TSX: FMR

Highlights

Profile

News

Properties

Chart

Management

Contacts

 

   
 
   
"Holds an option to acquire a 100% interest in the Marmion South Contact property, which consists of 47 mineral claims covering an area of 8,208 hectares located in the Thunder Bay Mining Division, Ontario; and a 70% interest in 11 mineral tenures comprising the Powell property and 10 mineral tenures comprising the Clay property with a total area of 3,277 hectares, located near Thunder Bay, Ontario."

 

 
Approximate Financial Snapshot as of 10/23/12
Shares Outstanding 19.8M  
52 Wk Hi/Lo 0.19/

0.04

Market Cap $1.59M
Recent Price $0.08
 

 

 
 
   

 

Join the SmallCapReview mailing list

 

 

Fairmont Resources (TSX: FMR)

Websites: www.FairmontResources.com

"The Marmion South Contact Property west of Thunder Bay is adjacent to Osisko Mining Corporation's Hammond Reef Project (10.52 million ounce NI 43-101 compliant gold resource in 'Inferred' category)"


Fairmont Resources Investor Highlights

  • Opportunity -Received results from the summer field program on its Marmion South Property, located near Atikokan, Ontario, and contiguous with Osisko Mining Corporation's Hammond Reef Property. Commenting on the results, Neil Pettigrew, President and CEO said: "The identification of these northeast structures southwest of the Jack Lake deposit is a significant development. The fact that anomalous gold values are found in all three reconnaissance sampling techniques (prospecting, soil and lake sediment samples), strongly suggests that gold mineralization occurs along these structures. Nearly the entire length of these newly identified structures occur in low lying swampy areas. Drill testing these structures is a priority for Fairmont."
  • Promising Results - Announced results from its summer field program on the Houghton Creek Property, located in Northwestern Ontario. The program returned several grab samples with anomalous gold mineralization ranging from 0.02 g/t to 0.79 g/t with one sample returning 4.11 g/t gold, all hosted in sheared sulphide-rich granodioritic rocks. The mineralization is accompanied by elevated silver (up to 130.93 g/t) and zinc (up to 0.87 wt.
  • Claims - Announced that an additional 9 claims have been staked totaling 1,312 hectares surrounding the original Houghton Creek Property, located in Northwestern Ontario. The property was expanded to encompass prospective geology and several northeast trending structures, parallel to the historic, gold bearing Houghton Creek structure.
  • Favorable Regulation - Fairmont Resources operates in politically friendly and mining friendly regions of Canada. 
  • Prime Locations - The Marmion South Contact Property west of Thunder Bay is adjacent to Osisko Mining Corporation's Hammond Reef Project (10.52 million ounce NI 43-101 compliant gold resource in 'Inferred' category being developed to the north. The property is host to several gold showings and prospects, including the Olcott prospect which has a historical resource estimate of 81,000 tons @ 0.06 oz/ton gold (Placer Development Limited 1981 — Assessment Work Report # 52B14SW0066).
  • Exchanges - Fairmont Resources trades on the Toronto Stock Exchange under the ticker FMR and on the OTCBB stock exchange under the ticker FRSSF.
  • Huge Market - Fairmont Resources is an aggressive explorer with focus on development of gold projects with "Camp Scale" potential, within cost effective regions of Canada. 
  • Options - Holds an option to acquire a 100% interest in the Marmion South Contact property, which consists of 47 mineral claims covering an area of 8,208 hectares located in the Thunder Bay Mining Division, Ontario; and a 70% interest in 11 mineral tenures comprising the Powell property and 10 mineral tenures comprising the Clay property with a total area of 3,277 hectares, located near Thunder Bay, Ontario.

Profile

Fairmont Resources (TSX: FMR.V) and (OTC: FRSSF) is an aggressive explorer with focus on development of gold projects with "Camp Scale" potential, within cost effective, politically friendly, mining friendly regions of Canada. 

It holds an option to acquire a 100% interest in the Marmion South Contact property, which consists of 47 mineral claims covering an area of 8,208 hectares located in the Thunder Bay Mining Division, Ontario; and a 70% interest in 11 mineral tenures comprising the Powell property and 10 mineral tenures comprising the Clay property with a total area of 3,277 hectares, located near Thunder Bay, Ontario.

The Houghton Creek Property is located 27 kilometers northwest of the historic St. Anthony Gold Mine which operated intermittently from 1905 to 1941 and produced 63,310 oz of gold at a grade of 6.51 g/t. an additional 9 claims have been staked totaling 1,312 hectares surrounding the original Houghton Creek Property, located in Northwestern Ontario. The property was expanded to encompass prospective geology and several northeast trending structures, parallel to the historic, gold bearing Houghton Creek structure.


Recent News and Press Releases

Fairmont Follows Up Summer Field Program Results at Marmion South Property

Goldman Small Cap Research Issues Research Report on Fairmont Resources Inc.

