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May 26, 2021, Vancouver, British Columbia (GLOBE NEWSWIRE)- Far Resources Co., Ltd. (CSE:fat) (FSE: FOR) (OTC:Financial report frame) (www.farresources.com) (“FAR Resources” or “Company”) is pleased to provide more detailed information about the geological environment of its Winston Gold and Silver Project in New Mexico. The Winston project is located in the Black Ridge area of southwestern New Mexico, covering 42 square miles north of the chloride zone.
The Winston Project is claimed to be composed of Little Granite, Ivanhoe and Emporia. It is located in the heart of the historic Black Mountains (Chloride-Grafton) mining area, 30 miles northwest of Truth and Truth in New Mexico, USA. The Chloride-Grafton area was a major gold and silver mining camp first discovered in 1880, and several tons of silver were produced before it was abandoned in 1893 due to the historical silver price plummet. Emporia, Ivanhoe, and Little Granite claim to be produced by shallow, near-surface veins.
Winston’s gold and silver mines have a world-famous mineralization style, and have some of the highest grade gold and silver mines, such as Hishikari in Japan and Midas in Nevada. Locally, mineralized veins are generally related to north-south faults. The overall controlled geological feature is called the Rio Grande Rift Valley and extends to northern Mexico, where there are several past and present silver mines.
The chloride area is located at the intersection of three prolific mineralization provinces:
- Lalamide Porphyry Copper Mine Province (Hillsboro Mine, 60 kilometers to the south).
- The Rio Grande Rift Valley and related north-south basins and mountain faults carry prolific carbonate replacement deposits (CRD) through the Chihuahua and Coahuila regions, such as Santa Eulalia and Santa Eulalia in the south. Kingston, extending north to the Creed region of southwestern Colorado.
- The Sierra Madre Occidental is the third largest volcanic province on the planet. It is located west of the CRD belt and has a prolific Mexican super-hot precious metal belt. Volcanic activity related to the subduction of the Farallon Plate extends from the southern Colorado Plateau to the Trans-Mexico Volcanic Belt in Jalisco, Mexico.
Crustal expansion related to the back-arc structure led to a local crustal-scale rift event, which transitioned to a moving belt in the south (the Rivagrande Rift passes through the Chihuahua-Coahuila moving belt). The structural control of overtemperature mineralization, such as that seen at the Winston mine, is largely related to the early extension of the Rio Grande Rift Corridor.
The local volcanic stratigraphy consists of early volcanic rocks (formed by the Rubio peak) of the Andes, covered with more feldspar, rhyolite produced by the crater. In the Winston project area, other young andesites from the Poverty River Formation are distributed above the rhyolite kneeling nun tuff in the Emory crater.
The age of the venous vessels in the chloride zone shows two independent stages of venous mineralization. An early metal base metal-rich group at the Bald Eagle Mine has returned to an age between 28,900 and 1.1 million years ago. The venous striatum from the Silver Monument, St. Cloud, Hosier, and Minnehaha all returned to an age of approximately 26.5 to 1 million years ago. The second stage of vein mineralization is the main goal of the Winston project area.
Far Resources will initially focus its drilling work on the Ivanhoe and Emporia mines, and will be consistent with the company’s green energy-saving standards, and will make every effort to minimize the impact on the environment. Low-impact methods such as LiDAR surveys will be used to guide its exploration, as well as geological mapping and modern portable, low-impact drilling equipment will be used because the focus will be on the southern part of the company’s land.
John Gammack, CEO and President of Far Resources, said “We cannot understate the significance and value of the Winston Gold/Silver Mine. If I can delve into history, the San Juan Volcano Field is mainly located on the southwest border of Colorado, but extends to parts of northwestern New Mexico, covering us The Winston mining area in Colorado, known as the Creede mining area, is one of the most productive intermediate sulfide states, with 4.1 million tons of ore produced since 1889. Our plan for upcoming drilling will be We are excited about the possibilities presented by the Winston Gold/Silver project, because since the 1980s, the price of gold and silver has been on a downward trend, and the project was abandoned.”
Dr. CPG Michael Feinstein reviewed the technical content of this press release and he is a qualified person as defined in NI 43-101.
On behalf of the board of directors,
John Gammack
President/CEO
About Yuan
The Winston gold and silver project, which FAR Resources owns 100%, explored the Ivanhoe, Emporia and Little Granite mines in the Black Hills of New Mexico, USA. Each mine is known for its long history of high-grade gold and silver-grade ore, including recent samples of 4610 g/ton silver and 66.5 g/ton gold. The Black Range area was extensively mined in the 1980s, but there has been little activity since then. The complete data sheet and information can be viewed on pages 14, 17, 19 and 20: https://farresources.com/images/investors/presentation/precious_metals_deck/precious_metals_deck_revised-26Mar2021.pdf . Far Resources’ ZORO lithium project in Canada is located in the mine-friendly Snow Lake area of Manitoba, which contains many known lithium deposits. The company also holds a 60% stake in the hidden lake lithium project in the northwest region.
Information contact
John Gammack
President and Chief Executive Officer
Far Resources Co., Ltd.
+1 (604) 374-5561
The Canadian Stock Exchange has neither approved nor rejected the content of this press release, and assumes no responsibility for the adequacy or accuracy of this press release.
Forward-looking statement
This press release may contain forward-looking statements related to future events or future performance (including planned exploration) and reflect management’s current expectations and assumptions. These forward-looking statements reflect management’s current beliefs and are based on assumptions made by the company and currently available information. Readers should note that these forward-looking statements are neither promises nor guarantees, and involve risks and uncertainties that may cause future results to differ materially from expectations. All forward-looking statements in this press release are subject to these warning statements and our continuous disclosure documents on SEDAR, which are available at the following URL: www.sedar.com. These forward-looking statements are effective from the date of publication of this article, and the company assumes no responsibility for updating or revising these statements to reflect new events or new circumstances, unless applicable securities laws provide for this. This press release does not constitute an offer to sell securities, and the company has not registered or confirmed its qualifications under the securities laws of that jurisdiction. The offer, solicitation or sale is illegal in jurisdictions where no solicitation has been made. An offer of securities.
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