Dec. 22 - NNO.TSE - PILOT HOLES FOR BULK SAMPLING ADITS
RETURNED MUCH BETTER THAN ANTICIPATED GRADES AT AGUA RICA From: Canada NewsWire
VANCOUVER, Dec. 22 /CNW/ - Northern Orion Explorations Ltd.
NNO - TSE, VSE
Northern Orion is pleased to report that it has received assays for the
metallurgical sample pilot holes AR-158 to AR-159 from the Agua Rica project
in Argentina. AR-158 and AR-159 are horizontal core holes drilled as pilot
holes for the adits that will provide bulk samples for pilot scale
metallurgical testing. Their position was selected to provide samples for
pilot grinding, flotation and metal recovery testing and is within the ore to
be mined in the initial years of operation. The grades encountered by the
pilot holes are significantly higher than anticipated from the vertical and
other holes drilled in these areas. Mining contractors for the driving of the
adits will be visiting the property next week in preparation for planned
collaring of the adits in early March 1998, after the rainy season.
Complete results from the pilot holes are summarized below. <<
Hole Area Hole Intercept Copper Copper Gold Silver Molybdenum
Type Feet Eq.% % g/t g/t %
------------------------------------------------------------------------
AR-158 Mi Vida Pilot 177 0.34 0.03 0.37 1.3 0.023
and 643 2.07 1.70 0.50 2.1 0.018
AR-159 Trampeadero Pilot 112 0.79 0.50 0.16 2.8 0.047
and 243 1.39 1.07 0.16 3.5 0.053
and 52 0.43 0.05 0.12 1.9 0.076
and 164 1.02 0.55 0.07 1.1 0.105
and 216 2.50 1.65 0.13 15.5 0.164
and 33 0.78 0.46 0.06 4.0 0.065 >>
(x) Copper equivalent grades are based on in situ values at the following
metal prices: copper @ $1/lb, gold @ $385/oz, silver @ $5/oz, and
molybdenum @ $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.
The recently completed Initial Feasibility Study was based on the results
from holes AR-1 to AR-103 and none of the 1997 drilling and other results are
incorporated in the study. The Initial Feasibility Study recommended
proceeding with the work required to complete a final feasibility study and
development plan for the project. The bulk sampling and subsequent
metallurgical programs are a major component of this program.
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%). BHP has been
considering bringing a strategic partner into its share of the Agua Rica
project but, in the meantime, work is continuing to advance the project
towards completion of the 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
No Stock Exchange has approved or disapproved the information contained
herein.For further information: Zarko T. Nikic, V.P. Exploration,
(604) 980-0573 or fax (604) 980-0731 |
