VANCOUVER, July 6 /CNW/ - Norsemont Mining Inc. ("Norsemont") reports it
has mobilized an initial crew to prepare for drilling at the Constancia
Copper-Gold-Molybdenum Project in Peru optioned from Rio Tinto (NYSE:RTP).
Constancia (5,146 hectares) is a recently discovered, large copper-gold-
molybdenum porphyry system.
The objective of the program is to perform infill drilling for a resource
calculation. The area targeted is the first of several prospective geophysical
anomalies confirmed by previous exploratory drilling on the property completed
by Rio Tinto in 2004. The phase 1 diamond drilling program will consist of
approximately 15 holes totaling 5,000 metres.
In order to prepare for drilling, Norsemont has deployed a team of
geologists, assistants and other site personnel to the property. The property
is located approximately 600 km southeast of Lima, within the emerging Yauri-
Andahuaylas metallogenic belt, hosting several large copper-gold-molybdenum
porphyry deposits including Antapaccay and Los Chancas, as well as copper
skarn deposits including Tintaya and Las Bambas.
Additionally, Norsemont has granted 335,000 incentive stock options to
directors, officers, consultants and employees, exercisable at 80 cents per
share. The options are exercisable for a period of five years from the date of
grant in accordance with the terms of the company's plan. The grant is subject
to the policies of the TSX Venture Exchange.
Dr. Thomas Henricksen, P. Geo., a qualified person as defined by National
Instrument 43-101 and consultant to the company, has reviewed and verified the
geological information contained in this news release.
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.