Fancamp obtains exceptional results from selected grab samples and completes airborne magnetic survey at DiLeo property in Frotet-Troilus area of Québec

VANCOUVER, British Columbia, Aug. 04, 2020 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSXV: FNC) is pleased to announce the results of a property examination and the completion of an airborne magnetic survey on its 15-claim, 815-hectare DiLeo property. The property is in the Frotet-Troilus area of Central Québec approximately 100km north of Chibougamau. There has been a resurgence of exploration in this area over the last two years with major projects initiated by Kenorland Minerals Ltd. (funded by Sumitomo Metal Mining Canada Ltd.), Troilus Gold Corp., UrbanGold Minerals Inc. and X-Terra Resources Inc. The mineral potential of the area is highlighted by Kenorland’s recent discovery of a significant new gold system at its Regnault prospect, located 10km due south of DiLeo, where multiple gold-bearing drill intersections were just announced including 8.47 grams per tonne gold (“gpt Au”) over 29.0m from 72.0 m (Kenorland press release dated July 29, 2020).

The DiLeo property has been held by Fancamp since the early 1990’s but it is only recently accessible by gravel logging roads. Previous work in the mid-1990’s returned significant copper, silver, zinc and gold values on surface and drilling as detailed in Fancamp’s press release dated June 17, 2020.

The property examination was conducted June 24 and 25, 2020 by Mark Fekete, P.Geo. accompanied by veteran prospector Randon Ferderber, both of Val-d’Or, Québec. The “DiLeo” showing was visited and basic prospecting and sampling was done elsewhere on the property. Seven selected grab samples were collected: four from the DiLeo showing and three at various other locations on the property. The “DiLeo NE” occurrence lies under DiLeo Lake so accordingly it was not visited. However, drill core from this occurrence dating to 1962 was found. Unfortunately, it could not be reliably sampled owing to its very poor condition. The “DiLeo Gold” showing could not be found due possibly to recent logging activity.

Mr. Fekete reports: “The DiLeo Lake showing is well exposed by two road-accessible, mechanical trenches completed by Noranda Exploration Ltd. in 1993. The stripped area of each trench is roughly 40m long by 20m wide and is marked by a rusty gossan. The rocks exposed in the trenches consist of a 10 to 15m-wide band of intensely sheared felsic tuff within less deformed tuff. The rocks all show strong pervasive chlorite-carbonate alteration. Isoclinal folding was noted at several places. There appears to be two sulphide horizons that that pinch and swell from 2 to 3 metes wide for a continuous length of 20 to 25m in each trench. The mineralization consists of disseminated to stringer to massive sulphide composed mainly of pyrite and chalcopyrite. Minor sphalerite and zinc-oxide was noted and malachite staining is common. Narrow quartz-carbonate veins were also noted adjacent to the sulphide horizons. One selected grab sample was taken from each sulphide horizon in each trench. The samples returned very strong values ranging from 1.10% to 13.85% copper, 6 to 130gpt silver and 1.72 to 8.65% zinc. Weak to moderate gold values ranging from 0.05 to 1.12gpt Au were also reported. The single best sample returned 13.85% Cu, 130gpt Ag, 8.65% Zn and 0.17gpt Au. Due to the exceptionally high copper tenor of this sample, it was re-assayed twice. A check from the first pulp of this sample returned 14.44% Cu, 132gpt Ag, 8.81% Zn and 0.30gpt Au. A check from a separate, second pulp returned 14.16% Cu, 131gpt Ag, 8.72% Zn and 0.21gpt Au. None of the three samples collected elsewhere on the property returned any notable values.”