MAY 29, 2018 – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“Far” or the “Company”) is pleased to announce the commencement of preliminary metallurgical studies on drill core from its high-grade Zoro Lithium Project, located near the historic mining town of Snow Lake in mining friendly Manitoba. Far has retained the services of SGS Canada Inc. to undertake the program, which will determine the suitability of Dyke 1 lithium mineralization to produce marketable spodumene concentrate.
Toby Mayo, President and CEO of Far, stated: “The initiation of this metallurgical program represents a major milestone in the development of the Zoro Lithium Project. This test work, along with the ongoing NI 43-101 technical report update and forthcoming maiden resource statement, is a significant step in de-risking the project. This, combined with exploration programs on two high grade lithium projects and the recent new discovery at Zoro, unquestionably places Far on track to become one of North America’s premier lithium companies.”
The preliminary metallurgical program is planned initially for Dyke 1 at Zoro. It is the first, modern mineralogical and metallurgical assessment undertaken on any of the Zoro pegmatites. While the initial program will examine the amenability of spodumene concentrate production from Dyke 1, the program can be extended to test production of final lithium extractions, lithium carbonate (Li2CO3) and lithium hydroxide (LiOH), both of which are vital in the manufacture of lithium-ion batteries.
The Zoro test work will initially include sample preparation, mineralogy analysis, heavy liquid separation (HLS) testing, dense media separation (DMS) and flotation testing. Preliminary phase transformation, acid roasting and water leaching for lithium extraction will lead to the development of a concentrate production flowsheet.
Generally, the program will have two phases over a period of some months. Phase one will comprise two steps: mineralogy, and mineral processing. The mineralogy phase will fully characterize all lithium bearing minerals such as spodumene and related gangue minerals and their characteristics for mineral liberation of the Dyke 1 lithium mineralization. These details will be used in Phase two which is the mineral processing phase. The objective will be to separate the spodumene mineralization from related non-ore minerals to form a high-grade mineral concentrate.
Samples of representative Dyke 1 mineralization will be collected from several localities in Dyke 1 for individual mineralogical and liberation characteristics assessment. If there are no significant differences between the various samples from Dyke 1 all samples will be bulked to form a composite for mineral processing experiments. The mineral processing will include magnetic separation, heavy liquid separation, grindability, and flotation tests. A preliminary flowsheet will be derived for Zoro Dyke 1 and the production of spodumene concentrate that can be of marketable quality.
Previous assay work undertaken by the Company has indicated elevated tantalum and locally caesium and niobium and as such the potential for the recovery of these related metals into a separate and unique concentrate in addition to a lithium concentrate will be assessed.
SGS Canada Inc. has been selected to undertake the mineralogical and metallurgical project on behalf of the Company based on their demonstrated expertise with spodumene pegmatite processing. All work will be completed at their Lakefield, Ontario laboratory.
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 & CEO
FOR FURTHER INFORMATION, PLEASE CONTACT
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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 and the Zoro Lithium 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.