VANCOUVER, March 7 /CNW/ - Norsemont Mining Inc. ("Norsemont" or "the
Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF;
ISIN: CA6565291045 ) is pleased to announce additional wide intercepts of
significant mineralization have been received from six drill holes within the
San Jose and Constancia Zones at the Constancia Copper-Gold-Silver-Molybdenum
Porphyry Project in southern Peru.
Highlights include:
- Hole CO-05-39: 239m of 0.59% Copper (0.83% CuEQ(1))
- Hole CO-05-40: 144m of 0.58% Copper (0.73% CuEQ(1))
- Hole CO-05-41: 24.0m of 0.81% Copper (1.01% CuEq(1))
"Drilling at Constancia continues to encounter consistently good grades
and significant thicknesses in multiple areas," said Marc E. Levy, President
and CEO of Norsemont Mining Inc. "The San Jose Zone is open to expansion in
all directions, and the Constancia Zone is open to the South and East."
<<
TABLE 1
HOLE FROM(m) TO(m) INT.(m) Cu(%) Mo(%) Au(g/t) Ag(g/t) CuEQ(1)
-------------------------------------------------------------------------
CO-05-36 114.00 132.00 18.00 0.46 0.0020 0.121 2.26 0.51
CO-05-37 90.00 104.00 14.00 0.35 0.0062 0.220 2.74 0.40
CO-05-38 49.50 68.00 18.50 0.86 0.0250 0.100 4.70 0.98
CO-05-39 17.50 256.50 239.35 0.59 0.0267 0.067 4.81 0.83
CO-05-40 88.00 232.00 144.00 0.58 0.0146 0.044 3.75 0.73
C0-05-41
Incl. 72.00 142.00 70.00 0.53 0.0147 0.046 3.90 0.68
118.00 142.00 24.00 0.81 0.0213 0.048 4.99 1.01
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).
The final six holes completed during the 2005 drilling program at
Constancia are reported in Table 1. Drill holes 36, 37 and 38 were located at
the limits of the north-west and north-east extensions of the Constancia Zone
proximal to a northeast striking fault zone which offsets the San Jose Zone
from the Constancia Zone. Hole 39 is located near the southwest boundary of
the Constancia zone; the 239.35 meter interval of 0.83% copper equivalent
(including 0.59% copper) was terminated in strong mineralization averaging
over 0.80% copper equivalent. This hole encountered one of the thickest
mineralized intervals encountered during the 2005 drilling program. The
mineralized system remains open for expansion to the south of this hole
underneath overburden. Hole 40 was collared at the easternmost known limit of
the Constancia Zone, previously interpreted to be a "window" of lower grade
mineralization. A significantly higher grade and thicker interval than
expected was encountered: 144 meters averaging 0.73 % copper equivalent
(0.58% copper). Copper mineralization in hole 40 is dominantly chalcocite and
mixed chalcocite/chalcopyrite in the host monzonite. Hole 41 was the last hole
completed during the 2005 program, encountering copper mineralization in mixed
skarn and secondary chalcocite. This hole encountered a near-surface interval
of 70 meters (72m - 142m) averaging 0.68% copper equivalent (including
0.53% copper). The San Jose Zone has been drill tested over a 250 meter width
and partially drill tested along a potential north-south length exceeding one
kilometer.
The ongoing 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 used for check
assaying.
Robert McLeod, P. Geo., Norsemont's Consulting Geologist and Qualified
Person as defined by NI 43-101 has reviewed and approved information contained
in this news release.
A plan map with drill hole locations is available on Norsemont's 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, Ag project, and commencing exploration at
the Amata Ag-Au, Cu property acquired from Rio Tinto. Norsemont recently
completed a financing of $14 million.
Marc E. Levy
Director & President
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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