Four holes drilled on the massive Agua Rica porphyry deposit in northwestern Argentina seem to have confirmed the presence of copper-rich areas.
Northern Orion Explorations (NNO-T) reports that the drilling also confirmed high molybdenum values in the Trampeadero area.
The deposit, situated in Catamarca province, is being explored jointly by Northern Orion and BHP Minerals International, which have 30% and 70% interests, respectively.
Results include: hole 81, which returned 123 metres grading 1.22% copper, 0.043% moly, plus 0.09 gram gold and 3.6 grams silver per tonne; hole 82, which cut 660 metres of 0.56% copper, 0.039% moly, 0.26 gram gold and 7.5 grams silver; hole 83, which returned 492 metres at 0.67% copper, 0.068% moly, 0.19 gram gold and 2.8 grams silver; and hole 84, which intersected 392.5 metres at 0.82% copper, 0.098% moly, 0.21 gram gold and 8.7 grams silver.
A new access road to the property is under construction, and the partners have embarked on a US$45-million work program, including 50,000 metres of drilling. A final feasibility study is expected by the end of 1997.
Northern Orion estimates the resource potential of the deposit at 1.2 billion tonnes grading 0.5% copper and 0.22 gram gold, plus moly credits.
Northern Orion is 54%-owned by Miramar Mining (MAE-T).
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