NOT slammed on neighbour's results.......
Fancamp finds peridotite, dunite in early drilling
Fancamp Exploration Ltd (C:FNC)
Shares Issued 27,530,981
Last Close 9/9/2008 $1.12
Wednesday September 10 2008 - News Release
Dr. Peter Smith reports
PRELIMINARY RESULTS; FANCAMP C-1 DRILL PROGRAMME
Fancamp Exploration Ltd. has released preliminary results (visuals) from three drill holes on its McFauld's Lake property adjoining the Noront Resources Inc. Eagle One discovery.
Hole 1, drilled at 50 degrees to 270 degrees azimuth, intersected serpentinized peridotite and dunite over its entire length of 303 metres, as did hole 2, drilled at 70 degrees to 270 azimuth from the same set-up. Trace amounts of pyrrhotite and pyrite were seen in hole 2 including a metre of semi-massive pyrite in a fault zone. Downhole resistivity surveys in these two holes revealed zones of low resistivity beginning at about 135 metres downhole in hole 1 and continuing to the end of that hole, and beginning at about 135 metres downhole to the end of hole 2 at 181 metres. Both these measurements suggest the presence of highly conductive material in the vicinity. Hole 3, drilled at 70 degrees to 90 degrees azimuth, bottomed at 477 metres. Again the hole was entirely in serpentinized peridotite and dunite with trace amounts of disseminated sulphides, mainly pyrrhotite in the lower sectors of the hole. Preliminary ohm-metre testing of some the core in the lower part of this hole indicates a degree of low resistivity that suggests that the peridotite dunite here is itself conductive, but just how conductive is not yet clear.
The important thing to note at this early exploration stage is that the company is within the Eagle One intrusive complex and is dealing with a large, structurally controlled, north-south conductive corridor about 75 metres wide and 500 metres long. The significance of this is that all of the local discoveries to date, Noront's Eagle One and Eagle Two, and AT-12, occur in similar north-south structural environments so that the C-1 target merits close examination. It is worth noting here also that Fancamp has a similar, as yet untested conductive north-south target, located in the eastern part of the property (C-6).
Detailed study and analysis of the core will provide more information about this corridor and its potential to host massive sulphides of the Eagle One type.
The last hole of this program, hole 4, is currently being drilled from the hole 3 set-up at 50 degrees to 90 degrees azimuth to test the conductivity zones picked up in the downhole surveys of holes 1 and 2. Further downhole geophysics will be carried out in hole 3 to test deeper parts of the system.
This release was prepared by Dr. Peter Smith, PhD, PEng, the company's qualified person on the McFauld's project.
© 2008 Canjex Publishing Ltd. |
