QUEBEC – Fancamp Exploration of Vancouver has received the first 43-101-compliant in-pit mineral resource estimate for the Magpie No.2 deposit from P&E Mining Consultants. The report puts 635.2 million tonnes at 42.49% Fe and 11.20% TiO2 in the indicated category. The inferred portion contains 239.2 million tonnes at 42.29% Fe and 11.21% TiO2.
The compliant resource numbers compared favourably with the historic resource estimate of 1.1 billion tonnes at 43% Fe and 11% TiO2.
The Magpie property is owned by Magpie Mines, in which Fancamp owns a 47% interest. Geological notes and other information is available at FancampExplorationLtd.ca.