RE: IRON PROPERTIES LOOK GOOD And again new iron results. October 18, 2011 12:12 ET
Fancamp Exploration Intersects 61.4 Metres Grading 30.3% Total Iron at ItsEmerging Lac Lamelee South Project VANCOUVER, BRITISH COLUMBIA--(Marketwire - Oct. 18, 2011) -Fancamp Exploration Ltd. (TSX VENTURE:FNC) is pleased toprovide the first assay results from the Company's drill programme on the 100%owned and previously undrilled Lac Lamêlée South Project, which is located about15 km west of ArcelorMittal's Fire Lake Mine. The three holes reported coversome 300 metres strike length (The Tanguay Zone) on the west end of the 2.4 kmlong Lamêlée Ridge underlain by the hematite/magnetite iron formation. The ironformation in this zone has a -60 degree NW dip, which, to judge from the gravityand magnetic surveys, appears to flatten with depth (currently tested to aboutthe 200 metre level). The intersections cited approximate the thickness of theiron formation in this zone. Drill hole LS-2011-02 intersected 61.4 metres(down-hole core length) grading 30.3% Total Iron ("FeT"), drill hole LS-2011-03intersected 53.3 metres (down-hole core length) grading 29.4% FeT, and drillhole LS-2011-04 intersected 59.2 metres (down-hole core length) grading 31.9%FeT. (Hole LS-2011-01 appears to have been drilled off structure to thewest).
Eastwards from The Tanguay Zone structures become very complex; dips are nearvertical, and the iron formation is repeated due to tight folding. A down-holeiron formation intersection at mid Ridge (in an as yet unreported hole) remainedin iron formation from collar to 351 metres down-hole and was stopped in ironformation due to technical difficulties. The quality of this intersection isvisually, directly comparable to that seen in The Tanguay Zone.
Drilling continues along the entire 2.4 km strike length of the Lamêlée Ridgewith the intent of producing a NI-43-101 inferred resource; sixteen holes havebeen drilled to date and the programme is scheduled for completion at the end ofOctober for an estimated total of 6000 metres; assay results are pending.