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16.06.2011
FAIRMONT REPORTS ON DRILL RESULTS FOR CLAY-POWELL PROPERTY, ONTARIO
FAIRMONT REPORTS ON DRILL RESULTS FOR CLAY-POWELL PROPERTY, ONTARIO
Jun. 14, 2011
June 14, 2011 ---Vancouver, BC ---Fairmont Resources Inc. (FMR: TSX-V)("Fairmont") Fairmont has received and reviewed all analytical results from its 1,500 m diamond drilling program on two target areas on the Clay-Powell Property ("the Property") located 140 km west of Thunder Bay, Ontario, in the Shebandowan Greenstone Belt. The drilling program was carried out under the supervision of Coast Mountain Geological Ltd.
One of the target areas drilled consisted of a subtle resistivity high flanking a chargeability high. This target was viewed as a potential extension of gold and copper bearing shear zones hosting the Moss Lake Mine and the Foundation Resources Inc. (TSXV:FDN) /Alto Ventures Ltd. Coldstream deposits to the northeast. Of the three drillholes collared in this area (CP-11-04 to CP-11-06), two intersected gold mineralization: 2.91 g/T Au over 1.55m from 99.50m to 101.05m in hole CP-11-04 and 8.45 g/T Au over 1.90m from 222.75 to 224.65m in hole CP11-06. Gold mineralization is associated with quartz-carbonate-chlorite-pyritechalcopyrite veining within hematite and carbonate altered mafic volcanics. The presence of gold within these drill holes indicates that there is a potential for a shear-hosted deposit similar to that of Moss Lake and Coldstream. CP-11-06 was collared 202m northeast of CP11-04; CP-11-5, from which no significant values were returned, was collared a further 136m northeast of CP-11-06.
The other target area drilled was a magnetic high defined by a recently completed induced polarization and magnetic survey over the southeast portion of the Property. The survey was designed to cover a potential extension of magnetic anomalies associated with the Xstrata Copper/Rainy Mountain Royalty Corp. Hamlin iron oxide copper gold (IOCG) prospect to the northeast. The three holes drilled in this area (CP-11-01 to CP-11-03) intersected intervals of epidote-carbonate-magnetite to magnetite-carbonate-hematitechlorite alteration with pyrite and trace amounts of chalcopyrite similar in style to the Hamlin IOCG prospect. Hole CP-11-02 intersected a broad zone of anomalous copper grading 146 ppm from 74.5m to 129.9m, which includes higher values over narrow widths, including a high of 0.18% Cu over 0.55m from 113.35m to 113.90m. The same hole intersected an elevated gold value of 162ppb over 1.50 m from 221.5m to 223.0m.
Fairmont will continue to evaluate available data for these and other areas of the Property to assess its potential for additional exploration.
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 (604)681-0226
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.
For further information contact:
Bernard Dewonck Rain Communications
President Toll Free: 1-877-614-6113 Fairmont Resources Inc. (TSXV:FMR) Nelson Da Silva Tel: 604-648-0523 (direct) 650 West Georgia St. Suite 620 Ralph Biggar Tel: 604-306-2525 (direct)
Vancouver, British Columbia V6B 4N9 Tel: 604-681-0226 Fax: 604-687-4670 Email: info@fairmontres.com
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Jun. 14, 2011
June 14, 2011 ---Vancouver, BC ---Fairmont Resources Inc. (FMR: TSX-V)("Fairmont") Fairmont has received and reviewed all analytical results from its 1,500 m diamond drilling program on two target areas on the Clay-Powell Property ("the Property") located 140 km west of Thunder Bay, Ontario, in the Shebandowan Greenstone Belt. The drilling program was carried out under the supervision of Coast Mountain Geological Ltd.
One of the target areas drilled consisted of a subtle resistivity high flanking a chargeability high. This target was viewed as a potential extension of gold and copper bearing shear zones hosting the Moss Lake Mine and the Foundation Resources Inc. (TSXV:FDN) /Alto Ventures Ltd. Coldstream deposits to the northeast. Of the three drillholes collared in this area (CP-11-04 to CP-11-06), two intersected gold mineralization: 2.91 g/T Au over 1.55m from 99.50m to 101.05m in hole CP-11-04 and 8.45 g/T Au over 1.90m from 222.75 to 224.65m in hole CP11-06. Gold mineralization is associated with quartz-carbonate-chlorite-pyritechalcopyrite veining within hematite and carbonate altered mafic volcanics. The presence of gold within these drill holes indicates that there is a potential for a shear-hosted deposit similar to that of Moss Lake and Coldstream. CP-11-06 was collared 202m northeast of CP11-04; CP-11-5, from which no significant values were returned, was collared a further 136m northeast of CP-11-06.
The other target area drilled was a magnetic high defined by a recently completed induced polarization and magnetic survey over the southeast portion of the Property. The survey was designed to cover a potential extension of magnetic anomalies associated with the Xstrata Copper/Rainy Mountain Royalty Corp. Hamlin iron oxide copper gold (IOCG) prospect to the northeast. The three holes drilled in this area (CP-11-01 to CP-11-03) intersected intervals of epidote-carbonate-magnetite to magnetite-carbonate-hematitechlorite alteration with pyrite and trace amounts of chalcopyrite similar in style to the Hamlin IOCG prospect. Hole CP-11-02 intersected a broad zone of anomalous copper grading 146 ppm from 74.5m to 129.9m, which includes higher values over narrow widths, including a high of 0.18% Cu over 0.55m from 113.35m to 113.90m. The same hole intersected an elevated gold value of 162ppb over 1.50 m from 221.5m to 223.0m.
Fairmont will continue to evaluate available data for these and other areas of the Property to assess its potential for additional exploration.
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 (604)681-0226
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.
For further information contact:
Bernard Dewonck Rain Communications
President Toll Free: 1-877-614-6113 Fairmont Resources Inc. (TSXV:FMR) Nelson Da Silva Tel: 604-648-0523 (direct) 650 West Georgia St. Suite 620 Ralph Biggar Tel: 604-306-2525 (direct)
Vancouver, British Columbia V6B 4N9 Tel: 604-681-0226 Fax: 604-687-4670 Email: info@fairmontres.com
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.