VANCOUVER, BRITISH COLUMBIA–(Marketwired – Feb. 18, 2016) – Fairmont Resources Inc. (TSX VENTURE:FMR) (“Fairmont”) is pleased to announce that analysis by independent third party industrial users have confirmed the quartzite tested from Zone A on Fairmont’s Forestville Quartzite Property (the “property’) in Quebec is suitable for Ferro-Silicon. It should also be noted that testing to date on quartzite from the property would require additional upgrading for Metallurgical Silicon.
Two end users have now visited the quartzite properties, with an additional three receiving material for testing.
Forestville Quartzite Property Size Increase Following Quartzite Horizons
Fairmont also increased the size of the Property by staking an additional 790 hectares following the discovery of several new quartzite zones.
New Quartzite Zones discovered as well as Extensions to Historical Zones
Fairmont is pleased to announce the discovery of new quartzite zones on the Property. The original zones identified by Virginia Goldfields and Vogue Resources are named Zones A, B and C on Map 1. Zone D, E and F were identified by prospectors working on the property over the past 16 months. Zone G, also known as the Breton Zone, was discovered by members of the Forestville CFP while road work was underway to Zone A in the fall of 2015. All Zones are well exposed outcrops of quartzite. Based on mapping and geological and geophysical interpretation to date, Zones A, B, C and G are part of a long horizon of quartzite that matches units on published government geological maps of the region. Zone D and E are new discoveries identified along logging roads into the property. Zone F is the interpreted north-western extension of Zones A, B and C, and is intermittently exposed over more than 500m of strike length. Map 1 shows the location of the quartzite zones and property.
Fairmont has completed core holes at Zone A, D, E and F. Samples from the drilling have yet to be sent to the laboratory for analysis.
Map 1 Fairmont’s Forestville Quartzite Property with Quartzite Zones
Link to Map1: http://goo.gl/g15NDj
Michael Dehn, President and CEO of Fairmont states, “We are extremely happy with these results. They have surpassed our initial expectations and validated our decision to focus on our Forestville Quartzite Property. Having Identified two new quartzite zones and extending the historical discovery Zones A-B-C to the north which appears to connect with Zone F. Furthermore, as the property is accessible by road, and is situated within 50 Km the Municipal Port of Forestville, Quebec, it has excellent logistics to the Great Lakes, Eastern Seaboard and Europe.”
Investor Relations Agreement
Fairmont is also pleased to announce the engagement of QIS Capital as the Company’s Investor Relations Consultant.
QIS Capital will serve to increase awareness of the Company in the investment community and will coordinate Fairmont Resources’ public and investor relations activities. QIS Capital will provide corporate information to its large following of investors and will also communicate the investment merits of the Company through its relationships with newsletter editors, brokers, media, and analysts. As part of the Agreement, Fairmont will also be invited to present at QIS Capital’s upcoming Small-Cap Investor Conferences in Calgary, AB, and Vancouver, BC.
QIS Capital is an excellent fit for Fairmont as QIS Capital has a unique focus on representing companies with strong fundamentals including cash flow and earnings. As Fairmont is working towards commencing production of its industrial minerals to generate near-term revenues, the Company does not fit into the conventional mining exploration sector. QIS Capital has a strong following of fundamental small-cap investors and this is the retail market we are targeting at this time.
This Investor Relations Agreement covers a period of three months commencing February 15, 2016 at a cost of $7,500 per month and is automatically renewable for an additional 3 month term.
QIS Capital and its principal shareholders do not currently hold any shares of Fairmont Resources but may purchase shares in the Company from time to time for investment purposes.
The technical information in this news release was approved by Mr. Jonathan Lalancette, Eng, a Qualified Person under NI 43-101 regulations.
About Fairmont
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.
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 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.
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