Norsemont Mining Inc.

Ich möchte hier mal wieder ein Unternehmen vorstellen.
Leider ist das mit diesem Editor gar nicht so einfach!
Wer Interesse hat ,kann von mir auch ein ordentlich formatiertes PDF
Dokument bekommen, mit einigen zusätzlichen Grafiken.
Diese konnte ich hier leider nicht abbilden...

Mein Fazit:
Ich stimme ja nur ungern den Bullvestoren zu aber dieser Wert gefällt mir auch sehr gut .
Norsemont ist ein Junior Explorer der in Peru tätig ist.

Im dortigen Constancia Projekt wird vorrangig nach Kupfer gesucht. Aber auch Silber und Gold
ist vorhanden.
Das Unternehmen hat 2005 schon einige äußerst viel versprechende Bohrergebnisse geliefert!
Die vermuteten/geschätzten  Kupfervorräte liegen bei ca. 8.8 Milliarden lbs. of Cu!
Diese vermuteten Ressourcen gilt es jetzt in 2006 nun nachzuweisen.
Eine Scoping Studie wird mit einer ersten Ressourcenschätzung soll im 2/3 Quartal fertig sein!
Nach all den bisherigen positiven Bohrergebnissen, halte ich die Wahrscheinlichkeit
für äußerst hoch, das diese erste Ressourcenschätzung auch sehr gut ausfallen wird!
Was mir weiterhin sehr gut an Norsemont gefällt, ist das sie sich auf ein oder zwei Projekte konzentrieren und diese kontinuierlich weiter entwickeln.Bis jetzt haben sie Ihre Ankündigungen immer eingehalten.

Auf mich macht das Unternehmen einen seriösen Eindruck.
Ich konnte jedenfalls kaum was negatives finden! Aber ich kann mich natürlich auch irren.
Die Homepage ist auch sehr informativ  und es werden eine Menge Infos bereitgestellt.
Ein weiterer Pluspunkt.

Im Januar wurde eine 14 Mio $ Finanzierung durch einen privaten Investor abgeschlossen.
Dadurch dürften mittelfristig keine Liquiditätsprobleme auftauchen.  
Die Bewertung von ca. 80 Mio C$ ist auch noch im Rahmen.
Da gibt es einige Unternehmen mit weitaus weniger Potenzial, die viel höher bewertet sind.

Mein Fazit lautet kaufen! Für mich ein klarer Kauf...

Unternehmen: Norsemont Mining Inc.


Überblick:                                                                                    

Kategorie:                               Explorer
Aktienkurs:                             3.35 C$ (1.3.06)        
Heimatbörse:                          TSXV 
Kürzel:                                   NOM
WKN:                                  A0DQKK
52-Wochen-Hoch/Tief:         0.70 / 6.65 C$
Aktienanzahl in Mio.             24,4
Marktkap. (Mio. CAD):      ca.81,74
Cash:                                  13,5 Mio $
Abbauland:                          Peru
Rohstoffart:                          Kupfer, Molybdenum, Gold, Silber
Internetadresse:                    http://www.norsemont.com/investors.php


Management Team

Marc Levy, President & CEO, Director
Mr. Levy has over 15 years of management and leadership experience in business. His dynamic personality, excellent communication skills and vision have contributed to his strong track record of success. He has held numerous management and senior management positions with both private and public companies. Most recently he was Director of Sales for IP Applications Corp. where he was responsible for increasing sales by over 500% and securing many of their largest contracts. Previously, he was Director of Sales at Look Communications (previously ID Internet Direct), where he oversaw the various sales channels. Joining Look when it had a market capitalization of approximately $20-million, he helped grow the company to a $1.5-billion market capitalization. As well, Mr. Levy has served as VP of Sales and Marketing for GAON Technologies BC and previously served as General Manager of a retail chain of computer stores.

 

Tony Ricci, (CA), CFO
Mr. Ricci is a chartered accountant with over 18 years of practice experience, mainly with public companies listed on Canadian and U.S. stock exchanges. His expertise involves auditing and corporate structure advice, including the structuring of subsidiaries in <?xml:namespace prefix = st1 ns = "urn:schemas-microsoft-com:office:smarttags" />Latin America. Mr. Ricci currently is the principal of Pacifica-Tech Capital and has his own accounting practice, primarily servicing public companies. Previously, he had worked as a manager with Amec Inc. (formerly H.A. Simons Ltd.) and KPMG as a senior accountant. He has also acted as a director of TSX Venture Exchange listed companies. The addition of Mr. Ricci to the team will provide Norsemont with extensive experience in the areas of Corporate Finance, acquisitions, financial reporting, corporate governance and accounting.

 

Art C. Freeze (P.Geo), Director
Mr. Freeze has over 35 years of experience as an exploration and production geologist. Mr. Freeze has extensive experience in mining development programs and evaluating projects for both major and junior resource companies. He has held consulting, supervising and managing positions with major and junior mining companies including; Cominco Ltd., Pasminco Exploration, Echo Bay Mines and the Pan American Silver Corporation. Geographically, he has extensive experience in Chile, Peru, Bolivia, Argentina, Mexico, the former Soviet Republics, the USA and Canada. Currently, he is the President of Stillwater Enterprises and most notably the primary Consulting Geologist for GoldCorp Inc.

 

Projects:

Constancia Project, Cuzco Peru (51%, max 70%;min 34%)

Kurzbeschreibung

• 70% option from Rio Tinto
• 5146 Ha property
• 6 billion lbs geological potential(geschätzt, noch nichts nachgewiesen) for copper,
   significant credits of molybdenum and gold

•Large Copper-Gold-Moly Porphyry/Skarn

•Un-audited resource estimate of 608 million tonnes grading 0.48% Cu, 0.05g/t Au,
               0.014% Mo, 3.4g/t Ag (0.3% Cu Cut-off)*

•Including 189 million tonnes 0.68% Cu, 0.05g/t Au, 0.021% Mo, 3.4 g/t Ag (0.5% Cut-off)

•Higher-grade Chalcocite Enrichment, and skarn zones•Excellent Access (Roads, Rail)

•Property-wide exploration targets Constancia

•Sparse vegetation, moderate relief

•Multiple access roads

•40 km from railway

•Year-round flowing streams nearby Project

The project is an enormous multi-billion pound copper target (along with credits of gold, silver and molybdenum) located 600 km southeast of Lima, Peru. Rio Tinto had joint ventured with Mistui to explore the property, but had judged the estimates to fall short of their objectives and were giving it a pass. Our geologists thought differently.

Rio Tinto worked on the Constancia Copper-Gold-Moly Project in 2004 under a Joint Venture with Mitsui. Previous drilling by Mitsui and Minera Livitaca/Minera Katanga included 48 drill holes (approximately 5,430-metres). Rio Tinto has completed 24 drill holes (7,843.9 metres), IP, ground magnetics, limited metallurgical test work and detailed geological mapping over the area. The recent drilling has broadly defined a large copper porphyry system with a shallow chalcocite enrichment zone, hypogene chalcopyrite and copper skarn mineralization. Best drill results include 168m @ 1.14% Cu, 0.11g/t Au, 8g/t Ag, 138ppm Mo, mostly as chalcocite enrichment. An aggressive exploration program is currently underway.

 

Entwicklungsstatus

•Local small scale copper-skarn mining from 1800’s to 1992

•1980’s: Mitsui -48 ddh

•1995: Mitsui –widespread Cu enrichment discovered

•2003: Consolidation of land by Rio Tinto (RTZ)

•2004: RTZ –24 ddh (7,844m)•2005: NOM options RTZ’s interestProject

•Disseminated Porphyry and skarn styles

•Hypogene ‘A-veinlet’cpy-py-mbd to 480m

•Py/cpy 1:1 to 2:1

•Massive sulphide skarn py-sph-gal-cpy-mbd•Supergene chalcocite to 260m, partial to 316m

•Leach cap to 100mGeology

 

 

2005 Norsemont Drilling Highlights Projects Constancia

Hole-id          Int.(m)            Cu(%)                        Au(g/t)           Ag(g/t)           Mo(%)            CuEQ           
C0-05-02       16.55              2.07                0.184              2.5                  0.010              2.26               
C0-05-05       110                 0.87                0.036              4.2                  0.011              1.00               
C0-05-06       58                   1.44                0.161              5.2                  0.008              1.73
C0-05-07       30                   1.08                0.085              3.8                  0.033              1.36
C0-05-10       166                 0.59                0.086              3.9                  0.011              0.74
C0-05-11       196                 0.88                0.072              6.8                  0.019              1.10
C0-05-13       164                 0.94                0.15                4.8                  0.009              1.13
C0-05-14       301                 0.77                0.056              4.5                  0.002              0.86
incl.                 62.6                1.26                0.038              4.5                  0.005              1.36
CO-05-16      118                 0.81               0.041              5.73                0.19                1.00

CO-05-18      118                 0.83                0.137              4.48                0.008              1.00

C0-05-20       50                   0.94                0.025              4.10                0.020              1.11
C0-05-21       40                   0.87                0.035              5.01                0.014              1.02

C0-05-25       58                   0.83                0.040              4.08                0.005              0.92

C0-05-27       118                 0.74                0.059              4.97                0.041              1.07

C0-05-28       22                   2.02                0.198              17.18              0.031              2.49

C0-05-29       58                   0.88                0.052              4.23                0.011              1.02

And                 120                 0.66                0.052              3.54                0.021              0.85

C0-05-32       166                 0.83                0.010              4.99                0.014              0.97

incl.                 8                     2.32                0.009              5.90                0.002              2.39

CO-05-34      62                   1.45                0.160              8.24                0.009              1.68

CO-05-35      181                 0,58                0,068              3.48                0.038              0.88

        

Projektanteile

The Company can acquire up to 70% of the Constancia Property, subject to approval of the TSX Ventureexchange. This includes an initial option to acquire an undivided 51% interest in the Constancia project bymaking property payments of U.S. $5,000,000, completing work expenditures of U.S. $7,800,000 andissuing 1,250,000 common shares of the Company (or cash in lieu of shares) over a period of nearly fiveyears, ending October 31, 2009. Upon exercise of the initial option, Rio Tinto has the right to claw back anundivided 17% interest, provided global reserve estimates contained in the property are not less than four

million tonnes of copper or better (i.e. 8.8 billion lbs. of Cu). If Rio Tinto does not exercise its claw back,the Company may acquire an additional 9% interest for U.S. $3,750,000 or an additional 19% interest forU.S. $8,000,000. An initial option payment of $ 100,000 USD has been paid to Rio Tinto on March 23,2005. A finder's fee was paid in connection with this transaction. On March 14, 2005 Tessa Consultants were contracted to complete a 43-101 Qualifying Report, which is available at www.sedar.com. TheCompany received approval for the transaction from the TSX-Venture Exchange on May 16, 2005.

