Fancamp Exploration Ltd. announced the launch of a planned 2,750-metre exploration drill program on its wholly-owned Clinton Project, a highly prospective property positioned in a region which has a proven mining history and host to numerous copper mines, in a copper-zinc endowed geological province with some of the biggest volcanogenic massive sulfide (VMS) systems in the world. Given recent exploration program success at both Clinton and Stoke projects during 2022, the Corporation rides a strong momentum to make subsequent discoveries and further develop two Cu-predominant projects during a time when the copper market is set to rise significantly. The Clinton copper project located in Quebec’s Appalachian region, in Fancamp’s opinion, is one of the better risk/reward exploration plays in the sector.

The recently initiated drill program at Clinton will target the potential extension of the massive sulphide “A” lens situated in the northern part of the property where Fancamp’s 2022 drill program successfully validated the extension of the “A” lens to a minimum of 100 metres along strike and at shallow depth, through a 6-hole, 1,294-metre drill program which notably intersected 3.15 metres at 3.30% Cu and 12.64 g/t Ag. The drill program will also target the southern extension of a favorable geological horizon which hosts the past producing Clinton “O” mine and the known massive sulphide lenses containing historical non-compliant NI 43-101 resources of 1.52 Mt at 2.02% Cu and 1.54% Zn (MRNFQ Fiche de Gite 21E07-0007), an area where known copper mineralization had been identified across past exploration work and recent drill programs completed during Spring 2022. The programs completed on the Clinton Project to date have given the Corporation’s technical team a better understanding of the project and highlighted the potential of expanding the footprint of known mineralization beyond the previous limits.

Fancamp is encouraged to continue to explore this project and build on the vast data collected, given previous significant intersections of sulphide copper mineralization across various lenses and extensions, including 3.0 metres at 0.72% Cu, 2.87 g/t Ag and 0.02 g/t Au (refer to press release dated August 17th, 2022). Clinton remains a priority exploration property given that it hosts a series of Cu–Zn rich VMS mineralization lenses extending over a 5-kilometre north-east horizon and encompasses around 20 kilometres of favorable stratigraphy within the Clinton River volcano-sedimentary belt, where previous work indicated most mineralized lenses at Clinton are open at depth and some lenses (such as lenses A and E) remain open along strike. Fancamp aims to advance promising projects such as Clinton in order to maximize shareholder value through reliable compilation and interpretation of data collected across various geophysical surveys, and supported by historical work, which in this case further validates that the Clinton Project hosts significant sulphide copper mineralization potential.