VANCOUVER, Nov. 9 /CNW/ - Norsemont Mining Inc. ("Norsemont" or
"the Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is
very pleased to announce that assay results for an additional six holes have
been received from its Constancia Copper-Gold-Silver-Molybdenum Porphyry
Project in southern Peru.
Photos of the Constancia project are available at:
http://www.norsemont.com/properties.php?page(equal sign)constancia&subpage
(equal sign)photos
Highlights include:
- Hole CO-05-13: 164m of 0.94% Copper (1.13% CuEQ1)
- Hole CO-05-14: 301m of 0.77% Copper (0.86% CuEQ1)
- Hole CO-05-16: 118m of 0.81% Copper (1.00% CuEQ1)
- Hole CO-05-18: 118m of 0.83% Copper (1.00% CuEQ1)
"In addition to exceptional grades, these results include our widest
interval of mineralization yet encountered at Constancia." said Marc E. Levy,
President and CEO of Norsemont Mining Inc., "Hole CO-05-14 encountered over
300 meters of 0.86% copper equivalent (CuEQ1), including 0.77% Cu, 4.5 g/t Ag,
0.056 g/t Au and 0.002% Mo. We are continuing with our aggressive drill
program to infill and expand the limits of known mineralization."
TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT
<<
Au Ag CuEQ
Hole No. From(m) To(m) INT.(m) Cu (%) Mo (%) (g/t) (g/t) (1)
CO-05-13 92.00 256.00 164 0.94 0.009 0.149 4.8 1.13
Incl. 212.00 250.00 38 1.42 0.004 0.06 4.9 1.52
CO-05-14 22.00 323.00 301 0.77 0.002 0.056 4.5 0.86
Incl. 109.40 172.00 62.6 1.26 0.005 0.038 4.5 1.36
CO-05-15 4.00 22.00 18 0.49 0.028 0.037 2.9 0.71
48.00 66.00 18 0.54 0.034 0.033 3.02 0.79
CO-05-16 25.65 60.00 34.35 1.01 0.028 0.072 5.47 1.27
80.00 136.00 56 0.63 0.024 0.049 6.2 0.86
172.00 290.00 118 0.81 0.019 0.041 5.73 1.00
CO-05-17 NO SIGNIFICANT
ASSAYS
CO-05-18 22.00 140.00 118 0.83 0.008 0.137 4.48 1.00
146.00 156.00 10 1.23 0.003 0.031 7.8 1.34
176.90 232.00 55.1 0.93 0.004 0.019 5.67 1.02
Note 1: Copper equivalent Values (CuEQ) are estimated using long-term
metal prices including: Copper US$1.00 per lb, Molybdenum US$6.00 per lb,
Silver US$6.50 per oz., and Gold US$400 per oz. Adjustment factors to
account for differences in relative metallurgical recoveries for gold,
copper and molybdenum will depend upon the completion of definitive
metallurgical testing. CuEQ equals Cu per cent plus (Au grams per tonne
times 12.86/22.05) plus (Mo percent times 132.28/22.05) plus (Ag grams
per tonne times 0.21/22.05).
TABLE 2 DRILL HOLE COLLAR COORDINATES
Hole No. East North Azimuth Dip
CO-05-13 202100E 8400000N 225 -75
CO-05-14 202200E 8399900N 160 -80
CO-05-15 201800E 8399700N 45 -80
CO-05-16 201800E 8399800N 100 -80
CO-05-17 202300E 8400000N 300 -75
CO-05-18 202100E 8399900N 315 -60
Recent drilling has encountered blind copper-molybdenum mineralization
beneath the skarn and marble on the south end of the Constancia Zone. Drill
holes CO-05-12, 14, 16, and 18 encountered excellent secondary chalcocite
mineralization, as well as primary chalcopyrite, and occasionally primary
bornite in the monzonite directly beneath the cap of skarn. Grades above 1%
copper are common in the secondarily-enriched zones directly beneath skarn.
More importantly, this Constancia Zone remains open for expansion to the
southeast underlying shallow holes completed by previous operators, which were
not drilled to sufficient depths to intersect the intensely mineralized
skarn/intrusive contact.
Hole C0-05-15 was drilled down or alongside a post-mineral dyke, or
possibly a pre-mineral sliver of weakly altered monzonite, with only limited
copper mineralization (one 18 meter zone of 0.49% copper and 280 ppm Mo and
another 18 meter zone of 0.54% copper and 340 ppm molybdenum). Hole CO-05-17
was drilled in a covered area to the east, but apparently in a lobe of
relatively fresh rock between east-west trending extensively mineralized
zones.
In addition to ongoing drilling at the Constancia Zone, Norsemont has
commenced drilling at the highly prospective San Jose Zone. Drilling will test
areas where shallow ( less than 50 meters) drilling by previous operators
encountered high grade copper values. The Company will also test prospective
leached cap areas in the north San Jose Zone. Assay results on the recently
completed holes will be released shortly.
The drilling program and geological studies at the Constancia project are
being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont's Qualified
Person as defined by NI 43-101. Core samples are cut with a diamond saw, with
one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay
Labs in Lima, Peru. The program includes an extensive quality control program
for assaying which includes the systematic use of standards, blanks, and field
duplicate samples. Secondary laboratories are also used for check assaying.
Robert McLeod, P. Geo., Norsemont Consulting Geologist and Qualified
Person as defined by NI 43-101 has reviewed and approved information contained
in this news release.
A plan map and cross-section with drill hole locations will be available
shortly on the Norsemont website at www.norsemont.com
Norsemont Mining is a well-structured and financed exploration company
working in the America's, with a focus on Peru. The Company is currently
drilling the Constancia Cu-Au-Mo project, and commencing exploration at the
Amata Ag-Au property acquired from Rio Tinto.
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.
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