VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 25, 2016) – Fairmont Resources Inc. (TSX VENTURE:FMR) (“Fairmont”) is pleased to announce 12 drill holes that were completed to the end of 2015 at the Forestville Quartzite Property have all been logged. See Table 1 for details on the drillhole locations, attitudes and quartzite intersections and Map 1 for a location of the drillholes and quartzite zones. All drilling was completed by the students and staff of the Le Centre de formation professionnelle de Forestville (“Forestville CFP”) under the supervision of Magnor Exploration. Analysis has yet to be completed on these holes, and it not expected to be completed until spring. Drilling has intersected up to 60 metres of quartzite in hole FOR 15-002 at Zone D, however the true thickness of this zone is uncertain as the other two holes drilled in Zone D both ended in quartzite. The three holes completed on Zone D visually appear to be some of the cleanest quartzite encountered on the Forestville Quartzite Property to date.
Photo 1 Drill Setup at Zone D
Link to Photo: http://fairmontresources.ca/pdf/20160225P1.pdf
Photo 2 Typical Quartzite in Drillcore at Zone D
Link to Photo: http://fairmontresources.ca/pdf/20160225P2.pdf
Zone E was identified by in outcrops of quartzite approximately 2.3 km north of Zone D and one hole was targeted to test the quartzite at depth. No quartzite was encountered in drilling at Zone E due to less than optimal drill location.
Drilling from Zone F, a large area of newly identified quartzite, yielded encouraging intersections of quartzite. Zone F is 5 km northwest of Zone A on a continuous topographic ridge that has been mapped and interpreted to be a continuous ridge of quartzite. Four drill holes were completed at Zone F. In one area it is uncertain if drilling intersected bedrock or a massive block of quartzite that has come down as a large single block. Backhoe stripping or additional drilling is required to confirm this.
Photo 3 Zone A Outcrop, West Side of Quartzite Ridge
Link to Photo: http://fairmontresources.ca/pdf/20160225P3.pdf
Photo 4 Zone A, Drill Setup, East Side of Quartzite Ridge
Link to Photo: http://fairmontresources.ca/pdf/20160225P4.pdf
Photo 5 Typical Quartzite from Zone A Drilling
Link to Photo: http://fairmontresources.ca/pdf/20160225P5.pdf
Map 1 Fairmont’s Forestville Quartzite Property with Quartzite Zones and Drillholes
Link to Map: http://fairmontresources.ca/pdf/20160225M1.pdf
Table 1 Quartzite Intersection in 2015 Drill Holes
Link to Table: http://fairmontresources.ca/pdf/20160225T1.pdf
In 1996 Vogue Resources tested Zone C with one hole directly in the zone, and one in close proximity to Zone C and drilled in close proximity to Zone B.
Results from Sigeom Report GM 54975 by Vogue Resources returned intervals as high as 36.45m of 99.15% SiO2 in hole LC199601. Results from holes LC9602 and LC9603 are very encouraging as well as they appear to be well west of the main quartzite ridge seen in Zones A, B, C and F, which may indicate a parallel quartzite zone or an increased thickness in the quartzite unit.
Table 2 Vogue Resources Drilling Results
Link to Table: http://fairmontresources.ca/pdf/20160225T2.pdf
Photo 6 Zone B Outcrop – photo taken from Zone C
Link to Photo: http://fairmontresources.ca/pdf/20160225P6.pdf
Photo 7 Zone C Outcrop – photo taken from Zone B
Link to Photo: http://fairmontresources.ca/pdf/20160225P7.pdf
Michael Dehn, President and CEO of Fairmont states “Having completed holes intersecting material thicknesses of quartzite in Zones A, D and F, along with the historical holes demonstrate that there is a large target of quartzite zones over many kilometres of strike length on the Forestville Quartzite Property. With additional work we expect to be able to show volumes and grades of several of the zones and hope to be able to start permitting this year.”
For additional information on the Forestville Quartzite Property, please see the Company’s Press Release dated February 18, 2015, available here: http://fairmontresources.ca/uploads/260.pdf
The technical information in this news release was approved by Mr. Jonathan Lalancette, Eng, a Qualified Person under NI 43-101 regulations.
Fairmont’s Quebec properties cover numerous occurrences of high-grade titaniferous magnetite with vanadium. Where these occurrences have been tested they have display exceptional uniformity with respect to grade. Fairmont also controls three quartz/quartzite properties in Quebec, one near Lac Saint Jean and two along the North Shore of the St. Lawrence River.
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 limited operating history. Accordingly, actual and future events, conditions and results may differ materially from the estimates, beliefs, intentions and expectations expressed or implied in the forward looking information. 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.
Michael A. Dehn
President and CEO