Far West Mining Ltd.
TSX : FWM

Far West Mining Ltd.

November 05, 2009 14:43 ET

Far West Mining Confirms Higher Iron Grades at Santo Domingo

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 5, 2009) - Far West Mining Ltd. (TSX:FWM) is pleased to report that the re-analysis of 7,400 RC drill chip samples from the Santo Domingo Project indicates that iron grades are on average 10.8% higher than previously reported.

In early 2009, during metallurgical testing at SGA in Germany, iron assay results were consistently higher than expected. A re-analysis program was initiated to confirm whether this was an isolated incident or if there was indeed a consistent low bias caused by the method of iron analysis used for the exploration samples. In August 2009, Far West Mining Ltd. ("the Company") submitted 7,400 samples from the Santo Domingo project for re-analysis by a more rigorous analysis method (ICP81). All available samples with iron content of more than 15% were submitted for re-analysis.

This re-analysis of all relevant samples in the Company exploration database now explains the discrepancy between the exploration database analyses and the metallurgical data. The chart below compares the results from both methods by plotting all pairs of assays (ICP61 vs ICP81).

To view the chart, please click on the following link: http://media3.marketwire.com/docs/fwm115.pdf

Image shows iron assays using ICP61 versus iron assays using ICP81. The vast majority of ICP81 results are higher than their ICP61 equivalent and plot above the reference line. The abrupt break of the data on the right hand side at 50% reflects the upper detection limit of the ICP61 method.

The results of the new analytical work (ICP81) confirm that the method for exploration assays (ICP61) causes iron assays that are lower than actual. It was determined that the discrepancy can be attributed to incomplete sample digestion and an upper detection limit of 50% iron for the exploration analysis method. More than 400 samples assayed above 50% iron.

The new iron data has been added to the Company's database and is currently being used to re-calculate the iron grade of the Santo Domingo and Iris Norte deposits. A revised economic assessment will then be undertaken for the Santo Domingo project which will be available in the first quarter 2010. The Company is excited about the prospects of this process and is looking forward to results of the study.

The in-house qualified person is Richard N. Zimmer, P. Eng., President & CEO, and a director of the Company who has reviewed and approved the contents of this news release.

Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties in Chile and Australia. For further information, investors should review the Company's filings that are available at www.farwestmining.com and www.sedar.com or contact Rick Zimmer, President and CEO or Iain MacPhail, CFO at (604) 602-9144.

FAR WEST MINING LTD.

Richard N. Zimmer, P.Eng., President and CEO

This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address future production, reserve potential, exploration drilling, exploitation activities and events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans" "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Information inferred from the interpretation of drilling results and information concerning mineral resource estimates may also be deemed to be forward looking statements, as it constitutes a prediction of what might be found to be present when and if a project is actually developed. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, and continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. The Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.

The TSX does not accept responsibility for the adequacy or accuracy of this news release.

Contact Information

  • Far West Mining Ltd.
    Rick Zimmer
    President and CEO
    (604) 602-9144
    or
    Far West Mining Ltd.
    Iain MacPhail
    CFO
    (604) 602-9144
    www.farwestmining.com