Far Resources Identifies new Spodumene-Bearing Pegmatite Dykes Confirming a Dyke Swarm at its Zoro Lithium Property in Manitoba
July 27, 2017 – Vancouver, BC: Far Resources Ltd (CSE:FAT) (FSE:F0R) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to announce that on the basis of the recent field visit to the Zoro Lithium Property, the area of Dykes 5, 6 and 7 can be characterized as a dyke swarm (the “Dyke Swarm”). The full dimensions of the Dyke Swarm are obscured either by overburden or swamp and the ultimate dimensions can only be determined by future drill programs.
The Company’s field crew mobilized to the property on July 14, 2017 and have completed prospecting the area in and around Dykes 5, 6 and 7. Spodumene was confirmed in historic trenches and in surrounding outcrops for all of the dykes.
Keith Anderson, Far Resources President and CEO states: “The presence of a spodumene-bearing dyke swarm encompassing Dykes 5, 6 and 7 is exciting in terms of exploration potential and resource building. With the success of this field program we are looking forward to completing further work to assess Dykes 2, 3 and 4 for additional mineralized pegmatites. This field work will lay the ground work for further drilling in the winter of 2017.”
About Dykes 5, 6 & 7
Dyke 7 is exposed over 220 metres until it trends beneath a swamp at its northern limit. In addition, the recent field work discovered that Dyke 7 has two smaller “East” and “West” pegmatite dykes associated with it, both of which are also mineralized with spodumene and possible tantalite. The East Dyke has a strike length of about 75 metres, is about 2 to 3 metres in width and extends beneath overburden to the southeast. The West Dyke has a strike length of about 80 metres and is up to 13 metres in width. Twenty-one pits and trenches were documented from Dyke 7 and eleven samples were collected for assay.
Dyke 5 has a strike length of 250 metres and ranges from 2 to 12 metres in width at surface. Possible further extensions at both ends is obscured by overburden. This observed strike length confirms the historic estimates of 600 to 1000 feet. It has been exposed with 19 pits/trenches all of which contain spodumene and possible fine-grained tantalite. A total of seven rock chip samples were collected for assay from trenches on this dyke.
Dyke 6 can be traced in outcrop for about 100 metres over widths of 0.5 to 2 metres. It has not been exposed by trenches or pits and remains untested although spodumene in present in the dyke.
The 18 rock chip samples will be sent to Activation Laboratories for lithium and multi-element analysis and results will be reported in upcoming news releases. The Company is planning further field work to assess the area around Dykes 2, 3 and 4 for additional clusters of spodumene-bearing dykes given the similar geological setting of these dykes to Dykes 5, 6 and 7.
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.
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 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.