EXPLORATION & DEVELOPMENT

Far hits high grade at Zoro

Intercepts 16m at 1.8% Li2O

Staff reporter
 Intercepts 16m at 1.8% Li2O

Intercepts 16m at 1.8% Li2O

It hit 16m at 1.8% Li2O at Dyke 1, and 12m at 1.1% in the newly-discovered Dyke 8.

The results will be included in an upcoming NI 43-101 compliant resource.

Interim CEO Toby Mayo said Far was "very excited" by the results, which showed consistent, high-grade mineralisation at depth at Dyke 1 and indicated the potential for adding to the future resource base.

"Furthermore, the recently completed aeromagnetics survey, combined with a planned expansion to the highly successful MMI programme, give us great confidence in adding more high-grade lithium at Zoro," he said.

The company is planning further drilling and is assessing metallurgical testing options for Zoro.

It will also start drilling next month in the Northwest Territories at Hidden Lake, where Far is acquiring up to a 90% interest.

The Hidden Lake deal was instigated by Far's co-founder and former CEO Keith Anderson, who passed away in March

Far said last month it had about C$2 million (US$1.55 million) in cash at the end of December and had since exercised options to add to the treasury.

It said it had the resources to carry out its 2018 exploration programmes at Zoro and Hidden Lake and implement an initial programme at its Winston gold-silver project in New Mexico, US.

Far shares had traded above C$1 in January but are down about 60% year-to-date and were unchanged yesterday at 32.5c, capitalising it at $32.9 million.

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