Far West Mining Ltd.
TSX VENTURE : FWM

Far West Mining Ltd.

July 21, 2005 14:32 ET

Drilling in the 4a3 Target Area of Far West Mining Ltd.'s Candelaria Project Intersects Significant IOCG Mineralization

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 21, 2005) - Far West Mining Ltd. (TSX VENTURE:FWM) is pleased to announce that drilling carried out in the 4a3 Target area during the later stages of the third drilling campaign intersected a number of mantos of variable thickness and grade hosting Iron Oxide Hosted Copper-Gold (IOCG) mineralization.

Candelaria Project / Chile

4a3 Target - Santo Domingo Area

During the third drilling campaign, which was completed on May 31, 2005 a total of 21 reverse circulation holes (5,982m) were drilled to test the potential of the Target to host the manto or chimney style (feeder zone) Iron Oxide Copper/Gold (IOCG) deposits. The holes were drilled in close proximity to interpreted and mapped intersections of major faults with coincident FALCON™ magnetic and gravity/gravimetric signatures.

The results for the first eight holes drilled in the campaign were reported in Far West's June 1, 2005 news release, with two well mineralized intersections being obtained in one of the holes. Drill hole 4a3-022, located 2.5 km southeast of the main Santo Domingo fault, intersected stacked manto style mineralization grading 0.81% Cu over 56m (14 to 70m), with the best interval running 1.33% Cu over 18m from 26 to 44m. A 22m interval at depth (186 - 208m) graded 0.72% Cu.

Of the 21 holes drilled during the campaign, 13 were placed along the main Santo Domingo fault and the remainder (4a3-022, 023 and 4a3-037 through 042) were placed some 2.5km to the south in an area now referred to as Santo Domingo Sur. Holes 4a3-037 through 042 were not planned but were added at the end of the program to test for extensions of the mineralization intersected in drill hole 4a3-022 noted above.

4a3 Target - Santo Domingo Sur

Drill holes 4a3-023 and 4a3-040 which respectively lie 220m to the northwest and 50m to the southwest of drill hole 4a3-022 appear to be separated from the mineralization encountered in the vicinity of drill hole 4a3-022 by a well defined NNW structure. The latter holes intersected a different stratigraphic horizon from those to the east of the structure and are not well mineralized.

All of the holes in the Santo Domingo Sur area drilled to the east of the of the NNW structure intersected mantos of variable thickness and grade hosting Iron Oxide Copper-Gold (IOCG) mineralization. The mineralized intervals and assay results are tabled below:



Mineralized Drill Intersections / 4a3 Target
Santo Domingo Sur Area

--------------------------------------------------------------
drill hole angle from to interval grade
number (degrees) (metres) (metres) (metres) %Cu
--------------------------------------------------------------

--------------------------------------------------------------
4a3-22 -60 14 70 56 0.81
--------------------------------------------------------------
186 208 22 0.72
--------------------------------------------------------------

--------------------------------------------------------------
4a3-37 -72 60 216 156 0.65
--------------------------------------------------------------

--------------------------------------------------------------
4a3-38 -90 54 172 118 0.63
--------------------------------------------------------------
218 244 26 0.70
--------------------------------------------------------------

--------------------------------------------------------------
4a3-39 -90 50 70 20 0.74
--------------------------------------------------------------
126 240 114 0.83
--------------------------------------------------------------

--------------------------------------------------------------
4a3-41 -90 32 78 46 1.01
--------------------------------------------------------------
102 194 92 0.89
--------------------------------------------------------------
238 262 24 1.08
--------------------------------------------------------------

--------------------------------------------------------------
4a3-42 -90 108 230 122 0.82
--------------------------------------------------------------

Drill holes 4a3-37 and 4a3-38 are drilled from the same set-up.
Mantos with an average grade of less than 0.60% Cu and those that
are less than 20m thick are not reported.


A map showing the location of the Santo Domingo Sur area and a drill plan will be posted on the company website. The positioning of the holes 4a3-037 - 042, which were drilled subsequent to the completion of the planned program, was dependant on access since no cat was available to prepare drill roads and pads.

Sampling and Assaying Procedures

Reverse circulation drill cuttings were blown into a cyclone and collected at 2m intervals to the bottom of each hole regardless of lithology changes. The material from the cyclone was dumped directly into a riffle splitter with a bar separation of approximately 1cm. Both parts of the initial split were reintroduced to the splitter and divided a second time to ensure adequate mixing of the entire sample. Two subsequent re-splits resulted in the preparation of two 2-3kg representative samples reduced to one-eighth the volume of the original sample.

One sample was stored as a reference reject, and one sample was shipped to the ALS-Chemex laboratory at La Serena, Chile for analyses. Samples were subjected to aqua regia digestion and analysed for 27 elements using an induced coupled plasma (ICP) method.

Atomic absorption was used to determine copper values exceeding 10,000 ppm. Gold was analyzed by fire assay with atomic absorption finish using a 30g pulverized sample. A QAQC (quality assurance, quality control) program conducted by Far West consisted of the introduction of standard duplicate and blank samples, into the sample sequence at regular intervals.

The in-house qualified persons responsible for the Projects are Robert E. Hindson, P. Eng., Chief Executive Officer, President and a director of Far West, and J. Patricio Varas, P. Geo. Vice-President and a director of Far West, both of whom have reviewed and approved the contents of this news release.

Trading Halt

Further to the trading halt announced by Far West in its news release of Friday, July 8, 2005, the announcement made today by Far West is a result of management's view that the release to the public of the drilling results contained in the announcement will no longer materially prejudice Far West's ongoing negotiations with a third party regarding an important business acquisition by Far West. Although the negotiations remain in progress, Far West is now confident that concluding an agreement with the third party will no longer be materially jeopardized by the release of the information contained in the announcement today.

Far West is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties with current projects in Chile, Argentina and Australia in collaboration with its exploration strategic alliance partner BHP Billiton.

FAR WEST MINING LTD.

Robert E. Hindson, P.Eng., President and C.E.O.


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

Contact Information

  • Far West Mining Ltd.
    Robert Hindson
    President & C.E.O.
    (604) 602-9144
    or
    Far West Mining Ltd.
    Patricio Varas
    Vice President
    (604) 602-9144