NOM:CC - Norsemont Expands Footprint at Choquelimpie with Latest Positive Drill Results Which Intercepted 170 Meters of 1.57 G/T AuEq And 95 Meters of 1.92 G/T AuEq
(TheNewswire)
Vancouver, B.C. - TheNewswire - March 31 st , 2022 - Norsemont Mining Inc. (CSE:NOM )(CNSX:NOM.CN) ( OTC:NRRSF ) ( FWB:LXZ1) ( “ Norsemont ” or the “ Company ” ) is pleasedto announce the third tranche of results from its 2021 maiden diamonddrilling program at the company’s Choquelimpiehigh sulphidation epithermal gold-silver project in northern Chile.
Highlights:
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Hole MV21-009 returned notableintercepts that include long gold-silver intervals that remain openalong strike and to depth, as well as near-surface oxide, that expandthe known footprint of mineralisation in the Choque Pit area:
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170.0 m grading 1.35 grams per tonne(“g/t”) gold (“Au”), 18.3 g/t silver (“Ag”), (1.57 g/tAuEq*),
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And 47.0 m grading 0.56 g/t Au,
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And 15.0 m grading 0.84 g/t Au, 8.4g/t Ag (0.94 g/t AuEq) as oxide
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The third batch of analytical results for the program have beenreceived from Andes Analytical Laboratories and correspond to diamond drill holes MV21-001, MV21-007 andMV21-009 . A detailed plan map of holes in theChoque Pits area is shown in Figure 1 and a section through the holewith a table of significant gold intercepts** is shown in Figure 2.
*Gold equivalent (AuEq) is used forillustrative purposes, to express the combined value of Au and Ag as apercentage of Au. AuEq is calculated using 80:1 silver to gold ratiowhere AuEq = Au + (Ag*0.012). No allowances have been made toaccommodate potential recovery losses that would occur in a miningscenario.
** Significant gold intercepts arethose with >0.3 g/t Au, maximum 4.0 m continuous internal dilution;Grades are core-length weighted and rounded to two decimal places.True width is estimated at 75-95% of core length.
Marc Levy, Norsemont’s CEO comments, "This exciting drill hole, MV21-009 beneath the ChoquePit is potentially transformational for the company. The 170minterval grading 1.57g/t AuEq remains open along strike and at depth.The fact that precious metals grades increase to 1.92 g/t AuEq in thelower 100m of this hole along with the presence of coppermineralization supports our thesis of potential porphyry Au-Cumineralization beneath this hole. Similarly, we need additional drilltesting to determine what our new porphyry discovery at Vizcacha lookslike at depth. In both locations we have demonstrated significantmineralization extends beyond historic drilling, to depths of at least300m vertically below surface”.
Figure 1: Plan Map of the Choque Pitwith location of significant gold intercepts in drill hole MV21-009( this news release , red text). Results of hole MV21-006 werereported in a news release on March 2, 2022. Results of hole MV21-008and MV21-010 are pending.
Figure 2: Cross-section A-A’through drill hole MV21-009 showing significant gold intercepts andpreliminary geological interpretation. Mineralisation is open alongstrike and to depth.
MV21-009 wassited to test for extensions of mineralisation to the south-east andbeneath the Choque Pit, Figure 1 and 2. The hole intersected greysilica matrix hydrothermal breccias with pyrophyllite-dickite advancedargillic alteration and disseminated and crackle-hosted pyrite(±enargite-sphalerite) mineralisation. Notable mineralised intervals include 15.0 m of near surface oxidegold followed by 170.0 m of highly significant gold-silvermineralisation.
Drillhole MV21-001 was planned to test for extensions ofthe hydrothermal breccias seen in the Vizcachas pit to the north andto depth (Figure 3). The hole cut a multi-pulse breccia complex madeup of chaotic matrix, tuffisite matrix and hydrothermal matrixbreccias with advanced argillic alteration (dickite-pyrophyllite,illite-pyrophyllite) and silicification thoughtto represent the transition from the upper epithermal environment tothe deeper porphyry environment. Mineralisation occurs as sulphides ofpyrite (± enargite-galena-sphalerite) with gold grades open in alldirections.
Figure 3: Plan Map of the VizcachaPit with location of significant gold intercepts in drill holeMV21-001. Results of holes MV21-002, 003, 004 and 005 were previouslyreported on Feb 9, 2022 and March 2, 2022.
MV21-007 wassited to extend mineralisation between the Intermedio pit and the openmineralisation intercepted in historic drillhole R144 (69m @ 2.76 g/tAu, 21.9 g/t Ag), Figure 4. The hole cut a daci-andesite dome withargillic and advanced argillic alteration. Oxide mineralisationextends to 18.7 m before entering the sulphide zone with pyrite( ± sphalerite-galena). Thealteration and mineralisation, which returned sporadic intercepts, isinterpreted as being typical of the peripheral “halo” to thehigh-grade zones seen in the Intermedio Pit.
