News from NNO
Tuesday December 9, 3:19 pm Eastern Time
Company Press Release
SOURCE: Northern Orion Explorations Ltd.
Northern Orion Explorations Ltd. - High Grade Filo Amarillo Zone Continues To Expand
VANCOUVER, Dec. 9 /CNW-PRN/ - Northern Orion Explorations Ltd.
NNO - TSE, VSE
Northern Orion is pleased to report that drilling continues to expand the newly discovered high grade Filo Amarillo zone at the Agua Rica project in Argentina. The 1997 drilling program has demonstrated potential to find additional areas of high grade mineralization. This expansion of high grade areas is expected to have a significant positive impact on the project economics. The Filo Amarillo zone lies entirely outside the previously announced resources estimated for Agua Rica and contains not only high copper grades, but also high gold (0.61 g/t in AR-157) and high
molybdenum (0.082% in AR-148) values which will be important by-products at Agua Rica.
In addition, in-fill drilling in the high grade Mi Vida and Trampeadero areas continues to return significant intercepts. Highlights from drill holes AR-146 to AR-157 are summarized below and complete results are attached.
Hole Area Hole Intercept Copper Copper Gold Silver Molybden
Type (Feet) Equiv. (%) (g/t) (g/t) -um (%)
(x)%
------------------------------------------------------------------------
AR-147 Filo Step 125 1.19 0.82 0.13 4.0 0.066
Amarillo out
AR-148 Filo Step 256 0.83 0.44 0.09 3.1 0.082
Amarillo out
AR-155 Filo Step 131 1.00 0.67 0.17 2.2 0.055
Amarillo out
AR-157 Filo Step 184 2.04 1.63 0.38 4.3 0.044
Amarillo out
and 159 1.04 0.50 0.61 10.9 0.031
AR-149 Mi Vida In-fill 236 1.26 0.87 0.59 2.4 0.010
AR-151 Mi Vida In-fill 85 1.03 0.78 0.28 1.8 0.020
AR-153 Trampeadero In-fill 52 1.37 0.94 0.15 4.8 0.077
AR-156 Trampeadero In-fill 341 1.43 0.95 0.20 3.7 0.085
(x) Copper equivalent grades are based on in situ values at the following metal prices: copper at $1/lb, gold at $385/oz, silver at $5/oz, and molybdenum at $4/lb. Actual payable values received will depend on the recoveries
which may vary for different metals and the prevailing metal prices. At recent prices of $0.85 copper, $300 gold, $5 silver and $4 molybdenum, CuEq grades are marginaly higher.
The recently announced Initial Feasibility Study (''IFS'') was based on the results from holes AR-1 to AR-103 completed to the end of 1996. Results from 1997 drilling are expected to significantly increase resources, especially as a result of the discovery of the new high grade Filo Amarillo zone. The Initial Feasibility Study recommends
proceeding with the work required to complete a final feasibility study and development plan for the project.
The Agua Rica deposit is a large porphyry copper-gold-silver-molybdenum deposit located in Catamarca province, northwest Argentina, and is a joint venture between Northern Orion (30%) and BHP Copper (70%). The joint
venture is currently undertaking a work program designed to bring the project to completion of a final feasibility study.
Northern Orion Explorations Ltd. (NNO-TSE, VSE) is a mining company targeting the development of gold and copper deposits in Latin America and is 54% owned by Miramar Mining Corporation (MAE-TSE, VSE;
MAENF-Nasdaq).
