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fancamp exploration ltd (FNC) Snapshot

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02/24/14 - C$0.12
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fancamp exploration ltd (FNC) Details

Fancamp Exploration Ltd., an exploration stage company, engages in the exploration of mineral properties in Canada. It explores for hematite magnetite iron formations, titaniferous magnetite and hematite, nickel/copper/PGM, chromite, volcanogenic massive sulphides, and gold deposits. The company owns interests in various mineral properties located in the provinces of Quebec, Ontario, and New Brunswick. Fancamp Exploration Ltd. is headquartered in Burnaby, Canada.

fancamp exploration ltd (FNC) Top Compensated Officers

Chairman, President, Chief Executive Officer ...
Total Annual Compensation: C$102.0K
Chief Financial Officer and Member of Magpie ...
Total Annual Compensation: C$62.5K
Compensation as of Fiscal Year 2014.

fancamp exploration ltd (FNC) Key Developments

Fancamp Exploration Ltd. Reports Assay Results of 5 Intercepts from 3 Holes Recently Drilled on the V Zone of the Clinton Copper-Zinc Project, Eastern Townships (Quebec)

Fancamp Exploration Ltd. reported recent assay results from the V Zone of the acquired Namex Property in the Clinton volcano-sedimentary belt located in the Eastern Townships of southern Quebec near the Maine border. With the revised resource estimate of the V Zone, Fancamp now holds a total of 1.88 million tonnes grading 1.73% Copper and 1.01% Zinc (not NI 43-101 compliant because of the use of historic data) in six distinct zones located in the northern sector of the Clinton volcano-sedimentary belt extending on the Company's property for some 17 kilometres from Lac Megantic Quebec, south to the border with the State of Maine. The Company plans a "Scoping Study" on this zone and the others, to establish whether these resources can generate an economic return. Three holes were drilled on the V Zone and intercepted five mineralized zones. As is common in VMS areas, the mineralized zones at Clinton are clearly associated with a specific layer of the volcanic sequence. Most of the mineralized zones of the Clinton Formation are stratigraphically located at the top of a non-magnetic mafic volcanic unit with minor felsic volcanics, both pillowed and tuffaceous. This unit in turn is overlain by a magnetic mafic volcanic unit with very characteristic magnetic iron beds at the top. Most of the mineralized zones of the Clinton Formation are at the contact between the non-magnetic and magnetic rocks, facilitating exploration and followup. Fancamp believes there remain other undiscovered zones along this favourable contact and the recent drilling along it has also indicated favourable felsic host rocks containing low grade copper and zinc mineralization.

Fancamp Exploration Ltd. Auditor Raises 'Going Concern' Doubt

Fancamp Exploration Ltd. filed its Annual on Aug 28, 2014 for the period ending Apr 30, 2014. In this report its auditor, Meyers Norris Penny LLP - MNP LLP, gave an unqualified opinion expressing doubt that the company can continue as a going concern.

Fancamp Exploration Ltd. Appoints Mark Billings to Board of Directors

Fancamp Exploration Ltd. announced that effective August 15, 2014, Mr. Mark Billings has been appointed to the Board of Directors. Mr. Billings recently served as a Director and as Senior Vice-President, Corporate Development of Argex Titanium Inc., a company he co-founded in 2007. Prior to founding Argex, Mr. Billings served as Chief Financial Officer for private and public Internet companies from 2000 to 2004. Mr. Billings has been appointed to fill the vacancy created by the resignation of Mr. Ali Al Hazeem. Mr. Hazeem has been appointed to the Company's Advisory Board where he will continue to provide guidance and support to the Company.


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