Fancamp Announces Positive Pilot Test Results for the Production of Synthetic Rutile Concentrate from the Magpie Iron-Titaniu...

Fancamp Exploration Ltd. (TSX VENTURE:FNC) ("Fancamp" or the "Company") is
pleased to announce that its 46.7% owned Magpie Mines Inc., has successfully
completed the Phase 2 Hydrometallurgical Pilot Plant Tests (the "Metallurgical
Tests") conducted at SGS Lakefield Research Limited ("SGS Lakefield") on
mineralized material from the Magpie Iron-Titanium-Vanadium-Chromium Project
("Magpie"). 


The Metallurgical Tests achieved their primary objectives by producing a
high-grade synthetic rutile (titanium dioxide) concentrate, which has the
potential to be used for both titanium pigment and metal producers, and also
confirming that the previous process test results achieved at the bench scale
were well reproduced at the pilot plant scale.


The Phase 1 Hydrometallurgical Bench Scale Tests (refer to the Company news
release dated August 2, 2011) of the proprietary process was carried out by
COREM in Quebec City, and indicated a 94.8% concentrate of titanium dioxide
(TiO2) with leaching recovery of 88.5%. 


The Metallurgical Tests conducted by SGS Lakefield included bench-scale and
pilot-plant testing to fine-tune and further improve the results of Phase 1. The
objectives were successfully reached, resulting in a major improvement in the
process by following one step leaching (instead of two-step leach in Phase 1),
yet attaining superior results in terms of recovery (over 90%) and purity (about
96%) of the TiO2 product using an integrated leaching and TiO2 hydrolysis
circuit that continuously operated for about 100 hours during the week of
December 3 to December 7, 2012. 


These tests confirmed the new process conditions in a continuous operation;
producing and assuring the quality of the filtrate to be used for future works,
such as in the Vanadium and Chromium separation tests, and Fe(2) oxidation/Fe(3)
hydrolysis tests, and reproducing test results achieved at bench scale. Pilot
tests resulted in 95.8% concentrate of titanium dioxide (TiO2) with leaching
recovery of 98.5%, which far exceeds initial bench scale test results.


Dr. Fathi Habashi, PhD, Professor Emeritus of Extractive Metallurgy (Laval
University, Quebec) and a project consultant, stated, "The heart of this new
proprietary process is its simplicity and flexibility. Simplicity in terms of
one-step leaching then hydrolysis and achieving high grade TiO2 product without
involving any additional and energy-consuming (oxidation/reduction) steps to
treat the iron, and flexible because synthetic rutile has the advantage of being
the raw material for pigment as well for metal production. In addition, the
process proved successful for low grade (10% to 12%TiO2) ore, and can be applied
with advantage to higher grade TiO2 ores or concentrates." 


SGS Lakefield is expected to initiate the Phase 3 Metallurgical Tests later this
month and will consist of selective recovery of Vanadium (V) and Chromium (Cr)
using solvent extraction technique. The Phase 4 Metallurgical Tests will consist
of a mini-pilot plant scale test for the production of high-grade iron oxide and
acid regeneration using well established oxy-hydrolysis methods and are expected
to commence later in Q1-2013. 


Fancamp had previously announced that The Magpie Mines Inc., had entered into a
contractual agreement with the Sichuan Non-Ferrous Technology Group ("SNFT") to
carry out beneficiation tests on the Magpie mineralized material (refer to the
company news release dated August 21, 2012). SNFT is a Chinese R&D company with
many years of experience in beneficiating and processing complex
Iron-Titanium-Vanadium ores, similar to Magpie. The objective of the tests are
to produce Iron concentrates from smelting containing Vanadium and Chromium, and
Titanium concentrates from a 1.5 tonnes of samples shipped to China late last
year. Test results are still pending but are expected this Quarter.


