Far West Picks Up Properties Inside Its Santo Domingo Project

Far West Mining Inc. has picked up the Iris properties, which is located within its Santo Domingo project. The process has been completed with a final payment of $2.5 million to the vendor, Empresa Nacional de Mineria (ENAMI.) The combined project, including the Iris, has an estimated 240M tonnes of resource at 0.54% copper, 24.3% iron and 0.07 g/t of gold. Far West was responsible for delineating this resource, which is not specified as being NI 43-101 compliant. Further details, and a sketch-out of a planned geophysical program, can be found in the news release.

This news didn't keep Far West stock from dropping, although it may have softened the drop. After jumping up 8 cents to 98 cents just before noon ET, Far West plummeted down to 82 cents a little before 1 PM ET. It partially recovered to 85 cents, after the news was released, but was still down 5 cents as of 2:30 PM ET.

Far West Mining Ltd.'s Google Finance page is here.

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