Far Resources Mobilizes Field Crew to Initiate Systematic Assessment of Newly Documented Spodumene-Bearing Pegmatite Dykes, Zoro Lithium Property, Snow Lake, Manitoba
July 11, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to announce it is initiating a helicopter-supported systematic assessment of additional spodumene-bearing dykes (the “Dykes”) recently documented on the Zoro Lithium property (cf. July 3, 2017 news release).
Between June 18 and 20 of this year the area of spodumene-bearing dykes 5 and 7 were visited by Far Resource’s technical and management team resulting in the discovery of previously unreported pegmatite dykes. These new spodumene-bearing dykes occur between and adjacent to historic dykes 5 and 7 where the Company has reported high-grade lithium mineralization from multiple assay samples. These new zones of spodumene-bearing pegmatite were exposed in pits and trenches as well in outcrop but were unreported in the Manitoba government assessment files.
The field crew will mobilize July 10 and operate from a bush camp located adjacent to the Dykes and will operate with initial helicopter support. The program will include the acquisition of UTM coordinates of individual pits, trenches and pegmatite-bearing outcrop as well as the collection of representative outcrop chip samples from each of the Dykes. Samples will be analyzed by Activation Laboratories, an ISO-certified laboratory, with results reported in subsequent news releases. Geologic information gathered from the area of these new Dykes will be used to supplement historic data from the Manitoba Government assessment files with the aim of building a 3-dimensional model for the Dykes thereby providing guidance for a planned drill program.
Orix Geoscience has finalized a 3D model of dyke#1 based on historic data and two recent drill programs on the property. Subsequent to review of the model additional drilling on dyke#1 is planned.
Far Resources President and CEO Keith Anderson states: “We are anxious to get started on the assessment of new spodumene-bearing dykes on our optioned ground. The area will be systematically explored and documented as we build the database for this portion of the property. Historic and new data will be synthesized with the construction of a 3-dimensional model for the purpose of future planned drill testing of these Dykes. We also await lithogeochemical assay results and mineral analyses from drill core samples collected during our last trip to the property. Data will be reviewed with guidance from Western University’s Dr. Bob Linnen, and Dr. Tania Martins of the Manitoba Geological Survey, with the aim of developing exploration techniques applicable to the remainder of the property.”
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.
About the Company
Far Resources Ltd. is an exploration company, publicly traded on the Canadian Securities Exchange under the symbol FAT, focused on the identification and development of high potential mineral opportunities in stable jurisdictions. Far Resources may acquire or option properties of merit to meet its ongoing goal to locate, advance and unlock the potential of these mineral opportunities. Far Resources currently has two mineral projects in place. The Zoro Lithium project covers a number of known lithium pegmatite occurrences and is located near Snow Lake, MB. Manitoba has been ranked as the world’s second best jurisdiction for mining investment by the Fraser Institute. The second project is the Winston project in New Mexico, USA, another historic mining property with potential for silver and gold; New Mexico is also listed by the Fraser Institute, ranking in the top 25 mining jurisdictions in the world. Please visit our updated website at www.farresources.com for full details on our current projects. Far Resources has optioned its wholly owned Tchentlo Lake Property in British Columbia, Canada to Alchemist Mining Inc.
ON BEHALF OF THE BOARD OF DIRECTORS OF
FAR RESOURCES LTD.
Keith C. Anderson, President
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 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.