LANGUAGE

Vancouver, BC (FSCwire) - Far Resources Ltd (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“Far Resources” or the “Company”) is pleased to announce it has successfully completed a ten hole, 1,079 m drill program at its 1,849 hectare high-grade Hidden Lake Lithium Project near Yellowknife, NWT, with spodumene mineralised pegmatite intersected in every hole drilled. 

The drill program targeted pegmatite with high-grade lithium assays in surface outcrop channel samples and assessed the widths and extent of the four target pegmatite dykes at depth. Recently collected channel samples defined significant lithium mineralization over substantial intervals for each of the four surveyed dykes, including a maximum value of 1.75% Li2O over 6.01 metres. Surface exposures of the pegmatite are laterally continuous for up to 800 m but are locally overlain by organic and inorganic soil so their total strike length is likely greater. 

“This is the first program of drilling ever to be completed at this exciting project. The presence of spodumene at depth in every hole shows the potential for making a significant discovery at Hidden Lake,” commented Toby Mayo, CEO and President. “Furthermore, this round of exploration will have met the requirements for the first stage of our option on the property, taking our ownership to 60%.” 

The property is located approximately 45 km east-northeast from Yellowknife and can be reached by the all-weather Ingraham Trail Highway (Highway 4), and/or by charter helicopter or float plane. 

Drill Results 

Ten drill holes were completed on pegmatite dykes HL-001 through HL-004 (see Figure 1). Drill hole specific information is provided in Table 1 below.

Table 1. Drill hole summary, Hidden Lake lithium project.

 

 DYKE 

 DRILL HOLE 

 UTM EAST 

 UTM NORTH 

TOTAL
 LENGTH (m) 

PEGMATITE
 INTERCEPT (m) 

 WIDTH (m) 

 

HL18-001

374935

6936971

109

43.83-54.86

11.03

 

HL18-002

375023

6937090

101.34

38.86-45.55

6.69

 

HL18-003

374893

6936899

108.94

38.75-49.87

11.12

 

HL18-004

373748

6936978

106.19

54.02-61.61

7.59

 

HL18-005

373361

6937389

108.82

47.35-50.00

2.65

 

HL18-006

373440

6937524

108.94

49.43-57.15

7.72

 

HL18-007

373407

6937465

109

43.82-49.80

5.98

 

HL18-008

373361

6937389

108.94

34.044-39.66

5.6

 

HL18-009

373364

6937097

109.2

42.50-51.18

8.68

 

HL18-010

373306

6937011

109

37.60-45.28

7.68

Figure 1. Summary of targets, Hidden Lake 2018 drill program, Yellowknife area, NWT.

To view the graphic in its original size, please click here 

Spodumene-bearing pegmatite was intersected in each hole varying from 2.65 m to 11.12 m. The spodumene was present in drill core as

Pegmatite intersections in the drill core have been sawn in half and one half of the sample collected for assay. A total of 197 core samples have been shipped to SGS Mineral Services (Vancouver) for lithium and multi-element analysis including over-range lithium. The samples will be digested with a sodium peroxide fusion followed by ICP-OES/MS analysis. Results are pending but will be reported when assays are received. 

About the Company 

Far Resources is actively drilling its Zoro Lithium project located near Snow Lake, Manitoba, which covers a number of known lithium pegmatite occurrences. The Company has recently acquired an option on the Hidden Lake Property in NWT and is initiating drilling for continuity of spodumene mineralization to depth.  In the United States, the Company owns the Winston project in New Mexico, an historic mining property with additional potential for silver and gold.  Please visit our website at www.farresources.com for full details on our current projects. 

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.  

### 

ON BEHALF OF THE BOARD OF DIRECTORS OF

FAR RESOURCES LTD.

Toby Mayo, President and CEO 

FOR FURTHER INFORMATION, PLEASE CONTACT

Renmark Financial Communications Inc.
Steve Hosein: shosein@renmarkfinancial.com
Tel: (416) 644-2020 or (514) 939-3989
www.renmarkfinancial.com 

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. 

This news release contains forward-looking statements, which relate to future events or future performance (including our planned exploration for the Winston Project and 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. 

Source: https://web.tmxmoney.com/article.php?newsid=8375313195475075&qm_symbol=FAT:CNX

Write a comment

Name:
Likes | 1
Dislikes | 0
COMPANY INFO
Name: Far Resources Ltd.
Canada Symbol: FAT
Germany Symbol / WKN: F0R / A2AH8W
Shares Issued & Outstanding: 99,794,883
Phone: +1 604 805 5035
Email: info@farresources.com
Web: www.farresources.com
SUBSCRIBE

Anmeldung zum Newsletter:

e-mail:
Vorname:
Nachname:
Newsletter deutsch:
Newsletter englisch:
Sie erhalten nach der Anmeldung eine E-Mail mit einem Bestätigungslink. Erst nach Erfolgreicher Bestätigung sind Sie für den Newsletter angemeldet.

DICTIONARY

english/german - german/english