Far Resources is a leader in the Canadian energy metals sector. We are focused on acquiring and developing assets in the battery and technology metals sectors, including advancing its Zoro Lithium Project in the Snow Lake region of Manitoba, and advancing our strategy to develop technologies within the battery industry.
The energy storage revolution is generating high demand for battery metals with analysts forecasting exponential increases in demand over the next few years. Battery giants are scaling up lithium-ion production with planned mega and giga 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.
Our mission is to develop, produce, promote and deploy sustainable, high-performance and ethically-sourced components and raw materials throughout the power distribution and energy storage value chain.
We aim to be active through the entire energy cycle, secure access to and developing battery raw materials from current assets and new acquisitions, supporting scaled battery cell manufacturing and a full competitive value chain to support vertically integrated manufacturing projects at scale; and strengthening competitive advantage through research and innovation support to advanced and disruptive technologies.
01. A Greener, Brighter Future
Our mission is to develop, produce, promote and deploy sustainable,
high-performance and ethically-sourced components and raw
materials throughout the power distribution and
energy storage value chain.
Sustainability is a fundamental driver of our business as we look toward a brighter and cleaner future through the development of technology metals aimed at reducing reliance on carbon.
Far has adopted 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs), with the aim of mapping our activities to the SDGs developed by the UNDP, World Economic Forum, Columbia Center on Sustainable Development and Sustainable Development Solutions Network. The 2030 Agenda and SDGs represent the world’s plan of action for social inclusion, environmental sustainability and economic development.
But: Why Focus on Energy,
Metals & Technology?
We aim to be active through the entire energy cycle.
Bloomberg New Energy Finance (BNEF) predicts that the global energy storage market will grow to a cumulative 942GW by 2040, totaling $620 billion in investments.
The cost of battery storage prices has been dropping consistently year-on-year, with China, the US, India, Japan, Germany, France, Australia, South Korea and the UK lead the energy storage markets.
Currently at least 70 mega factories are being constructed on four continents (up from 17 in 2017). China is building 46 of those (66%).
Far will be perfectly positioned to service this rapidly-growing sector, with projects coming on line precisely when they are most needed.
The Zoro Lithium Project occurs in east-central Manitoba 20km east of the historic mining town of Snow Lake. The property consists of 16 claims with a total of 3,603 hectares and is proximal to excellent infrastructure and an experienced labour pool. Five drill programs totaling 60 drill holes and 8,406 metres of core accompanied by integrated prospecting and innovative soil geochemical surveys have rapidly advanced the property including the discovery of 13 pegmatite dykes. Only one-third of the property (2000 hectares) has been explored with modern technologies.
Dyke 1 (D1) is the principal spodumene-bearing pegmatite dyke on the property with a 43-101 compliant inferred resource of 1,074,567 tonnes grading 0.91% Li2O at a 0.3% Li2O cut-off. Metallurgical studies on D1 are ongoing. High-grade tantalum (0.117 % Ta2O5 or 927 ppm tantalum) and niobium are value added metals in the dykes.
In early 2018, Far expanded its lithium holdings to include an option on the Hidden Lake Lithium Project in Northwest Territories. The Hidden Lake Project consists of five contiguous mineral claims totaling approximately 1,659 hectares within the central part of the Yellowknife Lithium Pegmatite Belt along Highway 4, approximately 40 km east of Yellowknife. Under the terms of the option agreement, Far can earn up to a 90% interest in the Hidden Lake project.
Far also owns the Winston Gold Project in Sierra County, New Mexico, which covers several past-producing high-grade silver-gold mines. The company announced a plan of arrangement to spin out this project into a new company which will allow for more focus on advancing the Winston Project.
Research & Development
Far is working in conjunction with BattMat Technologies Inc., through our joint venture and the Electric Blue Research Vessel to develop, test, advance and commercialise battery-centred technologies and applications, including systems for distributed power, marine power and energy storage.
The BattMat team has extensive experience with evaluation, testing, design and integration of battery-related systems as well as with technology commercialisation and financing issues. BattMat seeks to identify the benefits, risks and trade-offs as well as implications of market trends for participants in the value chain.