 

The cash payment, share issuance and work expenditure schedule is as follows:

 

Option Exercise Schedule      IssueShares     MakeUS$         ExplorationExpenditures US $
On signing of LOI                                                              -              $10,000 (1)                         -

45 days following LOI                                       -               $90,000(1)                          -

April 20, 2005                                                     -               $150,000(1)                        -

June 30, 2005                                     250,000(2)                    -                                    -

October 20, 2005                                                               -               $200,000(1)                        $500,000

April 20, 2006                                                     -               $250,000                             $500,000

June 30, 2006                                    250,000                        -                                      -

October 20, 2006                                                               -               $300,000                             $500,000

April 20, 2007                                                     -              $400,000                             -

June 30, 2007                                      250,000                                     -                                        -

October 20, 2007                                                               -              $500,000                             $1,300,000

April 30, 2008                                                     -              $500,000                             $1,000,000

June 30, 2008                                      250,000                      -                                         -

October 31, 2008                                                               -               $750,000                             $1,500,000

October 20, 2009                                250,000                               $1,850,000                         $2,500,000
Total                                                     1,250,000             $5,000,000                          $7,800,000

 

(1) Amounts paid

(2) Shares issued on July 12, 2005

 

Produktionsbeginn

                   Geschätzt von mir 2008

 

Infrastrucktur:
 Strasse/Bahn:           (mir) unbekannt
  Strom:                      (mir) unbekannt

 

Amata property, Peru (100%)

Kurzbeschreibung

•10,300 hectares Silver-Gold-Copper high sulphidation epithermal system

•Located 50 kilometers North East of Arequipa

•15 drill holes completed by RTZ for a total of 6,150m

•Norsemont believes there is potential to expand the zones of mineralization and identify additional
              zones of   high-grade precious metals in the epithermal lithocap or copper in the underlying porphyry.

 

After a successful partnership through the Con-stancia project, Rio Tinto was confident enough with our geological expertise and business acumen to allow us to acquire 100% of the Amata Project, a major high grade silver-gold-copper property in southern Peru. In fact, Amata is an immense series of thirteen mineral properties spanning 10,300 hectares. Our ability to pinpoint likely high grade targets and mobilize quickly to get drilling underway has gone a long way in putting us at the forefront of reviewing world-class opportunities. Acquiring control of this project from one of the world?s largest mining companies is another example of the industry?s respect for our know-how and determination.

The Amata Project is located 50km northeast of Arequipa city in the Coalaque district in the department of Moquegua, Peru. It is located at UTM coordinates 278000mE 8169000mN (Zone 19 S, datum WGS 84). The project area contains the Amata high sulphidation epithermal system and associated porphyries located between 3900m - 4700m altitude in the Cordillera of southern Peru.

 

Entwicklungsstatus

In 2001, Rio Tinto Exploration (RTE) secured 100% mineral rights over the prospect area which totalled 10,300 hectares and commenced exploration in the same year. Detailed geological mapping, systematic rock chip sampling and ground magnetics identified a large 10 x 4 km area of high sulphidation epithermal alteration with underlying porphyry type intrusives. A total of 2272 rock, 19 stream sediment and 10 rock float samples (excluding quality control samples) were collected in the project area. High Ag, Mo, Cu, Au and Hg values in rock samples helped identify at least six different drill targets (Cerro Amata, Tincacocha, Cayrane, Tacune, Trinchera and Palcamayo). The first round of drilling began in December 2002 with 9 recconaissance diamond holes totalling 3,866m drilled within the six target areas.

After a small CSAMT survey and further geochemistry, a second round of drilling began in September 2003 with 6 holes totalling 2,291m drilled, including 1,512m RC and 779m as diamond tails to these RC holes.

Not all targets have been tested within the prospect area and some of the targets have only been tested with very wide spaced drill holes. There are significant chances of identifying more mineralisation and zones of high grade precious metals in the epithermal lithocap or copper in the underlying porphyry.

 

Drilling Highlights
Of the six targets drilled three (Cerro Amata AM, Tincacocha TQ and Tacune TN) contain
the most encouraging drill results, including:

AM-01 :
317.80m @ 31.7 g/t Ag, 0.11 g/t Au
Includes:
41.95m @ 61.3 g/t Ag, 0.24 g/t Au
48.10m @ 36.2 g/t Ag, 0.28 g/t Au
AM-02 :
100.25m @ 1.11% Cu, 0.16 g/t Au ,19.55 g/t Ag
AM-03 :
2m @ 3.08% Cu, 12.85 g/t Ag
2.35m @ 0.80% Cu, 22.5 g/t Ag
AM-04 :
118m @ 0.11 % Cu, 13.08 g/t Ag
Includes: 4m @ 52.45 g/t Ag
AM-05 :
2m @ 783 g/t Ag, 0.14% Cu
TQ-02 :
25 m @ 2.76 % Cu, 0.43 g/t Au, 49 g/t Ag
TN-03 :
64m @ 0.33 % Cu

Projektanteile

On September 5, 2005, the Company signed a letter agreement with Rio Tinto Mining and Exploration Ltd. Whereby the Company acquired a 100% interest in 13 mineral properties known as the Amata Project in southern Peru plus property studies for a total consideration of US $80,000 which was paid as of June 30, 2005.

Produktionsbeginn

                   Nicht abzusehen

Infrastrucktur:
 Strasse/Bahn:           (mir) unbekannt
  Strom:                      (mir) unbekannt

 

Anzahl Reserver & Ressourcen’
              

Measured und Indicated:          unbekannt
            Inferred:                                  unbekannt

            Noch gibt es keine eigenen Ressourcen oder Reservenschätzungen
            Ich rechne mit ersten Ressourcenschätzungen im zweiten oder dritten Quartal (2006)

Kapitalmaßnahmen (ab 2006)

         Private Placement:  

Datum: 19 Februar 2006
            Einnahmen: 14,4 Mio C$
            Kurs: 4,00
            Stück: 3,500,000 

Warrents: 1,750,000 zu 4,75 C$ innerhalb 2 Jahre
            Bemerkungen:
http://infoventure.tsx.com/TSXVenture/TSXVentureHttpController?GetPage=NoticesContents&PO_ID=27996&NOTICE_ID=110969&CORRECTION_FLG=N&HC_FLAG1=checked    

 

Options:

Datum: 18 Januar  2006
            ausführbar zu: 4,00
            ausfürbar bis: innerhalb der nächsten 5 Jahre

Stück: 400.000

Bemerkungen: für certain employees, directors and consultants

            http://www.norsemont.com/news.php?id=46&action=fullnews

 

Share Capital

Issued and outstanding:                                    24.4 Mio Shares
Fully Diluted                                                    29.6 Million
Working Capital                                              $ 13.5 Million
Fully Diluted Working Capital                          $ 27.1 Million
Management Position                                      16%
Fully Diluted Management Position                  27%

 

(a) Authorized

Unlimited number common shares without par value (2004: 100,000,000)

(b) Issued and outstanding:

                                                       Price perShare   Number of Shares       Amount          

Balance, June 30, 2005                                                19,120,125                   $ 10,893,340

Issued on exercise of options                 $0.19                36,000                          6,840

Issued on exercise of options                 $0.26                6,500                           1,690

Issued on exercise of warrants               $0.30                307,500                        92,250

Issued on exercise of warrants               $0.35                344,150                        120,463

Issued on exercise of options                 $0.80                5,000                           4,000

Share issuance Constancia                   $0.91                250,000                        227,500

Issued on exercise of options                 $1.00                6,250                           6,250

Issued on exercise of options                 $1.06                12,500                          13,250

Issued on exercise of warrants               $1.10                749,190                        824,109

.

Balance, Dec 31, 2005                                                20,837,215                   $12,189,692

 

Outstanding share purchase warrants at Dec. 31, 2005 were as follows:

 

Geschäftsberichte

             Jahresbericht 2005:
            http://www.norsemont.com/lib/dat/financials/...ncial%20Statements.pdf

           

            Quartalsberichte 2005:
            3rd Quarter 
            http://www.norsemont.com/lib/dat/financials/...ncial%20Statements.pdf

            2rd Quarter 
            http://www.norsemont.com/lib/dat/financials/...ncial%20Statements.pdf

            1st Quarter 
            http://www.norsemont.com/lib/dat/financials/...ncial%20Statements.pdf

 

Ausblick

 

- new resource study and coincident metallurgical studies sollen im ersten Quartal 2006 kommen!
 - in den nächsten Monaten weitere Bohrergebnisse von Constanicia
- plans to perform a trenching and drilling program in the Amata Claim  to assess the  
  property in 2006.

Finanzbedarf

            Durch das letzte private Placement von 14 Mio $ erwarte ich für dieses Jahr mit keiner weiteren
            Maßnahmen.
            Ich rechne mit einen Finanzbedarf von 5-6 Mio $ im Jahr 2006.

