Norsemont Mining Provides Constancia Project Update

4 metres at 5.29g/t gold, 3 metres at 13.72 g/t gold
12 metres at 1.14% CuEq

Share Issued and Outstanding: 80,428,189               
TSX: NOM
BVL: NOM

TORONTO, and Lima, Peru, Aug. 30 /CNW/ - Norsemont Mining Inc. ("the Company") (TSX: NOM, BVL: NOM) today announced the completion of the first phase exploration drilling at the Company's Chilloroya South discovery, located approx. 5 kilometres south of the Constancia deposit. Three drill targets were tested with 6,989 metres of drilling which has shown a high level of porphyry copper-gold mineralisation.

Of the three targets tested, one returned potentially economic intersects. Hole SO-10-006 reported an intercept of 12 metres (from 302 to 314 metres) with 0.74% Cu, 0.010% Mo and 0.49gpt Au, (1.14% CuEq), demonstrating high gold content in the copper mineralisation. Additionally, several high grade gold intercepts have been encountered in the current drilling program, including a 57.65 metre interval in hole SO-10-002 (from 00.00 to 57.65m depth) which averaged 0.60gpt Au, including a 4 metre interval from 16.00 to 20.00m depth averaging 5.29gpt Au, and a 3 metre interval at hole SR-10-006 (from 277 to 280 metres depth) which returned 13.72gpt Au. Drill results for the balance of the exploration drill holes did not return potentially economic intersects. The results of the Chilloroya South first phase drill program are currently being studied to determine the focus of further exploration drilling and shareholders will be updated in detail as soon as those studies have been completed.

The Company also announced that exploration drilling at the highly prospective Pampacancha discovery, located approx. 2.5 kilometres south-east of the Constancia deposit, has recommenced. Results from this program will be announced as soon as they are received.

Commenting, Norsemont President and COO Mr Baxter said: "Our exploration program is progressing well with the current emphasis now back to Pampacancha, which hosts shallow open-pittable mineralisation. Drilling at Chilloroya South has confirmed a very large porphyry style copper-gold system, which requires further expert analysis prior to further drilling. The high gold content of the copper mineralisation suggest the presence of a large tonnage target at depth which could be an attractive underground proposition."

Constancia Permitting

Norsemont is also pleased to report that the Company has received the official observations to the Constancia Environmental and Social Impact Assessment (ESIA) from Peru's Ministry of Energy and Mines (MINEM).  Together with its consultants Knight Piesold, Social Capital Group and Cesel, Norsemont is currently preparing responses to these observations.  The Company expects to receive final approval of the Constancia ESIA by October 2010. 

Constancia Optimisation Study

The Company is also pleased to report that the Constancia optimisation study is progressing well and delivery encouraging results.

Further interpretation of the Constancia work indices data suggests that mine throughput to the mill can be increased and that the mill configuration can be changed from a single large SAG mill with wrap-around motors to a dual mechanical SAG and two ball mill configuration, which will substantially reduce operational risks associated with a single wrap around motor. If confirmed, this indicates that production at Constancia could be maintained at 70,000 tonnes per day throughout the life mine life, thereby substantially increasing production from year six of the mine life and maintaining the higher production profile of the earlier years.

The Company has retained Ausenco Minerals and Metals to produce a feasibility study level optimisation report to improve throughput of the concentrator comminution circuit. The report is expected to be completed prior to the year end.

Commenting, Norsemont CEO Patrick Evans said: "We are pleased that the Constancia ESIA approval process and optimisation study are proceeding well. Approval of the ESIA and completion of the optimisation study will enable us to move forward with the development of Constancia, which is one of the premier copper development projects globally."

ABOUT NORSEMONT MINING - Norsemont is a mineral exploration and development company advancing the Constancia Copper project in Southern Peru. The Company's Constancia project is located in Cusco department, approximately 100 kilometres south of Cusco, Peru. A definitive feasibility study was completed in September 2009 confirming that Constancia is a robust, open-pittable deposit. The company's shares are traded on the Toronto Stock Exchange under the symbol NOM, and on the Bolsa de Valores, Lima (BVL) also under the symbol NOM.

The technical information provided in this news release was reviewed and approved by Robert. W. Baxter (MAusIMM), the President, COO and a director of the Company and a qualified person for the purposes of National Instrument 43-101.

SOURCE NORSEMONT MINING INC.

For further information: For further information:

Mr. Bob Baxter       
President and COO       
Norsemont Mining Inc      
Phone: 011- 51-1-99352-6473     

E-Mail: investors@norsemont.com
Web Site: www.norsemont.com

Organization Profile

NORSEMONT MINING INC.

More on this organization


Custom Packages

Browse our custom packages or build your own to meet your unique communications needs.

Start today.

CNW Membership

Fill out a CNW membership form or contact us at 1 (877) 269-7890

Learn about CNW services

Request more information about CNW products and services or call us at 1 (877) 269-7890