October 23, 2018 – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (“Far” or the “Company”) is pleased to announce that it has finalised plans for the upcoming drilling programme at its 100% owned Zoro Lithium Project, Manitoba, where over 50 lithium targets have now been identified. Fifteen of these new lithium anomalies will be tested this winter, as well as further drilling on the high-grade lithium mineralisation discovered at Dyke 8.
Final preparations are underway for mobilisation of equipment to target numerous high-contrast, multi-sample Mobile Metal Ions (MMI) soil geochemical anomalies, which is expected to commence ahead of schedule and prior to ground freeze-up.
Toby Mayo, President and CEO of the Company, stated: “We knew we had a fantastic opportunity to expand known mineralisation at Zoro, but the results from last summer’s MMI programme have been better than we imagined. We are focussing this round of exploration on demonstrating the potential scale of the Project, as well as starting to build our understanding of Dyke 8. Any of these targets could be very significant discoveries, so we look forward to being on the ground sooner than usual to unlock this potential.”
The final Mobile Metal Ion (MMI) analytical database has been processed, interpreted and integrated with previous exploration datasets from the Companies exploration on the Zoro property (see October 2, 2018 news release). This procedure has defined 15 primary drill targets which include sites to the south and west of Dyke 1 and along a previously identified 1.5 km linear lithium-caesium anomaly (see news release October 2, 2018). The programme will commence at Dyke 8 where drill testing of an MMI anomaly in 2017 resulted in the discovery of previously unknown pegmatite-hosted high-grade lithium (see press release of May 7, 2018). The Dyke 8 drilling will be designed to define lateral and vertical extensions of this important mineralised zone. Drill targets are shown in Figure 1.
Figure 1. 2018 drill targets at the Zoro lithium project.
The fall drill programme contract has been awarded to Westcore Drilling with rotary air support provided by Gogal Air Services.
Core samples will be logged, cut, bagged and shipped from Far’s core logging and preparation facility in Snow Lake and shipped to Activation Laboratories (Ancaster, Ontario) for the analysis of lithium and a multi-element suite of elements referred to as UT-7. This method is based upon a sodium peroxide fusion which captures total amounts of lithium and related elements in the sample.
About the Company
Far Resources is actively drilling its Zoro Lithium project located near Snow Lake, Manitoba, which covers a number of known lithium pegmatite occurrences. The Company has recently acquired an option on the Hidden Lake Property in NWT and is initiating drilling for continuity of spodumene mineralization to depth. In the United States, the Company owns the Winston project in New Mexico, an historic mining property with additional potential for silver and gold. Please visit our website at www.farresources.com for full details on our current projects.
The technical content of this news release has been reviewed and approved by Mark Fedikow P.Geo., a qualified person as defined under NI 43-101.
ON BEHALF OF THE BOARD OF DIRECTORS OF
FAR RESOURCES LTD.
Toby Mayo, President and CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
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Tel: (416) 644-2020 or (514) 939-3989
The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.
This news release contains forward-looking statements, which relate to future events or future performance (including our planned exploration for the Winston Project, the Zoro Lithium Property and the Hidden Lake Property) and reflect management’s current expectations and assumptions. Such forward-looking statements reflect management’s current beliefs and are based on assumptions made by and information currently available to the Company. Readers are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. All of the forward-looking statements made in this news release are qualified by these cautionary statements and those in our continuous disclosure filings available on SEDAR at www.sedar.com. These forward-looking statements are made as of the date hereof and the Company does not assume any obligation to update or revise them to reflect new events or circumstances save as required under applicable securities legislation. This news release does not constitute an offer to sell securities and the Company is not soliciting an offer to buy securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.