 

Shortpositionen

 

Date:15.02.06

NORSEMONT MINING INC ("NOM-V;NOMFF-0")

- Short Positions on 2006/02/15       4,000           0      3.65

 

Net       Total     Last        Total       Price

Date         Change     Shorted    Price       Volume       Range

--------------------------------------------------

2006/02/15            0       4,000     3.65      689,621    3.55 - 4.50

2006/01/31       -3,100       4,000     4.60    1,513,028    3.90 - 4.60

2006/01/15        1,600       7,100     3.85*     782,224    3.64 - 4.00

2005/12/31        1,500       5,500     3.86*   1,348,125    3.35 - 3.98

2005/12/15            0       4,000     3.12      673,971    3.03 - 3.37

2005/11/30       -6,200       4,000     3.08      679,999    3.00 - 3.70

2005/11/15       -2,500      10,200     3.23    1,028,462    3.02 - 3.57

2005/10/31      -38,300      12,700     3.20      839,940    3.20 - 3.93

 

* - Indicates that the closing price used is the last non-zero

closing price and is not the closing price on the report date.

 

 

 

NEWS

 

Norsemont closes private placement with the Sentient Group

Friday January 20, 6:30 am ET

 

VANCOUVER, Jan. 20 /CNW/ - Norsemont Mining Inc. ("Norsemont") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045) is very pleased to announce it has now closed the previously announced private placement with Sentient Group for the sale of 3,500,000 Units of the Company at $4.00 per unit for gross proceeds of $14million. Each unit consists of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share for two years at a price of $4.75 per share. The warrants have an "accelerator" provision such that if the closing price of Norsemont's common shares is $6.00 or higher for 10 consecutive trading days at any time after the closing date, Norsemont may, by issuance of a press release and written notice to the holders, give notice of "acceleration" of the warrant expiry date to the day which is 20 calendar days following the date of issuance of the press release and notice.

 

ADVERTISEMENT

           

Norsemont President & CEO, Marc E. Levy said: " We are pleased to have finalized our Private Placement with The Sentient Group. We expect to close on an additional $2,000,000 within the next two weeks. This significant investment in our company reaffirms the value of our properties and their future potential. We look forward to continuing to expand the extent of mineralization, as well as completing a revised, 43-101 compliant resource estimate at our Constancia Copper-Gold-Silver-Moly Property, and to initiate an aggressive exploration program at our Amata gold-silver-copper Property."

 

The financing proceeds will be used to fund through completion a resource estimation at Constancia, to initiate an exploration and drilling program on Amata, and for general working capital.

 

A commission consisting of cash and agents warrants will be paid to Allied Capital Corporation, a limited market dealer. The shares, warrants, agents warrants and any shares issued upon exercise of the warrants and agents warrants, are subject to a hold period expiring May 20, 2006.

 

Norsemont Mining is a well-structured and financed exploration company working in the America's, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.

01/18/06
NORSEMONT MINING INCREASES FINANCING

Norsemont Mining Inc. (“Norsemont”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045) is very pleased to announce it has secured a non-brokered private placement of $14,000,000 with institutional investor The Sentient Group. The company is concurrently finalizing an additional financing of up to $2,000,000 from insiders, associates and institutional investors.

The private placement was first announced in Stockwatch on December 18, 2005. The amended terms are that Norsemont will issue up to 4,000,000 units at a price of $4.00 per unit. Each unit will consist of one common share and one-half of one common share purchase warrant, with each whole warrant entitling the holder to purchase one additional common share for two years at a price of $4.75 per share. The Warrants will have an "accelerator" provision such that if the closing price of Norsemont's common shares is $6.00 or higher for 10 consecutive trading days at any time after the closing date, Norsemont may, by issuance of a press release and written notice to the holders, give notice of “acceleration” of the warrant expiry date to the day which is 20 calendar days following the date of issuance of the press release.

The Sentient Group of funds will be subscribing for a total of 3,500,000 units of the private placement for a total of $14,000,000. This transaction is expected to close within 3 days subject to final Exchange acceptance.

Norsemont President & CEO, Marc E. Levy said: "We're delighted that a quality investor such as The Sentient Group has recognized the value of our asset at Constancia. Sentient is an exceptional group for us to partner with and they are determined to see our Constancia project move towards production. This is a considerable milestone for Norsemont to have achieved in less than twelve months since optioning the Constancia property from Rio Tinto. We are proud to attract such an outstanding financial partner to help in developing a first-class project such as Constancia. The Sentient Group has a long term approach to investing, is actively involved and able to provide strategic and long term planning advice. Their extensive experience in mining will provide Norsemont with additional resources to ensure our success.”

Norsemont is pleased to have attracted multiple suitors who were prepared to fund the company. After completing a detailed review of the two main offers the board decided to accept a significantly larger offer at a marginally reduced price so that it will have sufficient funds to ensure the execution of its plans for Constancia and Amata. Although the placement with Sentient Group was discounted slightly when compared to the other offer, yet still above the existing market, the Board decided to go with Sentient for a number of reasons, including a 40% increase in the size of the offer, a reduction to a ½ warrant , an expedient closing and their long term strategic approach.


The financing proceeds will be used to fund the company’s anticipated work programs on the Constancia project and Amata project, for investigation of asset acquisition activities and general working capital. A finder's fee will be payable on all or a portion of the private placement according to the TSX Venture Exchange policies including a fee payable to Allied Capital Corporation.

Securities issued pursuant to the private placement will be subject to a four-month hold. The private placement is subject to acceptance for filing by the TSX Venture Exchange.
As well, Norsemont Mining Inc. has granted 400,000 incentive stock options to certain employees, directors and consultants, exercisable at $4.00 per share. The options are exercisable for a period of five years from the date of grant in accordance with the terms of the company's plan. The grant is subject to the policies of the TSX Venture Exchange.
The Sentient Global Resources Fund is a 10-year closed-end private equity fund based in the Cayman Islands, investing principally in the development of natural resource based projects. The Fund consists of a Limited Partnership and a parallel Australian Trust, which invest pro-rata in the Fund’s investments.
The Fund’s sponsors are CDP Capital, Babcock & Brown and HypoVereinsbank. The Fund’s investors range from government pension plans, corporate pension funds, institutional investors and industry participants. The global spread of investors from the USA, Canada, Germany and Australia complements its global mandate. For more information visit their web site at www.thesentientgroup.com
Norsemont Mining is a well-structured and financed exploration company working in the America’s, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.

Marc E. Levy,
Director & President

Contact: 604-669-9788

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. We seek Safe Harbor.

 

 

01/17/06
NORSEMONT EXTENDS MINERALIZATION AND REPORTS HIGHEST GRADE INTERCEPT TO DATE AT SAN JOSE ZONE, CONSTANCIA PROJECT

Norsemont Mining Inc. (“Norsemont” or “the Company”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045 ) is pleased to announce that encouraging results have been received from three additional holes targeting both the Constancia and San Jose Zones at the Constancia Copper-Molybdenum-Gold-Silver Porphyry Project in southern Peru.

Highlights include:

• Hole CO-05-32: 166.00 meters of 0.83% Copper (0.97% CuEQ1)
• Hole CO-05-34: 62.00 meters of 1.45% Copper (1.68% CuEQ1)
• Hole CO-05-35: 180.90 meters of 0.58% Copper (0.88% CuEQ1)

All three holes are on the fringes of previous drilling at Constancia, thus adding significantly to the known extent of mineralization.

“Hole CO-05-34 encountered 62 meters of 1.45% Cu, the highest grades received to-date within the San Jose Zone, located near surface” said Marc E. Levy, President and CEO of Norsemont Mining Inc. “Additionally, step out Hole CO-05-35 encountered the highest molybdenum values yet observed on the property, intersecting 16 meters of 0.60% Cu and 0.071% Mo and 82 meters of 0.59% Cu and 0.054% Mo. The hole terminated in strong mineralization at 296 meters due to caving. Step out Hole CO-05-32 and CO-05-35 suggest that the Constancia Zone remains open for expansion to the south and to the west.” To-date, 41 drill holes have been completed by Norsemont at the Constancia Project totalling 9,790 meters.


TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT
HOLE# INT.(m) Cu% Mo% Au(g/t) Ag (g/t) CuEQ
05-32 166 0.83 .014 .010 4.99 0.97
incl. 8 2.32 .002 .009 5.90 2.39
140 0.80 .015 .008 5.01 0.94
8 0.38 .010 .021 4.38 0.49
10 .48 .011 .026 4.50 0.61
05-34 62 1.45 .009 .160 8.24 1.68
05-35 180 0.58 .038 .068 3.48 0.88
incl. 28 0.55 .013 .038 5.30 0.70
incl. 14 0.66 .013 .081 4.30 0.83
incl. 40 0.55 .020 .140 2.15 0.77
incl. 16 0.60 .071 .087 2.70 1.10
incl. 82 0.59 .054 .038 3.49 0.97

Note 1: Copper equivalent Values (CuEQ) are estimated using long-term metal prices including: Copper US$1.00 per lb, Molybdenum US$6.00 per lb, Silver US$6.50 per oz., and Gold US$400 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for gold, copper and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ equals Cu per cent plus (Au grams per tonne times 12.86/22.05) plus (Mo percent times 132.28/22.05) plus (Ag grams per tonne times 0.21/22.05).

The San Jose Zone at the Constancia project is believed to be the faulted extension of the main Constancia Zone to the east. Hole CO-05-34, one of five holes completed during 2005 at the San Jose Zone, intersected the highest grades yet encountered. A near surface interval of 62 meters (16m – 78m) encountered 1.45% Cu in mixed skarn mineralization and chalcocite-bearing monzonite. Continued drill testing the near surface potential of the San Jose Zone will be a high priority in early 2006.

Holes CO-05-32 and 35 are 100 meter step-out holes collared within the Southern Fracture System, the thickest and generally highest grade portion of the main Constancia Zone. CO-05-32 tested the southeastern portion of the Fracture Zone, angled to the northwest. Hole CO-05-32 encountered a skarn contact with mineralized monzonite intersecting 140 meters (100 meters - 240meters) of 0.8% Cu and 0.015% Mo. The interval overlaps mineralized skarn rocks and secondary chalcocite in the monzonite. This intercept has excellent continuity with nearby holes, collectively suggesting that the Constancia zone remains open for expansion to the south. CO-05-35 has extended the Southern Fracture System to the west, encountering 180.9 meters of 0.58% Cu and with 0.038% Mo in five zones. These zones start at the surface and continue to the bottom of the drill hole. This 100 meter step-out hole intersected the strongest molybdenum values yet encountered on the property. Furthermore, the Constancia zone remains open to the west and at depth in this region, since the hole was lost within strong mineralization due to poor down-hole ground conditions.

