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Location Map
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Far West, through its wholly-owned subsidiary Far West Mining Pty. Ltd., and its partner BHP Billiton are currently exploring for Broken Hill-type (BHT) deposits in the Georgetown area of Queensland, Australia. The project is located approximately 300km west of the port city,Townsville. The Georgetown Project comprises four tenements that cover approximately 1,600sq km. They were assembled by BHP Billiton to explore for Cannington-type deposits (45 Mt @ 11.9% Pb, 4.8% Zn, 520g/t Ag) and feature host rocks of the same age and with similar characteristics to those that host the Cannington mine.
During the 2006 and 2007 field seasons, Far West conducted ground geophysical surveys (magnetics and moving loop TEM) and confirmed geophysical targets obtained from an airborne electromagnetic/magnetic survey over the Georgetown properties in 2005. The ground surveys elevated four anomalies to drill target status while two anomalies are still subject to additional interpretation before being added to the target list. The Company began drilling at the Georgetown project in early August, 2007 to test the targets.
Outcrops
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In 2006, reconnaissance work carried out in the vicinity of geophysical signatures in the northern-most tenement resulted in the discovery of an outcrop bearing prospective host rocks that contained rare rock types and minerals (gahnite) characteristic of BHT style of mineralization. The area was then covered with a geochemical soil grid which returned anomalous silver, lead, and zinc values over an area of approximately 200m by 600m. As a result, early in the 2007 field season, the soil grid was extended and detailed mapping of the area was carried out. This resulted in the discovery of an additional outcrop of prospective host rocks several hundred metres from the original outcrop suggesting that the size of this system may be significant. Assay results for the soil grid extension are pending.
Far West can earn a 70% interest (subject to certain back-in rights by BHP Billiton) in the Georgetown Project by spending US $2,000,000 on exploration (including airborne and ground geophysical programs) by October 2008. It is anticipated that the Company will meet this earn-in requirement by the end of Q3-08.
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