Far West major focus is in Ecuador and also the Great Bear Fe-oxide hosted Cu-Au (IOCG) project located in the NWT that they are exploring with BHP Billiton. They also have interests in a Pb-Zn project in NE Saskatchewan as well as some uranium projects in the Cluff Lake region. They were involved in the Lobos Claims in late 1999, but not much happening there lately.

Far West Mining Ltd.      [FWM:TSX-V]

Lobos 4, 9, 10 and 14-19, Zacatecas and SLP. Optioned to earn into a 50% interest on 9 separate concessions form Aztec Silver Corporation (a 75% owned subsidiary of Canarc Resource Corp.). This land package covers 485,949 Ha in central Mexico. Far West reached an agreement with Chapleau Resources Ltd. (VSE:CHI) to make a $US 1M private placement to fund the first two phases of exploration.

Press Release 18Feb99

March 16, 2000: Reverse circulation drilling will commence on its Lobo 14b property on March 18, 2000. Lobo 14b, located in the State of San Luis Potosi, adjoins the property of Santa Maria De La Paz which hosts the largest privately owned mining operation in Mexico. Geochemical surveys conducted on Lobo 14b to date have indicated the presence of several base and precious metal anomalies associated with buried intrusives and/or major structures. Three of the targets, designated San Vicente, Carmen and San Antonio, have been advanced to the drill stage and will be tested during the next two months.

PROJECT SUMMARY

In February 1999 Far West entered into an option agreement with Aztec Silver Corporation to earn a 50% interest in nine properties covering 485,949 hectares in the States of Zacatecas and San Luis Potosi in north central Mexico. Aztec Silver is a private company, which is 75% owned by Canarc Resource Corp. (TSE-CCM) of Vancouver, B.C. Under the terms of the option agreement, Far West is to spend US$ 5.5 million on exploration over a three year period, issue a total of one million shares of Far West to Aztec Silver and make a US$ 500,000 cash payment to become fully vested.

EXPLORATION POTENTIAL

Intense prospecting of exposed outcrop has been responsible, both directly and indirectly over the past 400 years, for the discovery of the numerous mineral deposits in the Zacatecas and San Luis Potosi States of Mexico. The region hosts world class mineral deposits, including, Fresnillo and Zacatecas, which have produced some 1.2 billion oz. of silver (500,000 + oz. in reserves); the San Martin/Sabinas and Concepcion del Oro polymetallic skarn deposits (in excess of 70 MM tonnes each); the Real de Angeles disseminated silver/lead/zinc deposit (85 MM tonnes) and Charcas (Mexico's largest zinc producer). The recent implementation of modern exploration techniques in the pediment filled valleys has led to the discovery of buried (blind) deposits such as the +35MM tonne Francisco I. Madero (manto) and the 99MM tonne San Nicolas (VMS) polymetallic deposits.

1999 EXPLORATION PROGRAM

Detailed airborne geophysical surveys were flown to locate buried felsic intrusives and their associated sulphide mineral deposits. A total of 14,500-line km of magnetometer/scintillometer surveying was carried out over portions of eight of the nine properties. A 400-line km airborne Mag/EM surveying was conducted over the remaining property. It should be noted that only 20% of the land covered by the properties was covered by airborne geophysics. Initial analysis of the airborne data has led to the selection of 54 (first-pass) targets for follow-up geochemical testing in areas believed to be hosting buried Tertiary intrusives. The proximity to existing mines or mineral deposits, structural setting, the host geology and depth of cover were all factors considered in the target selection. Geochemical surveys conducted over the 54 targets selected returned 27 silver-base metal anomalies, 8 of which were followed up with gradient and pole-dipole geophysical surveys. An attempt was made to drill test three of the geochem targets on the Lobo 10 property in late November and early December, however, due to block faulting the lithology favourable for hosting replacement deposits could not be reached.

2000 EXPLORATION PROGRAM

The Joint Venture Management Committee has approved a US$ 1.2MM exploration budget, for the period February 1, to July 31, 2000. The program is to include 4800 line kilometers of airborne geophysical magnetometer and scintillometer surveying (portions of two properties), CSAMT and geochemical surveys (covering targets on six properties) and up to 10,000m of reverse circulation drilling. Most, if not all, of the drilling will be conducted on the San Vicente, Carmen and San Antonio targets on Lobo 14b.

