LITHIUM PROPERTY REPORT COMPANY RECEIVES HIGH GRADE ASSAYS, DISCOVERS NEW PEGMATITE DYKE, APPLIES FOR DRILL PERMIT AND MOBILIZES SOIL SAMPLING CREW
Far Resources Ltd. (FAT.V) has received assay results for 17 rock samples collected from trenches and pits in the dikes 5, 6 and 7 dike swarm from Activation Laboratories (Ancaster, Ont.). These samples were collected by the Company's field crew during a recently completed trip to the property. Preparations are also underway for new exploration on the Zoro property including soil sampling and diamond drilling.
High Grade Assays
The most recent rock sampling program at Zoro was initiated subsequent to the identification of a spodumene bearing dyke swarm (the "Dyke Swarm") in the area of Dykes 5, 6, and 7. Historic trenches and pits blasted into these dykes were sampled to assess their lithium and related metal contents.
In a previous field trip, the Company collected and analyzed samples from Dykes 5 and 7 documenting Li2O contents that ranged from 1.46-6.35% in Dyke 5 and 1.35-2.91% in Dyke 7. Subsequent to the discovery of additional dykes in this area, all trenches and pits blasted into outcrop between Dykes 5 and 7 were sampled. Results document high grade lithium throughout Dyke 5 that range from 1.02% to 3.87% Li2O. Localized high grade lithium from Dyke 7 attains maximum Li2O of 2.59%. These results confirm the presence of high grade lithium assays in association with the dyke swarm in the area of Dykes 5 and 7.
Additional Pegmatite Dyke
Recently completed field work by the Company in the vicinity of Dykes 2, 3 and 4 has resulted in the discovery of an additional pegmatite dyke. It has been sampled in addition to all historic pits and trenches. A total of 60 rock samples have been collected and will be analyzed for lithium and a suite of related metals. Analyses will be undertaken by Activation Laboratories, an ISO-Certified laboratory.
A drill permit application has been prepared for submission to the Manitoba Government. The permit is for the drilling of 700 metres of core to assess segments of Dyke #1 where no modern drilling has taken place. The Company is working closely with Orix Geoscience Inc. in this regard. The program is planned for September.
In areas of buried outcrop on the Zoro Property soil surveys will search for the geochemical signatures of buried lithium-bearing pegmatite dykes. Two crews have been dispatched to the property for this purpose. Analysis of the soil samples will be accomplished using Mobile Metal Ions Technology. This technology measures the presence of metal ions in soils, such as lithium, that have moved from a buried pegmatite dyke vertically to the surface where they become incorporated in soil. These anomalies will help focus drilling. Analysis of the samples will be undertaken in the laboratories of SGS Mineral Services (Vancouver).
Keith Anderson, Far Resources President and CEO stated: "Our very busy field program at the Zoro Lithium Property continues to provide excellent assay results from the recently documented Dyke Swarm in the Dyke 5, 6 and 7 area. We look forward to the assay results of trench, pit and outcrop sampling in the area of historic Dykes 2, 3 and 4 and the new pegmatite dyke just located by our field crew. We will also continue our ongoing drill assessment of Dyke #1 with an additional 700 metres of core and assess soil-covered areas on the property with the Mobile Metal Ions Technology."
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. 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 currently has two mineral projects in place. The Zoro Lithium project covers a number of known lithium pegmatite occurrences and is located near Snow Lake, MB. Manitoba has been ranked as the world's second best jurisdiction for mining investment by the Fraser Institute. The second project is the Winston project in New Mexico, USA, another historic mining property with potential for silver and gold; New Mexico is also listed by the Fraser Institute, ranking in the top 25 mining jurisdictions in the world. Please visit our updated website at www.farresources.com for full details on our current projects. Far Resources has optioned its wholly owned Tchentlo Lake Property in British Columbia, Canada to Alchemist Mining Inc.
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.