Business
Norsemont Mining Announces Major New Discovery at Constancia Project in Peru
Share Issued and Outstanding: 53,829,578 TSX: NOM BVL: NOM
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nShare Issued and Outstanding: 53,829,578\nTSX: NOM\nBVL: NOM\n\n\nTORONTO and LIMA, Peru, Oct. 10 /CNW/ - Norsemont Mining Inc. ("the\nCompany") (TSX: NOM, BVL: NOM) today announced that the Company has made a\nmajor new discovery at the Company's 100-percent controlled Constancia\ncopper-molybdenum-silver project in south-eastern Peru. The Pampacancha\nanomaly has been discovered approximately 2.7 kilometres south-east of the\nConstancia - San Jose deposit and lies within an area over which the Company\ncontrols 100 percent of the mineral rights.\n\n\nThe Company has completed a ground geophysical survey (magnetics and IP)\nover the Pampacancha project and has conducted stream and rock-chip sampling\nover a 27 square kilometre area. Results from the ground geophysical survey\nindicate the presence of a number of strongly magnetic bodies with coincident\nchargeability anomalies.\n\n\nThe Pampacancha prospect area is comprised of outcrops of limestone\nintruded by dioritic and lesser monzonite intrusives where both magnetite and\ngarnet skarns are developed near their contacts. Outcropping copper oxides in\nskarn bodies highlight the potential for significant copper mineralisation.\n\n\nIn addition, the Company has conducted stream sediment sampling over a\ncatchment area of approximately 27 square kilometres. Of the 32 samples taken\nin a catchment area over 90 percent of the samples were recovered from active\nstreams and the results indicated the presence of anomalous copper, molybdenum\nand gold, with gold grades as high as 7.43 grams per tonne. A total of 42\npercent of these samples reported gold values greater than 1.0 grams per tonne\nAu in an area of 2 kilometres by 4 kilometres.\n\n\nBased on these encouraging results, the Company has taken approximately\n350 rock-chip samples over the Pampacancha project. Assay results from these\nrock-chips indicate anomalously high grades of gold, silver and copper, with\nindividual samples reporting up to 39 gram per tonne gold, 1,200 grams per\ntonne silver and 6 percent copper.\n\n\nCommenting, Norsemont's CEO Patrick Evans said: "We are very encouraged\nby the Pamacancha discovery, which supports our previous guidance that we\nexpect to be able to grow our global resource at the Constancia project\nsignificantly. Based on our current resource, the Constanci...