AIlliance Industriale
posted on
Jul 30, 2011 09:54AM
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
Company Snapshot
Total Shares Outstanding (M) 74.68
Options & Warrants (M) 21.27
Fully Diluted (M) 95.95
Share Price ($) 0.36
90-Day Avg Volume 155,417
52 Week High – Low ($) 0.78 – 0.30
Fully Diluted Market Cap ($M) 34.54
Cash ($M) 8.1
Working Capital ($M) 17.5
Management & Directors
Peter H. Smith Ph.D, P.Eng. President &
Director
Debra Chapman Secretary &
Director
Gilles Dubuc Director
Michael Sayer Director
Fouad Kamaleddine PhD,P.Eng Director
Robert N. Granger Q.C. Director
Mel DeQuadros PhD, P.Eng. Director
CORE TALK
FANCAMP EXPLORATION LTD (TSX-V : FNC)
July 29, 2011
Fancamp Exploration Limited is a junior exploration company with the
objective of identifying and acquiring mineral prospects of interest
while adding value through the selection process itself, exploration,
joint ventures, or outright sale.
Recent Development – July 27, 2011
UPDATE ON CURRENT EXPLORATION ACTIVITIES
Magpie, Québec
Drilling underway since July 7, 2011;
Targeting historic deposit #2 on which 3 drill holes were
put down by the FNC in 2008;
Expected completion date is the 1st week of September;
Objective is to enlarge on the original indicated and
inferred NI 43-101 resource of 84 Million tonnes at 42.4%
Fe, 10.7%, and 201 Million tonnes at 42.1% Fe;
Program: drilling and sampling approximately 6,000
metres in 25 holes which will cover the 1.6 kilometre
strike length
Lac Lamelee, Québec (Fermont District)
100% owned hematite/magnetite deposit;
3000 m drill program;
Scheduled to begin August 11, 2011;
Objective is to determine the size, scope and quality of the
iron resource;
Identified on the basis of the great strength of its airborne
magnetic signature;
Reported resource of approximately 642,000,000 tonnes at
30% Fe
McFauld’s Lake, Ontario
Total of 828 m drilled;
Assay results are pending
Further drilling required after chromite layers previously
reported did not extend to surface
Stockcharts.com
FANCAMP EXPLORATION LTD. JULY 29, 2011
2 of 2
The Magpie Deposits
48.7% owned with Magpie Mines Inc.;
Massive size: Greater than 1B tonnes of high-grade
open pit rock in a zone only 6 km long and few
hundred meters wide;
Large undeveloped titaniferous magnetite deposits
with a historical non-43-101 compliant resource;
Estimates total 1.1 B Tons @43% Fe and 11%TiO2;
Metallurgical Work Underway to Produce
Economical Marketable Iron Oxide and Titanium
Dioxide Products;
In July 2009, an independent 43-101 compliant
report took a sample and determined that the
historical estimates were mostly correct:
July 2009 Report Tonnes Fe TiO2 Cr
(millions) (wt%) (wt%) (wt%)
Indicated Resources 84 42.4 10.7 1.6
Inferred Resources 201 42.1 10.6 1.5
Source: Company Documentation
Source: Company Documentation
Fermont Iron Property (FIP)
17.5 % retained working interest in Champion Minerals
Inc’s (CHM) FIP and most recently 17.5% of CHM’s
newly acquired Black Dan and East Inlet iron
properties;
FIP is composed of metamorphosed Labrador Trough
rocks including the Sokoman iron formations that host
all known iron ore mineralization and deposits in
northeastern Quebec and Labrador;
18 properties covering 664 km²/250 km iron formation
strike;
Drilling at Lac Lamalée will begin this summer;
1.5 B tones of NI43-101 compliant iron ore resources;
NI43-101 Inferred Resources of 1,550 Mt @ 25.4%;
Historical Resources of 620 Mt @ 30.5% Iron;
Near existing iron ore operations in the established
Canadian iron ore mining camps of Fermont, Quebec
and Labrador City, NFLD;
High quality coarse Hematite and Magnetite
mineralization
Source: http://www.championminerals.com/