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Fancamp Exploration Reports on Shining Tree Gold Property Exploration Program Joint Venture with Platinex
VANCOUVER, British Columbia, May 18, 2023 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased t
About this update from Fancamp Exploration Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, May 18, 2023 (GLOBE NEWSWIRE) -- Fancamp Exploration Ltd. (“Fancamp” or the “Corporation”) (TSX Venture Exchange: FNC) is pleased to share the recent program updates and announcement made by Platinex Inc. (CSE:PTX) (“Platinex”) with regards to the Shining Tree Gold Property, in which the Corporation holds a 25% interest through South Timmins Mining Inc. (\"Goldco\"), a joint venture with Platinex Inc. (refer to news release dated March 14, 2023). GoldCo’s Shining Tree Gold Property is strategically located in the South-West region of the Abitibi Greenstone Belt, the world's largest 2.7-billion-year-old mineral-rich greenstone geological belt, which hosts numerous major gold and base metal deposits, and predominant gold producers (refer to Figure 1). Fancamp is encouraged by the timely commencement of the exploration program at the Shining Tree Gold Property which follows on Platinex’s 2022 reconnaissance geochemical and prospecting programs (refer to Platinex Inc. release dated December 7, 2022) and the recently announced joint venture between the Parties in relation to the advancement of properties in the Abitibi Greenstone Belt through GoldCo. Part of Fancamp’s mission is to invest in highly prospective projects and near-term producing assets in order to monetize and generate meaningful returns for shareholders. The Shining Tree Gold Property is of great significance to Fancamp given the geological and regional aspects of its location and the previous work conducted by Platinex which delineated areas of interest which could result in high-grade mineralization potential. Platinex, operator of the Shining Tree Gold Property, is now focused identifying new gold targets in highly prospective but underexplored regions of the 225 km2 land package, with initial work to commence in highly prospective Areas 2 and 3. From previous work programs conducted by Platinex, these targets indicated several anomalous soil samples with gold values that coincide with the probability that Au-mineralization may be present (refer to Figure 2 and Platinex Inc. press release dated May 17, 2023). For further information on the exploration program operated and led by Platinex at the Shining Tree Gold Property, and reference to previous work conducted on the property as referenced above, refer to pres...