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Location Map
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The Farallón Negro Project Area is located in the Province of Catamarca in northwest Argentina (see location map). Far West Mining and its strategic alliance exploration partner BHP Billiton (BHPB) are exploring for hidden porphyry copper gold deposits in the Argentinean Andes. The belt is ranked among the top five prospective magmatic arcs in the world for porphyry copper gold exploration. The district is host to Xstrata's Bajo de la Alumbrera mine (752 Mt @ 0.51% Cu & 0.67 g/t Au) and the Agua Rica (802 Mt @ 0.61% Cu & 0.23 g/t Au) deposit.
As conventional exploration for giant porphyry copper deposits in the project area is hindered by extensive post-mineral cover, Far West and BHPB employed the advanced airborne FALCON™ gravity gradiometer system in order to reduce exploration risk and expense in covered areas. The survey covered 7,270sq km at an 800m line spacing and supplied gravity and magnetic data facilitating the identification of potential host rocks and intrusions under cover for ground follow-up geophysics and drilling.
Detailed Location Map
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In August 2005, a team comprising FALCON™, BHPB and Far West technical staff met in Vancouver to evaluate and select anomalous signatures indicated by the FALCON™ survey for target prioritization. Following the interpretation of the airborne data, the technical team selected 20 Target Areas covering 2,000sq km thus reducing the area to be explored by 70%.
The selected targets will be explored by ground geophysics (IP) with a grid spacing designed to detect large systems. Each anomaly outlined on the reconnaissance grid will be resurveyed on a tighter spaced grid to define drill targets.
Far West can earn a 70% interest (subject to certain back-in rights by BHPB) in the Farallon Negro Project by spending US $2,000,000 on exploration including airborne geophysical programs by october 2008.
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