Fairmont Identifies Gold Bearing Northeast Structures in the Marmion Batholith at Marmion South Property

Fairmont Samples Up To 4.11 G/T Gold At Houghton Creek Property

Fairmont Begins Summer Field Work Program at Marmion South

Fairmont Stakes Additional Claims at Houghton Creek Property, Begins Summer Field Work Program

Fairmont Options Houghton Creek, Granite-Hosted Gold Property, in the Savant Lake Greenstone Belt, NW Ontario

Fairmont Intersects 2.00 g/t Over 8.00 Meters at Marmion South Property

For the latest Quote and News on FRSSF Click Here.


Properties

Houghton Creek Property

Houghton Creek Property covers a northeast trending shear zone hosted by the granodioritic Houghton Lake Stock located in the Savant Lake Greenstone belt. The Savant Lake greenstone belt forms part of the Wabigoon Subprovince located in Northwestern Ontario. The Property has seen only limited prospecting, trenching and two short, narrow diameter (Winkie drill) diamond drill holes, drill by Noranda Exploration Company Limited in 1991.

The Houghton Creek Property is located 27 kilometers northwest of the historic St. Anthony Gold Mine which operated intermittently from 1905 to 1941 and produced 63,310 oz of gold at a grade of 6.51 g/t. The property is also located 50 kilometers due north of the historic Sturgeon Lake Volcanogenic Massive Sulphide (“VMS”) Mining Camp, with 5 past producers which operated from the early 1970s through to the early 1990s, the largest of which, the Mattabi Mine produced 13.5 million tons at 7.5% Zn, 0.88% Cu, 0.77% Pb, and 3.1 oz/t Ag. Both the Sturgeon Lake and Savant Lake greenstone belts are well known for their VMS mineralization.

To view maps of this property visit here.

Marmion Contact South Property

The Marmion South Contact Property consists of 8,208 hectares and is located approximately 200 km west of Thunder Bay. The property is accessed via the Trans-Canada Highway 11 from Thunder Bay to the town of Atikokan than accessed by a secondary highway with several logging roads providing access within the property. A major railway line and an electrical grid are located just a few kilometres south of the property. These infrastructures serve the community of Atikokan and the surrounding areas. Both skilled and semi-skilled labour is readily available from Thunder Bay and Atikokan, respectively.

The property is adjacent to the past producing Atiko Gold Mine to the east and Osisko Mining Corporation's ("Osisko") Hammond Reef Project (10.52 million ounce NI 43-101 compliant gold resource in 'Inferred' category being developed to the north.  The property is host to several gold showings and prospects, including the Olcott prospect which has a historical resource estimate of 81,000 tons @ 0.06 oz/ton gold (Placer Development Limited 1981 — Assessment Work Report # 52B14SW0066).  **Exploration over the past several years has identified other prospects, including the Agnico-Eagle prospect (returned drill hole result of up to 1.0 oz/ton gold over 0.75m), the White Lake prospect (returned grab sample result of up to 0.37 oz/t gold and drill hole result of 0.45 g/t gold over 7.0 m) and a prospective structure known as the Smokey Shear approximately 2 km long located near the northern boundary of the Property. These gold assay values are from various historical assessment and prospecting reports and have not been verified by Fairmont.

Gold mineralization on the property is associated with pyrite +/- arsenopyrite and occurs within shear zone-hosted quartz veins/stringers and altered host rocks. The property is underlain by Archean granite-greenstone rocks of the Central Wabigoon Subprovince within the geological Superior Province of the Canadian Shield. The northern half of the property is underlain by granitic rocks of the Marmion batholithic complex which hosts some of the gold deposits on the adjacent Hammond Reef property of Osisko. Volcanic and gabbroic rocks dominating the southern half of the property are bound by a major crustal break, the Quetico Fault and its subsidiary structures. Gold and copper mineralization in the volcanic and gabbroic rocks is structurally controlled by east-northeast to east-striking shear zones which are possibly related to the Quetico Fault system.

To view maps of this property visit here.

Powell-Clay Property

The Powell-Clay property is located within the western Shebandowan greenstone belt of the Wawa sub-province. The subprovince extends for approximately 850 km from the Kapuskasing Structural Zone in northeastern Ontario to west-southwest in the Minnesota River Valley area (U.S.A.).  The property is located along a 25 km long mineralized corridor that includes properties held by Xstrata/Rainy Mountain Resources and Moss Lake Gold Mines. The Wawa Subprovince is home to some of the largest shear- hosted lode gold deposits (e.g., Hemlo gold camp), volcanogenic massive sulphide deposits (e.g., former Geco and Winston Lake zinc mines), and mafic to ultarmafic intrusion-hosted Ni-Cu-PGM deposits (e.g., former Shebandowan mine) in Canada.

