Fancamp Exploration Ltd. has declared that it has submitted an independent technical report titled “Clinton Cu-Zn Property, Lac Mégantic, Quebec – 43-101 Technical Report” dated November 18th, 2024, with an effective date of September 26th, 2024, for the company's 100%-owned Clinton copper (Cu)-zinc (Zn) property. André Ciesielski, P. Geo, wrote the technical report, which was completed in compliance with National Instrument 43-101: Standards of Disclosure for Mineral Projects.
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The Clinton Project is a 7,470-hectare VMS (Volcanogenic Massive Sulphide) property in the Eastern Townships of Québec. The region is known for its high-grade base metal potential, as evidenced by past-producing mines along a 130-kilometer trend. The Clinton Project is situated in a Siluro-Devonian thrusted and folded volcanic and sedimentary environment with VMS Cu-Zn-Pb mineralized horizons.
The Technical Report describes the historical exploration work completed on the Clinton Project, which included prospecting, geophysics, and drilling in the 1950s and 1960s. Seven major massive sulfide lenses (A, B, C, D, E, F, and V) were discovered in the north and center of the property, as well as minor ones further south.
From 1973 to 1975, a mine was established to explore lens O and recover 126,000 tons of material with an average grade of 2.74% Cu, 2.86% Zn, 0.53% Pb, and 30.79 g/t Silver (Ag).
The Technical Report reveals a previous mineral estimate of 1.8 Mt @ 2.02% Cu and 1.54% Zn, including 20% dilution, for five mineralized lenses. This historical mineral estimate predates NI 43-101 rules and the 2014 Definition Standards for Mineral Resources and Mineral Reserves published by the Canadian Institute of Mining, Metallurgy and Petroleum (CIM).
This historical estimate should not be relied upon since a qualified individual has not finished enough work to designate it as current mineral resources or mineral reserves. The author or company does not treat the historical estimate as current mineral resources or reserves. To validate the historical estimate, a qualified individual must examine the historical data and any work done on the Clinton Project since the historical estimate date and finish a new mineral resources technical report.
This historical estimate is relevant to current exploration operations. The company and the Technical Report’s author see it as a conceptual representation of the possible size and grade of the copper-zinc deposit in the region. Since the methodology has not been made public, the author of the Technical Report cannot evaluate the estimate’s dependability.
Due to the lack of original data, reports, and other essential material, the main assumptions, factors, and techniques utilized to create the historical estimate are unknown. According to the CIM Definition Standards, the Clinton Property does not now possess a mineral resource or reserve.
Mineralized lens A and mineralized lens E, which carry primarily Cu and minor Ag, as well as a significant conductive induced polarization anomaly defined to the south, were successfully extended further north and at depth as part of the company’s recent exploration work on the Clinton Project, which sought to identify potential Cu mineralization.
The Technical Report also suggested further work on the Clinton Project to expand on previously identified mineralized lenses or find new ones. One proposal was a deep-penetrating gravity survey, followed by a drilling program to test the newly created targets at depth.