Confirms 2940 g/t Silver aAnd 66.5 g/t Gold At New Mexico Project
FAR Resources Ltd (CSE:FAT) has received extremely high-grade gold and silver values from recent sampling on its wholly-owned Winston Project in New Mexico.
The results were confirmed from three historic mines, Ivanhoe, Emporio and Little Granite, in the south part of the company’s land holdings. Twenty ore characterisation samples from these three mines returned peak values of 66.5 g/t gold and 2940 g/t silver from Little Granite, 26.8 g/t gold and 1670 g/t silver from Ivanhoe and 46.1 g/t gold and 517 g/t silver from Emporio.
The historic mines are hosted by north-south orientated vein systems which display characteristics typical of low sulphidation epithermal style mineralisation. This style of mineralisation hosts some of the highest grade precious metal mines worldwide, including Sleeper (Nevada), Creede (Colorado), Fruta del Norte (Ecuador) and Hishikari (Japan).
The mineralisation in the Winston area is believed to be Tertiary in age and related to the Rio Grande Rift. The Black Range District was mined extensively in the 1880s but has seen little activity since.
The company has recently expanded its land position in the area, which now covers 149 claims totalling approx. 2980 acres. Further prospecting is currently underway focused on vein extensions to the north, and initial drill testing of selected targets is planned for summer, subject to permitting and Covid requirements.
Detailed sample results are listed below. The samples were obtained as part of the initial geological evaluation of the property, during which mine environs, workings and dumps were walked and inspected to collect representative samples of the different styles of mineralisation. High grade mineralisation was confirmed at the Little Granite, Ivanhoe and Emporio minesites.
Numerous samples were collected throughout the project area, and historic minesites were visited several times. Multiple, overlapping phases of alteration and mineralisation are evident throughout. The ore characteridation samples were collected in an attempt to better understand which phases are of greatest economic interest. The results confirm that earlier reports of high-grade silver and gold values from historic workings have legitimacy, and justify a major exploration program using modern methods to define the nature and size of mineralisation.
CEO and President, John Gammack, said current plans for follow-up work include additional geochemical sampling, geological mapping, and claim staking. The acquisition of detailed imagery and surface terrane models are being investigated as a precursor to project and target scale geophysical surveys.
“To say that I’m over the moon is an understatement! Additionally we will be providing further wide spread sampling results in future news releases in the weeks to come,” Mr Gammack said.
