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Attention Business Editors:
NORTHERN ORION EXPLORATIONS LTD. DRILL RESULTS FROM CAMPANA MAHUIDA
PORPHYRY COPPER - GOLD DEPOSIT
VANCOUVER, Sept. 30 /CNW/ - Northern Orion Explorations Ltd. and Brooks
Resources Ltd. are pleased to report results from the first five holes of a
1,500 meter drill program currently underway at the Campana Mahuida porphyry
copper-gold deposit in Argentina. These holes are designed to confirm
previous drill results. A geologic resource, based on the 105 holes completed
prior to the current drill program, was calculated at 112.5 million tonnes
grading 0.41% copper and 0.1 g/t gold containing 1 billion pounds of copper
and 330,000 ounces of gold. Significant results from the new drill program
include:
Hole Intercept (feet) Copper (%) Gold (g/t)
---- ---------------- ---------- ----------
CM-49 112 1.13% 0.11
CM-51 384 0.36% 0.12
CM-52 115 0.50% 0.08
CM-53 125 1.02% 0.08
These drill holes confirm the presence of a significant oxide and
secondary enriched layers of copper-gold mineralization overlying a primary
copper-gold deposit with surface dimensions in excess of 1,800 feet by 1,000
feet. Additional results will be released on completion of the drill program
during the fourth quarter.
Campana Mahuida is a 20,250 hectare property located in Neuquen Province
in central Argentina, 115 kilometers northwest of Zapala at an elevation of
1,450 meters. The property has excellent access and is less than 5 kilometers
from a paved highway and a major power line.
Northern Orion has granted an option to Brooks Resources of Vancouver to
earn a 50% interest in its Campana Mahuida and Mogote Rio Blanco properties by
spending $8.5 million on exploration and by issuing shares and warrants of
Brooks Resources to Northern Orion. The option agreement provides Brooks with
an option to increase to a 60% interest in both properties under certain
circumstances.
Northern Orion (NNO-TSE) is a mining company exploring and developing
gold and copper deposits in Latin America. Northern Orion is 54% owned by
Miramar Mining Corporation (MAE - TSE, MAENF - Nasdaq). Northern Orion has
interests in more than 30 projects in Argentina, including a 30% interest in
the Agua Rica and a 100% interest in the San Jorge copper-gold porphyries in
Argentina.
The Toronto & Vancouver Stock Exchanges have neither approved nor
disapproved of the information contained herein.
For further information: Peter A. Maynes, Investor Relations, Tel (604) 980-0573, Toll free 1-800-811-4447, Web Site
miramarmining.com
15:25e 30-SEP-96
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