Far Resources Receives High Grade Assays of 1.42% to 2.71% Li2O and Mobilizes Prospecting Team to Zoro Lithium Property and Prepares for Manitoba Mining and Minerals Convention
October 26, 2017 – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to announce that assay results for 60 rock samples collected from trenches and pits in Dykes 2, 3 and 4 on the Zoro Lithium Property have been received from Activation Laboratories (Ancaster, Ontario). Two prospecting teams have been mobilized to the property. The Company is also preparing to deliver two presentations at the Manitoba Mining and Minerals Convention in Winnipeg, November 15 and 16.
High Grade Assays
Company prospectors collected 60 representative rock chip samples from historic trenches and pits in Dykes 2, 3 and 4 at the Company’s Zoro Lithium Property. These samples were subsequently analyzed for multiple elements including lithium and related metals using Activation Laboratories “UT-7” analytical package.
Results document high grade lithium from Dykes 2 and 4 attaining maximum values of 1.42% Li2O and 2.71% Li2O, respectively. These results increase the number of known high grade lithium-bearing pegmatite dykes on the Zoro property thereby providing targets for planned upcoming diamond drilling.
Manitoba Mining and Minerals Convention
The Company will be attending the Manitoba Mining and Minerals Convention November 14 and 15 in Winnipeg. Two presentations based on the Zoro Lithium Property will be given at the convention. The first will be a description of the geological setting and exploration of the Zoro lithium-bearing pegmatites by Orix Geoscience Principal Geologist Shastri Ramnath. The second will be delivered by Dr. Robert Linnen of the University of Western Ontario and will describe the results of research into geochemical and mineralogical haloes adjacent to the Zoro Dyke 1 pegmatite and their application to exploration on the property.
Two prospecting teams have been dispatched to the Zoro Lithium Property at Snow Lake to commence exploration of newly optioned ground (see news release dated September 27, 2017). The teams will utilize LIDAR imagery to guide their examination and sampling of outcrop in this new area.
Keith Anderson, Far Resources President and CEO stated, “the number of significant lithium-bearing pegmatite dykes on the Zoro property continues to grow as our geoscientific data becomes available. Two prospecting teams are now on our newly acquired ground at Zoro to explore for new lithium-bearing pegmatite. We also anxiously await assay results from our recently completed drill program on Dyke 1. The geological setting and exploration of our Zoro property and results from research into new exploration guidelines for the property will be presented at the upcoming Manitoba Mining Convention where we will also have a booth. We are looking forward to showcasing our Zoro Lithium property at the convention.”
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 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 (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.