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FAIRMONT REPORTS ON DRILL RESULTS FOR CLAY-POWELL PROPERTY, ONTARIO
Jun. 14, 2011 (TheNewswire.ca) -- June 14, 2011 ---Vancouver, BC ---Fairmont Resources Inc. ...
About this update from Future Mineral Resources Inc.
[{"type":"text","content":"\nFAIRMONT REPORTS ON DRILL RESULTS FOR CLAY-POWELL PROPERTY, ONTARIO\n\n Jun. 14, 2011 (TheNewswire.ca) -- June 14, 2011 ---Vancouver, BC ---Fairmont Resources Inc. (FMR: TSX-V)(\"Fairmont\") Fairmont has received and reviewed all analytical results from its 1,500 m diamond drilling program on two target areas on the Clay-Powell Property (\"the Property\") located 140 km west of Thunder Bay, Ontario, in the Shebandowan Greenstone Belt. The drilling program was carried out under the supervision of Coast Mountain Geological Ltd.One of the target areas drilled consisted of a subtle resistivity high flanking a chargeability high. This target was viewed as a potential extension of gold and copper bearing shear zones hosting the Moss Lake Mine and the Foundation Resources Inc. (TSXV:FDN) /Alto Ventures Ltd. Coldstream deposits to the northeast. Of the three drillholes collared in this area (CP-11-04 to CP-11-06), two intersected gold mineralization: 2.91 g/T Au over 1.55m from 99.50m to 101.05m in hole CP-11-04 and 8.45 g/T Au over 1.90m from 222.75 to 224.65m in hole CP11-06. Gold mineralization is associated with quartz-carbonate-chlorite-pyritechalcopyrite veining within hematite and carbonate altered mafic volcanics. The presence of gold within these drill holes indicates that there is a potential for a shear-hosted deposit similar to that of Moss Lake and Coldstream. CP-11-06 was collared 202m northeast of CP11-04; CP-11-5, from which no significant values were returned, was collared a further 136m northeast of CP-11-06.The other target area drilled was a magnetic high defined by a recently completed induced polarization and magnetic survey over the southeast portion of the Property. The survey was designed to cover a potential extension of magnetic anomalies associated with the Xstrata Copper/Rainy Mountain Royalty Corp. Hamlin iron oxide copper gold (IOCG) prospect to the northeast. The three holes drilled in this area (CP-11-01 to CP-11-03) intersected intervals of epidote-carbonate-magnetite to magnetite-carbonate-hematitechlorite alteration with pyrite and trace amounts of chalcopyrite similar in style to the Hamlin IOCG prospect. Hole CP-11-02 intersected a broad zone of anomalous copper grading 146 ppm from 74.5m to 129.9m, which includes higher values over narrow widths, including a high of 0.18% Cu over 0.55m from 113.3...