Far Resources Reports High-Grade Lithium Mineralization from Dyke 7 Zoro Lithium Property, Snow Lake, Manitoba
May 2, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) www.farresources.com (“Far Resources” or the “Company”) is pleased to announce it has received assay results of two composite rock chip samples collected from Dyke 7, one of seven known spodumene-bearing pegmatite dykes present on recently optioned adjacent ground, part of its Zoro lithium property near the historic mining centre of Snow Lake, Manitoba.
The two samples were collected by Far Resources field crews during mucking of boulders and debris from historic blasted trenches on the optioned portion of the Zoro property. Dyke 7 samples were collected to expand the assay database on the property and as part of an ongoing quality control program to compare lithium contents in historic rock assays with modern assay technology. This contributes to the Company’s efforts to build its geologic understanding of the distribution of lithium mineralization on the property.
Analyses for these samples are presented as percentages of Li2O in Table 1 along with historic assay data and other assays by the Company. Results compare favourably with elevated lithium contents from recent assaying of spodumene-bearing pegmatite dykes and are significantly higher than the range of historic values reported in Manitoba government assessment files.
New assay data will be compiled with the revised geologic database to plan a ground-based mapping and exploration program integrated with available LIDAR data on the property once snow cover is permissive.
Table 1. Summary of lithium assay data from historic exploration and recent confirmatory exploration by Far Resources Ltd. at dykes 2, 4, 5 and 7.
Keith Anderson, President and CEO, commented, “We continue to be pleased with the lithium contents of our pegmatite dykes on the Zoro property. New assays from Dyke 7, like those from other known pegmatite dykes on our optioned ground, are significantly higher as compared to historic assays. These data will help to build confidence in our evolving geologic model which will guide exploration as we move forward with future drill programs and geologic mapping and prospecting integrated with LIDAR surveys. With this in mind we anxiously await assays from our recently completed drill program.”
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. 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 two option agreements in place. The Zoro Lithium Property 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 option is on the Winston Property 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 updated 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.
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 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.