Fairmont Resources has commenced drilling at its Marmion South property, which is situated at the eastern side of Atikokan in Ontario.
Drilling in the property is anticipated to be completed by March end. The assay results are expected to be received in April.
The property is close to the Hammond Reef property of Osisko Mining, which has a National Instrument 43-101-compliant gold resource of around 530.6M tons that has about 0.62 g/t gold grade for 10.5 million ounces based on gold cut off value of 0.30 g/t.
The drilling program is concentrated on the Olcott occurrence, which is present in the property’s southern region. In 1980s and 1990s, this area has yielded around 5.41 g/t gold at a depth of 6.16 m and 1.85 g/t gold at a depth of 19.20 m.
The greenstone-hosted Olcott gold occurrence is situated parallel to the Quetico fault on an east-west-trending structure. The occurrence has been identified to contain a quartz vein/shear-hosted gold system and limited drill programs and historical trenching in the 1980s and 1990s were carried out at this occurrence.
The company is developing plans for conducting mapping and soil sampling program in spring and summer. The northeast trends and anomalies of the Marmion batholith in the northern and central part of the property will be focused in this program.
The company may obtain the total Marmion South Property that has an area about 8208 ha. It is situated in Marmion Batholith district, where gold is available in abundance.
Source: http://www.fairmontresources.com/