VANCOUVER, British Columbia, Nov. 15, 2021 (GLOBE NEWSWIRE) -- (CNSX:FAT.CN) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“FAR Resources” or the “Company”) is pleased to announce gold assay results from sampling undertaken on its recently acquired Jean Lake property, located in the historic Snow Lake mining district in Manitoba.
A short prospecting program of confirmatory rock chip sampling on the eastern portion of the Jean Lake property has returned assay results of up to 20.9 g/t gold (Table 1). Sample collection targeted historic gold occurrences from published and non-published reports. Sample locations and results are shown on a map on the Company’s website.
Of fifteen rock chip samples collected all but one exceed 1 g/t gold. Grab samples representative of mineralization exposed in outcrop and in pits were collected from pervasively silicified wallrock containing brecciated and mineralized quartz veins. The deformation observed in the rocks sampled is attributed to faults cutting the eastern portion of the Rex Lake Pluton which is bounded on the east by the crustal scale Grass River Fault.
The gold mineralization is associated with disseminated and near-solid fracture fillings consisting of fine grained to blocky arsenopyrite with lesser pyrite and chalcopyrite.
John Gammack, President and Chief Executive Officer stated: “This confirmation of significant gold potential on the Jean Lake property in addition to the recently documented lithium potential (refer news release dated September 28, 2021) gives added impetus to our planned drone-supported remote sensing and geophysical survey work over the property later this winter. This work is partly funded by a grant from the Manitoba Mineral Development Fund (MMDF) which will allow us to accelerate the planned work. I would also like to take this opportunity to express my sincere gratitude to Dr’s Mark Fedikow Ph.D. P.Geo and Lindsay Bottomer Ph.D. P.Geo for their professional exemplary work creating shareholder value.”
Table 1. Summary of gold assay results, Jean Lake property.
|Sample||UTM East||UTM North||PPB Gold||G/T|
Far Resources has implemented an internal quality assurance and control (QA/QC) program that follows industry best practices. Rock samples were submitted to Activation Laboratories Ltd., a NATA certified laboratory located in Ancaster, Ontario for gold fire assay and INAA finish based on a 30-gram sample.
A graphic accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/2d5af929-9ac4-4c0d-9f15-2d9448dd8bcc
The technical information in this news release has been reviewed and approved by Lindsay Bottomer, P.Geo, and Qualified Person as defined by Canadian National Instrument 43-101-Standards of Disclosure for Mineral Projects.
FAR Resources' Winston Gold and Silver Project includes on-going exploration of their 100 percent owned property located in the Black Range of New Mexico USA. Recent results included exceptional numbers from property-wide confirmatory sampling completed in late 2020 with grades of up to 66.5 g/t gold and 4619 g/t silver. The property’s three mines, Ivanhoe, Emporia and Little Granite are known for their historic production of high-grade gold and silver ores, primarily developed prior to the 1930's with a brief revival in the 1980's but have seen little modern exploration. Full data tables and info can be viewed here on pages 14, 17,19 and 20: https://farresources.com/images/investors/presentation/precious_metals_deck/precious_metals_deck_revised-26Mar2021.pdf.
FAR Resources also has its 100 percent owned ZORO Lithium Project, in CANADA, located in the mining-friendly Snow Lake region of Manitoba containing numerous known lithium deposits. The company has completed five drill programs on the property leading to the discovery of at least 12 lithium-bearing pegmatite dykes. FAR Resources also holds a 60% stake in the Hidden Lake Lithium Project in the Northwest Territories FAR Resources also has its 100 percent owned ZORO Lithium Project, in CANADA, located in the mining-friendly Snow Lake region of Manitoba containing numerous known lithium deposits. The company has completed five drill programs on the property leading to the discovery of at least 12 lithium-bearing pegmatite dykes. FAR Resources also holds a 60% stake in the Hidden Lake Lithium Project in the Northwest Territories hosting at least 10 lithium bearing spodumene pegmatite dykes with average lithium concentration of 1.03% Li20 and individual samples grading up to 3.3% Li20.
To read more on both lithium properties and past exploration details, click here: https://www.farresources.com/images/investors/presentation/sustainable_energy/REVISED_SUSTAINABLE_ENERGY_PRESENTATION.pdf
For further information, please contact:
President and CEO
Far Resources Ltd
+1 (604) 374-5561
Robert Dinning, CPA
Far Resources Ltd
+1 (604) 970-0901
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.
Forward Looking Statements
This news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, 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 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.