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P. Geo., Norsemont’s Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Robert McLeod, P. Geo., Norsemont’s Consulting Geologist and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.

A plan map with drill hole locations will be available shortly on Norsemont’s website at www.norsemont.com

Norsemont Mining is a well-structured and financed exploration company working in the America’s, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.

Marc E. Levy
Director & President


Phone: 604-669-9788
Fax: 604-669-9768
E-Mail: investors@norsemont.com
www.norsemont.com

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. We seek Safe Harbor.

 

 

 

 

 

 

12/21/05
STEP OUT DRILLING WITHIN THE SAN JOSE ZONE YIELDS ADDITIONAL MINERALIZATION AT CONSTANCIA PROJECT

STEP OUT DRILLING WITHIN THE SAN JOSE ZONE YIELDS ADDITIONAL MINERALIZATION AT CONSTANCIA PROJECT

Norsemont Mining Inc. (“Norsemont” or “the Company”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045 ) is pleased to announce that favourable results have been received from the initial three drill holes within the San Jose Zone at the Constancia Copper-Gold-Silver-Molybdenum Porphyry Project in southern Peru.

Highlights include:
• Hole CO-05-31: 60m of 0.82% Copper (0.97% CuEQ1)
• Hole CO-05-30: 36m of 0.71% Copper (0.88% CuEQ1)
• Hole CO-05-33: 44m of 0.42% Copper (0.60% CuEQ1)

“Norsemont is encouraged by the near-surface mineralization encountered at the San Jose Zone” said Marc E. Levy, President and CEO of Norsemont Mining Inc., “The zone is wide open along strike, and is likely the faulted extension of the Constancia Zone located to the east. The recently announced financing will allow for an extensive drill program at Constancia in 2006.”

TABLE 1 SAN JOSE ZONE COPPER INTERSECTIONS AT CONSTANCIA PROJECT
HOLE INT.(m) Cu% Mo% Au(g/t) Ag(g/t) CuEQ1
05-30 36.0 .71 .004 .190 3.65 0.88
05-31 60.0 .82 .012 .078 3.65 0.97
05-33 44.0 .42 .012 .107 4.82 0.60

Note 1: Copper equivalent Values (CuEQ) are estimated using long-term metal prices including: Copper US$1.00 per lb, Molybdenum US$6.00 per lb, Silver US$6.50 per oz., and Gold US$400 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for gold, copper and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ equals Cu per cent plus (Au grams per tonne times 12.86/22.05) plus (Mo percent times 132.28/22.05) plus (Ag grams per tonne times 0.21/22.05).


The San Jose Zone at the Constancia prospect is believed to be the faulted extension of the main Constancia Zone to the east. Historical work at the San Jose Zone in the 1990’s, included mapping, surface sampling and diamond drilling. This work was performed by Mitsui Mining, who were operating the nearby Katanga mine. An unknown amount of high grade copper was extracted from a small open pit, typified by a mixture of chalcopyrite and chalcocite in skarn and mineralized intrusive. The open pit is located in the geographic center of the known limits of the San Jose Zone. Mitsui drilled a series of short reverse circulation drill holes, encountering consistent thicknesses of strong copper mineralization. In 2004, Rio Tinto completed three holes near the open pit. The extent of mineralization at the San Jose Zone is not well understood due to poor exposure, however surface sampling and limited drilling suggest a width of 250 meters in the open pit area. Along strike, the zone is traceable in sparse leached outcrops for a length of nearly one kilometer in total, extending mainly to the north of the open pit.

As part of the current drilling program at Constancia, Norsemont completed five core holes in the San Jose Zone and has received results for the first three holes; CO-05-30, 31, and 33. These holes are oriented along an east-west section line, across the strike of the zone and spaced at 100 meter intervals. CO-05-30 contains an interval of 36 meters (30 m - 66m) of near surface skarn mineralization, averaging 0.71% Cu, 0.004% Mo, 0.19 g/t Au, and 3.65 g/t Ag. CO-05-31, located 100 meters to the west of CO-05-30, contains an interval of 60 meters (12 m - 72 m) of near surface mixed skarn chalcopyrite and chalcocite mineralization in intensely phyllic altered and brecciated monzonite averaging 0.82% Cu, 0.012% Mo, 0.078 g/t Au, and 3.65 g/t Ag. CO-05-33, located 100 meters to the west of CO-05-31, encountered 44 meters (84 m - 128 m) of mixed chalcopyrite and chalcocite in both skarn and monzonite, averaging 0.42% Cu, 0 .012% Mo, 0.107 g/t Au and 4.82 g/t Ag. The grades and thicknesses at the San Jose Zone encountered to-date are consistent with mineralization encountered at the north end of the offset Constancia Zone.

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont’s Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Robert McLeod, P. Geo., Norsemont’s Consulting Geologist and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.

A plan map with drill hole locations will be available on Norsemont’s website at www.norsemont.com

Norsemont Mining is a well-structured and financed exploration company working in the America’s, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo, Ag project, and commencing exploration at the Amata Ag-Au, Cu property acquired from Rio Tinto.


Marc E. Levy
Director & President


Phone: 604-669-9788
Fax: 604-669-9768
E-Mail: investors@norsemont.com
www.norsemont.com

12/20/05
NORSEMONT INTERSECTS BEST GRADES YET ENCOUNTERED AT CONSTANCIA

NORSEMONT INTERSECTS BEST GRADES YET ENCOUNTERED AT CONSTANCIA

Norsemont Mining Inc. (“Norsemont” or “the Company”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF; ISIN: CA6565291045 ) is pleased to announce that assay results for an additional four holes have been received from its Constancia Copper-Gold-Silver-Molybdenum Porphyry Project in southern Peru.

Highlights include:
• Hole CO-05-27: 118m of 0.74% Copper (1.07% CuEQ1)
• Hole CO-05-28: 22m of 2.02% Copper (2.49% CuEQ1)
• Hole CO-05-29: 58m of 0.88% Copper (1.02% CuEQ1)

“The southern portion of the main Constancia Zone exhibits near-surface, excellent copper, silver and molybdenum grades over wide intervals.” said Marc E. Levy, President and CEO of Norsemont Mining Inc., “Hole CO-05-28 encountered 22 meters of 2.02% Cu, 0.03% Mo, 198 ppb Au and 17.18 g/t Ag, the highest grades yet encountered on the project”. Future drilling will continue to step-out from this recent drilling to expand the deposit along strike.

TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT


Hole# INT.(m) Cu% Mo% Au(g/t) Ag(g/t) CuEQ1
05-26 No Significant Assays
05-27 118.00 0.74 .041 .059 4.97 1.07
incl. 54.00 1.05 .031 .084 6.07 1.35
05-28 22.00 2.02 .031 .198 17.18 2.49
05-29 58.00 0.88 .011 .052 4.23 1.02
and 120.00 0.66 .021 .052 3.54 0.85

Note 1: Copper equivalent Values (CuEQ) are estimated using long-term metal prices including: Copper US$1.00 per lb, Molybdenum US$6.00 per lb, Silver US$6.50 per oz., and Gold US$400 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for gold, copper and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ equals Cu per cent plus (Au grams per tonne times 12.86/22.05) plus (Mo percent times 132.28/22.05) plus (Ag grams per tonne times 0.21/22.05).


Results to-date in the Constancia Zone have identified two distinct corridors east-west trending structural corridors of high-grade mineralization within the extent of the open-ended mineralizing system. Additionally, excellent continuity of near-surface supergene-enriched copper mineralization at Constancia is unique for porphyry and skarn deposits in southern Peru, amenable to low-cost heap leach recoveries. Norsemont is initiating metallurgical testwork on samples representative of supergene material, as well as primary mineralization.





Norsemont’s ongoing drilling at the Constancia Zone is testing the northern and southern portions of known mineralization. Holes CO-05-27, 28 and 29 are located in the southern half of the Constancia Zone, and were drilled at the limits of known mineralization. CO-05-27 and 29 were drilled from the same platform and directed to the south at -60 and -80 degrees respectively. Strong chalcocite was encountered in both drill holes over significant core lengths, suggesting that the mineralizing system remains open. Hole CO-05-28, a 100 meter step-out hole in the south-central portion of the zone encountered strong mineralization, and suggests that the zone remains open to the south. Hole CO-05-26 was collared in the extreme northeast corner of the deposit, and did not encounter significant mineralization.

Norsemont’s expanded program has completed over 9,000 meters of core drilling on the property to-date, with current drilling testing the San Jose Zone, located west of the main Constancia Zone. Management is encouraged by the results received to-date, suggesting that the deposit has excellent continuity of near-surface mineralization, and remains open to expansion in multiple directions and at depth. Norsemont expects to release additional assay results from the initial holes from the San Jose Zone shortly.

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont’s Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Robert McLeod, P. Geo., Norsemont’s Consulting Geologist and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.

A plan map with drill hole locations is available on Norsemont’s website at www.norsemont.com

Norsemont Mining is a well-structured and financed exploration company working in the America’s, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.


Marc E. Levy
Director & President

 

 

12/19/05
NORSEMONT MINING ARRANGES CDN$10,000,000 FINANCING

Siehe Meldung von 20.1.06!!

Norsemont Mining Arranges CDN$10,000,000 Financing

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Dec. 18, 2005) - Norsemont Mining Inc. ("Norsemont") (TSX VENTURE:NOM)(OTCBB:NOMFF)(FWB:N8S)(WKN:A0DQKK)(ISIN:CA6565291045)­ is pleased to announce it has arranged a non-brokered private placement of up to $10,012,500. Norsemont will issue up to 2,225,000 units at a price of $4.50 per unit. Each unit will consist of one common share and one common share purchase warrant whereby each whole warrant will be exercisable into one common share for two years from the date of closing at a price of $5.00 per share. The Warrant will have an "accelerator" provision such that if the closing price of Norsemont's common shares is $6.00 or higher for 10 consecutive trading days at any time after the closing date, the Issuer may, by issuance of a press release, give notice of "acceleration" of the warrant expiry date to the day which is 20 calendar days following the date of issuance of the press release.

