- Fancamp Exploration (TSXV:FNC) has staked two new exploration areas in the Abitibi region of Quebec
- The company’s first new land parcel is made up of three blocks of mineral leases, with the largest comprised of 26,500 hectares
- None of the three block have previously been explored by mining companies
- The second property grouping is made of eight sites, totalling 33,200 hectares, which has seen exploration on and off for the past century
- Fancamp Exploration (FNC) is in the grey and is trading at C$0.065 per share
Fancamp Exploration (TSXV:FNC) has staked two prospective gold areas in the Abitibi region of Quebec.
The company claims the100 per cent owned acquisitions are highly prospective gold target areas. Staking is the process of marking out a greenfield exploration area and applying for a mineral lease on that site.
Fancamp was encouraged to purchase the properties due to recent Lidar and geophysics work as well as a review of historic data.
The first property group consists of three blocks, the most significant of which being the North Grasset Block.
This property sits on a 13-kilometre-long magnetic trend that appears to share significant similarities to deposits on the Fenelon’s property 20 kilometres west.
These properties have never been explored before, except for some government airborne geophysical surveys.
The second property grouping covers over 30,000 hectares of land, which form eight distinct properties. The properties were staked by Fancamp due to their similarities to the Amex Exploration Inc gold discovery, near Perron.
Two of the properties lie within the Perron Structural Corridor that runs through the region. The properties hold between 15 kilometres and 30 kilometres of strike length on the corridor.
This second batch of properties have been explored over the last 100 years. However, Fancamp has stated that many have not been significantly explored for over 50 years.
The junior explorer has conducted some initial prospecting work on some of the properties in June, with further initial prospecting work scheduled for later in the year.
Fancamp Exploration (FNC) is in the grey and is trading at C$0.065 per share at 2:00 pm EDT.