Drilling adds more heft to Agua Rica

In Argentina, the already massive polymetallic deposit known as Agua Rica has been expanded further, as a result of exploration driling.

Northern Orion Explorations (NNO-T) made the announcement following receipt of assay results from 10 holes which were drilled in an ongoing 50,000-metre program.

Holes 55, 57, 59 and 63 were drilled south and southeast of previous holes in the Trampeadero area and have expanded mineralization there. The new holes show a thinning of copper mineralization in those directions, but with significant grades close to surface. Results include the following: * Hole 55 intercepted 51.3 metres grading 0.43% copper and 0.016% moly, plus 0.19 gram gold and 2.6 grams silver per tonne.

* Hole 57 cut 17.7 metres of 0.8% copper, 0.001% moly, 0.04 gram gold and 2.4 grams silver.

* Hole 58 intercepted 216.6 metres of 0.59% copper, 0.069% moly, 0.25 gram gold and 1.7 grams silver.

* Hole 59 returned 53.1 metres of 0.48% copper, 0.005% moly, 0.17 gram gold and 1.8 grams silver.

* Hole 60 returned 77.7 metres of 0.54% copper, 0.01% moly, 0.11 gram gold and 4.6 grams silver. Hole 61, an infill hole drilled between the Mi Vida and Trampeadero areas, cut 102.3 metres grading 0.33% copper, 0.185% moly, 0.36 gram gold and 35.5 grams silver.

* Hole 62 returned the largest intercept: 546.6 metres grading 0.63% copper, 0.01% moly, 0.21 gram gold and 2.6 grams silver. That hole also included 29.4 metres grading 1.24% copper, 0.003% moly, 0.5 gram gold

and 2.4 grams silver, as well as 132 metres of 0.83% copper, 0.004% moly, 0.29 gram gold and 2.8 grams silver.

* Hole 63 returned 29.4 metres of 0.7% copper, 0.035% moly, 0.04 gram gold and 3.1 grams silver. Hole 64 reported 39.9 metres grading 0.21% copper, 0.412% moly, 0.24 gram gold and 17.9 grams silver.

Northern Orion has a 30% stake in the project, with BHP Minerals International holding 70%.

The partners are conducting a US$45-million work program and intend to complete a final feasibility study by the end of 1997.

The deposit is estimated to contain 1.2 billion tonnes grading 0.5% copper and 0.22 gram gold, plus moly credits.

Holes 56, 60 and 64 continue to expand mineralization of the Trampeadero to the north and confirm the presence of significant copper mineralization, usually with high molybdenum values.

In the Mi Vida area, infill holes 58 and 62 have confirmed previous results.

Infill hole 61 intersected particularly high silver and moly values over significant lengths, Northern Orion says.

Results continue to expand the resource, especially in the Trampeadero area, while the infill holes are confirming the continuity of mineralization. All holes show byproducts of gold, silver and moly that contribute to the value of the mineralization. Holes 59, 60, 62 and 64 ended in mineralization, indicating the potential for resource increases at depth.

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