Fancamp to explore Mattagami gold bet

Although the 130-claim property has been subjected to only minimal exploration, assays from a sampling program have been encouraging.

According to President Peter Smith, the property covers a strongly conductive volcanic-sedimentary succession which is part of a sequence of rocks hosting Inco Ltd.’s (TSE) Horden Lake deposit.

Situated about 12 miles to the southwest, the Horden deposit holds about five million tons of grade 1.47% copper, 0.3% nickel, 0.50 oz silver and 0.02 oz gold per ton.

Grab samples taken from an exposed sulphide-rich exhalite horizon assayed as high as 3.74 oz gold, Smith says. Channel sampling along some 80 ft of strike length has also yielded the following values: 0.11 oz gold and 2.17 oz silver over 6.1 ft, 0.02 oz gold over 4.2 ft, 0.19 oz gold over 4.9 ft, including 0.48 oz gold over 1.8 ft.

Smith says the horizon has been traced for about two miles along strike, and four miles of favorable horizon exist on the property.

Values ranging as high as 0.23 oz gold have been reported on a block of 101 claims immediately adjoining the Lac Marcaut property to the northeast. Those claims are also held by Fancamp. Diana Resources (VSE), a Montreal-based sister company of Fancamp, also holds 24 claims in the Lac Colomb area, three miles southwest of the Lac Marcaut property.

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