The financing proceeds will be used to fund the company's anticipated work programs on the Constancia project and Amata project, for investigation of asset acquisition activities and general working capital. A finder's fee will be payable on all or a portion of the private placement according to the TSX Venture Exchange policies.

Securities issued pursuant to the private placement will be subject to a four-month hold. The private placement is subject to acceptance for filing by the TSX Venture Exchange.

Norsemont Mining is a well-structured and financed exploration company working in the America's, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.

We seek Safe Harbor.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.

CONTACT INFORMATION
Norsemont Mining Inc.

Aly B. Mawji
Director
(604) 669-9788
(604) 669-9768 (FAX)

 

 

12/14/05
NORSEMONT CONSTANCIA ZONE EXPANDED TO THE NORTH

NORSEMONT CONSTANCIA ZONE EXPANDED TO THE NORTH

Norsemont Mining Inc. (“Norsemont” or “the Company”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is pleased to announce that assay results for an additional seven holes have been received from its Constancia Copper-Gold-Silver-Molybdenum Porphyry Project in southern Peru.

Highlights include:
• Hole CO-05-20: 50m of 0.94% Copper (1.11% CuEQ1)
• Hole CO-05-21: 40m of 0.87% Copper (1.02% CuEQ1)
• Hole CO-05-25: 58m of 0.81% Copper (0.92% CuEQ1)

“These recent results continue to infill and expand the northern portion of the main Constancia Zone,” said Marc E. Levy, President and CEO of Norsemont Mining Inc., “hole C-05-39 is currently in progress testing the San Jose Zone located northwest of Constancia. Results from the southern portion of the Constancia Zone are to be announced shortly.”

TABLE 1 COPPER INTERSECTIONS AT CONSTANCIA PROJECT

Drill
HOLE# INT.(m)Cu(%) Mo Au Ag (%)CuEQ1
CO-05-19 No Significant Assays
CO-05-20 50.40 .94 .020 .025 4.10 1.11
CO-05-21 40.00 .87 .014 .035 5.01 1.02
CO-05-22 52.00 .41 .005 .053 10.0 0.56
CO-05-23 24.00 .55 .005 .035 6.62 0.66
CO-05-24 50.00 .55 .021 .034 6.60 0.76
CO-05-25 58.35 .83 .005 .040 4.08 0.92

Note 1: Copper equivalent Values (CuEQ) are estimated using long-term metal prices including: Copper US$1.00 per lb, Molybdenum US$6.00 per lb, Silver US$6.50 per oz., and Gold US$400 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for gold, copper and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ equals Cu per cent plus (Au grams per tonne times 12.86/22.05) plus (Mo percent times 132.28/22.05) plus (Ag grams per tonne times 0.21/22.05).

Norsemont’s ongoing drilling at the Constancia Zone is testing the northern and southern portions of known mineralization. Holes C-05-20 to 25 are located in the north part of the Zone, spaced on 100 meter centers with the objective to establish continuity of grade, as well as to expand mineralization along strike and at depth. These results suggest excellent continuity of supergene and hypogene copper mineralization, underneath a leached cap and results will be incorporated into a near-surface resource estimate for the Constancia Zone. Hole C-05-19 was drilled at the southwest corner of the Zone and encountered low grades, where interfingering of excellent and low copper grades define the margin of the deposit. Norsemont expects to release additional assay results from the southern portion of the Constancia Zone, as well as the initial holes from the San Jose Zone in the near future. Based on previously released results, the southern portion of the Constancia Zone exhibits the strongest copper mineralization over the widest intervals. Due to excessive workload at the analytical labs, assay results have been taking longer than expected.

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont’s Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Robert McLeod, P. Geo., Norsemont’s Consulting Geologist and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.

A plan map with drill hole collar locations is available on the Norsemont website at www.norsemont.com

Norsemont Mining is a well-structured and financed exploration company working in the America’s, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.


Marc E. Levy
Director & President

 

 

11/24/05
NORSEMONT UPDATES GOLD AND SILVER VALUES FROM CONSTANCIA

Norsemont Mining Inc. (“Norsemont” or “the Company”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is very pleased to announce that complete assay results have been received complementing the previously released copper and molybdenum values from the initial 12 diamond drill holes at its Constancia Copper-Gold-Silver-Molybdenum Porphyry Project in southern Peru. Complete assay results for holes 13 thru 18 were previously announced on November 9, 2005.

“The Company is pleased to release the complete assay results as well as the copper equivalent values” said Marc E. Levy, President and CEO of Norsemont Mining Inc., “The complete assays suggest economically significant quantities of gold and silver at Constancia, in addition to the previously released copper and molybdenum values. Of particular interest are the consistently high silver values. We are continuing with our aggressive drill program to infill and expand the limits of known mineralization and will release results from additional holes in the near future. ”

To date the Company has completed approximately 33 diamond drill holes in the 2005 program including 3 holes in the San Jose zone. Assay results on holes 19 to 33 will be announced as they are made available to the Company.

Hole#INT.(m)Cu% Mo% Au (g/t) Ag (g/t)CuEQ%
CO05-01 54 0.79 0.002 0.065 3.9 0.88
CO05-02 16 2.07 0.010 0.184 2.5 2.26
52 0.68 0.007 0.038 2.2 0.76
CO05-03 7 0.81 0.002 0.024 3.5 0.87
27 0.63 0.003 0.039 4.3 0.71
CO05-04 16 0.47 0.006 0.013 3.8 0.55

CO05-04 97 0.61 0.008 0.018 6.9 0.73
Incl. 68 0.73 0.009 0.015 3.4 0.82
CO05-05 12 0.55 0.001 0.054 3.4 0.62
Incl. 110 0.87 0.011 0.036 4.2 1.00
72 1.1 0.012 0.038 5.1 1.24
CO05-06 12 0.67 0.029 0.02 3.7 0.89
58 1.44 0.008 0.16 15.2 1.73 CO05-07 30 0.73 0.004 0.022 2.7 0.79
30 1.08 0.033 0.085 3.8 1.36
24 0.46 0.006 0.043 1.9 0.54 CO05-08 50 0.57 0.003 0.024 7.3 0.67
CO05-09 66 0.43 0.002 0.014 2 0.47
CO05-10 166 0.59 0.011 0.086 3.9 0.74
Incl. 114 0.69 0.014 0.115 4 0.88 CO05-11 196 0.88 0.019 0.072 6.8 1.10
Incl. 48 1.7 0.020 0.091 5.5 1.93
CO05-12 47 0.87 0.001 0.461 6.4 1.21
190 0.53 0.015 0.039 5.2 0.69

Note 1: Copper equivalent Values (CuEQ) are estimated using long-term metal prices including: Copper US$1.00 per lb, Molybdenum US$6.00 per lb, Silver US$6.50 per oz., and Gold US$400 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for gold, copper and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ equals Cu per cent plus Cu% + (Au gram per tonne times 12.86/22.05) plus (Mo percent times132.28/22.05) plus (Ag gram per tonne times *0.21/22.05).

Hole Locations are as follows:
Hole # East North Azimuth ANGLE
CO05-012 02100E 8300400N 0 -90
CO-05-02 202000E 8400000N 0 -90
CO-05-03 202000E 8399900N 0 -90
CO-05-04 202000E 8399800N 0 -90
CO-05-05 202000E 8399700N 0 -90
CO-05-06 201900E 8399700N 0 -90
CO-05-07 201900E 8339800N 0 -90
CO-05-08 201900E 8339900N 0 -90
CO-05-09 201900E 8400000N 0 -90
CO-05-10 202100E 8339900N 180 -80
CO-05-11 202100E 8399900N 225 -80
CO-05-12 202200E 8399900N 20 -80

Drilling cross-sections and plan view are available at www.Norsemont.com

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont’s Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Norsemont Mining is a well-structured and financed exploration company working in the America’s, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property.

Robert Mcleod, P. Geo., Advisory Board member of Norsemont and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.



Marc E. Levy
Director & President

 

 

11/10/05
NORSEMONT CONSTANCIA PROJECT YIELDS ITS WIDEST EVER INTERSECTION WITH 301 METERS 0.77% CU (INCLUDING 62.6M 1.26% CU) (PHOTOS)

Norsemont Mining Inc. (“Norsemont” or “the Company”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is very pleased to announce that assay results for an additional six holes have been received from its Constancia Copper-Gold-Silver-Molybdenum Porphyry Project in southern Peru.

Photos of the Constancia project are available at:

http://www.norsemont.com/properties.php?page=constancia&subpage=photos


Highlights include:
Hole CO-05-13: 164m of 0.94% Copper
(1.13% CuEQ1)
Hole CO-05-14: 301m of 0.77% Copper
(0.86% CuEQ1)
Hole CO-05-16: 118m of 0.81% Copper
(1.00% CuEQ1)
Hole CO-05-18: 118m of 0.83% Copper
(1.00% CuEQ1)

“In addition to exceptional grades, these results include our widest interval of mineralization yet encountered at Constancia.” said Marc E. Levy, President and CEO of Norsemont Mining Inc., “Hole CO-05-14 encountered over 300 meters of 0.86% copper equivalent (CuEQ1), including 0.77% Cu, 4.5 g/t Ag, 0.056 g/t Au and 0.002% Mo. We are continuing with our aggressive drill program to infill and expand the limits of known mineralization.”