Press Release 16Mar00

First Phase Drill Program on Lobo 10 Property Completed / Drilling to Recommence on the Zacatecas Silver - Base Metal Project in January 2000


Far West Mining Ltd. (ASE-FWM) is pleased to announce that it has entered into an agreement with a private investor to make a CDN $2,000,000 placement in Far West to fund the company's ongoing Zacatecas silver and base metal exploration project in north central Mexico. This financing, combined with cash reserves on hand specifically devoted to the project, will provide CDN $3,500,000 in funding and permit the company to accelerate the delineation and drilling of targets. The company's first drill program is scheduled to commence on or about November 15. 

Financing Under the terms of the private placement, the investor is to purchase 2,000,000 Units of Far West at a price of CDN $1.00 per Unit. Each Unit is comprised of 1 Common Share and 1 Warrant, with each Warrant exercisable into 1 Common Share at CDN $1.50 within one year from the date of closing. A finder's fee of 6.625% of the gross proceeds of the private placement will be paid to an arm's length third party. The proposed private placement and finder's fee are subject to regulatory approval.

Drilling Permits to drill several targets on the Lobo 10 property have been received, while receipt of permits to drill targets on the Lobo 14 and Lobo 16 properties is pending. The initial drilling will test two of several geochemical /geophysical targets defined on the Lobo 10 property which is situated in the vicinity of the San Martin/Sabinas mine complex (a combined 70 MM tonne base metal skarn deposit). A reverse circulation drill contract is being let for a minimum 2,000m to be completed before mid December. Drilling will recommence in the new year in mid January and will be conducted thereafter on a continuing basis on several properties to test targets which are being further defined with ongoing geochemical and ground geophysical surveys.

Project Summary
In February of this 1999 Far West entered into an option agreement with Aztec Silver Corporation to earn a 50% interest in nine properties covering 485,949 hectares in the States of Zacatecas and San Luis Potosi in north central Mexico. Aztec Silver is a private company, which is 75% owned by Canarc Resource Corp. (TSE-CCM) of Vancouver, B.C.

Under the terms of the option agreement, Far West is to spend US$ 5.5 million on exploration over a three year period, issue a total of one million shares of Far West to Aztec Silver and make a US$ 500,000 cash payment to become fully vested.

Exploration Potential
Intense prospecting of exposed outcrop has been responsible, both directly and indirectly over the past 400 years, for the discovery of the numerous mineral deposits in the States of Zacatecas and San Luis Potosi States of Mexico. The region hosts world class mineral deposits, including Fresnillo and Zacatecas (high grade silver veins produced 1.2 billion oz. / +500 oz. in reserves), San Martin/Sabinas and Concepcion del Oro (polymetallic skarn deposits / in excess of 70 MM tonnes each), Real de Angeles (disseminated silver/lead/zinc deposit / 85 MM tonnes and Charcas (Mexico's largest zinc producer).

A significant number of the mineral occurrences discovered in the region are replacement style skarns, manto, and chimney deposits, as well as, vein systems all associated with Tertiary aged felsic intrusions.

The implementation of modern exploration techniques in the pediment filled valleys has led to the discovery of buried (blind) deposits such as the +35MM tonne Francisco I. Madero (manto) and the 85MM tonne San Nicolas (VMS) polymetallic deposits. Modern geophysical and geochemical
techniques can identify such deposits as well as buried tertiary intrusions associated with many of the more common deposits found in the region.

Exploration Program
Detailed airborne geophysical surveys have been utilized to identify signatures similar in character to those indicated by the felsic intrusions associated with deposits near the optioned properties. A total of 14,500-line km of magnetometer/scintillometer surveying was carried out over portions of eight of the nine properties. A 400-line km airborne Mag/EM surveying was conducted over the remaining property. It should be noted that only 20% of the land covered by the properties have been flown. Initial analysis of the airborne data has led to the selection of 54 (first-pass) targets for follow-up geochemical testing in areas believed to be hosting buried Tertiary intrusives. Proximity to existing mines or mineral deposits, structural setting, the host geology and depth of cover were all factors considered in the target selection. Geochemical testing of the first 54 targets has returned 27 silver-base metal anomalies, only 8 of which have been followed up with gradient and pole-dipole geophysical surveys. It is anticipated that most of these anomalies will be tested by drilling, and that further targets will be generated with the ongoing exploration. 

Press Release 16Dec99