VANCOUVER, British Columbia, April 23, 2021 (GLOBE NEWSWIRE) -- FAR Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“FAR Resources” or the “Company”)
Far Resources Ltd. (CSE: FAT) is pleased to announce recent progress on its Winston Project in New Mexico. With recent claim staking completed, the project now totals approximately 2,900 acres and 149 claims. The additional claims were acquired following recognition that mineralization in the district is more extensive than the previously identified Little Granite and Ivanhoe-Emporia mine environs.
The newly identified NV-1 vein if located on newly acquired claims in the northern part of the property. The vein was sampled along 600 metres of strike and shows strong precious metal values at surface. Results from 12 samples taken along this vein trend returned averages of 2.83ppm Au with 89.7ppm Ag. This average includes a 0.5m chip sample which returned 12.3ppm Au with 381ppm Ag. One sample taken along this vein was removed from the stated average, as it was a select-grab which returned 20.6ppm Au with 21.0ppm Ag.
|NV-1, 12 samples|
To date, six major auriferous veins with a traceable strike length of more than 500 metres and a maximum length of 2.6 km have been identified. This work has been greatly facilitated by the acquisition of Lidar Bare Earth Terrane data and Satellite Imagery covering the project area and surrounds. All historic and modern data is being Integrated into a 3-Dimenionsal GIS.
Structure is a key component to epithermal-type gold properties. Vein mineralization is emplaced along pre-existing structural zones such as faults, fault intersections, and brecciated zones. Historic ore shoots in the Chloride District are located along zones of structural confluence and inflexions of vein geometry. With the acquisition of a high-resolution topographic model and strong ground control we are gaining an improved understanding of the structural controls to mineralization.
Low sulphidation epithermal vein systems such as those at Winston generally display marked vertical zonation in mineralogy, and chemistry, including distribution of precious metals. Mineralogical and fluid inclusion studies are planned to better define the characteristics of the Winston vein systems and optimize drill-targeting. Electrical and magnetic geophysical surveys are also under consideration.
A diamond core drilling program is being planned on the Ivanhoe-Emporia patented claims. This program may be extended to road-accessible targets in the northern part of the property, such as the NV-1 vein.
We are excited about the progress we are making on our New Mexico Winston project. It is home to 3 historic mines for our upcoming drilling program of 12 holes on the Ivanhoe Emporia Patented Claims. We are currently completing some additional claim staking which will round out Far’s Land position to approximately 3,500 acres.
Michael Feinstein, PhD, CPG, is the Qualified Person (Q.P.) responsible for the technical material contained in this document. All samples are collected and maintained in accordance with established QA/QC protocols. Analytical Services were carried out by ALS Minerals, an ISO/IEC 17025:2005 & ISO-9001:2008 accredited laboratory.
FAR Resources is a gold and silver exploration company focused in New Mexico USA. The Company owns the Winston Project there, a historic mining property with the potential for Bonanza-grade silver and gold. The property is steeped in history and historic samples, full data tables available at www.farresources.com/investors/. Far Resources also has its ZORO Lithium Project, in CANADA, located in the mining -friendly Snow Lake region of Manitoba and containing numerous known lithium deposits. The Company also holds a 60% stake in the Hidden Lake Lithium Project in the Northwest Territories.
President and CEO
Far Resources Ltd.
+1 (604) 374-5561
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 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.