Far West Mining Ltd.
TSX : FWM

Far West Mining Ltd.

December 14, 2006 16:05 ET

Far West Mining Ltd.: Drilling on Santo Domingo Property in Chile Continues to Expand Near-Surface Oxide Copper Zone at Estrellita

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 14, 2006) - Far West Mining Ltd. (TSX:FWM) is pleased to report the assay results for an additional nine drill holes at Estrellita and seven drill holes at ENAMI on the Company's Santo Domingo property in Chile. Eight of the nine drill holes at Estrellita intersected copper mineralization with seven encountering oxide and mixed oxide/sulfide copper intervals at shallow depths.

Estrellita Property

The Estrellita property is located approximately four kilometres northwest of the Company's Santo Domingo Sur deposit (NI 43-101 compliant Indicated Resource of 139.4 million tonnes grading 0.59% Cu, May 2006). The property hosts a number of workings where high grade oxide copper mineralization has been mined for a number of years. Drilling by a major mining corporation in the 1990's yielded multiple intercepts (30m to 80m) at shallow depths grading from 0.50 to 1.03% Cu.

Diamond drill holes 4a3-198D, 204D, and 209D were drilled close to the Estrellita mine workings and intercepted near surface mineralization grading between 0.61% Cu and 1.20% Cu over 45 to 52m intervals (estimated true width). Drill hole 198D extends the known mineralization 50m to the east and north of previously drilled holes 173 and 172. Drill holes 204D (twin of RC hole 160) and 209D (inclined 45 degrees to the south between RC holes 160 and 170) were designed to test for continuity of the mineralization between vertical RC holes and to determine structure and mineralogical characteristics.

Drill hole 203 was drilled to the south of the Estrellita mine workings and intercepted a mineralized zone close to surface (18m of 0.68% Cu from 6m) and a second zone at depth (10m of 2.06% Cu from 122m).

Drill holes 202 and 205 were drilled to the north of the Estrellita mine workings on the north side of an east west fault that appears to have down-dropped the mineralized zone. Hole 202 intercepted 40m of 0.90% Cu from 62 to 102m and confirmed the westward extension of high grade mineralization in previously reported hole 190 (42m of 1.39% Cu from 94m). Hole 205 intercepted mineralization at a deeper level (54m of 0.51% Cu from 116m), probably caused by a larger throw on the fault in that particular location.

Drill holes 199, 200 and 201 were drilled to the west of the Estrellita mine workings. Hole 201 intercepted low grade mineralization at surface and a second mineralized zone at depth (52m of 0.67% Cu from 132m). Drill hole 199 was drilled on the west side of an interpreted north south-fault and intercepted mineralization at surface (4m of 0.81% Cu from surface) and at a deeper level (20m of 0.58% Cu from 80m). Mineralization to the west side of the fault was previously unknown and additional drilling will be carried out to determine its full extent. Drill hole 200 intersected andesite breccia without significant manto development or copper mineralization. Andesite breccia stratigraphically underlies the andesite porphyries that host the mineralization in the Estrellita area. The andesite porphyries are not present at the top of hole 200 suggesting that this hole was drilled in an uplifted fault block with mineralization at higher stratigraphic levels probably removed by erosion.

As of this date, assay results are pending for a further 18 drill holes that have been completed at Estrellita.



Drill results from Estrellita are tabled below:

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Drill hole Angle From To Interval Grade
number (degrees) (metres) (metres) (metres) (% Cu)
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4a3-198D -90 32 77 45 0.61
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including 33 46 13 1.15
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163 172 9 1.01
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4a3-199 -90 0 4 4 0.81
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80 100 20 0.58
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including 80 88 8 0.97
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4a3-201 -90 0 16 16 0.35
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132 184 52 0.67
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including 154 166 12 1.57
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4a3-202 -90 62 102 40 1.08
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including 82 102 20 1.68
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4a3-203 -90 6 24 18 0.68
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122 132 10 2.06
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4a3-204D -90 14 61 47 0.91
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including 14 29 15 1.45
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and 57 61 4 2.02
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4a3-205 -90 116 160 54 0.51
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including 120 136 16 0.60
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4a3-209D -45 0 75 75 1.20
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including 0 15 15 2.25
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and 27 38 11 2.02
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and 67 75 8 2.17
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The intercepts reported for the vertical holes drilled are believed to be close to true width as the orientation of the mineralized zone at Estrellita appears to be more or less horizontal. Diamond drill hole 204D is angled at 45 degrees to the south and the true widths of the intercepts are approximately 70% of the widths in the table.

To view the map attached to this release please click on the following link; http://www.ccnmatthews.com/docs/fwm1214.pdf

ENAMI Property

During construction of drill roads and drill pads on the slopes to the north of the Estrellita mine workings, the RC drill rig was moved to the ENAMI property where it completed 13 exploration drill holes to the north and northwest of the Iris mine workings on a 100m grid to test for extensions of mineralization around previous drill holes. Drill holes 4a3-206, 207, 208, 213 and 214 were drilled to the north of the Estrellita mine workings and intercepted andesites, andesite porphyries and andesitic tuffs with manto development at various levels. Drill hole 215, positioned in the same area, did not intersect manto style mineralization. Drill holes 206 and 207 are located on the eastern flank of a gravity anomaly and intersected near surface oxide copper mineralization in the southern extension of the previously reported mineralized ENAMI zone to the north of Iris. Hole 206 intersected 16m of 0.54% Cu from 42m and hole 207 intersected 16m of 0.34% Cu from 24m. Additional drilling will be required to determine the extent of mineralization around those holes.

Hole 217 was drilled to the west of the Iris mine workings and intercepted 8m of 1.14% Cu from 192m hosted by magnetite manto in a package of andesite porphyry and andesitic tuff. The mineralization shows similar mineralogy and characteristics as the ore at Santo Domingo Sur. The RC drill rig was returned to the Estrellita area on November 19. 2006.

As of this date, assay results are pending for a further 6 drill holes that have been completed at ENAMI. A map with the location of all thirteen drill holes at ENAMI will be included when the results for the remaining holes are reported.

Assaying Procedures

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. Standard samples were prepared by CDN Resource Laboratories Ltd. of Delta, B.C.

Samples were subjected to aqua regia digestion and analysed for 27 elements by ICP-MS (induced coupled plasma mass spectrometry). 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.

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.

Far West Mining Ltd. is an international mineral exploration company engaged in the evaluation, acquisition, exploration and development of mining properties. The company has current operations in Chile (100% Far West) as well as in Argentina and Australia in collaboration with its strategic alliance exploration partner BHP Billiton.

FAR WEST MINING LTD.

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

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 news release uses the term "indicated resource". The Company advises investors that although this term is recognized and required by Canadian securities regulations (under National Instrument 43-101 "Standards of Disclosure for Mineral Projects"), the US Securities and Exchange Commission does not recognize this term. Investors are cautioned not to assume that any part of or all of the mineral deposits in these categories will ever be converted into reserves.

For further information investors should review the Company's filings that are available at www.sedar.com.

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

Contact Information

  • Far West Mining Ltd.
    Patricio Varas
    Vice President
    (604) 602-9144
    or
    Far West Mining Ltd.
    Lars Beggerow
    Chief Geologist
    (604) 602-9144
    Website: www.farwestmining.com