Ontario Prospector - Spring/Summer 2012 - (Page 21)

featurestory GEARS UP FOR A BUSY YEAR By Michael Schwartz FAIRMONT F airmont Resources Inc. is headquartered in Vancouver, BC, and is listed on the TSXV. It describes its Marmion South and Clay-Powell projects in Ontario as “high-potential” and it is currently seeking additional projects. In addition, Fairmont Resources describes itself as “an aggressive explorer” with a focus on developing gold projects in up-and-coming gold camps. Marmion South Contact Project is Fairmont Resources’ key operation. Located in the Thunder Bay Mining District of North-West Ontario, the project extends over 8,208 hectares and features 46 contiguous claims and one stand-alone claim. Marmion South lies 200 km west of Thunder Bay and 4 km east of Atikokan. Nearby roads are varied, ranging from TransCanada Highway 11 to numerous local logging roads. A rail link is close to the site, and the property is crossed by both hydro and a natural gas pipeline. Thunder Bay offers a key skilled and semi-skilled labour resource as well as a full-service airport. In geological terms, the Marmion South project covers the southern portion of the prolific Marmion Batholith. The Mamion Batholith and greenstone rocks to the south lie within the Central Wabigoon Subprovince, which in turn is part of Superior Province of the Canadian Shield. The Marmion Batholith most famously is host to Osisko’s Hammond Reef Project; with an NI-43-101 compliant inferred of 10.52 million ounces of gold, it is also host to numerous gold showings and historic small-scale mines, many of which date from the 1890s. Fairmont’s Marmion South project is contiguous with Osisko Hammond Reef Project, where an update resource estimate is expected shortly. Gold mineralization in the Marmion Batholith is controlled by northeast trending shears parallel to the Marmion shear, which forms the western flank of the Batholith. Within these shears, gold is associated with disseminated pyrite within altered felsic intrusive rocks +/quartz veins/stringers. The Marmion South property hosts two distinct styles of gold mineralization. First, there is “granite-hosted” style gold similar to Osisko’s Hammond Reef deposit. Second is the more classical greenstone-hosted gold found in east-west trending shears parallel to the regional Quetico Fault. This greenstone-hosted gold has many similarities to the mineralization found within the Beardmore Geralton camp to the east and is hosted within shear zone hosted quartz veins with associated pyrite +/- arsenopyrite. Roughly 25% of the property comprises greenstone rocks parallel to the regional east-west Quetico Fault. Fairmont’s Property covers the southeast extension of the historic, northeasttrending Jack Lake-Pettigrew Shear and Sunbeam-Atiko Shear held by TerraX Minerals Inc., which recently released results of up to 0.95 meters of 18 g/t gold on April 17. Nearby deposits which host non 43-101 compliant resources include the Jack Lake deposit (4,000 oz at 15.5 g/t) and the Atiko-Sapawe Mine (10,600 oz @ 7.97 g/t) located just east of the property boundary. For this year, a phase I drill program began mid-March and wrapped up in early April. The program focused on the greenstone-hosted Olcott prospect, which has historically produced drill-hole intercepts of 6.14m of 5.41 g/t gold. A major field program of reconnaissance mapping, prospecting and soil sampling is planned this summer to ground-truth several prospective north trends identif ied The Ontario Prospector • Spring/Summer 2012 21 http://www.naylornetwork.com/onp-nxt/

Table of Contents for the Digital Edition of Ontario Prospector - Spring/Summer 2012

Report from the Ontario Prospectors Association
GTA Resources
Transition Metals Corp
Fairmont Resources
Tri Origin
IMP Automation
Buyers’ Guide

Ontario Prospector - Spring/Summer 2012