Norsemont hits 82 metres of 1.10% copper (1.28% copper equivalent) and continues to extend mineralized zone at Constancia
TSX-V: NOM
VANCOUVER, Aug. 29 /CNW/ - Norsemont Mining Inc. ("Norsemont" or "the
Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN:
CA6565291045) is pleased to announce results from five more Phase II diamond
drill holes targeting the Constancia and San Jose Zones at the Constancia
Copper-Molybdenum-Silver Porphyry Project in southern Peru.
<<
Highlights:
- Hole CO-06-62: 96 metres at 0.70% Copper (0.83% Copper Equivalent)
- Hole CO-06-63: 82 metres at 1.10% Copper (1.28% Copper Equivalent)
- Hole CO-06-64: 76 metres at 0.70% Copper (0.77% Copper Equivalent)
- Hole CO-06-65: 75 metres at 0.61% Copper (0.74% Copper Equivalent)
and 148 metres at 0.91% Copper (1.01% Copper Equivalent)
"I am highly encouraged to see such consistent drill results over
significant intervals, with good grade continuity," said Robert W. Baxter,
President of Norsemont Mining Inc. "We continue to push out the extent of the
Constancia Zone as we build our model of the deposit and work on our
preliminary resource estimate."
TABLE 1: COPPER INTERSECTIONS AT CONSTANCIA PROJECT
DRILL FROM TO INT. Cu Mo Ag
HOLE (m) (m) (m) (%) (%) (g/t) CuEQ(1)
-------------------------------------------------------------------------
CO-06-62 2.0 8.0 6.0 0.62 0.0033 12.8 0.76
and 16.0 36.0 20.0 0.66 0.0019 6.33 0.73
and 52.0 148.0 96.0 0.70 0.0110 5.70 0.83
and 154.0 166.0 12.0 0.75 0.0042 2.42 0.80
and 188.0 290.0 102.0 0.42 0.0250 3.40 0.62
CO-06-63 60.0 142.0 82.0 1.10 0.0150 8.33 1.28
CO-06-64 162.0 324.0 162.0 0.53 0.0075 3.12 0.61
incl. 248.0 324.0 76.0 0.70 0.0053 3.48 0.77
CO-06-65 68.7 144.0 75.4 0.61 0.0113 5.60 0.74
and 188.0 336.0 148.0 0.91 0.0081 5.50 1.01
CO-06-66 112.0 150.0 38.0 0.37 0.0055 3.22 0.44
>>
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,
and Silver US$7.50 per oz. Adjustment factors to account for differences
in relative metallurgical recoveries will depend upon the completion of
definitive metallurgical testing.
CuEQ equals Cu per cent plus Mo percent times (8.00/1.20) plus Ag grams
per tonne times 0.24/(1.20(*)22.05).
Drill hole CO-06-62 extends the known mineralization on the southeast
side of the Constancia Zone. The hole contains chalcopyrite-bearing skarn,
secondary chalcocite and mixed chalcocite/chalcopyrite.
Hole CO-06-63 was drilled in the northwest sector of the Constancia Zone
in an area thought to be beyond the extent of secondary copper mineralization.
However, the hole contained secondary chalcocite and mixed
chalcocite/chalcopyrite mineralization, extending the mineralized zone in this
area and prompting the drilling of holes CO-06-65 and -66, as detailed below.
Hole CO-06-64 extends the known area of mineralization within the
Constancia Zone to the southwest. The hole contains both chalcopyrite-bearing
skarn and secondary copper mineralization.
Hole CO-06-65 builds on the success of hole CO-06-63, extending the known
mineralization within the Constancia Zone further to the northwest. The hole
contains chalcopyrite and significant chalcocite.
Hole CO-06-66 was drilled from the same location as hole CO-06-63, in the
northwest part of the Constancia zone; however, the hole was drilled to the
northeast, toward 2005 holes with thinner intersections. As expected, a
relatively thin, lower grade zone was intersected containing chalcopyrite with
some chalcocite.
The majority of future holes will be step-out holes on 100 metre centres,
similar to the program carried out in 2005, for the purpose of calculating a
resource estimate for the property. Three drill rigs are currently operating
on site.
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, who has reviewed and approved the information
contained in this news release. 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.
A plan map with drill hole locations is available on Norsemont's website
at www.norsemont.com.
About Norsemont Mining
Norsemont Mining is a well structured, well financed exploration company
working in the Americas, with a focus on Peru. The Company is currently
drilling the Constancia Copper-Molybdenum-Silver project, and exploration is
underway at the Amata Silver-Gold property acquired from Rio Tinto.
ON BEHALF OF THE BOARD OF DIRECTORS,
Robert W. Baxter
President
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.
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