Drilling Has Commenced On The BHP Billiton/Far West Mining Ltd. Iron Oxide Hosted Copper-Gold, IOCG, Project In The Candelaria District Of Northern Chile.Business Editors VANCOUVER, British Columbia--(BUSINESS WIRE)--June 27, 2003 Far West Mining Ltd. (TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension Venture: FWM FWM Four-Wave Mixing FWM Fabric Workshop and Museum (Philadelphia, Pennsylvania) FWM Free Wheelchair Mission FWM Fine With Me FWM Fachverband Werbung Und Marktkommunikation ) is pleased to announce that drilling has commenced on the BHP Billiton / Far West Mining Ltd. Iron Oxide The material used to coat the surfaces of magnetic tapes and lower-capacity disks. Hosted Copper-Gold (IOCG IOCG Iron Oxide Copper Gold IOCG International Organization for Crystal Growth ) Project in the Candelaria District of Northern Chile. A 5,000 metre, reverse circulation (RC) drill program is to be carried out over the next two months to test three Target Areas in the Manto Verde district. The Target Areas to be drilled contain multiple FALCON(TM) anomalies (Targets) of which at least five will be tested during the initial program. Three of the gravity targets to be drilled have copper and iron mineralization Mineralization The process by which the body uses minerals to build bone structure. Mentioned in: Rickets mineralization, n the bioprecipitation of an inorganic substance. occurrences in outcrop and in old mine workings. Two of the targets are predominantly covered by young quaternary quaternary /qua·ter·nary/ (kwah´ter-nar?e) 1. fourth in order. 2. containing four elements or groups. qua·ter·nar·y adj. 1. Consisting of four; in fours. fill. As previously reported, Far West Mining Ltd. has entered into agreements with BHP Billiton to explore for IOCG deposits in eight prospective areas covering 468,650 ha along 250 kilometers of the Candelaria Belt. The areas were flown utilizing BHP Billiton's proprietary FALCON(TM) gravity /gradiometric system. Field crews have examined all of the significant gravity anomalies outlined by the survey and a total of 27 Target Areas have been selected for follow up exploration. Under the Agreement with BHP Billiton, Far West can earn a 70% participating interest in a Target Area by carrying out up to 2,000m of drill testing. BHP Chile does have the right, however, (via back-in or earn-in) to acquire, in stages, up to a 70% participating interest in any mineral deposit discovered within a Target Area by solely funding ongoing exploration, making various cash payments to Far West and carrying Far West through to completion of a final feasibility study. Far West and BHP Billiton are sharing the FALCON(TM) survey costs. The in-house qualified persons responsible for the Candelaria Project are Robert E. Hindson, P. Eng., Chief Executive Officer, President and a director of Far West, and Patricio Varas, P. Geo.,Vice-President and a director of Far West, both of whom have reviewed and approved the contents of this press release. FAR WEST MINING LTD. "Robert E. Hindson" Robert E. Hindson, P.Eng. President and C.E.O. The Canadian Venture Exchange The Canadian Venture Exchange (CDNX) is now a defunct stock exchange having been acquired by the TSX Group in 2001 and renamed the TSX Venture Exchange. History of the Canadian Venture Exchange (CDNX) has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release. |
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