PROJECT

Far Resources Zoro Lithium project hosts eight identified pegmatite dykes with high grade lithium found in six dykes to date.  The company has completed three drill programs on Dyke 1 delivering high-grade lithium assays from all drill holes.

Phase three drilling on Dyke 1 produced higher grade intervals including 2.19% Li2O over 4 m and 3.12% Li2O over 1 m.  Drilling expanded the dimensions of Dyke 1 and confirmed width and grades comparable to other more advanced lithium deposits.

The 2018 winter drill program assessed deeper levels (>150 m) of Dyke 1 to extend the amount of known high-grade lithium spodumene as well as to test recent high grade assay results from trench and outcrop sampling at Dykes 5 and 7.

A recent high-grade drill intercept of tantalum accompanied elevated tantalum and niobium in samples of drill core, outcrop and soils.

TIMING

The energy storage revolution is generating high demand for lithium with some analysts forecasting exponential increases in demand over the next few years. Battery giants are scaling up lithium-ion production with planned mega factories and some are acquiring raw materials through long-term offtake agreements. Companies already producing lithium are attempting to increase production. However, the majority of current production (both brine and hard-rock operations) are capacity constrained with geopolitical risk affecting some of the world’s major production areas.