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Gold/Mining/Energy : Mining News of Note -- Ignore unavailable to you. Want to Upgrade?

To: LoneClone who wrote (36523)	5/4/2009 9:46:33 PM
From: LoneClone	Read Replies (1) \| Respond to of 192834

Norsemont Mining Provides Constancia Project Update Mon May 4, 7:59 PM ca.news.finance.yahoo.com Shares Issued and Outstanding: 60,266,947 TSX: NOM BVL: NOM TORONTO and LIMA, Peru, May 4 /CNW/ - Norsemont Mining Inc. ("the Company") (TSX: NOM, BVL: NOM) today announced that the Company anticipates a delay to the final completion of the definitive feasibility study (DFS) report for the Constancia Cu-Ag-Mo project in southern Peru. Delays with the private land acquisition, that was completed in March, 2009, resulted in the postponement of the scheduled start date for the final phase of geotechnical and hydrogeological drilling. This drill program is now underway and scheduled for completion at the end of May 2009. As a result, the geotechnical and hydrogeological characterisation required for engineering of the various site infrastructure cannot be completed in time to meet the original DFS completion date and is now expected to be completed before the end of the third quarter of 2009. Substantial progress with the engineering has been made with approximately 90 percent of the mining and process engineering completed and approximately 70 percent of the engineering for the tailings facility and pit hydrogeology completed. In order to fast-track the project both the DFS and Environmental and Social Impact Assessment (ESIA) are being conducted in parallel with the ESIA expected to be completed prior to year-end. In addition to the DFS and ESIA, the Company continues to explore key targets within the Constancia claim boundaries. Preliminary reconnaissance exploration program results from the Pampacancha copper/gold and south zones confirm the relationship with the widespread mineralization and the geophysical surveys. Results from the exploration programs will be released following the completion of the field programs. About Norsemont Mining Norsemont Mining is a Canadian mineral exploration and development company focused on the 100 percent-controlled Constancia Cu-Mo-Ag deposit in southern Peru. Contacts Patrick Evans Norsemont Mining Phone: (416) 670-5114 E-Mail: investors@norsemont.com Web Site: www.norsemont.com