VANCOUVER, CANADA February 19, 2019 – Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) is pleased to announce that it has completed the fifth diamond drilling campaign and discovered five new pegmatite dykes at its 100% owned Zoro Lithium Project, near Snow Lake in mining-friendly Manitoba. This brings the total number of mineralised pegmatites discovered so far at Zoro to thirteen covering at least a third of the 3,005 ha property.
Drill programme results: discovery of new dykes
The five new dykes were discovered by targeting geochemical anomalies in the northern portion of the Zoro property. Each of the new dykes are spodumene- and tantalite-bearing, similar to the eight dykes already known on the property.
These new discoveries highlight the potential for a major pegmatite field existing below the till cover while expanding the pegmatite field approximately 3 km to the north. Furthermore, a new discovery to the south of the Dyke 1 resource, where 1.1 million tonnes of Li2O grading 0.91% has been delineated so far, shows potential for significant expansion to the south, where no exploration has yet taken place.
Intersections of spodumene- and tantalite-bearing pegmatites ranged from 0.2 metres in hole FAR18-46 to 13.4 metres in hole FAR18-56. All samples have been dispatched and assay results are expected in the following month.
Of particular note is the area between Dyke 8 and newly discovered Dyke 12 (Figure 1) near the northern extremity of the Zoro property. The intervening area of approximately 3 km is characterised by multiple lithium MMI anomalies defined by exploration in the summer of 2018 but not tested during this drill campaign.
“Once again, Far shows the potential of this exceptional project,” stated Toby Mayo, President and CEO of Far. “The scalability is now unquestionable, with at least a third of the property now known to host mineralised dykes. Meanwhile, the property to the west and south of Dyke 1 remains entirely unexplored. Both areas offer huge potential for the discovery of additional pegmatite dykes.”
A total of 3,054 metres of drilling were completed in 22 holes during this exploration campaign, including holes drilled for metallurgy. In total, the five campaigns amount to 8,406 m in 60 holes. Of these, three holes were drilled to complete metallurgical test work on the Dyke 1 pegmatite.
Figure 1. Summary of all pegmatite dykes discovered on the Zoro property to date including Dykes 9 through 13 intersected during the fifth drill campaign.
Previously all pegmatite dykes were hosted in one restricted metavolcanic package; however the new discoveries have shown they occur in a variety of lithologies thus increasing the potential and enlarging the search radius on the property.
The use of Mobile Metal Ions (“MMI”) Technology to target drilling beneath cover continues to provide a technology to “see” beneath variable thickness of inorganic and organic soils and post-mineralization cover in the search for new lithium-bearing pegmatites. It is a cost-effective and successful approach to exploration on the Zoro project and will lead to more rapid advancement towards estimates for tonnage and grades for the lithium resource on the Zoro project. MMI analyses were performed by SGS Mineral Services (Burnaby, Canada).
A summary of the drill holes that intersected the new pegmatites is given in Table 1 and Figure 1 illustrates the location of all known pegmatite dykes discovered on the Zoro property to date.
Expansion of Dyke 8
Dyke 8 remains open in all directions. It has been intersected by six holes for a total of 682.5 m in two drill programmes and shows the potential for considerable tonnage.
Far’s drilling has successfully added a new dimension to the morphology of the dyke, which now has been shown to have a strike length of at least 85 m, with down dip intersections of 100 m and true thickness of up to 15m.
Once the assays have been received work will progress to model the body and add it to the inventory.
Sampling, preparation and analysis
Core samples are being logged, cut, bagged and shipped from Far’s core logging and preparation facility in Snow Lake to Activation Laboratories (Ancaster, Ontario) for the analysis of lithium and a multi-element suite of elements referred to as UT-7. This method is based upon a sodium peroxide fusion which captures total amounts of lithium and related elements in the sample.
All core for metallurgy has been forwarded to SGS Lakefield and testing has commenced.
Table 1. Summary of drill holes intersecting new pegmatite dykes and widths. All UTM coordinates in NAD83, Zone 14.
The technical content of this news release has been reviewed and approved by Mark Fedikow P.Geo., a qualified person as defined under National Instrument 43-101.
Far Resources is a Canadian battery and technology minerals exploration and development company with exploration projects in Canada and the USA. More information on Far is available at www.farresources.com.
Terri Anne Welyki
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.
Forward Looking Statements
This news release contains forward-looking statements, which relate to future events or future performance, including our planned exploration for the Zoro Lithium Property, 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.