NRRSF - Norsemont to Commence Geophysics and Provides an Update on Progress at Its Choquelimpie Gold-Silver Project
(TheNewswire)
Vancouver, B.C. - TheNewswire- June 1 st , 2021 – Norsemont Mining Inc. (CSE:NOM ) ( OTC:NRRSF ) ( FWB:LXZ1) ( “ Norsemont ” or the “ Company ” ) is pleased to announce it iscommencing a geophysical survey and provides an update to itsshareholders on the Choquelimpie gold-silver Project (“the Project ”), located within the Province of Parinacota in Region XVof northern Chile. The former producing mine is located approximately115 kilometers east-northeast of the coastal city and port of Arica. Norsemont holds a 100% ownership interest in the Project, throughits wholly owned Chilean subsidiary Sociedad Contractual MineraVilacollo, (“ SCMVilacollo ”).
Despite challenging conditions due to Covid-19,Norsemont continues to make excellent progress across a number offronts and has made significant progress toward a drilling program, aswell as the pending issuance of its first official NI-43-101 resourceestimate.
The early focus on developing a comprehensive databasehas required the digitization and validation of extensive archivescontaining historic material and is on-going.
Field workers are strictly observing COVID-19protocols. In order to support a NI 43-101 Resource report in thecoming months, Norsemont has embarked on a major re-assaying program,to confirm historic data and provide additional quality assurance andcontrol. Samples have been taken from drill holes across the propertythat reflect different mineralized zones, oxidation states and mediatype (DDH core / RC cuttings). To date, roughly 9,500 of anestimated 16,000 samples have been submitted for re-analysis.
Norsemont has engaged SouthernRock Geophysics (“ SG ”) of Antofagasta, Chile tocomplete Induced Polarization/Resistivity (“ PDIP ”) and Magneto-Telluric(“ MT ”) geophysical surveys over the Project area. Thesurvey line plan considers eleven 250 meter-spaced survey lines up to2.6 km each, adjusted where necessary due to topographic relief andpermit areas. Every second line, for a total of 13.7 line-km, willbe acquired using PDIP-MT every 500 metres with five intervening lineswith MT only for 11.8 km. The anticipated date to mobilize crews tosite is June 5th, 2021. The objective of the survey is tocost-effectively characterize the mineral system in 3D and potentiallyidentify lateral and vertical extensions to current mineralized zones.
Meetings have been held virtually with multiplestakeholders including representatives from the Governors offices ofArica and Parinacota, Municipalities of Arica, Putre and Camarones;plus representatives from various government agencies - SEREMI(Regional Mines Ministry), SEA (Environmental Assessment), SERNAGEOMIN(Geology and Mining), SAG (Agriculture), CONAF (National Forest), DGA(Water) and local communities to ensure plans are communicated andfeedback provided ahead of any activities. This consultation willcontinue on a regular basis.
DAES Consultores, a leading firm in Environmental &Permitting matters in Chile, is developing strategies anddocumentation to support the 2021 technical program. Weatherstations are being re-established and water samples are systematicallybeing collected to provide seasonal baseline data. This important datacompilation provides the company with the basic information required,to meet the long lead environmental planning requirements in order tosupport future advanced work.
Marc Levy, CEO of Norsemont said, “Our team is on the ground andmaking solid progress and building momentum for our anticipateddrilling program, subject to permitting, and delivering our initial NI43-101 compliant resource.”
Norsemont’s VP Exploration in Chile, John Currie,states that; “Building a solid, transparent working relationshipwith all Government Agencies, Municipalities, Mines Ministries andlocal Indigenous Communities, is an essential part of our immediateand future plans for a harmonious and successful evaluation of thisprecious metals Project.”
The information in this press release has been reviewed and approvedby Mr. Art Freeze, P. Geo., and a Qualified Person for the technicalinformation under NI 43-101 standards.
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 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 statementsare not guarantees of future performance and actual results ordevelopments may differ materially from those projected in theforward-looking statements. Forward-looking statements are based onthe beliefs, estimates and opinions of the Company's management on thedate the statements are made. Except as required by applicablesecurities laws, the Company undertakes no obligation to update theseforward-looking statements in the event that management's beliefs,estimates or opinions, 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 stockexchange, securities commission or other regulatory authority hasapproved or disapproved the information contained herein.
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