John Currie, Norsemont’s VP of Exploration states “These new diamond drilling results continueto provide us with highly significant gold and silver grades overbroad intervals and to depth in the Choque Pit area, below historicdrilling. The upside potential of the Choquelimpie epithermal depositis becoming better understood and this knowledge in combination withthe discovery of proximal porphyry-style mineralisation, suggestsexcellent exploration potential going forward. Now, we await the finaltranche of assay results from the drilling, and the results of surfacemapping and sampling of the Vizcacha Porphyry”.
In the Q4 2021 drill campaign Norsemont completed tendiamond drill holes for a total of 3,144.1 m, (Figure 4).
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Figure 4: Choquelimpie historic openpits and drill holes, with Norsemont’s 2021 drill hole locations.Holes with results reported here are highlighted in yellow.
Drill core for the Choquelimpie 2021 drill program is collecteddirectly from the drill site by company staff and taken to the coreshack at the Choquelimpie camp. Drill core is logged, photographed,and sampled by staff who insert certified reference materials into thesampling sequence when/where appropriate. Sample lengths are marked at1.0 metre intervals and the core is cut by a diamond blade rock saw,with half of the cut core placed in individual bar-code numberedpolyurethane bags and half placed back in the original core box forpermanent storage. The sample bags are sealed, placed insecurity-sealed sacks, and then delivered by company staff to theAndes Analytical Laboratory (AAA) sample receiving facilities inArica, Chile.
All drill core splits reported in this news release were analysed atAAA in Santiago, Chile utilising their ICP_AES_HF38m1 analyticalpackage. This comprises a four-acid digestion followed by a 38-elementICP-MS scan, in conjunction with the AEF_AAS_1E42 40g Fire Assay withAAS finish for gold on all samples. Samples that return values >10ppm gold from fire assay and AAS are determined by using fire assayand a gravimetric finish (lab code AEF_GRV_1E43). Samples that returnvalues >5,000 ppm for copper and >400 ppm silver by ICP analysisare determined by four acid digestion AAS finish assay (lab codes4A-HF_AAS_1E13_ppm and 4A-HF_AAS_1E08_0.25-100 respectively).
The information presented in this news release was collected andprepared by SCM Vilacollo staff in accordance with Canadian regulatoryrequirements as set out in National Instrument 43-101. QA/QC for theanalytical results was reviewed by Mr. Enrique Grez, an independentqualified person, registration number 0015 of the ComisiónCalificadora de Recursos y Reservas Mineras de Chile, and a QualifiedPerson as defined in National Instrument 43-101, Standards forDisclosure for Mineral Projects.
Mr. Art Freeze, P.Geo, Director of Norsemont Mining as well as aqualified person as defined by National Instrument 43-101, hassupervised the preparation of the technical information in this newsrelease.
About Norsemont Mining Inc.
Norsemont comprises experienced natural resourceprofessionals focused on growing shareholder value and developing itsflagship project through to bankable feasibility. Norsemont Miningowns a 100-per-cent interest in the Choquelimpie gold-silver projectin northern Chile, a previously permitted gold and silver mine.Choquelimpie has over 1,710 drill holes, with significant existinginfrastructure, including roads, power, water, camp and a 3,000 TPDmill.
On behalf of the Board of Directors,
NORSEMONT MINING INC.
Marc Levy
CEO & Chairman
For more information, please contact the Company at:
Telephone: (604) 669-9788; Facsimile: (604)669-9768
Investor Relations:
Paul Searle (778) 240-7724 ( psearle@citygatecap.com )
Forward-Looking Information
This release includes certainstatements that are deemed "forward-looking statements". Allstatements in this release, other than statements of historical facts,that address events or developments that Norsemont expects to occur,are forward-looking statements. Forward-looking statements arestatements that are not historical facts and are generally, but notalways, identified by the words "expects","plans", "anticipates", "believes","intends", "estimates", "projects","potential" and similar expressions, or that events orconditions "will", "would", "may","could" or "should" occur. Although the Companybelieves the expectations expressed in such forward-looking statementsare based on reasonable assumptions, such statements are notguarantees of future performance and actual results may differmaterially from those in the forward-looking statements. Factors thatcould cause the actual results to differ materially from those inforward-looking statements include changes to commodity prices, mineand metallurgical recovery, operating and capital costs, foreignexchange rates, ability to obtain required permits on a timely basis,exploitation and exploration successes, continued availability ofcapital and financing, and general economic, market or businessconditions. Investors are cautioned that any such statements are notguarantees of future performance and actual results or developmentsmay differ materially from those projected in the forward-lookingstatements. Forward-looking statements are based on the beliefs,estimates and opinions of the Company's management on the date thestatements are made. Except as required by applicable securities laws,the Company undertakes no obligation to update these forward-lookingstatements in the event that management's beliefs, estimates oropinions, or other factors, should change.
Neither the Canadian SecuritiesExchange nor its Regulation Services Provider (as that term is definedin the policies of the Canadian Securities Exchange) acceptsresponsibility for the adequacy or accuracy of this release. No stock exchange, securitiescommission or other regulatory authority has approved or disapprovedthe information contained herein.
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