Far Resources’ Zoro Lithium Project

Spodumene intersection, Dyke 1, Zoro Property, Snow Lake area.

Spodumene-bearing pegmatite dykes, Zoro Property, Snow Lake area. Zoro Location.

The principal Manitoba asset of Far Resources Ltd. (CSE:FAT) is the Zoro Lithium project located approximately 20 kilometres from the town of Snow Lake. The property consists of 16 claims totaling 3,603 hectares.

Following on from an extensive diamond drilling program in the winter of 2018-19, the main focus in late 2019 and 2020 was a program of mineralogical characterization and preliminary beneficiation test on material from Dyke 1 on the Zoro Property. This dyke is one of 13 lithium-bearing pegmatite dykes identified on the property to date. A portion of Dyke 1 hosts an NI 43-101 compliant inferred resource of 1.1 Mt grading 0.91 per cent Li2O.

The testwork was carried out on a blended bulk sample from Dyke 1 at SGS Canada’s Lakefield laboratories. The work confirmed that the dominant lithium-bearing mineral present is spodumene Typical mineral assemblages at the Zoro pegmatites, Snow Lake, Manitoba.

(LiAlSi2O6) and that it is possible to produce a high-grade lithium concentrate (close to six per cent Li2O) from a coarse fraction (-6.4 millimetres) after the rejection of iron silicate minerals by magnetic separation.

These results confirm the quality of the resources defined to date and provide encouragement for further work to enlarge the resource base on the project lands and potentially elsewhere in the region. A key to the further advancement of the project is its location proximal to the town of Snow Lake with excellent established infrastructure and mining history.

On September 4, 2020, Far Resources announced a flow-through financing of $1 million to be used to further explore the company’s Manitoba projects. 6