Business
Norsemont Provides Constancia Project Update
Norsemont Provides Constancia Project Update
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\n Jun. 15, 2010 (Canada NewsWire Group) -- \n >\n\n\n Norsemont Mining Inc. ("the Company") (TSX: NOM, BVL: NOM) is pleased to announce that on June 12, 2010, the Company signed an agreement with the community of Chilloroya for its annual access contract, which allows Norsemont access to the community's surface rights overlying the Company's extensive mineral rights. The access contract, which is to be ratified by the community assembly on June 20, 2010, provides Norsemont access to the new exploration targets at Chilloroya South and Pampacancha.\nNorsemont has begun the mobilization of four drill rigs to drill test both the Pampacancha and Chilloroya South targets. A first phase program of approximately 13,000 metres, which is expected to resume before the end of the month, will further define skarn mineralization at Pampacancha and test a cluster of strong chargeability anomalies at Chilloroya South. The new discoveries at Chilloroya South have individual dimensions of 1,000 x 900 metres over an area of 4km x 3km. A reconnaissance program conducted last year revealed strong surficial evidence of porphyry related Cu-Au-Mo mineralization. Of the 152 rock chip samples taken 52% reported values from 0.1g/t to 7.84 g/t Au, 85% were anomalous in copper with values from 70ppm to 1.33% Cu and 40% anomalous in molybdenum with values 10ppm to 446 ppm Mo.\nIn addition, the Company is also pleased to announce that the Executive Summary and the Public Participation Plan elements of the Environmental and Social Impact Assessment (ESIA) for the Constancia Project were approved for public dissemination by the Peru's Ministry of Energy and Mines (MINEM). On June 3, 2010, the ESIA public audience was held and attended by approximately 1,500 people from communities in the vicinity of Constancia. The forum was chaired by representatives from the Ministry of Energy and Mines and the Regional Direction of Energy and Mines. Technical presentations were made by representatives from consulting groups Knight Piesold, Social Capital Group and MWH. Based on established regulations, the ESIA approval process should not exceed 120 days and, barring any unforeseen obstacles, the Company expects to receive final approval of the ESIA by October 2010.\nCommenting, Norsemont President and COO Bob Baxter said: "We are very pleased to have f...