Far Resources Announces Highest-Grade Intercept from Drill Results from 2018 Winter Program at Zoro Lithium Project in Manitoba - Video Available on Investmentpitch.com
Vancouver, British Columbia--(Newsfile Corp. - May 8, 2018) - Far Resources (CSE: FAT) (FSE: F0R) (OTC Pink: FRRSF) announced results from its 2018 winter drill program at its Zoro Lithium Project, which is located near the historic mining community of Snow Lake in mining friendly Manitoba.
The 16-drill hole program totaling 2,472 metres, targeted the spodumene-bearing pegmatites on the property, reported the highest grade intercept to date. The 2018 winter drill program tested Dyke 1 below 150 metres to access the continuity of lithium mineralization.
Drill hole FAR 18-23 intersected 5 metres of 1.6% Li2O, confirming the continuation of high-grade mineralization at deeper levels in the dyke. The high-grade nature of Dyke 1 was further confirmed in hole FAR18-20 which intersected nearly 16 metres of 1.8% Li2O, representing the highest-grade intercept over significant widths drilled to date on Dyke 1.
Assay results from drill hole FAR18-35, which tested a new discovery at Dyke 8, of a previously unknown high-grade lithium-bearing dyke, targeted a lithium-tantalum Mobile Metal Ions soil geo-chemical anomaly, included three separate intercepts of high-grade lithium including 12.3 metres of 1.1% Li2O, 4.4 metres of 1.2 % Li2O and 2.2 metres of 1.5% Li2O. These results are interpreted to be comparable to those for Dyke 1 and signify the potential for a second major lithium resource on the property. Additional drilling of Dyke 8 is being planned to expand this new discovery in three dimensions.
Far is updating its internal NI 43-101 Technical Report to include results from its 2018 winter drill program, which will include its first non-historic lithium resource.
The company has recently acquired an option on the Hidden Lake Property in NWT where seven samples were collected from surface trenches contained between 1.37 % and 3.01 % Li2O. The company is currently assessing its exploration strategy for this new acquisition.
Toby Mayo, Interim CEO, stated: "We are clearly very excited by these results, which show not on-ly the consistency of high-grade mineralisation at depth at Dyke 1, but also the potential for adding significantly to the Company's future resource base through our ongoing, multi-faceted exploration approach. Furthermore, the recently completed aeromagnetics survey, combined with a planned expansion to the highly successful MMI (Mobile Metal Ions) programme, give us great confidence in adding more high-grade lithium at Zoro. Meanwhile, we are eager to commence drilling at Hid-den Lake in NWT, where we expect to achieve similar results in the next month."
In the United States, the company owns the Winston project in New Mexico, another historic mining property with potential for silver and gold.
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