QIS Update #3 - 2016 - Fairmont Resources logs drill holes at Forestville Quartzite Property 2016 - February 26th 2016
Included in this update:
- Fairmont Resources logs 12 drill holes at Forestville Quartzite Property
- Financing opportunity - RewardStream (formerly Manado Gold)
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QIS Capital is currently assisting a company named RewardStream that is going public via reverse takeover of Manado Gold which we previously featured. RewardStream is in the process of raising between $1.5 - $2.0 million via private placement ($0.28 per unit includes 1/2 warrant at $0.40 for 2 years). While financings are generally restricted to accredited investors, this offering will also be opened up to eligible investors who would not otherwise qualify for the accredited investor prospectus exemption. Assuming $1.5 million is raised, the company would have about 64.5 million shares outstanding. For those interested, we have a detailed company presentation and more information on the financing available for viewing.
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RewardStream is a leader in the automated referral marketing industry. The company’s platform helps brands acquire new, loyal customers at a very low cost-per-acquisition. RewardStream does this by leveraging and rewarding the trusted recommendations that existing customers provide to their friends and family through a combination of offline, social and mobile referral channels and a wide range of reward capabilities, anchored by deep analytics for its brand partners.
Finished Fiscal 2015 with $1.65 million in revenue (approx. $1.3 million is recurring, of which 70% is in $US).
High growth SaaS marketing platform driven by strong recurring revenue, high margins and a variable growth revenue model tied to customer success.
Marquee clients, including AT&T Wireless, Boost Mobile, Koodo Mobile, Rogers Wireless, First West Financial Services, Cricket Wireless and more.
Strong pipeline of over 700 qualified prospects in telecom, financial services and ecommerce, having recently signed TELUS Mobility, Delta Credit Union (Top 25 US CU), Wind Mobile, Hawaiian Telecom and a second program for Rogers wireless, amongst others. This represents an additional $1.5M in ARR backlog on top of existing $1.3M from FY2015.
Small business expansion strategy underway with integrations into Magento and WooCommerce under development, with Shopify to follow.
Dedicated, experienced management team owning over 20% of the company, with over 2/3 of the share capital of the entire company in a voluntary pool and escrowed for up to 3 years.
Going public via RTO, with transaction closing early March 2016.
Fairmont Resources Inc. (FMR:TSX-V)
Current Price: $0.05 (coverage commenced February 18/16 - $0.025)
Fairmont Resources Inc. has announced that 12 drill holes completed to the end of 2015 at the Forestville Quartzite Property have all been logged. See Table 1 for details on the drill hole locations, attitudes and quartzite intersections and Map 1 for a location of the drill holes and quartzite zones. All drilling was completed by the students and staff of the Le Centre de formation professionnelle de Forestville (Forestville CFP) under the supervision of Magnor Exploration. Analysis has yet to be completed on these holes, and is not expected to be completed until spring.
Drilling has intersected up to 60 metres of quartzite in hole FOR 15-002 at Zone D, however the true thickness of this zone is uncertain as the other two holes drilled in Zone D both ended in quartzite. The three holes completed on Zone D visually appear to be some of the cleanest quartzite encountered on the Forestville Quartzite Property to date.
Photo 1 Drill Setup at Zone D
Link to Photo: http://fairmontresources.ca/pdf/20160225P1.pdf
Photo 2 Typical Quartzite in Drillcore at Zone D
Link to Photo: http://fairmontresources.ca/pdf/20160225P2.pdf
Zone E was identified by in outcrops of quartzite approximately 2.3 km north of Zone D and one hole was targeted to test the quartzite at depth. No quartzite was encountered in drilling at Zone E due to less than optimal drill location.
Drilling from Zone F, a large area of newly identified quartzite, yielded encouraging intersections of quartzite. Zone F is 5 km northwest of Zone A on a continuous topographic ridge that has been mapped and interpreted to be a continuous ridge of quartzite. Four drill holes were completed at Zone F. In one area it is uncertain if drilling intersected bedrock or a massive block of quartzite that has come down as a large single block. Backhoe stripping or additional drilling is required to confirm this.
Photo 3 Zone A Outcrop, West Side of Quartzite Ridge
Link to Photo: http://fairmontresources.ca/pdf/20160225P3.pdf
Photo 4 Zone A, Drill Setup, East Side of Quartzite Ridge
Link to Photo: http://fairmontresources.ca/pdf/20160225P4.pdf
Photo 5 Typical Quartzite from Zone A Drilling
Link to Photo: http://fairmontresources.ca/pdf/20160225P5.pdf
Map 1 Fairmont's Forestville Quartzite Property with Quartzite Zones and Drill holes
Link to Map: http://fairmontresources.ca/pdf/20160225M1.pdf
Table 1 Quartzite Intersection in 2015 Drill Holes
Link to Table: http://fairmontresources.ca/pdf/20160225T1.pdf
In 1996 Vogue Resources tested Zone C with one hole directly in the zone, and one in close proximity to Zone C and drilled in close proximity to Zone B.
Results from Sigeom Report GM 54975 by Vogue Resources returned intervals as high as 36.45m of 99.15% SiO2 in hole LC199601. Results from holes LC9602 and LC9603 are very encouraging as well as they appear to be well west of the main quartzite ridge seen in Zones A, B, C and F, which may indicate a parallel quartzite zone or an increased thickness in the quartzite unit.
Table 2 Vogue Resources Drilling Results
Link to Table: http://fairmontresources.ca/pdf/20160225T2.pdf
Photo 6 Zone B Outcrop - photo taken from Zone C
Link to Photo: http://fairmontresources.ca/pdf/20160225P6.pdf
Photo 7 Zone C Outcrop - photo taken from Zone B
Link to Photo: http://fairmontresources.ca/pdf/20160225P7.pdf
Michael Dehn, President and CEO of Fairmont states “Having completed holes intersecting material thicknesses of quartzite in Zones A, D and F, along with the historical holes demonstrate that there is a large target of quartzite zones over many kilometres of strike length on the Forestville Quartzite Property. With additional work we expect to be able to show volumes and grades of several of the zones and hope to be able to start permitting this year.”
For additional information on the Forestville Quartzite Property, please see the company's Press Release dated February 18, 2015, available here: http://fairmontresources.ca/uploads/260.pdf
The technical information in this news release was approved by Mr. Jonathan Lalancette, Eng, a Qualified Person under NI 43-101 regulations.
Disclaimer: This article is for informational purposes only. The information contained within this article should not be construed as offering investment advice. Those seeking direct investment advice should consult a qualified, registered, investment professional. BOEs may be misleading, particularly if used in isolation. A BOE conversion ratio of 6 Mcf: 1bbl is based on an energy equivalency conversion method primarily applicable at the burner tip and does not represent a value equivalency at the wellhead. The company profiled assumes no liability for the information presented. This is not a direct or implied solicitation to buy or sell securities. Readers are advised to conduct their own due diligence prior to considering buying or selling any stock. The author(s) owns directly or indirectly 44,000 shares of Fairmont Resources Inc. QIS Capital may have a financial relationship with these companies and may trade in the stocks mentioned. No stock exchange has approved or disapproved of the information contained herein. Copyright © 2003 - 2016 QIS Capital Corporation.