TABLE 1
COPPER INTERSECTIONS AT CONSTANCIA PROJECT

Hole# From(m) To(m) INT.(m) Cu (%)CuEQ1

CO-05-13 92.00 256.00 164 0.94 1.13
Incl. 212.00 250.00 38 1.42 1.52
CO-05-14 22.00 323.00 301 0.77 0.86
Incl. 109.40 172.00 62.6 1.26 1.36

CO-05-15 4.00 22.00 18 0.49 0.71
Incl. 48.00 66.00 18 0.54 0.79

CO-05-16 25.65 60.00 34.35 1.01 1.27
Incl. 80.00 136.00 56 0.63 0.86
Incl. 172.00 290.00 118 0.81 1.00

CO-05-17 NO SIGNIFICANT ASSAYS
CO-05-18 22.00 140.00 118 0.83 1.00
Incl. 146.00 156.00 10 1.23 1.34
Incl. 176.90 232.00 55.1 0.93 1.02

Note 1: Copper equivalent Values (CuEQ) are estimated using long-term metal prices including: Copper US$1.00 per lb, Molybdenum US$6.00 per lb, Silver US$6.50 per oz., and Gold US$400 per oz. Adjustment factors to account for differences in relative metallurgical recoveries for gold, copper and molybdenum will depend upon the completion of definitive metallurgical testing. CuEQ equals Cu per cent plus (Au grams per tonne times 12.86/22.05) plus (Mo percent times 132.28/22.05) plus (Ag grams per tonne times 0.21/22.05).

TABLE 2 DRILL HOLE COLLAR COORDINATES
Hole # East North Azimuth Dip
CO-05-13 202100E 8400000N 225 -75
CO-05-14 202200E 8399900N 160 -80
CO-05-15 201800E 8399700N 45 -80
CO-05-16 201800E 8399800N 100 -80
CO-05-17 202300E 8400000N 300 -75
CO-05-18 202100E 8399900N 315 -60

Recent drilling has encountered blind copper-molybdenum mineralization beneath the skarn and marble on the south end of the Constancia Zone. Drill holes CO-05-12, 14, 16, and 18 encountered excellent secondary chalcocite mineralization, as well as primary chalcopyrite, and occasionally primary bornite in the monzonite directly beneath the cap of skarn. Grades above 1% copper are common in the secondarily-enriched zones directly beneath skarn. More importantly, this Constancia Zone remains open for expansion to the southeast underlying shallow holes completed by previous operators, which were not drilled to sufficient depths to intersect the intensely mineralized skarn/intrusive contact.

Hole C0-05-15 was drilled down or alongside a post-mineral dyke, or possibly a pre-mineral sliver of weakly altered monzonite, with only limited copper mineralization (one 18 meter zone of 0.49% copper and 280 ppm Mo and another 18 meter zone of 0.54% copper and 340 ppm molybdenum). Hole CO-05-17 was drilled in a covered area to the east, but apparently in a lobe of relatively fresh rock between east-west trending extensively mineralized zones.

In addition to ongoing drilling at the Constancia Zone, Norsemont has commenced drilling at the highly prospective San Jose Zone. Drilling will test areas where shallow (<50 meters) drilling by previous operators encountered high grade copper values. The Company will also test prospective leached cap areas in the north San Jose Zone. Assay results on the recently completed holes will be released shortly.

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont’s Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Robert McLeod, P. Geo., Norsemont Consulting Geologist and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.

A plan map and cross-section with drill hole locations will be available shortly on the Norsemont website at www.norsemont.com

Norsemont Mining is a well-structured and financed exploration company working in the America’s, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property acquired from Rio Tinto.


Marc E. Levy
Director & President

 

 

11/02/05
NORSEMONT EXPANDS DRILL PROGRAM TO 8,000 METERS AND PLANS DRILLING OF HIGHLY PROSPECTIVE SAN JOSE ZONE

Norsemont Mining Inc. (“Norsemont” or “the Company”) (TSX–V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is very pleased to announce that the Company has expanded the current drill program at the Constancia project in Peru to 8,000 meters from the current 6,000 meter program. It is anticipated that the additional drilling will be completed prior to the end of 2005.

As part of this expanded program Norsemont has also decided to complete up to 5 holes in the San Jose Zone. The San Jose Zone, as defined by the geological mapping, geochemical sampling and trenching carried out by Norsemont, is approximately one kilometer long in a 350 degree orientation and up to 400 meters in width. The target area is centered on the San Jose Pit, partially mined in the 1990´s by Mitsui. The San Jose Zone may be the offset extension of the Constancia Zone to the east and south, as evidenced from Norsemont geological mapping. Historical shallow drilling by Mitsui intersected locally abundant 1% copper values as chalcocite and mixed chalcocite/chalcopyrite, at less than 50 meters in depth, in the open pit area.

In 2005, Norsemont trenched a copper indicative leached capped showing, approximately 500 meters north of the San Jose Pit along the trend of the San Jose Zone. This target will be one of the areas to be drill-tested.

Marc E. Levy, president and CEO, said: "We are well on our way to establishing a NI 43-101 compliant resource based on the positive results of our current drilling in the Constancia Zone. Our decision to expand the drill program is due to the positive results which continue to exceed our expectations and historical Rio Tinto drilling. We are excited about establishing a drill program in the highly prospective San Jose Zone which has the potential to add significant tonnage to the known copper mineralization at Constancia.”

To date, Norsemont has drilled 26 holes within the Constancia zone. Assay results on the recently completed holes are expected shortly.

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont’s Qualified Person as defined by NI 43-101. Dr. Henricksen has reviewed and approved information contained in this news release.


Marc E. Levy
Director & President

 

 

10/12/05
NORSEMONT CONTINUES TO INTERSECT HIGH GRADE INTERCEPTS INCLUDING 196M OF 0.88% CU (INCLUDING 48M 1.70% CU) AT CONSTANCIA PROJECT

VANCOUVER, Oct. 12, 2005 (Canada NewsWire via COMTEX) --

Norsemont Mining Inc. ("Norsemont" or "the Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is very pleased to announce that the Company continues to intersect significant copper mineralization in all 12 diamond drill holes at its Constancia Project in southern Peru.

The assay results from the two core drilling rigs currently working the project continue to confirm, and locally exceed, the results of the widely spaced drilling previously completed by Mitsui and Rio Tinto. Rio Tinto previously reported a historical unclassified resource in the Constancia porphyry copper system of 189 million tons of 0.68%t copper (0.5% copper cut-off) and 0.021% molybdenum, based on drilling in both the Constancia and San Jose zones. This resource estimate is historical in nature, has not been verified by our Qualified Person and therefore should not be relied upon.

Highlights include: - Hole CO-05-11: 196m of 0.88% Copper including 48m of 1.70% Copper - Hole CO-05-10: 166m of 0.59% Copper including 114m of 0.69% Copper - Hole CO-05-12: 47.25m of 0.87% Copper and 190m of 0.53% Copper

"The Company is very excited about these positive results which continue to exceed our expectations at Constancia" said Marc E. Levy, President and CEO of Norsemont Mining Inc., "Our current drilling confirms the historical Rio Tinto drilling and continues to exceed historical results in several areas. We continue to drill in the main Constancia zone with the goal to produce a new 43-101 compliant resource. Furthermore we look forward to the commencement of drilling in the highly prospective San Jose zone as well as at the newly acquired Amata project."

The 2005 exploration program to-date has concentrated on infill drilling at the Constancia zone, with the objective of completing a revised 43-101 compliant resource estimate of copper mineralization. Additional drilling this fall will target in the San Jose zone located west of the Constancia zone, where multiple shallow drill intercepts averaging over 1% Cu were completed by previous operators. A new trench excavated in early October located 500 meters north of the old San Jose pit encountered strong hematite oxidation with minor copper oxides, in a strongly altered porphyry. This suggests excellent potential for a significant new occurrence of chalcocite mineralization at depth in the San Jose North area below the leach cap.

The following table is a summary of the 2005 drilling program showing the significant intercepts with assays received to date from ALS Chemex in Lima. The drill hole locations are plotted a map which is available on the Company's web site. This map shows the near surface projection of greater than 0.5% copper, as determined from previous drilling, surface sampling, and the Norsemont's 2005 drilling:

    <<
    TABLE 1 BEST COPPER INTERSECTIONS AT CONSTANCIA PROJECT

    Drill     AZIMUTH   ANGLE   From   To (m)    INT.    Cu     Mo     Ag
    -----     -------   -----   ----   ------    ----    --     --     --
    Holes                       (m)              (m)     (%)    (%)    (g/t)
    -----                       ---              ---     ---    ---    -----
    CO-05-01            -90       80      134      54    0.79   0.002
    CO-05-02            -90    99.45      116   16.55    2.07   0.010
    CO-05-02                     126      178      52    0.68   0.007
    CO-05-03            -90   110.01   117.65    7.55    0.81   0.002
    CO-05-03                  158.65      186   27.35    0.63   0.003
    CO-05-04            -90       62       78      16    0.47   0.006
                               114.2      212    97.8    0.61   0.008
    Including                    116      184      68    0.73   0.009
    CO-05-05            -90        0       12      12    0.55   0.001
                                  50      160     110    0.87   0.011
    Including                     56      128      72    1.10   0.012
    CO-05-06            -90       56       68      12    0.67   0.029
    CO-05-06            -90      144      202      58    1.44   0.008
    CO-05-07            -90       64       94      30    0.73   0.004
                                 110      140      30    1.08   0.033
                                 148      172      24    0.46   0.006
    CO-05-08            -90       64      114      50    0.57   0.003    7.3
    CO-05-09            -90       76      142      66    0.43   0.002    2.0
    CO-05-10     180    -80       42      208     166    0.59   0.011    3.9
    Including                     42      156     114    0.69   0.014    4.0
    CO-05-11     225    -80       58      254     196    0.88   0.019    6.8
    Including                     72      120      48    1.70   0.020    5.5
    CO-05-12      20    -80        0    47.25   47.25    0.87   0.001    6.4
    CO-05-12                     128      318     190    0.53   0.015    5.2

The drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Norsemont's Qualified Person as defined by NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ASL Chemex Assay Labs in Lima, Peru. The program includes an extensive quality control program for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Art C. Freeze, P. Geo., Director of Norsemont and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.

A plan map and cross-section with drill hole locations will be available shortly on the Norsemont website at www.norsemont.com

Norsemont Mining is a well-structured and financed exploration company working in the America's, with a focus on Peru. The Company is currently drilling the Constancia Cu-Au-Mo project, and commencing exploration at the Amata Ag-Au property.

The TSX Venture Exchange has not reviewed and does not accept

responsibility for the adequacy or the accuracy of this release. We seek

Safe Harbor.

