Fancamp Resources Ltd -
Extensive mineralization discovered on Lac Mechant property
Fancamp Resources Ltd FNM
Shares issued 15,800,000 1998-09-29 close $0.16
Thursday Oct 1 1998
Mr. Peter Smith reports
On the company's 100 per cent owned, 480 claim Lac Mechant property, extensive nickel, copper, cobalt mineralization was discovered along a major east-northeast trending fault/conductive zone, 40 kilometres northeast of Sept-Iles on Quebec's North Shore. The mineralization, grab samples of which assay up to 1.1 per cent nickel, occurs in an interval of about 1.5km along the fault.
This occurrence has potential, given the fact that the Lac Mechant area is singularly anomalous in nickel on a regional scale. In 1997 Kennecott carried out regional geochemical reconnaissance, in the form of lake bottom sediment sampling, taking approximately 330 samples over 480 square kilometres of the prospective Matamec intrusive complex. Of a total of seven 99th percentile sample sites, six lie in the 16 square kilometre Lac Mechant sector of the company's property.
(c) Copyright 1998 Canjex Publishing Ltd. canada-stockwatch.com
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