Business
Norsemont Mining Completes Strategic Land Acquisitions for Development of Constancia Project
Shares Issued and Outstanding: 53,898,742 TSX: NOM BVL: NOM
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\nShares Issued and Outstanding: 53,898,742\nTSX: NOM\nBVL: NOM\n\n4,000 Hectares of Private Land Secured\n\n\nTORONTO and LIMA, Peru, March 25 /CNW/ - Norsemont Mining Inc. ("the\nCompany") (TSX: NOM, BVL: NOM) today announced the purchase of the fifth and\nfinal private land package (the farm "San Antonio") for the development of the\nConstancia Cu-Ag-Mo project in southern Peru. San Antonio covers an area of\napproximately 1,443 hectares adjoining four other farms already owned by\nNorsemont, bringing the Company's total land package at the Constancia project\nto approximately 4,000 hectares.\n\n\nNorsemont's CEO Patrick Evans said: "The acquisition of San Antonio\nbrings to a conclusion a two-year program to secure all the private land in\nproximity to the Constancia project. Control over this private land provides\nNorsemont with security of access, flexibility in the selection of sites for\nsurface infrastructure without impediments and also simplifies the permitting\nprocess."\n\n\nThe Company also confirmed that the Constancia definitive feasibility\nstudy (DFS) is progressing satisfactorily and remains on schedule for\ncompletion during the second quarter of 2009. Advances to the DFS are\ncompletion of the pit geotechnical drilling and design, seismic studies,\ntailing facility alternatives analysis, selection of the preferred tailings\nfacility and location, selection of the mine waste dump and design criteria,\nand 85% completion of the mining and process engineering. In addition, work on\nthe waste characterisation and site-wide water balance for the project has\nbeen initiated and is on schedule. Offsite infrastructure design for the main\naccess road and power supply has been completed.\n\n\nOn January 26, 2009, the pilot plant testing of a 25-tonne ore sample\ncommenced. The testing program and reporting will be completed by the end of\nMarch. Preliminary results validate the laboratory work in terms of copper,\nzinc and molybdenum interactions.\n\n\nThe Constancia Environmental Social Impact Assessment (ESIA) is\ncontinuing and remains on scheduled for completion by the third quarter of\n2009.\n\n\nIn pursuit of the Company's vision to expand the Constancia resource to\nmore than 800 million tonnes, a geological reconnaissance program has been\ninitiated to further evaluate the...