Norsemont Extends Mineralized Zone at the Constancia Project
Vancouver, Canada (ots/PRNewswire)
Norsemont Mining Inc.
("Norsemont" or "the Company") (TSX-V: NOM; Frankfurt: N8S; WKN:
A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045) is pleased to announce
that encouraging results have been received from the first three
Phase II diamond drill holes targeting the Constancia Zone at the
Constancia Copper-Molybdenum-Silver-Gold Porphyry Project in southern
Peru. Highlights include:
- Hole CO-06-42: 317.00 metres of 0.44% Cu and 0.028% Mo (0.65% CuEQ1)
- Hole CO-06-43: 108.00 metres of 0.93% Cu and 0.013% Mo (1.08% CuEQ1)
- Hole CO-06-44: 210.00 metres of 0.58% Cu (0.68% CuEQ1).Drill hole CO-06-042 is a step-out hole on the west side of the Constancia zone, which hit 317.0 metres of mineralization (Table 1). Drill holes CO-06-043 and 044 are infill holes within the Constancia zone.
TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT
DRILL Au Ag
HOLE FROM(m) TO(m) INT.(m) Cu (%) Mo (%) (g/t) (g/t) CuEQ(1)
CO-06-42 24.25 341.25 317.00 0.44 0.028 0.034 2.70 0.67
CO-06-43 0.00 108.00 108.00 0.93 0.013 0.060 4.24 1.09
116.00 186.00 70.00 0.73 0.018 0.024 6.90 0.93
CO-06-44 0.00 18.00 18.00 0.60 0.003 0.590 4.86 0.99
40.00 68.00 28.00 0.60 0.002 0.150 6.48 0.75
76.00 210.00 134.00 0.58 0.001 0.080 4.70 0.67
Note 1: Copper equivalent Values (CuEQ) are estimated using long-term
metal prices including: Copper US$1.20 per lb, Molybdenum US$8.00 per lb,
Gold US$450 per oz., and Silver US$7.50 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 Mo percent times
(8.00/1.20) plus Au grams per tonne times 14.47/(1.20(x)22.05) plus
Ag grams per tonne times 0.24/(1.20(x)22.05).In this current drilling campaign Norsemont has completed two additional infill holes (assays not yet received). The majority of future holes will be step-out holes on 100 meter centers, similar to the program carried out in 2005, for the purpose of calculating a resource estimate for the property. The company is currently drilling hole CO-06-051, which is an additional step-out hole. Two drill rigs are currently operating on site.
"We are delighted with these initial results," said Marc Levy, Norsemont President & CEO. "We are encouraged to find that the two infill drill holes indicate excellent continuity within the mineralized zone. Of significant interest is that the first step-out hole, peripheral to the previously known Constancia mineralization, shows that mineralization continues from near surface to a significant depth." (Refer to 2005 drill results news releases for comparable data.)
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.
Art C. Freeze, P. Geo., Director of Norsemont 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 will be available shortly on Norsemont's website at www.norsemont.com
About Norsemont Mining
Norsemont Mining is a well structured, well 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 exploration is underway at the Amata Ag-Au property acquired from Rio Tinto. Norsemont recently completed financings totaling $14 million.
Sincerely,
Marc E. Levy
President & CEO
Norsemont Mining Inc.
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.
Contact:
For further information: contact Marc Levy, President & CEO, or Brian
Soregaroli, VP Corporate Communications at: Phone: +1-(604)-669-9788,
Fax: +1-(604)-669-9768, E-Mail: investors@norsemont.com,
www.norsemont.com