Here is the latest news from FNM/FWR on their KSZ property:
FOR FURTHER INFORMATION PLEASE CONTACT:
Fancamp Resources Ltd.
Peter H. Smith, P. Eng.
President
(514) 481-3172
The Vancouver Stock Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this release.
NEWS RELEASE TRANSMITTED BY CANADIAN CORPORATE NEWS
FOR: FANCAMP RESOURCES LTD.
S.E.C. Exemption: 12(g)3-2(b)
VSE SYMBOL: FNM
FEBRUARY 21, 1997
Fancamp Resources Ltd. - Exploration Continuing in
Botswana
VANCOUVER, BRITISH COLUMBIA--The Company wishes to announce the
results of the initial percussion drill program on two magnetic
targets associated with the Kalahari Suture Zone ("KSZ") in
western Botswana. The targets are situated on the
Fancamp/Freewest Southern Block. A large complex magnetic
anomaly, some 7 km long and up to 3 km wide, is associated with
major north-south and northwest trending faults and is located in
the eastern sector of the Southern Block. Five holes totaling
approximately 700 metres intersected magnetite-hematite-chlorite
alteration associated with hydrothermal breccias at shallow depths
(20 to 50 metres below surface). Although no anomalous base or
precious metal values were returned from these holes, management
is extremely encouraged at intersecting indications of extensive
hydrothermal activity on the KSZ, in this initial exploration
phase. The association of magnetite-hematite- chlorite alteration
with hydrothermal breccias is, for example, typical of many large
copper/gold deposits.
A large magnetic-gravity target in the western sector of the
Southern Block was also drilled. The hole was completed to 347
metres but was abandoned short of its target because of heavy
groundwater inflow.
Ground geophysical surveys over both the target areas drilled on
the Southern Block and on targets in the Central and Northern
Blocks are underway in preparation for further drilling.
Geophysical modeling of magnetic and gravity data over the "Red
Spot" target has indicated a magnetic source at about 600m depth
with a coincident gravity anomaly. However, recent Radarsat
images have indicated a remarkably similar surface expression of
the magnetic anomaly. There appears to be a ring fracture
associated with the margin of the magnetic anomaly which is
reflected on the Radarsat image. The Company is currently
prospecting the "Red Spot" for indications of potential leakage
anomalies associated with the ring fracture (copper-gold-uranium,
etc.) prior to drilling. Both magnetic and Radarsat data indicate
that the "Red Spot" is controlled by major faults and is itself
structurally complex.
Geological and magnetic compilations have been completed on the
Company's wholly owned Okwa Block and a prospecting crew is
presently in the field. Examination and sampling of rock chips
from approximately 50 water-wells previously drilled by the
government is underway and a major airborne EM survey is being
planned.
The Company is also proceeding with ground geophysical surveys
prior to drilling on targets on its wholly owned Gemsbok Block.
The Company also wishes to report that BHP Minerals Canada Inc.
has withdrawn from its option agreement on the Company's 475 claim
Johan Beetz property on Quebec's North Shore. Management feels,
however, that this property has ample untested potential,
including the original Rustcliff copper-gold showing which has
never been drilled and intends to carry out an airborne EM survey
to be followed by diamond drilling.
ON BEHALF OF THE BOARD
"PETER SMITH"
Peter Smith
President
The Company's news releases can be retrieved on the Internet
through CCN NewsNet at cdn-news.com.
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