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09.06.2011
Fairmont Commences Exploration on Marmion South Contact Property, Ontario
Fairmont Commences Exploration on Marmion South Contact Property, Ontario
Jun. 8, 2011
VANCOUVER, BRITISH COLUMBIA -- Fairmont Resources Inc. (TSX VENTURE:FMR) ("Fairmont") is pleased to announce that exploration has commenced on its Marmion South Contact Property ("Marmion Property"), an 8,208 hectare project approximately 200 km west of Thunder Bay, Ontario (see Fairmont's January 11, 2011 news release for details on the Marmion Property and the option agreement). The property lies immediately north and east of the town of Atikokan and is contiguous with the large claim holdings of Osisko Mining Corporation ("Osisko") to the north, which host the Hammond Reef deposit (6.7 million ounce NI 43-101 compliant gold resource in 'Inferred' category - www.osisko.com).
Coast Mountain Geological Ltd. has been contracted to carry out the exploration program, whose initial phase consists of the examination of areas of historical prospecting, sampling, trenching and drilling along a potentially 3 km long corridor in sheared and altered volcanic and gabbros in the southern part of the property. The Olcott prospect occurs at the southwest end of this corridor, where historical drill intercepts of up to 2.51 g/T gold over 10.8 metres have been reported. In addition, a number of shears and lineaments within the Marmion batholith will be prospected and sampled to evaluate the potential for occurrences similar to Hammond Reef. Mr Dewonck notes: "Osisko plans to drill in excess of 300,000m on and around the Hammond Reef deposit in 2011, and has completed extensive till sampling over its claim holdings. This level of activity is indicative of a belief in significant exploration potential in the region. Fairmont's objective on the Marmion Property is to confirm values in previously documented occurrences in order to define potential drilling targets, and to develop new targets in previously underexplored areas of the property in view of recent successes in similar geological environments."
Bernard Dewonck, P.Geo, Fairmont's CEO and President, is a Qualified Person as defined under NI 43-101 and is responsible for supervision of the work program on the Property. Mr. Dewonck has reviewed and approved the technical information contained in this news release.
On behalf of the board,
Bernard Dewonck, President
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont's control. Such factors include, among other things: risks and uncertainties relating to Fairmont's ability to complete the sale of any securities under the offerings and to obtain TSX Venture Exchange approval of the offerings. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Fairmont Resources Inc.
President
604-681-0226 or Toll-Free: 1.800.667.4470
604-687-4670 (FAX)
info@fairmontres.com
www.fairmontres.com
Rain Communications
604-648-0523 (direct)
Toll Free: 1-877-614-6113
Rain Communications
604-306-2525 (direct)
Toll Free: 1-877-614-6113
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Jun. 8, 2011
VANCOUVER, BRITISH COLUMBIA -- Fairmont Resources Inc. (TSX VENTURE:FMR) ("Fairmont") is pleased to announce that exploration has commenced on its Marmion South Contact Property ("Marmion Property"), an 8,208 hectare project approximately 200 km west of Thunder Bay, Ontario (see Fairmont's January 11, 2011 news release for details on the Marmion Property and the option agreement). The property lies immediately north and east of the town of Atikokan and is contiguous with the large claim holdings of Osisko Mining Corporation ("Osisko") to the north, which host the Hammond Reef deposit (6.7 million ounce NI 43-101 compliant gold resource in 'Inferred' category - www.osisko.com).
Coast Mountain Geological Ltd. has been contracted to carry out the exploration program, whose initial phase consists of the examination of areas of historical prospecting, sampling, trenching and drilling along a potentially 3 km long corridor in sheared and altered volcanic and gabbros in the southern part of the property. The Olcott prospect occurs at the southwest end of this corridor, where historical drill intercepts of up to 2.51 g/T gold over 10.8 metres have been reported. In addition, a number of shears and lineaments within the Marmion batholith will be prospected and sampled to evaluate the potential for occurrences similar to Hammond Reef. Mr Dewonck notes: "Osisko plans to drill in excess of 300,000m on and around the Hammond Reef deposit in 2011, and has completed extensive till sampling over its claim holdings. This level of activity is indicative of a belief in significant exploration potential in the region. Fairmont's objective on the Marmion Property is to confirm values in previously documented occurrences in order to define potential drilling targets, and to develop new targets in previously underexplored areas of the property in view of recent successes in similar geological environments."
Bernard Dewonck, P.Geo, Fairmont's CEO and President, is a Qualified Person as defined under NI 43-101 and is responsible for supervision of the work program on the Property. Mr. Dewonck has reviewed and approved the technical information contained in this news release.
On behalf of the board,
Bernard Dewonck, President
Forward-Looking Statements
Information set forth in this news release contains forward-looking statements that are based on assumptions as of the date of this news release. These statements reflect management's current estimates, beliefs, intentions and expectations. They are not guarantees of future performance. Fairmont cautions that all forward looking statements are inherently uncertain and that actual performance may be affected by a number of material factors, many of which are beyond Fairmont's control. Such factors include, among other things: risks and uncertainties relating to Fairmont's ability to complete the sale of any securities under the offerings and to obtain TSX Venture Exchange approval of the offerings. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
NEITHER TSX VENTURE EXCHANGE NOR ITS REGULATION SERVICES PROVIDER (AS THAT TERM IS DEFINED IN THE POLICIES OF THE TSX VENTURE EXCHANGE) ACCEPTS RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.
Fairmont Resources Inc.
President
604-681-0226 or Toll-Free: 1.800.667.4470
604-687-4670 (FAX)
info@fairmontres.com
www.fairmontres.com
Rain Communications
604-648-0523 (direct)
Toll Free: 1-877-614-6113
Rain Communications
604-306-2525 (direct)
Toll Free: 1-877-614-6113
NEWSLETTER REGISTRIERUNG:
Aktuelle Pressemeldungen dieses Unternehmens direkt in Ihr Postfach:
<a href="http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA3055541070">http://www.irw-press.com/alert_subscription.php?lang=en&isin=CA3055541070</a>
Mitteilung übermittelt durch IRW-Press.com. Für den Inhalt ist der Aussender
verantwortlich.
Kostenloser Abdruck mit Quellenangabe erlaubt.