Universidades‎ > ‎

Pregunta

Asunto:
Re: Northern Orion Reports Additional Mineral Reserves Extending The Mine Life At Alumbrera
De:
Horacio Luis Varela
Fecha:
Wed, 02 Aug 2006 19:00:24 -0300
A: Luis Rivera
CC: XXXXXXXXXXXX

Luis Rivera, Technical Services Manager
Minera Alumbrera Ltd, C/- Minera Alumbrera
San Martin 631 - 6to Piso
SM DE TUCUMAN 4000
ARGENTINA

Estimado Sr. Luis Rivera,

Felicitaciones por el incremento en la producción esperada de Minera Alumbrera Ltd. calculada según los estándares Australianos del Australian Institute of Mining and Metallurgy.

Adjunto le remito la legislación australiana vigente en el estado de Queensland
: MINERAL RESOURCES REGULATION 2003, Reprinted as in force on 2 January 2006, Reprint No. 2G, para saber si esta reglamentación tendría algún efecto en el monto pagado en concepto de regalías (royalties) a la Provincia de Catamarca si esta regulación australiana se aplicase en lugar de la legislación argentina que se aplica efectivamente al presente.

Atentamente,

Horacio Luis Varela

Refs:
www.legislation.qld.gov.au/
LEGISLTN/CURRENT/M/MineralReR03.pdf

Northern Orion Resources Inc. wrote:
=======================================================================
Re:   News Release - Wednesday, August 02, 2006
      Northern Orion Reports Additional Mineral Reserves Extending The
      Mine Life At Alumbrera
=======================================================================

Northern Orion Resources Inc. is pleased to announce an upgrade in the
Mineral Reserves at Alumbrera extending the mine life by one year until
at least mid-2016.

An on-going ore delineation drilling programme in the Alumbrera pit,
undertaken both within the existing ore envelope and for extensions at
depth, has confirmed 40 million tonnes of additional mineral reserves.
The mine plan was re-optimized based on a new geological model with
additional mineralization, and together with improved final pit slope
angles resulted in an increase in contained metal reserves of more than
10%. This equates approximately to an additional 260 million pounds of
contained copper (Northern Orion's share - 33 million pounds) and
400,000 ounces of gold (Northern Orion's share - 50,000 ounces) over
the life of the mine. The additional ore was identified predominantly
in the southern end of the pit, both inside and outside previous pit
shell limits.

Also, progressive expansions of the Alumbrera concentrator over the
previous four years will be completed by the end of 2006 and will have
increased the throughput capacity of the Alumbrera concentrator by 54%
to 40 million tonnes per annum.  

As a consequence of the announced increase, current Mineral Reserves
and Resources are (on a 100% basis, of which Northern Orion owns
12.5%):


Mineral Reserves(*)                 Mineral Resources(*)
-------------------------   ---------------------------
Proved    380 Mt @0.45%Cu    Measured   400 Mt @0.45%Cu
            & 0.49 gpt Au                 & 0.48 gpt Au
-------------------------   ---------------------------
Probable   24 Mt @0.42%Cu   Indicated    24 Mt @0.42%Cu
            & 0.43 gpt Au                 & 0.43 gpt Au
-------------------------   ---------------------------
Total     400 Mt @0.45%Cu       Total   420 Mt @0.45%Cu
            & 0.49 gpt Au                 & 0.48 gpt Au
-------------------------   ---------------------------


* The information in this press release which relates to Mineral
Resources and Reserves is based on information verified by Alumbrera's
internal lab facilities and compiled by Mr. Luis Rivera who is a member
of the Australasian Institute of Mining and Metallurgy and who is a
Qualified Person as defined by National Instrument 43-101. Mr. Rivera
is a full-time employee of Minera Alumbrera Limited.  Ore Reserves have
been calculated in accordance with the recommendations of the
Australian Institute of Mining and Metallurgy - Joint Ore Reserve
Committee (the "JORC" code),where the Measured and Indicated Mineral
Resources are inclusive of those Mineral Resources modified to produce
the Mineral Reserves.

Presentation And Conference Call For 2nd Quarter 2006 Results

Northern Orion will release its second quarter results and an update on
progress at Agua Rica before the market opens on Wednesday, August 9,
2006 and will host a telephone conference call and presentation by
webcast on Thursday, August 10, 2006 at 10:00 a.m. Pacific Time (1:00
p.m. Eastern) to discuss the study and the results.  The conference
call may be accessed by dialing 1-800-319-4610 in Canada and the United
States, or 1-604-638-5340 internationally.  The webcast may be accessed
on Northern Orion's home page at www.northernorion.com. 


"David Cohen"
David Cohen, President and CEO

For further information, please contact: Investor Relations,
1-866-608-9970
Email: info@northernorion.com
                                       

Except for the statements of historical fact contained herein, certain
information presented constitutes "forward-looking statements" within
the meaning of the United States Private Securities Litigation Reform
Act of 1995.  Such forward-looking statements, including but not
limited to, those with respect to the price of molybdenum, gold, silver
and copper, the timing and amount of estimated future production, the
potential and/or projected cash flow generated from production, costs
of production, reserve determination and reserve conversion rates, and
the potential for further equity dilution involve known and unknown
risks, uncertainties and other factors which may cause the actual
results, performance or achievement of Northern Orion to be materially
different from any future results, performance or achievements
expressed or implied by such forward-looking statements.  Such factors
include, among others, risks related to international operations, risks
related to joint venture operations, the actual results of current
exploration activities, actual results of current reclamation
activities, conclusions of economic evaluations, uncertainty in the
estimation of ore reserves and mineral resources, changes in project
parameters as plans continue to be refined, future prices of gold,
silver and copper, economic and political instability in Argentina,
environmental risks and hazards, increased infrastructure and/or
operating costs, labor and employment matters, and government
regulation as well as those factors discussed in the section entitled
"Risk Factors" in Northern Orion's Renewal Annual Information form
attached to Northern Orion's latest Form 40-F on file with the United
States Securities and Exchange Commission in Washington, D.C.  Although
Northern Orion has attempted to identify important factors that could
cause actual results to differ materially, there may be other factors
that cause results not to be as anticipated, estimated or intended. 
There can be no assurance that such statements will prove to be
accurate as actual results and future events could differ materially
from those anticipated in such statements.  Northern Orion disclaims
any intention or obligation to update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise.  Accordingly, readers should not place undue reliance on
forward-looking statements.

=======================================================================
Copyright (c) 2006 NORTHERN ORION RESOURCES INC. (NNO)  All rights
reserved.  For more information visit our website at
http://www.northernorion.com/ or send mailto:info@northernorion.com
Message sent on Wed Aug 2, 2006 at 10:29:27 AM Pacific Time
=======================================================================
  
Comments