(TheNewswire)
Vancouver, B.C., February, 9 th , 2022 – TheNewswire - NorsemontMining Inc. (CSE:NOM ) ( OTCQB:NRRSF ) ( FWB:LXZ1)( “ Norsemont ” or the “ Company ” ) is pleasedto provide an operational update and announce the first tranche ofresults from its maiden diamond drilling program at the company’s Choquelimpie high sulphidation epithermalgold-silver project in northern Chile.
Highlights:
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1.38 grams per tonne (“g/t”) gold(“Au”) over 93.0 metres (“m”) from surface including 2.01 g/tAu over 50.0m, 6.29 g/t Au over 12.0m, 10.22 g/t Au over 6.0m(MV21-002).
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3.63 g/t Au over 31.0m from surfaceincluding 6.07 g/t Au over 9.0m (MV21-004).
Two (2) drill rigs completed ten (10) diamond drillholes prior to the temporary suspension of the drilling operations dueto the early onset of the Altiplano winter. A total of 3,144.1 meterswere completed out of the initial 4,000 metre drill campaign (seeFigure 1).
Figure 1: Choquelimpie historic openpits and drill holes, with Norsemont’s 2021 DDH drill holelocations.
The first batch of analytical results for the program have beenreceived from Andes Analytical Laboratories and correspond to diamond drill holes MV21-002 and MV21-004. Thelocation of the drill holes and a table with a selection ofsignificant gold intercepts* is shown below in Figure 2.
* Significant gold intercepts arecore-length weighted rounded to two decimal places. True width isestimated between 75-95% of core length.
Figure 2: Close-up of the VizcachaPit at Choquelimpie showing Norsemont’s 2021 DDH drill holelocations and significant intercepts of gold mineralisation reportedin this news release.
Both drill holes were oriented to test for the presence of high-grademineralisation in hydrothermal breccia intercepted in historical holesand observed in the bottom of the Vizcacha Pit. Drill holes MV21-002and MV21-004 both intercepted multiple intervals of matrix and clastsupported hydrothermal breccia with intense advanced argillicalteration and widespread infill and disseminated pyrite and enargitemineralisation. A cross-section showing the intercepts and apreliminary interpretation of the geology is shown in Figure 3. Thediscontinuous nature of the breccia intervals in hole MV21-002suggests this hole skirted the edge of the main breccia body.
John Currie, Norsemont’s VP of Exploration states“ We are verypleased to have encountered high grade gold mineralisation at surfacefrom these first two diamond drill holes. The presence of high-gradezones was also indicated by re-assaying of historic core from theVizcacha Pit. These are excellent preliminary results in line with our expectations andwe look forward to sharing more results with the market as they arise.”
Figure 3: Cross-section A-A’through drill holes MV21-002 and MV21-004 showing reported significantgold intercepts and preliminary geological interpretation of thehydrothermal breccia bodies.
Marc Levy, CEO of Norsemont said, “The results from the Vizcacha Pit are very encouraging. We areexcited to report near-surface high-grade gold intercepts as well assignificant mineralisation that extends deeper than previous drillingin this area (to at least 189m at Vizcacha). This supports our thesisthat we are in a large, poorly-tested mineralised system. We arelooking forward to receiving the next set of assay results from ourdrilling program.”
Drill core for the Choquelimpie 2021 drill program is collecteddirectly from the drill site by SCM Vilacollo geologists andtechnicians and taken to the core shack at the Choquelimpie camp.Drill core is then logged, photographed and sampled by SCM Vilacollostaff who insert certified reference materials into the samplingsequence when/where appropriate. Sample lengths are marked at 1.0metre intervals and the core is cut by a diamond blade rock saw, withhalf 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 then sealed and placed insecurity-sealed sacks before delivery by SCM Vilacollo 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 >10 ppm gold from fire assay and AAS aredetermined by using fire assay and a gravimetric finish (lab codeAEF_GRV_1E43). Samples that return values >5,000 ppm for copper and>400 ppm silver by ICP analysis are determined by four aciddigestion AAS finish assay (lab codes 4A-HF_AAS_1E13_ppm and4A-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 1,700 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
Investor Relations
Paul Searle
Citygate Capital Corp
Phone: (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-looking statementsin the event that management's beliefs, estimates or opinions, orother 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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