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Fancamp Exploration Announces Strategic Acquisition of Riley Brook Claims in New Brunswick Prospective Copper-Gold Region
VANCOUVER, British Columbia, July 08, 2024 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, July 08, 2024 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to announce the recent acquisition by claim staking of 1,404 claim units in New Brunswick, the Riley Brook property, located approximately 25 kilometers south of Puma Exploration’s Williams Brook Project. Riley Brook is located within the highly prospective Appalachian geological province, the location of several recent major gold discoveries such as New Found Gold’s Queensway Project. Fancamp’s staking of the Riley Brook property, as part of its grassroots generative program, is highly strategic given its jurisdiction within a new prospective area for both copper and gold mineralization over a large area with underexplored potential for gold mineralization associated with an underlying geology of Devonian volcano-sedimentary stack belonging to the Wapske Formation (click here to access the image). The Riley Brook property is located in a recognized mining-friendly jurisdiction with a sizeable land package of approximately 309 km² situated between the Rocky Brook Millstream Fault and Woodstock-Catamaran Fault. Both are major orogenic structures in the Appalachian region, potentially serving as significant controls for gold deposition and other types of mineralization. Such structures are key to large orogenic gold deposits in the Appalachian, exemplified by New Found Gold’s Queensway Project. François Auclair, Vice President Exploration of Fancamp Exploration comments, “With this new addition, Fancamp has established a notable land position in one of the most attractive mining jurisdictions in Canada, demonstrating the Corporation’s expertise in adeptly delineating what could transform into a future flagship project. This property has seen little modern exploration and will allow Fancamp’s technical team to conduct systematic exploration, within a highly prospective mineralized trend which has demonstrated significant Cu-Au mineralization.” A compilation of historical work indicates the presence of zinc, lead and/or silver of the intermediate sulfidation type throughout the property in areas such as Mable Brook, Stewart Peaks South and Blue Mountain Lake (click here to access the image). Alteration characteristic of epithermal type mineralization, suc...