Powell Claims

The Powell property consists of 12 claims (86 claim units) with an area of 14.66 km and is also located approximately 125 km west of Thunder Bay, Ontario in the Shebandowan greenstone belt. The property has been surveyed with lines, geology, IP, magnetics and an airborne VTEM and magnetic survey. Limited diamond drilling has been done although trenching has been carried out over a wider area. Several significant gold showings have been located and a number of IP anomalies still require trenching or drilling.

Clay Claims

The Clay property consists of 9 claims (112 claim units) with an area of 16.90 km and is located approximately 125 km west of Thunder Bay, Ontario in the Shebandowan greenstone belt. The property is contiguous with the Powell claim group and covers the west and south extension of Powell. The property covers the west extension of the structure and stratigraphic of the Hamlin IOCG (iron-oxide-copper-gold) system. The magnetic anomaly associated with the copper bearing breccia extends west onto Clay and breccias have been mapped on the east boundary of Clay. A detailed mapping program followed by IP-mag traverses are planned to trace the IOCG system.

To see a map of these properties visit here.


Three Month Chart


Management

Neil Pettigrew - President, Chief Executive Officer & Director

Mr. Pettigrew received his BSc (honours) in geology degree from the University of New Brunswick in 1999 and his MSc degree in earth sciences from the University of Ottawa in 2004. He has worked for several junior and major companies in gold and copper-nickel-platinum-group-element exploration, most notably Avalon Ventures Ltd., Temex Resources Corp., Rainy River Resources Ltd., Placer Dome CLA Inc. and Goldcorp Inc. He has also worked for the Ontario Geological Survey as a senior Precambrian geoscientist. Currently, Mr. Pettigrew serves as vice-president, exploration, of PC Gold Inc., an exploration and development company listed on the Toronto Stock Exchange. Mr. Pettigrew is also a founder of Fladgate Exploration Consulting Corp. of Thunder Bay, Ont., a full-service mineral exploration consulting firm with over 60 employees and a roster of publicly traded clients.

Greg Ball - Chief Financial Officer & Director

Mr. Ball has worked in the accounting field for the past 23 years. In the past 10 years, Mr. Ball served as a controller at Black Top & Checker Cabs and Pacific Western Brewing Co.; Since January 2005, Mr. Ball has been a senior accountant with the Da Costa Management Corp. Mr. Ball has a Bachelor of Science in Mathematics from the University of Alberta and received his CGA designation in August of 2005.


Contacts

Fairmont Resources

Suite 810–789 West Pender St.
Vancouver, BC, V6C 1H2
Phone: 604-648-0523

Email: info@fairmontres.com


 

 

SmallCapReview.com feature stock reports are intended to be stock ideas, not recommendations. Please do your own research before investing. It is crucial that you at least look at current SEC filings and read the latest press releases. Information contained in this report was extracted from current documents filed with the SEC, the company website and other publicly available sources deemed reliable. For more information see our disclaimer section, a link of which can be found on our website. This document contains forward-looking statements, particularly as related to the business plans of the Company, within the meaning of Section 27A of the Securities Act of 1933 and Sections 21E of the Securities Exchange Act of 1934, and is subject to the safe harbor created by these sections. Actual results may differ materially from the Company's expectations and estimates. The information provided in this report is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use would be contrary to law or regulation or which would subject us to any registration requirement within such jurisdiction or country.

Copyright SmallCapReview. All rights reserved. SCR is not a Registered Broker/Dealer or Financial Advisor. All materials presented on our website and individual reports released to the public through this website, e-mail or any other means of transmission are not to be regarded as investment advice and are only for informative purposes. Before making a purchase or sale of any securities featured on our web site or mentioned in our reports, we strongly encourage and recommend consultation with a registered securities representative. This is not to be construed as a solicitation or recommendation to buy or sell securities. Past performance of our profiled stocks is not indicative of future results. The profile and opinions expressed herein are expressed as of the date the profile is posted on site and are subject to change without notice. No investor should assume that reliance on the views, opinions or recommendations contained herein will produce profitable results. SmallCapReview may hold positions in securities mentioned herein, and may make purchases or sales in such securities featured on our website or within our reports  In order to be in full compliance with the Securities Act of 1933, Section 17(b), SCR will disclose in it's disclaimer, what, if any compensation was received for our efforts in researching, presenting and disseminating this information to our subscriber database and featuring the report on the SmallCapReview website. SmallCapReview has been compensated three thousand five hundred dollars by a third party Winning Media for its efforts with regards to Fairmont Resources. As with any stock, companies we select to profile involve a degree of investment risk and volatility, particularly small-caps. All investors are cautioned that they may lose all or a portion of their investment if they decide to make a purchase in any of our profiled companies.

We encourage our readers to invest carefully and read the investor information available at the web sites of the Securities and Exchange Commission (SEC) at: http://www.sec.gov and/or the National Association of Securities Dealers (NASD) at: http://www.nasd.com . Readers can review all public filings by companies at the SEC's EDGAR page. The NASD has published information on how to invest carefully at its website.