Issue link: http://resourceworld.uberflip.com/i/99312
MIN I NG FAIRMONT RESOURCES COMPLETES MARMION SOUTH PROGRAM Fairmont Resources Inc. [FMR-TSXV] has conducted a follow-up prospecting program based on the results of a summer field program on its 100%-optioned Marmion South property near Atikokan, northern Ontario. Earlier this year, Fairmont completed a 1,400-metre, Phase II, diamond drilling program that focused on the Olcott showing area and returned 2.00 g/t gold over 8.0 metres, including 3.27 g/t gold over 3.00 metres. The Marmion South prospect is contiguous with Osisko Mining's advanced-stage Hammond Reef property that hosts a NI 43-101 inferred resource of 530.6 million tons averaging 0.62 g/t gold for 10.5 million ounces. Results of the follow up program are pending. The Marmion South program focused on results returned from summer field work on the southwest extension of the northeast-trending Jack Lake-Pettigrew trend. The high-grade, granite-hosted Jack Lake gold deposit, located 1 km north of the property, was discovered in 1878, saw limited production from 1899-1902, and hosts several historical, non-43-101 compliant resources calculations, the most recent comprising 8,910 tons grading 15.53 g/t for 4,000 ounces. Fairmont is seeking two distinct styles of mineralization: granite-hosted gold and greenstone belt hosted gold. Osisko's Hammond Reef deposit is related to the northeast-trending Marmion Shear; numerous historic gold occurrences in the Marmion Batholith are associated with similar parallel northeast structures. Prospecting was also carried out in the greenstone-hosted White Lake area in the southwest portion of the property. Sampling in 2011, at the White Lake occurrence, returned up to 6.18 g/t gold and limited historic drilling in the 1980s returned up to 0.45 g/t over 7.78 metres. The White Lake occurrence represents the western most extension of an east-west trending, greenstone hosted, gold trend on the property. Over 8 km of this trend is covered by the property. The eastern most extension of this trend encompasses the past producing Atiko-Sapawe Gold Mine located just 250 metres from the western property boundary. The Atiko-Sapawe Gold Mine operated from 1963 to 1966 and produced 4,955 ounces at 5.15 g/t and hosts a historic, non-43-101 compliant resource of 10,600 ounces grading 7.97 g/t gold. Also, during 2011, Fugro Airborne Surveys conducted a 1,300 line-km geophysical magnetometer and electromagnetic survey. The Marmion South property consists of 8,208 hectares and is located approximately 200 km west of the City of Thunder Bay. The property is accessed via the Trans-Canada Highway 11 from Thunder Bay to the town of Atikokan, then 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. The Phase II drilling program will focus on northeast trends, granite-hosted gold mineralization. n BUILDING A LEADING MID-TIER COPPER-GOLD PRODUCER Industry expertise and regional network in Latin America 35% ownership by founding group Exploring and drilling at El Roble mine, an underexplored Cu-Au VMS deposit in Colombia Near term cash flow generation TSX.V: ATY Resource World 1/2 Horizontal w 7.375'' x 4.7'' 62 www.resourceworld.com www.aticomining.com DECEMBER 2012/JANUARY 2013