Vancouver-listed Fancamp Resources has kicked off the first phase of its exploration program on the Gemsbok base-metal property in southwestern Botswana.
The 1.6-million-acre, wholly owned property forms part of the Craton Margin project. The property also covers a large portion of the Kalahari suture zone, a major tectonic discontinuity associated with geological environments characteristic of large deposits of copper, nickel and platinum group elements, as well as sedimentary-exhalative deposits.
Exploration will consist of a high-resolution, aeromagnetic survey which will be used to examine major magnetic targets identified in an airborne survey carried out in 1978. A similar aeromagnetic survey conducted by Fancamp in 1994 over 25% of the property revealed an unexpected degree of complexity, in addition to numerous magnetic targets.
On the financial front, Fancamp has announced the closing a $2.5-million special warrants issue.
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