Northern Orion drills Agua Rica

Drill results are expanding to the potential of the massive Agua Rica porphyry copper-gold-silver-molybdenum deposit in Argentina.

Situated in the northwestern province of Catamarca, the project is a 30-70 joint venture between Northern Orion Explorations (NNO-T) and BHP Minerals International (70%).

The resource potential is estimated at 1.2 billion tonnes grading 0.22 gram gold per ton and 0.5% copper, plus assorted silver and molybdenum credits.

Results from the recent 9-hole program are as follows:

Hole 71 returned 64.6 metres grading 0.21 gram gold, 9.9 grams silver, 0.6% copper and 0.047% moly; hole 72 returned 9.9 metres grading 0.12 gram gold, 2.5 grams silver, 0.39% copper and 0.061% moly; hole 73 intercepted 139.8 metres at 0.16 gram gold, 6.4 grams silver, 0.45% copper and 0.114% moly; hole 74 returned 35.4 metres at 0.25 gram gold, 3.2 grams silver, 1.09% copper and 0.034% moly; hole 75 hit 82.5 metres at 0.19 gram gold, 3.5 grams silver, 0.46% copper and 0.029% moly; hole 76 returned 53.1 metres grading 0.03 gram gold, 2.4 grams silver, 0.32% copper and 0.075% moly; hole 77 hit 35.4 metres at 0.18 gram gold, 4.1 grams silver, 0.39% copper and 0.002% moly; hole 78 intercepted 72.9 metres grading 0.55 gram gold, 2.4 grams silver, 1.11% copper and 0.035% moly; and hole 79 hit 159.3 metres at 0.34 gram gold, 9.2 grams silver, 0.62% copper and 0.019% moly.

The joint venture is spending US$45 million in a work program, with a final feasibility study due by the end of 1997.

Northern Orion is 54% owned by Miramar Mining (MAE-T).