Norsemont Intersects 159 Metres of 1.12% Copper (1.22% cueq) in Step-Out Drilling 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
results from four more Phase II diamond drill holes targeting the
Constancia and San Jose Zones at the Constancia
Copper-Molybdenum-Silver-Gold Porphyry Project in southern Peru. Highlights:
<<
- Hole CO-06-55: 159.0 metres at 1.12% Copper (1.22% Copper
Equivalent), and
- Hole CO-06-56: 56.0 metres at 1.23% Copper (1.60% Copper
Equivalent)
TABLE 1: COPPER INTERSECTIONS AT CONSTANCIA PROJECT
DRILL FROM TO INT. Cu Mo Au Ag CuEQ
HOLE (m) (m) (m) (%) (%) (g/t) (g/t) (1)
CO-06-53 10.8 242.0 159.6(2) 0.45 0.0039 0.010 2.01 0.50
incl. 10.8 18.2 7.4 0.52 0.0018 0.015 0.16 0.54
incl. 43.8 102.0 58.2 0.50 0.0028 0.006 2.15 0.54
incl. 188.0 200.0 12.0 0.59 0.0024 0.020 2.07 0.64
incl. 210.0 242.0 32.0 0.53 0.0064 0.007 1.24 0.59
CO-06-54 22.0 154.0 132.0 0.65 0.0066 0.130 3.74 0.80
CO-06-55 35.00 194.00 159.0 1.12 0.0093 0.028 2.29 1.22
CO-06-56 22.00 78.00 56.0 1.23 0.0025 0.440 12.70 1.60
>>
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).
Note 2: In hole -053, the 231.2 m interval from 10.8 m to 242.0 m
contains 6 mineralized zones with an aggregate interval length of
159.6 m. The weighted average results of those intervals are reported.Drill holes CO-06-O53 and -055 are 100 metre step-out holes in the Constancia Zone that contain mixed chalcocite and chalcopyrite, with the chalcocite content decreasing with depth. Native copper was observed in the upper chalcocite interval of hole -055.
Drill holes CO-06-054 and -056 are 100 metre step-out holes toward the current southern boundary of the San Jose Zone. Chalcocite predominates within the top 40 metres, while chalcopyrite mineralization dominates at depth.
The majority of future holes will be step-out holes on 100 metre centers, similar to the program carried out in 2005, for the purpose of calculating a resource estimate for the property. Two drill rigs are currently operating on site.
"Hole 55, a step-out hole in the Constancia Zone, with 159 metres of 1.12% copper, and 1.22% copper equivalent, is one of the best holes we've drilled to date, based on both the grade and interval length," said Marc E. Levy, President & CEO of Norsemont Mining Inc.
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.
Norsemont also announces the issuance of an aggregate of 150,000 options to one officer and one employee of the Company at a price of $2.00 per share, expiring 5 years from date of grant. This grant is subject to TSX-V approval and shareholder approval at the 2006 Annual General Meeting.
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-Gold project, and exploration is underway at the Amata Silver-Gold property acquired from Rio Tinto.
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: Brian Soregaroli, VP Corporate
Communications at: Phone: +1-(604)-669-9788 x109, Fax:
+1-(604)-669-9768, E-Mail: investors@norsemont.com, Web Site:
www.norsemont.com