Far Resources release drilling results

   Far Resources Ltd. {TSX.V: FAT}

Completed 16 diamond drill holes at its 100-per-cent-owned Zoro lithium project near Snow Lake in Manitoba, resulting in both new discoveries and expansion of known mineralisation..

This round of drilling has resulted in the expansion of Dike 8, a high-grade spodumene-bearing pegmatite 

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Far Resources completes 16 drill holes at Zoro

2019-01-18 06:29 ET – News Release

Mr. Toby Mayo reports

 

FAR RESOURCES ANNOUNCES CONTINUED DRILLING SUCCESS AT ITS ZORO LITHIUM PROJECT, MANITOBA, WITH SIGNIFICANT EXPANSION OF DYKE 8 MINERALISATION AND DISCOVERY OF NEW SPODUMENE-BEARING PEGMATITE DYKES

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Far Resources Ltd. {TSX.V: FAT} has completed 16 diamond drill holes at its 100-per-cent-owned Zoro lithium project near Snow Lake in mining-friendly Manitoba, resulting in both new discoveries and expansion of known mineralisation.

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This round of drilling, the company’s fifth successful campaign at Zoro, has resulted in the expansion of Dike 8, a high-grade spodumene-bearing pegmatite Dike discovered last year by Far, and has led to the discovery of additional spodumene-bearing Dikes and unique lithologies suspected of being lithium and caesium-enriched to the north and north west of the existing Dike swarm.

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Three additional drill holes from the planned 21-hole program have also been completed for the collection of core samples for metallurgical testing. The remaining exploration holes will be drilled in January/February 2019.

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Toby Mayo, President and CEO of Far, stated: “We continue to make great advances at Zoro. These new discoveries provide further assurances of the potential for scale at the project. Furthermore, with Dike 8 open in all directions, we are in a strong position to build on our resource, adding to that currently defined on part of Dike 1 last year”

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Figure 1 illustrates completed drill holes to date and outstanding holes planned for drilling in 2019. All assay results are pending.Image: https://www.accesswire.com/users/newswire/images/532986/image1.png

Figure 1. Location of drill holes completed in 2018 and those planned for 2019 in relation to Dikes 1 and 8.

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Significant Expansion of Dike 8 mineralisation

Hole FAR18-017 was the first to be completed during the fifth drill campaign. It targeted newly discovered Dike 8 (DDHFAR18-34 and -35; February 2018) and intersected 13 metres of well-mineralised spodumene, extending the zone of lithium mineralization to the east by approximately 30 metres.

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Subsequent drill holes (FAR18-039, -040, -041 and -058) were drilled to define the geometry of Dike 8: it currently has a strike length of at least 90 metres, a width varying between 5 and 15 metres, and extends vertically to a depth of more than 100 metres. Dike 8 remains open in all directions and is potentially related to Dike 3 by way of folding and/or faulting. Deformation, including tightly folded pegmatites, have been documented recently by Benn (2018a) in a 1:4000 scale mapping project and again by Benn (2018b) as part of an M.Sc. thesis study of the area.

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Dike 8 and related drill holes are illustrated in Figure 2.Image: https://www.accesswire.com/users/newswire/images/532986/image2.png

Figure 2. Plan view and long and cross sections of Dike 8 with related drill holes and Dike 3.

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Discovery of New Dikes

New spodumene-bearing pegmatite Dikes were intersected by drill testing some of the 50+ Mobile Metal Ion anomalies defined by soil surveys on the Zoro lithium project. This is significant as it proves the potential to add significant tonnes through further drilling on these targets.

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The new discoveries were intersected by five holes (Far18-043 to -047, inclusive) along a 1.5 km lithium-caesium anomaly developed within and adjacent to a prominent overburden-covered lineament (Figure 1). This anomaly was described in an earlier news release (October 2, 2018). By comparison, the existing mineralization at Dike 1 covers a strike length of approximately 400 metres.

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Core samples have been submitted to Activation Laboratories to assess lithium and caesium contents in the quartz porphyry and pegmatite Dikes.

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Metallurgical Holes

Drill holes FAR16-07 (central Dike 1), 017-012 (north Dike 1) and 017-012R (south Dike 1) were re-drilled in 2018 to acquire spodumene-mineralised pegmatite for metallurgical testing. Spodumene intercepts were cut with a saw leaving quarter core in the core box for future reference. Material representative of the hangingwall and footwall to the pegmatite intercept were also included with the samples. Metallurgical testing will be undertaken by SGS Mineral Services at their Lakefield facility.

Subsequent to the Christmas/New Year shutdown the drill will be mobilised to test the four remaining targets. These targets occur south and along trend from Dike 1.

All drill core assays are currently pending.

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Sampling, Preparation and Analysis

Core samples are being logged, cut, bagged and shipped from Far’s core logging and preparation facility in Snow Lake and shipped 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.

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Options Issued

Pursuant to its Stock Option Plan, the company has granted incentive stock options to certain officers, employees and consultants to purchase up to an aggregate of 8,600,000 common shares in the capital stock of the company.

The options are exercisable at a price of $0.12 per share and will vest immediately. They expire on January 17, 2024.

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About Far

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.

Qualified Person

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.

References

Benn, D., Linnen, R.L. and Martins, T. 2018a: Geology and bedrock mapping of the Wekusko Lake pegmatite field (northeastern block), central Manitoba (part of NTS 63J13) in Report of Activities 2018, Manitoba Growth, Enterprise and Trade, Manitoba Geological Survey, p. 79–88.

Benn, D., Linnen, R.L. and Martins, T. 2018b: Bedrock geology of the Wekusko Lake pegmatite field (northeastern block), Central Manitoba (part of 63J13); Manitoba Growth, Enterprise and Trade, Manitoba Geological Survey, Preliminary Map PMAP 2018-2, (1:4000).

We seek Safe Harbour.