FAR RESOURCES LTD Provides an Overview on the Chloride District Located at the Intersection of 3 Prolific Metallogenic Provinces at its Winston Gold and Silver Project in New Mexico.
FAR RESOURCES LTD Provides an Overview on the Chloride District Located at
the Intersection of 3 Prolific Metallogenic Provinces at its Winston Gold and
Silver Project in New Mexico.
Vancouver, British Columbia, May 26, 2021 - FAR Resources Ltd (CSE:FAT)
(FSE:FOR) (OTC:FRRSF) (www.farresources.com) (“FAR Resources” or the
“Company”) is pleased to provide more details on the geological setting of its Winston
Gold and Silver project in New Mexico. The Winston Project covers 42 square miles of
the northern portion of the Chloride District, situated in the Black Range of southwestern
New Mexico.
The Winston Project is comprised of the Little Granite, Ivanhoe, and Emporia claims
situated in the heart of the historically prolific Black Range (Chloride-Grafton) Mining
District, 30 miles North-West from Truth of Consequences, New Mexico, US. The
Chloride-Grafton district was a major gold-silver mining camp first discovered in 1880
and produced tons of silver before abandonment in 1893 due to a historic crash in silver
prices. The Emporia, Ivanhoe and Little Granite claims produced from shallow near
surface veins.
The Winston gold and silver exploration property exhibits a style of mineralization
known world-wide and hosts some of the highest grade gold-silver mines, such as
Hishikari in Japan and Midas in Nevada. Locally, the mineralized veins are generally
associated with north-south trending faulting. The overall controlling geological feature
is known as the Rio Grande Rift, and extends into northern Mexico where it hosts to
several past and present silver mines.
The Chloride District is located at the intersection of 3 prolific metallogenic provinces:
• The Laramide Porphyry Copper Province (Hillsboro Mine 60km south).
• The Rio Grande Rift and related N-S basin and range faulting carries through
Chihuahua and Coahuilla hosting prolific Carbonate Replacement Deposits
(CRD) such as Santa Eulalia and Kingston, NM to the south and extending
northward to the Creede District in Southwestern Colorado.
• The Sierra Madre Occidental, the largest Tertiary Volcanic Province on the
planet, is located immediately west of the CRD belt and hosts the prolific
Mexican Epithermal Precious Metal Belt. Volcanism related to the subducting
Farallon plate extends from the southern Colorado Plateau all the way South to
the Trans-Mexican Volcanic Belt in Jalisco State, Mexico.
Crustal extension related to back-arc tectonics led to a crustal-scale rifting event locally
which transitions to a mobile belt in the south (Rio Grande Rift through Chihuahua-
Coahuilla Mobile Belt). Structural controls of the epithermal mineralization such as that
seen on the Winston properties are largely related to the early extension along the Rio
Grande Rift corridor.
The local volcanic stratigraphy consists of an early sequence of andesitic volcanics
(Rubio Peak Formation) overlain by more felsic, caldera-sourced rhyolites. In the
Winston project area, additional younger andesites of the Poverty Creek Formation
overlie the rhyolitic Kneeling Nun Tuffs of the Emory Caldera.
Vein adularia age dates from the Chloride District show two separate stages of vein
mineralization. An early base metal-silver rich group at the Bald Eagle Mine returned
age of 28.9 to 1.1 Million years ago. Vein adularia from the Silver Monument, St. Cloud,
Hoosier and Minnehaha all returned ages of approximately 26.5 to 1.0 Million years
ago. The second stage of vein mineralization is the primary target in the Winston
Project Area.
Far Resources will initially be focusing its drill efforts on Ivanhoe and Emporia mines
and in keeping up with the company's high standards of green energy conservation, all
efforts will be made to minimize the impact to the environment as much as possible.
Low impact methods such as LiDAR surveying will be used to guide its prospecting, as
well geological mapping and modern lightweight, low impact drill equipment will be used
as the focus will be on the southern part of the company's landholdings.
John Gammack, CEO and President of Far Resources states "We can't understate the
significance and value of The Winston Gold/Silver Property. If I can expand into the
history, The San Juan volcanic field lies mostly within the southwestern border of
Colorado but extends into portions of northwestern New Mexico and covers our Winston
property. In Colorado this is well known as The Creede Mining District, representing
one of the most prolific intermediate sulfidation-state, yielding 4.1 million tonnes of ore
since 1889. We are excited at the possibilities of the upcoming drill program will bring
for our Winston Gold/Silver Project as it's been untouched since the 80's after gold and
silver saw a downward turn and the project was abandoned.”
The technical content of this news release has been reviewed by Dr. Michael Feinstein,
CPG, who is a Qualified Person as defined under NI 43-101.
On behalf of the board of directors,
John Gammack
President/CEO
About Far
FAR Resources 100 percent owned Winston Gold and Silver Project explores Ivanhoe,
Emporia and Little Granite Mines in the Black Range of New Mexico USA. Each mine is
known for its historic production of its high-grade gold and silver grade ores, and
includes recent samples of 4610 g/t silver and 66.5 g/t gold. The Black Range district
was mined extensively in the 1980s, but has seen little activity since. 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 ZORO Lithium
Project, in CANADA, located in the mining -friendly Snow Lake region of Manitoba and
containing numerous known lithium deposits. The Company also holds a 60% stake in
the Hidden Lake Lithium Project in the Northwest Territories.
Information Contact
John Gammack,
President and CEO
Far Resources Ltd.
+1 (604) 374-5561
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
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.