Norsemont Extends Mineralization and Reports Highest Grade Intercept to Date at San Jose Zone, 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 three additional
holes targeting both the Constancia and San Jose Zones at the
Constancia Copper-Molybdenum-Gold-Silver Porphyry Project in southern
Peru.Highlights include:
- Hole CO-05-32: 166.00 meters of 0.83% Copper (0.97% CuEQ(1))
- Hole CO-05-34: 62.00 meters of 1.45% Copper (1.68% CuEQ(1))
- Hole CO-05-35: 180.90 meters of 0.58% Copper (0.88% CuEQ(1))All three holes are on the fringes of previous drilling at Constancia, thus adding significantly to the known extent of mineralization.
"Hole CO-05-34 encountered 62 meters of 1.45% Cu, the highest grades received to-date within the San Jose Zone, located near surface," said Marc E. Levy, President and CEO of Norsemont Mining Inc. "Additionally, step out Hole CO-05-35 encountered the highest molybdenum values yet observed on the property, intersecting 16 meters of 0.60% Cu and 0.071% Mo and 82 meters of 0.59% Cu and 0.054% Mo. The hole terminated in strong mineralization at 296 meters due to caving. Step out Hole CO-05-32 and CO-05-35 suggest that the Constancia Zone remains open for expansion to the south and to the west." To-date, 41 drill holes have been completed by Norsemont at the Constancia Project totalling 9,790 meters.
TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT
DRILL Au Ag CuEQ
HOLE FROM(m) TO(m) INT.(m) Cu (%) Mo (%) (g/t) (g/t) (1)
CO-05-32 166.00 0.83 0.014 0.010 4.99 0.97
incl. 40.00 48.00 8.00 2.32 0.002 0.009 5.90 2.39
incl. 100.00 240.00 140.00 0.80 0.015 0.008 5.01 0.94
incl. 246.00 254.00 8.00 0.38 0.010 0.021 4.38 0.49
incl. 260.00 270.00 10.00 0.48 0.011 0.026 4.50 0.61
CO-05-34 16.00 78.00 62.00 1.45 0.009 0.160 8.24 1.68
CO-05-35 180.90 0.58 0.038 0.068 3.48 0.88
incl. 3.10 32.00 28.90 0.55 0.013 0.038 5.30 0.70
incl. 106.00 120.00 14.00 0.66 0.013 0.081 4.30 0.83
incl. 126.00 166.00 40.00 0.55 0.020 0.140 2.15 0.77
incl. 184.00 200.00 16.00 0.60 0.071 0.087 2.70 1.10
incl. 214.00 296.00 82.00 0.59 0.054 0.038 3.49 0.97
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 San Jose Zone at the Constancia project is believed to be the faulted extension of the main Constancia Zone to the east. Hole CO-05-34, one of five holes completed during 2005 at the San Jose Zone, intersected the highest grades yet encountered. A near surface interval of 62 meters (16m - 78m) encountered 1.45% Cu in mixed skarn mineralization and chalcocite-bearing monzonite. Continued drill testing the near surface potential of the San Jose Zone will be a high priority in early 2006.
Holes CO-05-32 and 35 are 100 meter step-out holes collared within the Southern Fracture System, the thickest and generally highest grade portion of the main Constancia Zone. CO-05-32 tested the southeastern portion of the Fracture Zone, angled to the northwest. Hole CO-05-32 encountered a skarn contact with mineralized monzonite intersecting 140 meters (100 meters - 240 meters) of 0.8% Cu and 0.015% Mo. The interval overlaps mineralized skarn rocks and secondary chalcocite in the monzonite. This intercept has excellent continuity with nearby holes, collectively suggesting that the Constancia zone remains open for expansion to the south. CO-05-35 has extended the Southern Fracture System to the west, encountering 180.9 meters of 0.58% Cu and with 0.038% Mo in five zones. These zones start at the surface and continue to the bottom of the drill hole. This 100 meter step-out hole intersected the strongest molybdenum values yet encountered on the property. Furthermore, the Constancia zone remains open to the west and at depth in this region, since the hole was lost within strong mineralization due to poor down-hole ground conditions.
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'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 will be available shortly 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 project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.
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.
Contact:
For further information: Marc E. Levy, Director & President, Phone:
+1-(604)-669-9788, Fax: +1-(604)-669-9768, E-Mail:
investors@norsemont.com, www.norsemont.com