the process and take advantage of opportunity.
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.
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