Fancamp Adds to Cunningham VMS Property
VANCOUVER, British Columbia, Jan. 15, 2019 (GLOBE NEWSWIRE) — Fancamp Exploration Ltd. (“Fancamp” or the “Company”) (TSX VENTURE: FNC) wishes to announce the acquisition of an additional claim block adjoining the Cunningham property located some 140 km SW of Timmins, Ontario bringing the total area of the property to some 4800 acres. Terms of the acquisition to a 100% interest are as follows; $5,000 on signing plus the issuance of 200,000 fully paid up shares of Fancamp Exploration Ltd. A final payment of $10,000 is due on the first anniversary. These terms include a 2% NSR with a buyback of 1% for $1M.
The Cunningham property was originally targeted on the basis of its regional geological setting favourable to VMS occurrences. The Shunsby deposit, is a significant copper zinc occurrence, and lies immediately to the east of the property. Upon reviewing the data in the area it was realized the practically unexamined felsic intrusives in the area also hosted anomalous gold values, hence this acquisition. The Company intends to fly the area with VTEM before the upcoming field season.
This release was written by the Company’s QP, Peter H. Smith, PhD, P.Eng.
Fancamp is a public company using a value added strategy predicated on the acquisition of potentially valuable assets, adding value through the selection process itself and subsequent development work, self-financed or otherwise, followed by disposition, proceeds from which, are used to finance the same process multiple times. The Company has an exceptional inventory of resource properties in Québec, Ontario and New Brunswick; commodities of interest include gold, base metals, chromium, titanium, iron and silica. In addition, the Company has begun to build on the industrial possibilities inherent in dealing with some of these materials. The Company is a reporting issuer in British Colombia, Ontario and Québec and its common shares are listed for trading on the TSX Venture Exchange under the symbol FNC.
Peter H. Smith, President.
For further information, please contact
Peter H. Smith PhD., P.Eng.(Ont) – President 1-514-481-3172
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