Far Intersects 23m of 1.10% Li2O from Initial Drilling on Zoro Lithium Property, Manitoba
Vancouver, BC (FSCwire) - Far Resources Ltd. (CSE:FAT) (FSE:F0R) (“Far Resources” or the “Company”) is pleased to announce it has received assay results from its seven hole, 1140 metre drill program on the Zoro lithium property in Manitoba. The focus of this initial drill program was to verify historic drilling on Dyke #1, one of seven known lithium-bearing dykes on the Zoro property. Assays were carried out by Activation Laboratories of Ancaster, Ontario, an ISO-Certified laboratory.
Each of seven drill holes intersected lithium-bearing pegmatite mineralization over intervals of up to 28 m. These intercepts compare favorably with historic data reported by Green Bay Uranium Ltd. in 1956. The main lithium-bearing mineral present in all holes is coarse-grained spodumene. Results from the initial seven holes are presented in Table 1 below.
Table 1. Weighted averages for Li2O from seven drill holes at the Zoro lithium property.
|DDHFAR16-1||1.49% Li2O over 2m|
|DDHFAR16-2||1.07% Li2O over 7m*|
|DDHFAR16-3||1.12% Li2O over 9m|
|DDHFAR16-4||Maximum 0.55% Li2O|
|DDHFAR16-5||Maximum 1.30% Li2O|
|DDHFAR16-6||0.77% Li2O over 8m|
|1.31% Li2O over 1.42m*|
|DDHFAR16-7||1.10% Li2O over 23.39m|
|1.18% Li2O over 4.11m|
Based on these initial results, it appears that lithium grades and pegmatite widths are strongest in the northwest portions of Dyke #1, as shown by the wide, high grade intersection in DDH 16-7. Further exploration including additional drilling will focus in this area of the dyke. At the south end, DDH 16-1 intersected multiple thin pegmatite intervals, possibly due to faulting.
Far Resources consultants will be meeting in Vancouver during the Cordilleran Roundup to plan ongoing exploration and drill programs on the Zoro lithium property. Upcoming exploration will include assessment of an additional six spodumene-bearing dykes on ground recently optioned from Strider Resources (see news release August 10, 2016 and Table 2). A crew is immediately being mobilized to undertake a field assessment of these dykes.
Table 2. Summary of lithium assay data from historic exploration and recent confirmatory sampling by Far Resources Ltd.
|Dyke||Sample||Far Resources Ltd.||Historic Assays|
Keith Anderson, President and CEO, commented, “We are pleased that the results from our first drill program on the Zoro lithium property compare favorably with historic data. We have identified higher-grade portions of Dyke #1 which will be the focus of further exploration. Additionally, upcoming field work will assess six other known lithium-bearing pegmatite dykes on the property, where reconnaissance sampling over the summer returned values of up to 6.35% Li2O”.
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. Please visit our newly updated website at www.farresources.com for full details. 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 option agreements in place on the Zoro Lithium Property in Manitoba, Canada and the Winston Property in New Mexico, USA. Far Resources has optioned its wholly owned Tchentlo Lake Property in British Columbia, Canada to Alchemist Mining Inc.