Far Resources Announces Plans for Ongoing Exploration and Future Drilling on its Zoro Lithium Property in Manitoba
January 31, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) www.farresources.com (“Far Resources” or the “Company”) is pleased to announce plans for additional exploration based on results from recently completed field work, ongoing analysis of drill data and modeling of historic information.
Recent exploration on the property by Far Resources has identified locations of drill sites and collars from historic exploration of lithium-bearing pegmatite dykes on optioned ground adjacent to the Zoro1 claim and principal Dyke #1. Far Resources is preparing a three dimensional model with the new field data in combination with historic information to identify high priority drill targets. This approach led to the successful drill testing of Dyke #1 (see the Company’s news release dated January 9, 2017).
The Company is also planning a geological mapping and prospecting program to commence as soon as snow cover permits for the assessment of high-grade lithium-bearing pegmatite dykes in trenches blasted at dykes 2 through 7, , to the northeast of Dyke #1. This work will involve exploration for additional pegmatite dykes reported in outcrop but not assessed by trenching. The geological results will be used to plan further exploration and support upcoming drill programs.
Based on further information obtained from the recent drill program amended weighted averages from seven drill holes are presented in Table 1, below.
Table 1. Amended weighted averages for Li2O from seven drill holes at the Zoro lithium property
* Hole bottomed in spodumene-bearing pegmatite
Keith Anderson, President and CEO, commented, “We are keen to continue our exploration and drill program on the Zoro Lithium Property which has already confirmed positive lithium results on Dyke #1. The expanded Zoro Project is highly prospective and we hope to continue advancing it given the continued positive outlook for lithium in the green energy sector. We are pleased to be attending PDAC where we can present our results and strategy face to face to our stakeholders”.
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. Please visit our website at www.farresources.com for full details. 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 has option agreements in place on the Zoro Lithium Property in Manitoba, Canada and the Winston Property in New Mexico, USA. 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 including but not limited to capital and operating costs varying significantly from estimates, delays in obtaining or failures to obtain required governmental, environmental or other project approvals, uncertainties relating to the availability and costs of financing needed in the future, changes in equity markets, inflation, delays in the development of projects and the other risks involved in the mineral exploration and development industry. Specifically, mining and exploration is subject to numerous risks factors as set out in the Company's public documents filed on SEDAR. 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.
This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.