https://www.juniorminingnetwork.com/junior-miner-news/press-releases/459-tsx-venture/fnc/97934-fancamp-provides-previously-undisclosed-results-of-past-exploration-programs.html

Fancamp Exploration Provides Previously Undisclosed Results of Past Exploration Programs

VANCOUVER, British Columbia / Apr 27, 2021 / Business Wire / Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to provide updates on its exploration projects.

As discussed on the January 19, 2021 and March 4, 2021 investor calls, the new management team of the Corporation recently completed a strategic review of its properties to reprioritize the project pipeline and develop its resource base through a systematic and efficient approach to exploration, in a clear contrast to the unfocused approach by former president and CEO, Mr. Peter H. Smith. The strategic review process faced delays and difficulties as Mr. Smith withheld technical information belonging to the Corporation.

While conducting the strategic review, the new management team discovered that Mr. Smith failed to keep the Board of Directors and the market informed of the results of the Corporation’s previous exploration programs, raising further questions about his business judgment, adherence to his fiduciary duty, and his commitment to act in the best interest of Fancamp’s shareholders.

Mr. Smith is a disgruntled director, who recently had his consulting agreement terminated for cause, and has initiated an unnecessary, costly and time-consuming challenge to the Corporation’s proposed acquisition of ScoZinc Mining Ltd. at a time when Fancamp’s future is bright and the Corporation is finally set to deliver significant value to shareholders.

In line with industry best practices, the Corporation is pleased to share the following information:

Harvey Hill

The best intercepts from the 66-hole Harvey Hill 2019 program were 1.77% Cu over 9 meters (drill hole HH19-26) and 0.66% over 11 meters (drill hole HH19-05). The best intercept from the 15-hole 2020 program was 0.97% over 2 meters (drill hole HH20-01). A summary of key intercepts is found in Table 1, and drill hole location information is provided in Table 2 (see appendix).

The Corporation’s Harvey Hill project is a past producing, precious metal bearing copper project in the Appalachian region of eastern Quebec. In 2019 and 2020, the Corporation completed 81 drill holes in two campaigns, targeting three near surface mineralized lenses. The mineralized lenses are interpreted as vertically stacked, flat to shallow-dipping zones, extending over more than 425 meters of strike in an east-northeast direction. The zones are interpreted to average two to three meters in thicknesses. Further description of the Harvey Hill project and its past production can be found on the Corporation’s at Harvey Hills Project (fancamp.ca). More detailed interpretation of this data is planned for later in 2021.

Table 1. Previously unreported drill results for the Harvey Hill project, composite intervals greater than 0.3% Cu.

Boisbuisson

Fancamp’s 2020 field sampling reconnaissance field sampling returned up to 7.54 gpt Au (Table 3) confirming high grades of previous workers.

The Boisbuisson project is located in the Humber Zone, of the northern Gaspe Peninsula. Numerous structure-hosted, base metal bearing precious metal quartz veins occurrences are recorded on the south and central parts of the property. Fancamp has held the Boisbuisson project since 2015 but has completed very little work on the concessions. A description of the Boisbuisson project can be found on the Corporation’s website at Boisbuisson Project (fancamp.ca).

Table 3.

Note: Coordinate system, NAD 83 zone 20.

Ste. Marguerite (Gaspe)

Reconnaissance sampling by the Corporation during its 2015 and 2016 field programs returned up to 8.9 gpt Au over 1 meter from a chip channel sample (sample P134040), and up to 54.9 gpt Au and 10.1 gpt Au from grab sampling (samples 62816 and 62815, respectively) of altered, structure hosted quartz veining in the Sainte-Florence faults zone. Sampling results by the Corporation are provided in Table 4. Silver was not analyzed in these programs. These results confirm high gold grades identified by previous workers on the property.

The Ste. Marguerite (Gaspe) property hosts a linear trend of gold bearing vein occurrences, more than 10 km long. The mineral occurrences are largely hosted by a band of mafic to intermediate volcanic rocks in close proximity to the Sainte-Florence fault, within the Gaspe Belt. Fancamp has held the property since 2015 and has completed minor reconnaissance activities. A description of the Ste. Marguerite (Gaspe) project can be found on the Corporation’s website at St. Margarite (Gaspe) Project (fancamp.ca).

Table 4.

Note 1: Coordinate system, NAD 83 zone 19.
Note 2: All samples are outcrop, unless otherwise noted in the description.

Qualified Person

Jean Bernard, P.Geo, has reviewed and approved the technical and scientific content of this news release. Jean Bernard is a Qualified Person within the description of the Canadian Securities Administrator’s National Instrument 43-101.

The 2019 and 2020 drill programs at Harvey Hill were directed by Jean Bernard. P.Geo, and a Qualified Person in the meaning of NI 43-101. The Boisbuisson and Ste. Marguerite (Gaspe) sampling programs were directed by Jean Bernard. P.Geo, and a Qualified Person in the meaning of NI 43-101.

Quality Control

Assays for the diamond drill programs were analyzed by Activations Laboratories Ltd. in Ancaster, Ontario. The Corporation inserts quality control samples (blanks, standard reference material, and duplicates) at regular intervals to monitor laboratory performance. Standard samples are inserted every 15-20 samples, with additional standard material added to mineralized zones. Reference samples are obtained from OREAS (Ore Research and Exploration P/L ABN) and comprised OREAS 620 (0.173% Cu), and OREAS 624 (3.10% Cu). Blanks are inserted every 15-20 samples and are obtained from a deposit of pure quartzite. Field duplicates are inserted every 20 samples.

Advisors

Lavery, de Billy, L.L.P. is serving as legal advisor to Fancamp. Kingsdale Advisors is acting as strategic shareholder and communications advisor to Fancamp.