FAR Resources Ltd. Reports High Grade Lithium Assays From Its Beryl Pegmatite, Jean Lake Property, Snow Lake Area, Manitoba

VANCOUVER, British Columbia, Oct. 28, 2021 (GLOBE NEWSWIRE) -- (CSE:FAT) (FSE:F0R) (OTC:FRRSF) (www.farresources.com) (“FAR Resources” or the “Company”) is pleased to announce assay results from sampling undertaken on its recently located beryl pegmatite, Jean Lake property, located in the historic Snow Lake mining district in east-central Manitoba (cf news release September 28^th, 2021).

After a brief program of trench clearing and mucking of nearly 80 years of organic debris a total of 5 representative grab samples of spodumene were collected from two blasted and trenched locations along the trend of the beryl pegmatite. Two of the samples were from apple green, coarse grained spodumene (Far21-1 and -2; Figure 1) and three samples were from straw-coloured finer grained spodumene (Far21-3,4 and 5; Figure 2).

Samples were shipped to Activation Laboratories in Ancaster (Ontario) for analysis using the UT-7 method which uses a total dissolution of the sample by sodium peroxide fusion and ICP-MS finish. This analytical approach is the standard analytical technique used by the Company on its Zoro and Jean Lake lithium projects.

Results indicate all samples returned high-grade lithium contents regardless of the size or textural characteristics of the spodumene (Table 1). Ongoing exploration is planned for the remainder of 2021 and 2022 utilizing drone-assisted magnetic and Lidar surveys, prospecting, and surficial geochemical methods.

John Gammack, President and CEO of FAR stated, “We are concurrently advancing our recently acquired Jean Lake lithium-gold project to drill-ready status and integrated exploration approaches based on modern airborne and ground geophysical and geochemical technologies bolstered by sound field programs of boots on the ground prospecting and geological mapping. These new high-grade assay results provide us with a focus on the potential for new expanded lithium resources on our Snow Lake projects.”

Table 1. Lithium analyses for two styles of spodumene mineralization at the Beryl pegmatite, Jean Lake property, Snow Lake area, Manitoba.

Qualified Person

Technical information in this news release has been reviewed and approved by Lindsay Bottomer, P.Geo., FAR Resources Qualified Person as identified by Canadian National Instrument 43-101-Standards of Disclosure for Mineral Projects.

About FAR

FAR Resources' Winston Gold and Silver Project includes on-going exploration of their 100 percent owned property located in the Black Range of New Mexico USA. Recent results included exceptional numbers from property-wide confirmatory sampling completed in late 2020 with grades of up to 66.5 g/t gold and 4619 g/t silver. The property’s three mines, Ivanhoe, Emporia and Little Granite are known for their historic production of high-grade gold and silver ores, primarily developed prior to the 1930's with a brief revival in the 1980's but have seen little modern exploration.  Full data tables and info can be viewed here on pages 14, 17,19 and 20 : https://farresources.com/images/investors/presentation/precious_metals_deck/precious_metals_deck_revised-26Mar2021.pdf . 

FAR Resources also has its 100 percent owned ZORO Lithium Project, in CANADA, located in the mining-friendly Snow Lake region of Manitoba containing numerous known lithium deposits. The company has completed five drill programs on the property leading to the discovery of at least 12 lithium-bearing pegmatite dykes.  FAR Resources also holds a 60% stake in the Hidden Lake Lithium Project in the Northwest Territories hosting at least 10 lithium bearing spodumene pegmatite dykes with average lithium concentration of 1.03% Li20 and individual samples grading up to 3.3% Li20. 

To read more on both lithium properties and past exploration details, click here: https://www.farresources.com/images/investors/presentation/sustainable_energy/REVISED_SUSTAINABLE_ENERGY_PRESENTATION.pdf

For further information, please contact:

John Gammack
President and CEO
Far Resources Ltd
+1 (604) 374-5561

Robert Dinning
CFO, Director
Far Resources Ltd
+1 (604) 970-0901

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.

Forward Looking Statements
This news release may contain forward-looking statements, which relate to future events or future performance, including planned exploration, 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 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.