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Norsemont Reports Updated Mineral Resource Estimate at the 100 Percent-Controlled Constancia Project, Southern Peru
Indicated Resource Grows by approx. 350 percent New Zone of Mineralisation Discovered between Con...
About this update from Norsemont Mining Inc.
[{"type":"text","content":"\n\n\n\n Indicated Resource Grows by approx. 350 percent\n New Zone of Mineralisation Discovered between Constancia and\n San Jose Zones\nVision to Grow Constancia Resource to between 600 and 800 Million Tonnes\n\n\nShare Issued and Outstanding: 48,717,081\n\n\nTSX: NOM\n\n\nBVL: NOM\n\n\nTORONTO, ONTARIO and LIMA, PERU, April 14 /CNW/ - Norsemont Mining Inc.\n("Norsemont" or "the Company") (TSX: NOM; BVL: NOM) is pleased to announce\nresults of an updated resource estimate for the Company's 100\npercent-controlled Constancia Copper-Molybdenum-Silver porphyry deposit in\nsouthern Peru.\n\n\nThe updated independent mineral resource estimate has been completed on\nthe Constancia and San Jose zones of the Constancia deposit by GRD Minproc\nLimited. The report estimates an Indicated Resource of 256.3 million tonnes\ngrading 0.5 % copper, 0.012 % molybdenum and 4.4 g/t silver (0.62 %\nCu-Equivalent) at a cutoff grade of 0.2% copper and an Inferred Resource of\n156.5 million tonnes grading 0.33 % copper, 0.01 % molybdenum and 3.2 g/t\nsilver (0.43 % Cu-Equivalent) at a cutoff grade of 0.2% copper (Table 1). The\nupdated estimate for the Constancia deposit also contains small amounts of\ngold and zinc, which have not been reported.\n\n\n"I am very pleased to see a large increase in our indicated resource base\nin this latest resource estimate", said Robert W. Baxter, President of\nNorsemont Mining. "While we had expected to have our infill drilling largely\ncompleted at this time we have now encountered significant mineralisation\nbetween the Constancia and San Jose zones. We believe now that within that\nenvelope we are beginning to define a strong potassic alteration zone with\npotential for a significant additional target between these zones. We\ncurrently have six diamond drill rigs on site, working two shifts per day to\ndefine this new discovery. In addition, we are scheduled for the arrival of an\nadditional reverse circulation drill rig in April for further rapid screening\nof other promising exploration targets in the immediate vicinity of the\nConstancia and San Jose zones."\n\n\nMr. Baxter added: "Our updated resource statement clearly demonstrates\nthat the Constancia deposit is a large, well defined copper deposit which\nremains open to expansion. Also, it is one of the most adv...