VANCOUVER, Oct. 12 /CNW/ - Norsemont Mining Inc. ("Norsemont" or "the
Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is very
pleased to announce that the Company continues to intersect significant copper
mineralization in all 12 diamond drill holes at its Constancia Project in
southern Peru.
The assay results from the two core drilling rigs currently working the
project continue to confirm, and locally exceed, the results of the widely
spaced drilling previously completed by Mitsui and Rio Tinto. Rio Tinto
previously reported a historical unclassified resource in the Constancia
porphyry copper system of 189 million tons of 0.68%t copper (0.5% copper
cut-off) and 0.021% molybdenum, based on drilling in both the Constancia and
San Jose zones. This resource estimate is historical in nature, has not been
verified by our Qualified Person and therefore should not be relied upon.
Highlights include:
- Hole CO-05-11: 196m of 0.88% Copper including 48m of 1.70% Copper
- Hole CO-05-10: 166m of 0.59% Copper including 114m of 0.69% Copper
- Hole CO-05-12: 47.25m of 0.87% Copper and 190m of 0.53% Copper
"The Company is very excited about these positive results which continue
to exceed our expectations at Constancia" said Marc E. Levy, President and CEO
of Norsemont Mining Inc., "Our current drilling confirms the historical Rio
Tinto drilling and continues to exceed historical results in several areas. We
continue to drill in the main Constancia zone with the goal to produce a new
43-101 compliant resource. Furthermore we look forward to the commencement of
drilling in the highly prospective San Jose zone as well as at the newly
acquired Amata project."
The 2005 exploration program to-date has concentrated on infill drilling
at the Constancia zone, with the objective of completing a revised 43-101
compliant resource estimate of copper mineralization. Additional drilling this
fall will target in the San Jose zone located west of the Constancia zone,
where multiple shallow drill intercepts averaging over 1% Cu were completed by
previous operators. A new trench excavated in early October located 500 meters
north of the old San Jose pit encountered strong hematite oxidation with minor
copper oxides, in a strongly altered porphyry. This suggests excellent
potential for a significant new occurrence of chalcocite mineralization at
depth in the San Jose North area below the leach cap.
The following table is a summary of the 2005 drilling program showing the
significant intercepts with assays received to date from ALS Chemex in Lima.
The drill hole locations are plotted a map which is available on the Company's
web site. This map shows the near surface projection of greater than 0.5%
copper, as determined from previous drilling, surface sampling, and the
Norsemont's 2005 drilling:
<<
TABLE 1 BEST COPPER INTERSECTIONS AT CONSTANCIA PROJECT
Drill AZIMUTH ANGLE From To (m) INT. Cu Mo Ag
----- ------- ----- ---- ------ ---- -- -- --
Holes (m) (m) (%) (%) (g/t)
----- --- --- --- --- -----
CO-05-01 -90 80 134 54 0.79 0.002
CO-05-02 -90 99.45 116 16.55 2.07 0.010
CO-05-02 126 178 52 0.68 0.007
CO-05-03 -90 110.01 117.65 7.55 0.81 0.002
CO-05-03 158.65 186 27.35 0.63 0.003
CO-05-04 -90 62 78 16 0.47 0.006
114.2 212 97.8 0.61 0.008
Including 116 184 68 0.73 0.009
CO-05-05 -90 0 12 12 0.55 0.001
50 160 110 0.87 0.011
Including 56 128 72 1.10 0.012
CO-05-06 -90 56 68 12 0.67 0.029
CO-05-06 -90 144 202 58 1.44 0.008
CO-05-07 -90 64 94 30 0.73 0.004
110 140 30 1.08 0.033
148 172 24 0.46 0.006
CO-05-08 -90 64 114 50 0.57 0.003 7.3
CO-05-09 -90 76 142 66 0.43 0.002 2.0
CO-05-10 180 -80 42 208 166 0.59 0.011 3.9
Including 42 156 114 0.69 0.014 4.0
CO-05-11 225 -80 58 254 196 0.88 0.019 6.8
Including 72 120 48 1.70 0.020 5.5
CO-05-12 20 -80 0 47.25 47.25 0.87 0.001 6.4
CO-05-12 128 318 190 0.53 0.015 5.2
The drilling program and geological studies at the Constancia project are
being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont's Qualified
Person as defined by NI 43-101. Core samples are cut with a diamond saw, with
one-half of the core placed in sealed bags, and shipped to ASL Chemex Assay
Labs in Lima, Peru. The program includes an extensive quality control program
for assaying which includes the systematic use of standards, blanks, and field
duplicate samples. Secondary laboratories are also used for check assaying.
Art C. Freeze, P. Geo., Director of Norsemont and Qualified Person as
defined by NI 43-101 has reviewed and approved information contained in this
news release.
A plan map and cross-section with drill hole locations will be available
shortly on the Norsemont website at www.norsemont.com
Norsemont Mining is a well-structured and financed exploration company
working in the America's, with a focus on Peru. The Company is currently
drilling the Constancia Cu-Au-Mo project, and commencing exploration at the
Amata Ag-Au property.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or the accuracy of this release. We seek
Safe Harbor.
>>
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