 

 

09/21/05
NORSEMONT ENCOUNTERS SEVERAL HIGH GRADE INTERCEPTS IN FIRST SEVEN HOLES AT CONSTANCIA COPPER-GOLD-MOLY PROJECT

Norsemont Mining Inc. ("Norsemont" or "The Company") (TSX-V: NOM; Frankfurt: N8S; WKN: A0DQKK; OTC-BB: NOMFF) is very pleased to announce significant copper mineralization has been encountered in the first seven diamond drill holes at its Constancia project located in Chumbivilcas province in Peru. The drilling thus far has confirmed and locally exceeded the wide-spaced drilling program previously completed by Rio Tinto and Mitsui and confirms the presence of a large Copper, Gold, and Molybdenum mineralized system.

Highlights include:
- Hole CO-05-01, which intersected 54m of 0.79% Copper
- Hole CO-05-02, which intersected 16.55m of 2.07% Copper and a further
52m of 0.68% Copper
- Hole CO-05-04, which intersected 97.8m of 0.61% Copper
- Hole CO-05-05, which intersected 110m of 0.87% Copper including 72m of
1.10% Copper
- Hole CO-05-06, which intersected 58m of 1.44% Copper
- Hole CO-05-07, which intersected 30m of 1.08% Copper.

Silver and Gold assay results are pending and will be released as they come available. The Company is particularly pleased with these very positive results and has immediately expanded the current 15 hole diamond drill program to 20 holes.

"We are extremely pleased with the thick, continuous and high-grade intercepts of copper generated in this phase of drilling. Our current copper and moly drill results on average, exceed those reported from the drilling program completed by Rio Tinto and confirm the presence of a robust, potentially low cost heap leachable mineralized system" said Marc E. Levy, President and CEO of Norsemont Mining Inc., "We are currently drilling holes No. 12 and No. 13, and we expect to release the next batch of results in the near future."

Secondary chalcocite and/or primary copper sulphide mineralization, in potentially commercial quantities, have been intersected within phyllically altered monzonite and skarn in each of the first eleven holes completed for Norsemont (Assay's are pending for the four other completed holes), including the two drill holes in progress. The overall thickness of the secondary chalcocite and primary copper sulfides, encountered during this phase of drilling, ranges from a thickness of 120 meters in hole CO-05-05 and down to a thickness of 34.9 meters in CO-05-03 (partially oxidized chalcocite blanket).

A summary of the significant intercepts from the current diamond drill program are as follows:

<<
Drill Holes From (m) To (m) INT. (m) Cu (%) Mo (%)
CO-05-01 80 134 54 0.79 0.002
CO-05-02 99.45 116 16.55 2.07 0.010
CO-05-02 126 178 52 0.68 0.007
CO-05-03 110.01 117.65 7.55 0.81 0.002
CO-05-03 158.65 186 27.35 0.63 0.003
CO-05-04 62 78 16 0.47 0.006
114.2 212 97.8 0.61 0.008
Including 116 184 68 0.73 0.009
CO-05-05 0 12 12 0.55 0.001
50 160 110 0.87 0.011
Including 56 128 72 1.10 0.012
CO-05-06 56 68 12 0.67 0.029
CO-05-06 144 202 58 1.44 0.008
CO-05-07 64 94 30 0.73 0.004
110 140 30 1.08 0.033
148 172 24 0.46 0.006

Note: All above holes are vertical.

Drill hole CO-05-05, at the south end of the 2005 drill area, contains an interval of 110 meters (50m - 160m) of 0.87% copper and 0.011% molybdenum within a mixture of chalcocite and primary copper sulfides in monzonite and skarn. This interval includes 72 meters (56m - 128m) of 1.1% copper and 0.012% molybdenum. Drill hole CO-05-01, at the north end of the 2005 drill area, contains 54 meters (80m - 134m) of 0.79% copper in chalcocite and 0.002% molybdenum beneath a leached cap of 80 meters. Hole CO-05-02, 300 meters south of CO-05-01, contains two significant chalcocite-bearing intervals, separated by 10 meters of oxidized and leached chalcocite blanket. The upper 16.55 meter interval (99.45m - 116m), contains 2.07% copper in chalcocite and 0.01% molybdenum beneath 99.45 meters of leached cap. The lower interval of 52 meters (126m - 178m) exhibits a grade of 0.68% copper in chalcocite and 0.007% molybdenum. The copper mineralization appears to be increasing in grade and thickness to the south.

The detailed drilling completed by Norsemont in 2005 has tested the chalcocite blanket and the primary copper sulfides of the Constancia zone for approximately 600 meters north-south. The 2005 surface geologic mapping and geochemical sampling, combined with Mitsui, Rio Tinto and Norsemont drilling, collectively suggest that the zone of secondary chalcocite and primary copper sulfides in the Constancia zone alone has dimensions north-south of over one kilometer and east-west dimensions ranging from 200 to over 800 meters. Higher grades and wider surface projections of the secondary chalcocite and primary copper sulfides seem to be associated with broad (200m - 400m wide) east-west trending fracture zones where they intersect a prominent north-south silicified zone, also several hundred meters in width. The average thickness of the partially eroded chalcocite blanket, as defined by Norsemont thus far in 2005, is in the range of 60 to 80 meters.

The Constancia Project is located between the Tintaya Mine of BHP Billiton and the Las Bambas copper project of Xstrata Resources. The principal purpose of this phase of drilling is provide sufficient data to produce a NI 43-101 Compliant Resource Estimate at the Constancia zone by infill and step-out drilling on 100 meter centres. This zone is only part of the large Constancia porphyry and skarn copper system, which also includes the San Jose zone one kilometre to the west. Rio Tinto previously reported an historical unclassified resource in the Constancia porphyry copper system of 189 million tonnes of 0.68% copper (0.5% copper cut-off) and 0.021% molybdenum (this resource has not been audited by NI 43-101 Standards and should therefore not be relied upon), based on the drilling of Rio Tinto and Mitsui, in both the Constancia zone and the San Jose zone. The 2005 drilling by Norsemont has to date suggested that the copper grades reported by Rio Tinto have been exceeded.

The initial drilling program and geological studies at the Constancia project are being supervised by Dr. Thomas A. Henricksen, P.Geo., Qualified Person as defined in NI 43-101. Core samples are cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ASL Chemex Assay Labs in Lima, Peru. The program includes extensive Quality Control for assaying which includes the systematic use of standards, blanks, and field duplicate samples. Secondary laboratories are also used for check assaying.

Art C. Freeze, P. Geo., Director of Norsemont and Qualified Person as defined by NI 43-101 has reviewed and approved information contained in this news release.

A plan map and cross-section with drill hole locations will be available shortly on the Norsemont website at www.norsemont.com

Marc E. Levy Director & President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. We seek Safe Harbor. >>

SOURCE: Norsemont Mining Inc.

 

 

09/19/05
NORSEMONT ANNOUNCES FURTHER DRILL DATA ON THE AMATA PROJECT OF 2M @ 783 G/T AG & 2M @ 3.08% CU & 41.95M @ 61.3 G/T AG, 0.24 G/T AU

Norsemont Mining Inc. ("Norsemont") (TSX-V: NOM; Frankfurt: A0DQKK) is pleased to announce further details on its recently acquired Amata Silver-Gold-Copper project from Rio Tinto Mining and Exploration Ltd. ("Rio Tinto") (NYSE: RTP) as previously announced on September 9, 2005. Norsemont has acquired a 100% interest in the Amata Project (10,300 hectares) located 50km NE of Arequipa City in southern Peru.

The Amata high sulphidation epithermal system and associated porphyries are located in the Cordillera of southern Peru. Sampling of 3,078 rock chip and grab samples include anomalies grading up to 2,400 g/t of silver and up to 7.2 g/t of gold, to values below detection.

In 2002 and 2003 Rio Tinto completed a two-staged drill program consisting of 15 widely-spaced holes (within 2km), of which the most encouraging results include:

Cerro Amata:
AM-01 : 317.80m @ 31.7 g/t Ag, 0.11 g/t Au

Includes: 41.95m @ 61.3 g/t Ag, 0.24 g/t Au
48.10m @ 36.7 g/t Ag, 0.28 g/t Au

AM-02 : 100.25m @ 1.11% Cu, 0.16 g/t Au ,19.55 g/t Ag

AM-03 : 2m @ 3.08% Cu, 12.85 g/t Ag
2.35m @ 0.80% Cu, 22.5 g/t Ag

AM-04 : 118m @ 0.11 % Cu, 13.08 g/t Ag

Includes: 4m @ 52.45 g/t Ag

AM-05 : 2m @ 783 g/t Ag, 0.14% Cu

Tincachoca:
TQ-02: 26.8 m @ 2.6% Cu, 0.42 g/t Au, 45 g/t Ag

Tacune:
TN-01: 22.2m @ 0.047% Mo, 0.01 g/t Au
13.75m @ 0.039% Mo, 0.03 g/t Au
TN-02: 3.95m @ 0.09% Mo
TN-03: 64m @ 0.33 % Cu

Based on alteration mapping and surface geochemistry, six principal targets have been identified (Cerro Amata, Tincachoca, Cayrane, Tacune, Trinchera and Palcamayo) that vary from about 15 hectares (500 m x 300 m) to 120 hectares (1.2 km x 1 km) in size. The Cerro Amata target contains a central diatreme breccia body that has a surface dimension of approximately 600 x 300 m. North of Palcamayo and the Apacheta (7th target) sector are yet to be explored. Norsemont believes there is potential to expand the zones of mineralization and identify additional zones of high grade precious metals in the epithermal lithocap or copper in the underlying porphyry.

The oldest rocks in the area correspond to rocks of the coastal batholith (544Ma) which are overlain by Yura group sediments. The prospect is situated within the volcanic complex of Cerro Blanco-Cerro Saltaoco in the Barroso group (Pleistocene) which border the batholith and overly the Yura group. The prospect was identified during the follow up of TM colour anomalies. The anomaly corresponded to a large volcanic complex with four volcanic edifices aligned NE-SW over an area of 10 x 4km. Yanacocha Au-Ag district (Yanacocha Mine in northern Peru) and Amata district are similar systems, showing characteristics of epithermal Au and Ag in the upper levels and underlying porphyry Cu. Both are upper Tertiary age deposits with similar structural controls.