Jean Lafleur, MSc, P. Geo., President and CEO of Fancamp, asserted, "There are
basic fundamentals in dealing with industrial minerals - these include the
uniqueness and size of the mineral resource attached to a commercially viable
metallurgical process, its proximity to market and an end-user ready to buy the
ore. In Magpie, we definitely have size with a mineral inventory of 1 billion
tonnes with substantial Iron, Titanium, Vanadium and Chromium credits located
130 kilometres from tidewater. As for the metallurgical test work, it is being
carried out by SNFT with the perspective of large scale production of Iron,
Titanium, Vanadium and Chromium concentrates suitable for smelting purposes,
together with relatively small scale hydrometallurgical production, as part of
the SGS work, using feed from SNFT's TiO2 concentrates and achieving high purity
TiO2 products." 


The Magpie Iron-Titanium-Vanadium-Chrome Project hosts NI 43-101 Indicated
Mineral Resources of 635.2 million tonnes grading 42.49% FeT (60.78% Fe2O3),
11.20% TiO2, 0.30% V2O5 and 2.61% Cr2O3 with additional Inferred Mineral
Resources of 293.2 million tonnes of 42.29% FeT (60.49% Fe2O3), 11.21% TiO2,
0.32% V2O5 and 2.54% Cr2O3 (both based on a 15% FeT cut-off grade) (refer to the
Fancamp news release dated April 18, 2012). 


The technical information in this news release was prepared, reviewed and
approved by Fouad Kamaleddine, PhD, P. Eng., Fancamp's VP of Research and
Development, and Jean Lafleur, MSc, P. Geo., Fancamp's President and CEO. Both
individuals are also Directors of Fancamp and Qualified Persons under NI 43-101
Rules. 


About Fancamp Exploration Ltd

Fancamp Exploration Ltd is a Canadian junior mineral exploration company with an
exceptional inventory of resource projects at various stages of development
covering more than 1,710 km2 in three provinces. The commodities include
hematite magnetite iron formations, titaniferous magnetite and hematite,
nickel/copper/PGM, chromite, Volcanogenic Massive Sulphides and gold. The
Company is focused on enhancing shareholder value by identifying and acquiring
early-stage projects with excellent mineral potential; advancing them to the
next decision stage with efficient exploration; selling, optioning or joint
venturing them to solid partners for cash and shares of the partnering companies
and inheriting a significant royalty on future production. 


About SGS Lakefield Research Limited

Lakefield Research provides metallurgical, analytical, mineralogical and
environmental technical expertise and support to clients from facilities in
Canada, Argentina, Australia, Chile, Brazil, Peru and South Africa. Recognized
world-wide as a premier testing and consulting facility, Lakefield provides
services that range from simple bench scale tests to investigation of complex
flow sheet variables through integrated pilot plant operations. Lakefield
Research analytical and mineralogical laboratory is the only Canadian commercial
laboratory that is accredited to ISO Guide 25, supplemented by CAN-P-1579 for
mineral analysis. 


SGS offers a very broad range of metallurgical process design options that will
reduce risk, enhance value and maximize return. With over 70 years-experience
and a truly global presence, SGS has earned the reputation as the leading
supplier of proven, technologically advanced metallurgical services. SGS will
provide the optimal, environmentally sustainable flow sheet for your operations.
SGS's demonstrated success in metallurgical and process design has provided
thousands of companies with effective flow sheets and practical technical
solutions to processing problems. From that core of capability, we continue to
provide the processing industry with innovative approaches to geo-metallurgy,
process modeling, production forecasting and advanced control systems. 


S.E.C. Exemption: 12(g)3-2(b)

FOR FURTHER INFORMATION PLEASE CONTACT: 
Fancamp Exploration Ltd.
Jean Lafleur, M. Sc., P. Geo.
President and CEO
(514) 975-3633
pjlexpl@videotron.ca


Fancamp Exploration Ltd.
Michael D'Amico
Investor Relations
(647) 500-6023
michaeldamico@rogers.com
www.fancampexplorationltd.ca
Fancamp Exploration (TSXV:FNC)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024