Fancamp's Lac Lamelee South Project-199m Grading 28.4% FeT
(firmenpresse) - VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 12/12/11 -- Fancamp Exploration Ltd. (TSX VENTURE: FNC) is pleased to announce additional positive assay results from Lac Lamelee South Deposit. Assays from the final three holes of the 2011 drilling program, in addition to the results released on December 1, 2011, continue to intersect high grade magnetite and hematite iron formations and indicate that this property has the potential of significant tonnages in this important iron ore district. Other properties in the area include the operating ArcelorMittal Fire Lake Mine and the adjacent CHM/FNC Fire Lake North project with its newly released NI 43-101 resource of 1061.3 Million tonnes (at) 28.8% total iron, measured, indicated and inferred.
Drill hole LS-2011-15 intersected two significant intersections of 41.4 metres (m) grading 38.5% Total Iron ("FeT") from 4.0m - 45.4m, followed by 18.6 metres grading 29.0% FeT from 45.4m - 64.0m, and 49.5 metres grading 22.3% FeT from 106.5m - 156.0m, followed by 49.2 metres grading 26.2% FeT from 156.0m - 205.2m.
Drill hole LS-2011-16 contained 199.0 metres grading 28.4% FeT from 99.0m - 298.0m, including 142.9 metres grading 30.4% FeT from 139.1m - 282.0m.
Drill hole LS-2011-17, intersected only a portion of the mineralized stratigraphy, yet contained an intersection of 91.0 metres grading 26.6% FeT from 6.0m - 97.0m with two higher grade magnetite iron formations, of 21.4 metres grading 31.5% FeT from 6.0m - 27.4m, and 11.5 metres grading 32.6% FeT from 46.5m - 58.0m.
The drill program was completed on October 23, 2011, with a total of 5,613m in 17 drill holes. The adjoining table summarizes the results of the complete 2011 drilling program. Further drilling is planned for 2012 with the objective of establishing inferred and indicated resources for this significant iron deposit.
This news release was prepared by the Company's QP Mike Flanagan, P.Geo.
ON BEHALF OF THE BOARD
Peter H. Smith, PhD., P.Eng., President
Some of the statements contained in this release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties.
S.E.C. Exemption: 12(g)3-2(b)
Note: To view the table associated with this release, titled "Summary of Lamelee South 2011 Drilling Results", please click the following link: .
No stock exchange or securities regulatory authority has reviewed or accepted responsibility for the adequacy or accuracy of this release.
Contacts:
Fancamp Exploration Ltd.
Peter H. Smith, PhD., P.Eng.
President
514-481-3172
Bay Street Connect Investor Relations
Michael D'Amico
647-500-6023
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Datum: 12.12.2011 - 19:18 Uhr
Sprache: Deutsch
News-ID 96099
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contact information:
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VANCOUVER, BRITISH COLUMBIA
Kategorie:
Mining & Metals
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