Far Resources Receives Drill Permit and Immediately Mobilizes Crew to Zoro Lithium Property
September 15, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to provide an update on recent developments as it advances exploration on its Zoro Lithium Property located near Snow Lake in mining friendly Manitoba.
Manitoba’s office of Sustainable Development has issued a drill and work permit to the Company for the drilling of 700 metres of core to assess segments of Dyke #1 where no modern drilling has taken place. The drill and crew are being mobilized to the site right now with helicopter assistance provided by Gogal Air Services.
On September 7, 2017, the Company reported that it had collected 60 rock samples during field operations at Dykes 2, 3 and 4. This operation was designed to assess the lithium and related metal contents in these dykes and representative samples were collected from all historic pits and trenches. These samples are now being shipped to Activation Laboratories, an ISO-Certified laboratory for analysis. Far will release the results of these analyses upon receipt of the lab reports.
The Company has entered into a letter agreement with Gogal Air Services to provide drilling and associated support services at a total cost of $157,150 payable as follows: $69,000 cash and $88,150 payable as Common shares in the equity of the Company at a deemed price of $0.31 per share upon completion of the services.
Keith Anderson, Far Resources’ President and CEO notes “These are busy and exciting times for Far, as our drill program to further assess Dyke 1 on the Zoro property and our rock sampling program on Dykes 2, 3 and 4 move forward rapidly. Add to that our currently ongoing soil geochemical survey, and we look forward to a wealth of new data coming our way. The data we receive will be used to prepare an updated NI 43-101 Technical Report and to assist in our decision-making process for planned upcoming drill programs”.
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.
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.
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.