Fancamp Exploration Announces Launch of Drill Program at Clinton Property

VANCOUVER, British Columbia, July 13, 2023 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce the launch of a planned 2,750-metre exploration drill program on its wholly-owned Clinton Project, a highly prospective property positioned in a region which has a proven mining history and host to numerous copper mines, in a copper-zinc endowed geological province with some of the biggest volcanogenic massive sulfide (VMS) systems in the world (refer to Figure 1). Given recent exploration program success at both Clinton and Stoke projects during 2022, the Corporation rides a strong momentum to make subsequent discoveries and further develop two Cu-predominant projects during a time when the copper market is set to rise significantly. The Clinton copper project located in Quebec’s Appalachian region, in Fancamp’s opinion, is one of the better risk/reward exploration plays in the sector.

The recently initiated drill program at Clinton will target the potential extension of the massive sulphide “A” lens situated in the northern part of the property where Fancamp’s 2022 drill program successfully validated the extension of the “A” lens to a minimum of 100 metres along strike and at shallow depth, through a 6-hole, 1,294-metre drill program which notably intersected 3.15 metres at 3.30% Cu and 12.64 g/t Ag (refer to press releases dated June 14^th, 2022, and August 17^th, 2022).

The drill program will also target the southern extension of a favorable geological horizon which hosts the past producing Clinton “O” mine and the known massive sulphide lenses containing historical non-compliant NI 43-101 resources of 1.52 Mt at 2.02% Cu and 1.54% Zn (MRNFQ Fiche de Gite 21E07-0007), an area where known copper mineralization had been identified across past exploration work and recent drill programs completed during Spring 2022 (refer to Figure 1).

Results of the IP survey conducted in the winter of 2023 (refer to press release dated March 13^th, 2023) indicated strong potential for the discovery of copper-zinc mineralization in new and under-explored areas of the Clinton Project. The IP survey focused on the southern extension of the Clinton “O” lens and results delineated high-priority anomalies along the targeted favorable horizon consistent with a response from sulphide mineralization, surveyed down to a vertical depth of 300 metres and up to 5.5 kilometres south of the current known massive sulphide lenses, an area of which Fancamp believes remains significant discovery potential.