Site Preparation Commences at Fairmont’s Buttercup Project
August 13, 2014 (Source: Marketwired) — Fairmont Resources Inc. (TSX VENTURE:FMR) (“Fairmont”) is pleased to announce that it has commenced site preparation and road construction. Approximately 600m of new road to the Buttercup site from the existing and well-maintained secondary access road has been initiated. In addition to road construction, logging companies have been on site to assess the removal of timber from the Buttercup site, utilizing the site plans prepared by WSP Canada Inc.
Sécuritech Forêt is expected to complete the fieldwork related to the road traffic and safety assessment on the secondary access road to the Buttercup deposit by the end of this week. This fieldwork is the basis for the report that will address visibility and obstructions, existing and recommended signage and general road condition on the secondary access road.
“Contractors are hard at work on the site and the access roads to the Buttercup Project” stated Michael Dehn, Fairmont’s President and CEO. “Work is moving quickly in anticipation of receiving the final extraction permits once WSP Canada Inc. has submitted the additional site, hydrological and biological work requested by the Ministère du Développement durable, de l’Environnement et des Parcs (“MDDEP”)”.
Fairmont also wishes to announce that it has received 600 lbs of titano-magnetite samples from the Buttercup site and 200 lbs of silica from the stockpiles at the Lac Bouchette quartz property. These samples with be used for additional metallurgical testing and marketing with potential customers.
Fairmont has completed early test work using Buttercup titano-magnetite with Titanium International Technology Inc. (“Ti2”) and results have been positive using Ti2 technology for making titanium metal, as well as titanium alloys from Buttercup titano-magnetite.
Companies such as Airbus Group NV have set up a task force to “explore alternative titanium supply options in case the Western sanctions on Russia disrupt supplies”. As titanium is an increasingly important component for commercial airliners including Airbus and Boeing Co., and both companies “rely heavily on Russian Suppliers”, Airbus is “looking at access to both titanium as a raw material and as forging sources from Russia…” (The Wall Street Journal, May 20th, 2014, Airbus Explores Titanium Supply Options Amid Russia Sanctions). During 2013, the USA imported Russian titanium and related articles worth US$168.38 million, while only exporting US$12.29 million worth of these products to Russia (MetalBulletin, July 21, 2014 – Non-ferrous metal trade could suffer from US, EU sanctions on Russia).
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Stockpiling of Russian aerospace-grade titanium has started in the US. Titanium by weight “for a single f-35 Joint Strike Fighter is 30,000 pounds.” More importantly, the US is “import-dependent for 79 percent of the titanium it consumes each year” (Real Clean World, August 12, 2014 How Long Can the US Rely on Russian Titanium). “Strong but lightweight, titanium is used across many industries, but the aerospace and defense sector is the biggest consumer … The material is especially important for the 787 Dreamliner, accounting for about 15% of the airframe weight of Boeing’s flagship commercial jet” (The Wall Street Journal, August 7, 2014, Boeing, United Technologies Stockpile Titanium Parts).
Fairmont’s Quebec properties cover numerous occurrences of high-grade titano-magnetite with vanadium. Where these occurrences have been tested, they have display exceptional uniformity with respect to grade. These occurrences are of considerable interest due to their proximity to tide water, with the Grand Anse Sea Terminal at the Port of Saguenay located within 100km of all of Fairmont’s Quebec properties.
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 exploration program of its mineral properties, Fairmont’s ability to complete the private placement financing and 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. Except as required under applicable securities legislation, Fairmont undertakes no obligation to publicly update or revise forward-looking information.
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