Far Resources Intersects 35 metres of Spodumene in Dyke 1 and Mobilizes Drill to Additional High-Grade Dykes on its Zoro Lithium Property, Manitoba
February 13, 2018 – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to report that initial drilling has intersected wide zones of spodumene in Dyke 1 on their Zoro Lithium Property near Snow Lake Manitoba. The Company expects to drill a minimum of 2000 metres to test for the extension of high grade lithium below 200 metres in previously untested areas of Dyke 1. As drilling proceeds in Dyke 1, helicopter and drill pads are being prepared to provide access to additional high-grade lithium-bearing dykes on the property. Surface outcrop sampling by Far Resources’ field crews returned values of up to 6.35% Li2O in these dykes (see news releases dated October 26 and September 7, 2017). Assistance with the helicopter-assisted drill program is provided by Gogal Air Services. The drill contract was awarded to Westcore Drilling. Both companies are Manitoba corporations and based in Snow Lake.
Wide zones of spodumene-bearing pegmatite have already been intersected below 200 metres in Dyke 1 pegmatite, with the winter 2018 drill program at Zoro still in its early stages. Drill holes FAR18-PLN-020, FAR18-PLN-023 and FAR18-PLN-026 (See Figure 1) have intersected zones of coarse grained light green spodumene over 35 metres, 33 metres and 17 metres, respectively. This style of spodumene is a characteristic of Dyke 1 as documented from outcrop on the property and in intersections from the Company’s recent shallow drilling. The drill is currently being mobilized to adjacent high-grade dykes for drill testing.
Core will be logged, cut and sampled in Snow Lake, following which it will be shipped in batches to Activation Laboratories of Ancaster, Ontario, an ISO-certified laboratory. Assays will test the contents of the samples for lithium and a multi-element suite of metals. Results of these assays will be released upon receipt of the final lab reports.
Keith Anderson, President and CEO, commented, “These initial wide intercepts of spodumene mineralization in deeper levels of Dyke 1 at Zoro are providing us with the confidence that high-grade lithium mineralization can be traced to depth from surface and shallow levels in the Dyke. We enthusiastically look forward to the rest of the drill results at Dyke 1 and equally so for those testing additional high-grade lithium dykes on the property where little to no historic diamond drilling has been undertaken.”
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 areas of interest with mineral projects in place in Canada and the United States. In Canada, Far Resources is actively drilling its Zoro Lithium project located near Snow Lake, MB which covers a number of known lithium pegmatite occurrences and. Manitoba has been ranked as the world’s second best jurisdiction for mining investment by the Fraser Institute. The Company has recently acquired an option on the Hidden Lake Property in NWT and is currently assessing its exploration strategy for this new acquisition. In the United States, the Company owns 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 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
FOR FURTHER INFORMATION, PLEASE CONTACT US AT
( 833-327-7377 ext 700
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.