Far West Mining Ltd.
TSX : FWM

Far West Mining Ltd.

November 15, 2006 16:31 ET

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

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Nov. 15, 2006) - Far West Mining Ltd. (TSX:FWM) is pleased to report the assay results for an additional 16 drill holes completed at Estrellita on the Company's Santo Domingo property in Chile. Fourteen of the drill holes intersected oxide and oxide/sulphide copper mineralization with thirteen of them encountering oxide 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) and hosts a number of small scale workings where high grade oxide copper mineralization has been mined for a number of years. The property was drilled by a major mining corporation in the 1990's. Their drilling yielded multiple intercepts (30m to 80m) at shallow depths grading from 0.50 to 1.03% Cu.

Drill holes 4a3-167D, 171, 173, 174D, 176 and 177 were drilled close to the Estrellita mine workings with cumulative mineralized intervals ranging from 52 to 72m with the wider intercepts encountered at shallow depths. The average grade of the mineralized intervals ranges from 0.53%-0.72% Cu. Mineralization consists of black oxidized copper minerals (chalcocite, tenorite, copper wad, pitch limonite) and green copper oxides (chrysocolla, brochantite) at shallow depths. Mineralization at deeper levels consists of a mixture of chalcocite and chalcopyrite.

Drill holes 172, 175, 178, 179, 180, 183 and 184 are located to the east of the Estrellita mine workings and intersected the same mineralized zone(s). The mineralized intervals in these holes, with the exception of 184, are for the most part relatively narrow (8-22m) but of grade similar to the above and are significant in that they lie close to surface. It is important to note that drill hole 184 which lies furthest to the east of the mine workings intersected 48m of 0.75% Cu commencing at 2m. The mineralization consists of copper bearing specularite mantos and underlying stockwork and breccia zones hosted by andesite tuffs and andesitic volcanic rocks. Drill holes 181D and 182, respectively drilled to the northeast and south of the Estrellita mine area are located in unrelated fault blocks and intersected unmineralized andesitic flows.

Drill hole 4a3-190 intersected 42m of 1.39% Cu from 94m including 34m of 1.64% Cu from 100m. This hole was drilled 150m west of hole 169 (0.83% Cu/74m) and 200m west of hole 162 (0.83% Cu/60m) which were reported in the previous news release. All three drill holes were drilled to the north of an interpreted east-west fault intercepting the Estrellita mineralized zone at a deeper level as a result of an apparent 50m down-drop. The mineralization to the north of the fault is hosted by a specularite manto. The continuation of the mineralization to the north of the Estrellita workings was previously unknown.

On November 1st the RC rig was moved to the ENAMI area to permit the construction of drill roads and pads in difficult terrain to facilitate further drilling to the north of the Estrellita mine workings.

As of this date, assay results for a further 24 drill holes at Estrellita remain to be reported.

Drill Results from the Estrellita property are tabled below. Drill holes 167D and 174D are diamond drill holes. Mine workings have not been included in the calculation of reported grades and thicknesses.



--------------------------------------------------------------------
Drill hole Angle From To Interval Grade
number (degrees) (metres) (metres) (metres) (% Cu)
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-167D -90 19 66 47 0.77
--------------------------------------------------------------------
including 22 45 23 1.14
--------------------------------------------------------------------
139 152 13 0.52
--------------------------------------------------------------------
average 60 0.72
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-171 -90 22 62 40 0.59
--------------------------------------------------------------------
192 208 16 0.37
--------------------------------------------------------------------
232 248 16 0.74
--------------------------------------------------------------------
average 72 0.57
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-172 -90 0 20 20 0.69
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-173 -90 0 70 70 0.53
--------------------------------------------------------------------
including 0 18 18 0.96
--------------------------------------------------------------------

--------------------------------------------------------------------
174D -90 0 17 17 0.99
--------------------------------------------------------------------
31 61 30 0.61
--------------------------------------------------------------------
80 95 15 0.41
--------------------------------------------------------------------
191 211 20 0.44
--------------------------------------------------------------------
average 82 0.63
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-175 -90 12 24 12 0.72
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-176 -90 22 26 4 mine workings
--------------------------------------------------------------------
26 94 68 0.67
--------------------------------------------------------------------
including 32 46 14 1.01
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-177 -90 24 34 10 0.49
--------------------------------------------------------------------
34 40 10 mine workings
--------------------------------------------------------------------
40 82 42 0.66
--------------------------------------------------------------------
average 52 0.63
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-178 -90 24 46 22 0.54
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-179 -90 2 38 36 0.60
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-180 32 42 10 0.75
--------------------------------------------------------------------
76 80 4 3.53
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-183 -90 30 38 8 0.55
--------------------------------------------------------------------
56 64 8 0.31
--------------------------------------------------------------------
90 100 10 0.38
--------------------------------------------------------------------
122 138 16 0.67
--------------------------------------------------------------------
average 42 0.51
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-184 -90 2 50 48 0.75
--------------------------------------------------------------------

--------------------------------------------------------------------
4a3-190 -90 94 136 42 1.39
--------------------------------------------------------------------
including 100 134 34 1.64
--------------------------------------------------------------------


The reported intercepts are very close to true width as the orientation of the mineralized zone at Estrellita appears to be more or less horizontal and all drill holes are vertical.

To view Falcon™ gravity image showing the location of Far West drill holes at the Estrellita property, please click on the following link: http://www.ccnmatthews.com/docs/FWM-1.jpg

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 using the 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.

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