Far Resources Plans 2017 Exploration on their Zoro Lithium Property, Snow Lake, Manitoba
June 6, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to announce it will initiate its 2017 exploration in mid-June with a multi-faceted program including geological mapping and prospecting, mineralogical and geochemical research and an upgrade of the 3D model for the Zoro Dyke#1 spodumene-bearing pegmatite. The approach will advance the geological understanding of the Zoro Lithium Property (the “Property”) and position the Company for its next drill program on the Property and lead to the development of a Technical Report in accordance with the requirements of NI 43-101 Standards of Disclosure for Mineral Projects. .
Far Resources’ management and technical consultants will be accompanied by highly experienced and well respected pegmatite scientists, Dr. Robert Linnen of the University of Western Ontario (London) and Winnipeg-based Dr. Tania Martins of the Manitoba Geological Survey, during a trip to the Zoro Lithium property in June. Both Professor Linnen and Dr. Martins will participate with the field examination to evaluate the possibility of academic research of the Zoro pegmatite system. Field exposures of Far Resources pegmatite dykes will be examined as well as core from two drill programs with the goal of developing parameters useful for targeting unknown spodumene-bearing pegmatite on the property and for additional zones of previously undetected spodumene within the known pegmatites. Prior to the field excursion, the current 3D model of the Zoro Dyke#1 pegmatite will be upgraded by Orix Geosciences with information from the Company’s recently completed drill program including drill logs and assay data. Geological and mapping programs for 2017 will be formulated during this Property visit.
In preparation for the upcoming exploration the Company has prepared a submission for a Mineral Exploration Assistance Program grant (MEAP) from the Manitoba Provincial government to assist with exploration expenditures. The Mineral Exploration Assistance Program (MEAP) Grant is designed to increase exploration and to stimulate activities that could lead to the development of new mines and industrial mineral deposits in Manitoba.
Far Resources President and CEO Keith Anderson states: “With the second round of drilling complete on Dyke#1 at the Zoro Lithium property and confirmation of the high-grade nature of lithium in this spodumene-bearing dyke we are anxious to plan for our 2017 exploration program with assistance from Drs. Bob Linnen and Tania MartIns. The planned activities will allow us to assess Dykes 2 through 7 on our optioned ground and also prepare for our next drill program at the Zoro1 dyke as we move towards a 43-101 Technical report”.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 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 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.
This news release does not constitute an offer of securities for sale in the United States. These securities have not and will not be registered under United States Securities Act of 1933, as amended, or any state securities laws and may not be offered or sold in the United States or to a U.S. Person unless so registered, or an exemption from registration is relied upon.