Fancamp Announces Acquisition of Two Major Prospective Gold Areas

Fancamp Exploration Ltd. reports that it has acquired, via staking, two main prospective gold regions situated in the Quebec Abitibi region.

In this region, the growth of significant gold discoveries has led to increased activity levels and available mining claims have quickly vanished.

The acquisition scale of Fancamp is significant and such selections by staking depict highly potential gold target regions, unencumbered, and fully owned. The historic exploration datasets, highly accurate airborne geophysics, and most recent lidar coverage have offered fresh insights into these districts, and for any explorationist, huge land positions are crucial to this process.

Three blocks together form the first property group. The northernmost and largest one is denoted here as the North Grasset Block. According to Fancamp, it includes a predominant splay on the Detour or Sunday Lake Deformation Corridor, within which there is a 13 km long, high-strength magnetic trend alike in scale and intensity to the one that hosts the Fenelon Gold and Grasset Nickel deposits about 20 km to the west.

This property is huge and spread across 26,500 ha with a strike length of around 33 km. Except for government airborne geophysical surveys, no other exploration work has been performed on this ground.

The two remaining blocks are considerably smaller and located to the south, where the Grasset Block spreads over a magnetically defined east or west fault trend, and the South Grasset Block covers, again, a range of magnetically defined fault intersections. Even here, there has been no prior exploration.

The second property group denoted here as the NW Abitibi Group spreads over 33,200 ha, covering a collection of claim units currently classified into eight properties. The properties were mainly chosen on a regional structural basis by making use of the present Amex Exploration Inc. gold discovery in Perron Township as a template.

Two of the properties exist inside the “Perron Structural Corridor” and cover around 15 and 30 km strike lengths in its eastern area. The remaining properties lie 15 km to the corridor’s south, with a focus on north/south, northeast/southwest, or northwest/southeast structural trends.

Of note is the fact that exploration has been performed in all the properties almost 100 years ago, and most of them have not been explored in the last 50 years.

Exploration is in progress on the geological and structural characteristics of such acquisitions. Preliminary prospecting was conducted last month, with an additional plan, while continuing to track the Covid-19 situation.

The main Ontario gold projects of Fancamp include Heenan, Mallard, and Cunningham, optioned from Golden Mallard Corp.—Blaine Webster’s geophysical and exploration company. These projects are currently being prospected by Joerg Kleinboeck, P.Geo.

Drilling has been scheduled during this fall on prepared targets on the Heenan and Mallard properties. Of note is a fact that IAMGOLD Corp. has just obtained the main federal approval for its Coté Lake Gold Project some 25 km southeast of Mallard and on strike. A pdf presentation of Heenan, Mallard, and Cunningham is available on the Fancamp’s website.

Additional Quebec gold projects are Dileo Lake, situated in the Troilus District, recently reported by Fancamp (NR17062020) and prospected and sampled by Breakaway Management.

Also, Fancamp’s Appalachian gold prospects are also worth mentioning. The Boisbuisson in eastern Gaspé, a skarn, has just been prospected and sampled by Jean Bernard P.Geo, with VG in gossan combined with zinc and copper mineralization in old Noranda trenches. Tests are awaited.

Moreover, Fancamp has expanded, by staking, the 30 km long Baie Verte Brompton Property in the Beauce, a potential gold distal source in the historic Gilbert River Placer deposits, the site of Canada’s first great gold rush.

Beauce Gold Fields Inc. has recently obtained funds to test a more local source for such placers. A notable fact is that Fancamp retains a 3.5% GMR on any production from such placers and potential bedrock lodes below them.

Fancamp continues to hold the Ste. Marguerite Gaspé and Robidoux gold properties and seeking joint venture opportunities.

The origin of the placer gold in Fancamp’s optioned Edge Exploration Inc. Mactaquac property close to Fredericton, New Brunswick, has not yet been found. The core obtained from the small drill program executed last winter has only just been made available to sample because of Covid-19 restrictions at the government storage facility in Sussex, N.B. The findings of the assay will be released once it is available.

Fancamp takes pleasure in receiving a $20,000 grant, applied for through NBJMAP (New Brunswick Junior Mining Assistance Program), for its Mactaquac Project, this year.

Source: https://www.fancamp.ca/en/