NRRSF - Norsemont Provides Update on Choquelimpie Geological Campaign
(TheNewswire)
Vancouver, B.C. - TheNewswire - November 15 th , 2021 – Norsemont MiningInc. (CSE:NOM ) ( OTC:NRRSF ) ( FWB:LXZ1) (“ Norsemont ” or the “ Company ”) is pleased to share somepreliminary results from its ongoing geological, geochemical, andgeophysical exploration program at the historic Choquelimpiedeposit.
The geological team has generated preliminaryinterpretations based on systematic re-assaying of historic drill holesamples, geological relogging of historic diamond drill core, and thepreviously reported pole-dipole induced polarisation (PDIP) andmagneto-telluric (MT) geophysical survey by Southern RockGeophysics.
The re-assay program comprised 14,850 coarse reject andpulp samples from historic drill holes. The samples were sent to AndesAnalytical Laboratories in Santiago Chile, where they were analysedfor Au, Ag, Cu and 38 element ICP. Systematic QA/QC samples wereincluded. These samples represent approximately 16% of the totalsamples from the historic resource area and are being used to validatethe historic drilling results.
Norsemont geologists re-logged 6,346 metres of historicdiamond drill holes. They have created a new and evolving geologicalmodel and have prepared 10 geological cross-sections, that will beused to support the updated resource estimate being prepared by MineDevelopment Associates / RESPEC of Reno Nevada, USA.
The geophysical program consisted of eleven 250metre – spaced survey lines up to 2.6 kilometres in length. Everysecond line, for a total of 13.7 line-kilometres, was surveyed usingPDIP-MT, and five intervening lines were surveyed with MT only for atotal of 11.8 kilometres. The survey was completed in July and theresults and report delivered in August. Theinterpretation of the geophysical results is ongoing.
Core logging, surface mapping, and surface sampling isprogressing, with the objective of increasing our understanding of theChoquelimpie deposit, toward supporting an updated resource estimate,and identifying targets for confirmatory and exploratory diamonddrilling in the near-term.
The epithermal gold - silver mineralization atChoquelimpie occurs within a dacitic dome and diatreme complex in thecore of an eroded Miocene stratovolcano. Higher-grade mineralizationoccurs as structurally focused bodies of hydrothermal breccia that cutand mineralize earlier phreatic and phreatomagmatic breccias, within aWSW-ENE trending envelope containing the historic Vizcacha and Choquepits.
Historic gold assays were modelled using Leapfrog™software and show a good correlation with the breccia complex, whilehigher grades correlate with zones of hydrothermal breccia (see Figure1B). Mineralization remains open in numerous directions. Modellingsuggests mineralization occurs above a deeper IP chargeability feature(Figure 1C), which may reflect disseminated sulphides related to anunderlying porphyry system. Work is ongoing to determine the detailedcontrols on the epithermal mineralization, along with theidentification of exploration targets, and including the possibilityof an underlying porphyry system.
Figure 1: CHOQUELIMPIE LONG-SECTIONLOOKING SOUTHEAST through the historic Vizcacha and Choque pits.
Image A is a plan view showing the historic drillhole traces, Leapfrog™ interpreted grade shells in gold g/t, and thelimits of the sections shown in images B and C.
Image B is a section view showing the currenttopography, the historic drill hole traces and Leapfrog™ interpretedgrade shells in gold g/t. Note how the mineralization remains open innumerous directions.
Image C is a section showing the currenttopography, the historic drill hole traces, the Leapfrog™interpreted grade shells in gold g/t, and the 3D inversion model ofthe pole-dipole induced polarization chargeability response.
All field activities are strictly observing COVID-19protocols.
Norsemont’s VP Exploration John Currie states:“ Excellent progress is being made on severalfronts thanks to the efforts and dedication of our geological team,led by our Senior Geologists’ Claudio Burgoa and Jaime Diaz, withassistance from Julio Rivera, and with guidance from our ConsultingChief Geologist, David Hopper. This Team has decades of experienceexploring and evaluating similar epithermal and porphyry depositsthroughout the Andes. We are only just beginning to understand thisfascinating deposit and considerable work remains to be done to gaugeits full potential. However, what is already clear is thatmineralization remains open in many areas and we look forward to drilltesting it!”
Marc Levy, CEO of Norsemont said, “I am very impressed with theprogress being made by the geological team at Choquelimpie. Ourup-and-coming drill campaign is anticipated to validate our robustgeological model and the results are expected to direct futureexploration programs. Choquelimpie is an incredible project withtremendous upside. We are excited about the potential value this andfuture drill campaigns will create for our stakeholders.”
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 1,700 drill holes, with significant existinginfrastructure.
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
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 Company believes theexpectations expressed in such forward-looking statements are based onreasonable assumptions, such statements are not guarantees of futureperformance and actual results may differ materially from those in theforward-looking statements. Factors that could cause the actualresults to differ materially from those in forward-looking statementsinclude changes to commodity prices, mine and metallurgical recovery,operating and capital costs, foreign exchange rates, ability to obtainrequired permits on a timely basis, exploitation and explorationsuccesses, continued availability of capital and financing, andgeneral economic, market or business conditions. Investors arecautioned that any such statements are not guarantees of futureperformance and actual results or developments may differ materiallyfrom those projected in the forward-looking statements.Forward-looking statements are based on the beliefs, estimates andopinions of the Company's management on the date the statements aremade. Except as required by applicable securities laws, the Companyundertakes no obligation to update these forward-looking statements inthe event that management's beliefs, estimates or opinions, or otherfactors, 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 stockexchange, securities commission or other regulatory authority hasapproved or disapproved the information contained herein.
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