Far Resources Completes Phase 2 Drill Program at its Zoro Lithium Property, Snow Lake, Manitoba
April 25, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) www.farresources.com (“Far Resources” or the “Company”) is pleased to announce the completion of the Phase 2 drill program on its Zoro Lithium Property near Snow Lake, Manitoba as announced on April 4, 2017.
The drill program was designed to expand on the results of the Phase 1 program and the historic 1956 drilling with related assays. The objective of the Phase 2 drill program was to test the Dyke 1 pegmatite within 150m from surface and along strike. The holes were designed to infill previously untested areas of the pegmatite approximately 30m to 50m from historical and Phase 1 drill intersections. The density of the Phase 1 and 2 drillholes are spaced with the intention of working towards the Zoro Lithium Property’s first NI 43-101 resource as defined by NI 43-101 – Standards of Disclosure for Mineral Projects.
A total of 1088 metres of NQ core were completed during the Phase 2 drill program with all seven holes intersecting the spodumene-bearing Dyke 1 pegmatite. The intersections reflect the historical results and those predicted by the three-dimensional model. Of significance in the recently completed program were wide intervals of pegmatite intersected in drillholes FAR17-010 and FAR17-012. FAR17-010 intersected spodumene-bearing pegmatite over 53.7m (162.9-216.6m) and FAR17-012 intersected coarse spodumene crystals (up to 15cm in length) between 103.4m and 115.6m (12.2m).
Subsequent to logging, a total of 167 core samples were shipped to Activation Laboratories (Ancaster, Ontario) an ISO certified laboratory for lithium and multi-element analysis. Results will be reported when all assays have been received.
Keith Anderson, President and CEO, commented, “We are pleased with the results of the Phase 2 drill program and encouraged by the 53.7m of spodumene-bearing pegmatite intersected in drillhole FAR17- 010. This intersection confirms the potential for very wide drill intercepts of spodumene-bearing pegmatite beginning at depths of 120m below surface. The consistent coarse spodumene crystals in hole FAR17-012 shows that Dyke 1 can host very significant widths of high-percentage spodumene.”
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.
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. Please visit our updated website at www.farresources.com for full details. 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 has option agreements in place on the Zoro Lithium Property in Manitoba, Canada and the Winston Property in New Mexico, USA. Far Resources has optioned its wholly owned Tchentlo Lake Property in British Columbia, Canada to Alchemist Mining Inc.
ON BEHALF OF THE BOARD OF DIRECTORS OF FAR RESOURCES LTD.
Keith C. Anderson, President 604-805-5035
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.