Agua Rica
Assay Summaries, Holes AR-146 to AR-157
(all holes top to bottom)
Hole From To m Feet CuEq(x)% Cu% Au g/t Ag g/t Mo %
------------------------------------------------------------------------
AR-146 4 172 168 551 0.26 0.01 0.21 1.57 0.029
90, FA 172 407 235 769 0.44 0.26 0.12 2.48 0.024
AR-147 3 92 89 292 0.65 0.02 0.44 8.75 0.081
70E 92 130 38 125 1.19 0.82 0.13 3.96 0.066
FA 130 158 28 92 0.84 0.44 0.12 8.84 0.065
158 172 14 46 0.56 0.31 0.10 5.56 0.039
172 191 19 62 0.35 0.11 0.07 2.03 0.046
AR-148 21 88 67 219 0.40 0.01 0.12 2.94 0.074
75ENE 88 166 78 256 0.83 0.44 0.09 3.08 0.082
FA 166 212 46 151 0.57 0.15 0.08 11.21 0.071
212 352 140 460 0.63 0.34 0.09 2.76 0.056
AR-149 7 92 85 279 0.20 0.01 0.12 1.25 0.027
70S 92 212 120 394 0.75 0.49 0.29 1.92 0.020
MV 212 284 72 236 1.26 0.87 0.59 2.38 0.010
284 572 288 945 0.88 0.53 0.32 2.63 0.039
AR-150 2 62 60 198 0.17 0.02 0.18 3.10 0.006
60W 62 170 108 354 0.49 0.37 0.15 2.19 0.004
MV 170 318 148 485 0.27 0.19 0.11 1.49 0.003
AR-151 4 36 32 105 0.34 0.03 0.43 3.83 0.008
70N 36 46 10 33 0.59 0.36 0.27 1.70 0.015
MV 46 80 34 112 0.41 0.03 0.52 3.49 0.016
80 104 24 79 0.92 0.62 0.38 2.10 0.018
104 130 26 85 1.03 0.78 0.28 1.75 0.020
130 249 119 389 0.88 0.56 0.36 2.13 0.026
AR-152 0 80 80 262 0.20 0.01 0.10 1.73 0.029
90 80 204 124 407 0.73 0.49 0.13 4.37 0.033
FA 204 330 126 413 0.38 0.24 0.08 2.24 0.021
AR-153 18 64 46 152 0.05 0.01 0.04 1.36 0.002
60W 64 154 90 295 0.26 0.17 0.05 1.94 0.013
TR 154 280 126 413 0.46 0.22 0.06 1.99 0.048
280 296 16 52 1.43 0.97 0.15 6.76 0.080
296 380 84 276 0.81 0.38 0.09 2.41 0.091
AR-154 11 24 13 44 0.19 0.02 0.06 1.24 0.032
60E 24 214 190 623 0.52 0.19 0.08 1.48 0.069
TR 214 270 56 184 0.69 0.38 0.15 5.05 0.049
270 368 98 321 0.29 0.08 0.06 2.84 0.041
AR-155 3 104 101 331 0.54 0.03 0.27 5.67 0.081
60N 104 144 40 131 1.00 0.67 0.17 2.18 0.055
FA 144 208 64 210 0.71 0.50 0.19 1.85 0.022
208 246 38 125 0.33 0.25 0.10 1.70 0.003
246 306 60 197 0.74 0.61 0.16 4.20 0.002
306 349 43 142 0.32 0.22 0.11 4.06 0.002
AR-156 6 114 108 355 0.32 0.04 0.10 1.64 0.054
90 114 180 66 216 0.95 0.48 0.16 1.60 0.094
TR 180 284 104 341 1.43 0.95 0.20 3.67 0.085
284 300 16 52 0.99 0.46 0.20 3.96 0.098
AR-157 3 152 149 489 0.36 0.02 0.28 2.33 0.041
60N 152 208 56 184 2.05 1.63 0.38 4.31 0.044
FA 208 256 48 159 1.05 0.50 0.61 10.88 0.031
(x) Copper equivalent grades are based on in situ values at the following metal prices: copper at $1/lb, gold at $385/oz, silver at $5/oz, and molybdenum at $4/lb. Actual payable values received will depend on the recoveries
which may vary for different metals and the prevailing metal prices. At recent prices of $0.85 copper, $300 gold, $5 silver and $4 molybdenum, CuEq grades are marginally higher.
MV equals Mi Vida, TR equals Trampeadero, FA equals Filo Amarillo
No Stock Exchange has approved or disapproved the information contained herein.
BUSINESS/PHOTO EDITORS: A copy of the Northern Orion map of the Agua Rica Drill Hole Locations is available by fax by calling Canada Newswire, Vancouver at (604) 669-7764. |
