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Norsemont intersects best grades yet encountered at Constancia
12/19/2005
VANCOUVER, Dec. 19, 2005 (Canada NewsWire via COMTEX) --
Norsemont Mining Inc. ("Norsemont" or "the Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045) is pleased to announce that assay results for an additional four holes have been received from its Constancia Copper-Gold-Silver-Molybdenum Porphyry Project in southern Peru.
Highlights include: - Hole CO-05-27: 118m of 0.74% Copper (1.07% CuEQ(1)) - Hole CO-05-28: 22m of 2.02% Copper (2.49% CuEQ(1)) - Hole CO-05-29: 58m of 0.88% Copper (1.02% CuEQ(1))
"The southern portion of the main Constancia Zone exhibits near-surface, excellent copper, silver and molybdenum grades over wide intervals," said Marc E. Levy, President and CEO of Norsemont Mining Inc. "Hole CO-05-28 encountered 22 meters of 2.02% Cu, 0.03% Mo, 198 ppb Au and 17.18 g/t Ag, the highest grades yet encountered on the project." Future drilling will continue to step-out from this recent drilling to expand the deposit along strike.
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TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT
Drill
--------------------------
DRILL Cu Mo Au Ag
HOLE FROM(m) TO(m) INT.(m) (%) (%) (g/t) (g/t) CuEQ(1)
-------------------------------------------------------------------------
CO-05-26 No Significant Assays
CO-05-27 168.00 286.00 118.00 0.74 0.041 0.059 4.97 1.07
including 168.00 222.00 54.00 1.05 0.031 0.084 6.07 1.35
CO-05-28 162.00 184.00 22.00 2.02 0.031 0.198 17.18 2.49
CO-05-29 92.00 150.00 58.00 0.88 0.011 0.052 4.23 1.02
and 150.00 270.00 120.00 0.66 0.021 0.052 3.54 0.85
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).
Results to-date in the Constancia Zone have identified two distinct corridors east-west trending structural corridors of high-grade mineralization within the extent of the open-ended mineralizing system. Additionally, excellent continuity of near-surface supergene-enriched copper mineralization at Constancia is unique for porphyry and skarn deposits in southern Peru, amenable to low-cost heap leach recoveries. Norsemont is initiating metallurgical testwork on samples representative of supergene material, as well as primary mineralization.
Norsemont's ongoing drilling at the Constancia Zone is testing the northern and southern portions of known mineralization. Holes CO-05-27, 28 and 29 are located in the southern half of the Constancia Zone, and were drilled at the limits of known mineralization. CO-05-27 and 29 were drilled from the same platform and directed to the south at -60 and -80 degrees respectively. Strong chalcocite was encountered in both drill holes over significant core lengths, suggesting that the mineralizing system remains open. Hole CO-05-28, a 100 meter step-out hole in the south-central portion of the zone encountered strong mineralization, and suggests that the zone remains open to the south. Hole CO-05-26 was collared in the extreme northeast corner of the deposit, and did not encounter significant mineralization.
Norsemont's expanded program has completed over 9,000 meters of core drilling on the property to-date, with current drilling testing the San Jose Zone, located west of the main Constancia Zone. Management is encouraged by the results received to-date, suggesting that the deposit has excellent continuity of near-surface mineralization, and remains open to expansion in multiple directions and at depth. Norsemont expects to release additional assay results from the initial holes from the San Jose Zone shortly.
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 is available on Norsemont's website at http://www.norsemont.com
Norsemont Mining is a well-structured and financed exploration company working in the Americas, 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. >>
SOURCE: Norsemont Mining Inc.
Marc E. Levy, Director & President, Phone: (604) 669-9788, Fax: (604) 669-9768, E-Mail: investors@norsemont.com, http://www.norsemont.com
Copyright (C) 2005 CNW Group. All rights reserved.