by Greg Klein | November 17, 2016
With Phase I now complete, Far Resources CSE:FAT says all seven holes of the 1,142-metre campaign intersected spodumene-bearing pegmatite on the Zoro property in central Manitoba. Assays are pending but the program confirms a 3D model of dyke #1 compiled from historic drilling data and more recent field work, the company reported November 17.
“We are pleased that the first drill program on the property for 60 years has confirmed our geological model and interpretation,” said president/CEO Keith Anderson. “This will allow us to plan and optimize further drilling with confidence as we expand on the Phase I program.”
The 3,000-hectare property hosts seven known spodumene-bearing dykes. In July the company released assays from chip samples collected that summer from three historic trenches, with results ranging from 1.46% to 6.35% Li2O.
The Snow Lake-region property can be accessed via highway and helicopter, or by boat, road and ATV. Local infrastructure also includes hydro lines five kilometres south and rail another 25 kilometres.
Far Resources also holds an option on the Winston property in New Mexico, which hosts two past-producing gold-silver mines. In October the company offered a private placement of up to $200,000.