Norsemont continues to make substantial progress with the 2005 drill program at its flagship Constancia project. Norsemont is also pleased to announce it has acquired additional data with regards to the previous drilling Mitsui conducted in the San Jose high grade zone. To date, ten diamond drill holes have been completed. Core samples have been sent to the ALS Chemex laboratory in Lima, Peru, for analysis, and results will be released as they are made available and reviewed by Norsemont's geological team.

Information contained in this release has been reviewed by Dr. Thomas Henricksen P. Geo., Norsemont's Consulting Geologist and Qualified Person as defined by NI 43-101.

Marc E. Levy Director & President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. We seek Safe Harbor.

SOURCE: Norsemont Mining Inc.

 

 

09/08/05
NORSEMONT ACQUIRES HIGH GRADE SILVER-GOLD-COPPER PROJECT FROM RIO TINTO

Norsemont Mining Inc. ("Norsemont") (TSX-V: NOM & OTCBB: NOMFF) is pleased to announce that it has signed a Letter Agreement with Rio Tinto Mining and Exploration Ltd. ("Rio Tinto") (NYSE: RTP) whereby Norsemont has acquired a 100% interest in 13 mineral properties known as the Amata Project in southern Peru, subject to approval by the TSX Venture Exchange.

The Amata Project consists of 10,300 hectares and is located 50 km northeast of Arequipa City in the Coalaque district in the department of Moquegua, Peru. The project area contains the Amata high sulphidation epithermal system and associated porphyries located in the Cordillera of southern Peru. Sampling of 3,078 rock chip and grab samples include anomalies grading up to 2,400 g/t of silver and up to 7.2 g/t of gold, to values below detection.

In 2002 and 2003 Rio Tinto completed a two-staged drill program consisting of 15 widely-spaced holes (within 2km), of which the most encouraging results include:

Cerro Amata: AM-01: 317.80 m @ 31.7 g/t Ag, 0.11 g/t Au AM-02: 100.25 m @ 1.11% Cu, 0.16 g/t Au, 19.55 g/t Ag Tincachoca: TQ-02: 26.8 m @ 2.6% Cu, 0.42 g/t Au, 45 g/t Ag

Not all the targets within the prospect area have been tested. Those targets that have been tested have only been tested with very widely spaced drill holes. Norsemont believes there is potential to expand the zones of mineralization and identify additional zones of mineralization.

Due to the immense size of the property (10,300 ha), Norsemont plans to re-evaluate the targets within the prospect area identified by Rio Tinto. It is the Company's opinion that a more detailed grid mapping program would help to better understand the success of the previous drill holes. A program of mapping, trenching and sampling is being planned.

"Our partnership with Rio Tinto has allowed us the opportunity to acquire this very attractive project. Norsemont is very excited to have the opportunity to explore Amata which has existing high grade silver and copper mineralization" said Marc Levy, President and CEO of Norsemont Mining Inc., "The Amata project is an excellent addition to our property portfolio and demonstrates our commitment towards building a first class mining company."

The prospect was initially identified during the follow-up of thematic mapping anomalies which corresponded to a large volcanic complex with four volcanic edifices aligned NE-SW. Detailed geological mapping, systematic rock chip sampling and ground magnetics identified a large 10 x 4 km area of pervasive epithermal-style alteration with underlying porphyry intrusives in a setting similar to the Yanacocha Mine in northern Peru.

Alteration is typical of high sulphidation epithermal systems and characterized by extensive zones of vuggy silica and hydrothermal breccias bordered by zones of advanced argillic and propylitic alteration. Based on alteration mapping and surface geochemistry, six principle targets have been identified (Cerro Amata, Tincachoca, Cayrane, Tacune, Trinchera and Palcamayo) that vary from about 15 hectares (500 m x 300 m) to 120 hectares (1.2 km x 1 km) in size. The Cerro Amata target contains a central diatreme breccia body that has a surface dimension of approximately 600 x 300 m. The Breccias are strongly anomalous in silver (up to 2,400 g/t) and gold (up to 7.2 g/t) and hold the potential for bulk mineable silver-gold resources. Information is based on a report acquired from Rio Tinto.

Norsemont plans to evaluate the known geology, alteration and structure in light of the existing drill intercepts and sampling of 3,078 rock chip and grab samples include anomalies grading up to 2,400 g/t of Ag and up to 7.2 g/t of Au, to values below detection.

Management remains excited about its progress to date at its flagship Constancia project and is pleased to confirm a second drill rig is currently on site and drilling the newly identified areas of mineralization as previously announced on August 29, 2005. The addition of the Amata property gives us a truly first class portfolio of Peruvian resource assets.

A finder's fee will be payable in connection with this transaction.

Information contained in this release has been reviewed by Dr. Thomas Henricksen P. Geo., Norsemont's Consulting Geologist and Qualified Person as defined by NI 43-101.

Marc E. Levy Director & President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. We seek Safe Harbor.

SOURCE: Norsemont Mining Inc.

Marc E. Levy Director & President Phone: (604) 669-9788, Fax: (604) 669-9768, E-Mail: investors@norsemont.com, www.norsemont.com
Copyright (C) 2005 CNW Group. All rights reserved.

 

 

09/08/05
NORSEMONT ACQUIRES HIGH GRADE SILVER-GOLD-COPPER PROJECT FROM RIO TINTO

Norsemont Mining Inc. ("Norsemont") (TSX-V: NOM & OTCBB: NOMFF) is pleased to announce that it has signed a Letter Agreement with Rio Tinto Mining and Exploration Ltd. ("Rio Tinto") (NYSE: RTP) whereby Norsemont has acquired a 100% interest in 13 mineral properties known as the Amata Project in southern Peru, subject to approval by the TSX Venture Exchange.

The Amata Project consists of 10,300 hectares and is located 50 km northeast of Arequipa City in the Coalaque district in the department of Moquegua, Peru. The project area contains the Amata high sulphidation epithermal system and associated porphyries located in the Cordillera of southern Peru. Sampling of 3,078 rock chip and grab samples include anomalies grading up to 2,400 g/t of silver and up to 7.2 g/t of gold, to values below detection.

In 2002 and 2003 Rio Tinto completed a two-staged drill program consisting of 15 widely-spaced holes (within 2km), of which the most encouraging results include:

Cerro Amata: AM-01: 317.80 m @ 31.7 g/t Ag, 0.11 g/t Au AM-02: 100.25 m @ 1.11% Cu, 0.16 g/t Au, 19.55 g/t Ag Tincachoca: TQ-02: 26.8 m @ 2.6% Cu, 0.42 g/t Au, 45 g/t Ag

Not all the targets within the prospect area have been tested. Those targets that have been tested have only been tested with very widely spaced drill holes. Norsemont believes there is potential to expand the zones of mineralization and identify additional zones of mineralization.

Due to the immense size of the property (10,300 ha), Norsemont plans to re-evaluate the targets within the prospect area identified by Rio Tinto. It is the Company's opinion that a more detailed grid mapping program would help to better understand the success of the previous drill holes. A program of mapping, trenching and sampling is being planned.

"Our partnership with Rio Tinto has allowed us the opportunity to acquire this very attractive project. Norsemont is very excited to have the opportunity to explore Amata which has existing high grade silver and copper mineralization" said Marc Levy, President and CEO of Norsemont Mining Inc., "The Amata project is an excellent addition to our property portfolio and demonstrates our commitment towards building a first class mining company."

The prospect was initially identified during the follow-up of thematic mapping anomalies which corresponded to a large volcanic complex with four volcanic edifices aligned NE-SW. Detailed geological mapping, systematic rock chip sampling and ground magnetics identified a large 10 x 4 km area of pervasive epithermal-style alteration with underlying porphyry intrusives in a setting similar to the Yanacocha Mine in northern Peru.

Alteration is typical of high sulphidation epithermal systems and characterized by extensive zones of vuggy silica and hydrothermal breccias bordered by zones of advanced argillic and propylitic alteration. Based on alteration mapping and surface geochemistry, six principle targets have been identified (Cerro Amata, Tincachoca, Cayrane, Tacune, Trinchera and Palcamayo) that vary from about 15 hectares (500 m x 300 m) to 120 hectares (1.2 km x 1 km) in size. The Cerro Amata target contains a central diatreme breccia body that has a surface dimension of approximately 600 x 300 m. The Breccias are strongly anomalous in silver (up to 2,400 g/t) and gold (up to 7.2 g/t) and hold the potential for bulk mineable silver-gold resources. Information is based on a report acquired from Rio Tinto.

Norsemont plans to evaluate the known geology, alteration and structure in light of the existing drill intercepts and sampling of 3,078 rock chip and grab samples include anomalies grading up to 2,400 g/t of Ag and up to 7.2 g/t of Au, to values below detection.

Management remains excited about its progress to date at its flagship Constancia project and is pleased to confirm a second drill rig is currently on site and drilling the newly identified areas of mineralization as previously announced on August 29, 2005. The addition of the Amata property gives us a truly first class portfolio of Peruvian resource assets.

A finder's fee will be payable in connection with this transaction.

Information contained in this release has been reviewed by Dr. Thomas Henricksen P. Geo., Norsemont's Consulting Geologist and Qualified Person as defined by NI 43-101.

Marc E. Levy Director & President The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release. We seek Safe Harbor.

SOURCE: Norsemont Mining Inc.

Marc E. Levy Director & President Phone: (604) 669-9788, Fax: (604) 669-9768, E-Mail: investors@norsemont.com, www.norsemont.com
Copyright (C) 2005 CNW Group. All rights reserved.

 

Wie Phönix aus der Asche.
60% in wenigen Tagen! Geht´s
noch weiter rauf hier? 2 Euro?

Wer hat die nächste Norsemont auf Lager?  

Der Kursanstieg wurde genutzt um etwas Cash einzusammeln. 15 mios...
In den nächsten Wochen rechne ich nun mit der Scoping Studie. Die wird
wohl ziemlich gut ausfallen wenn ich mir die Kursentwicklung anschaue.

Ist schon unglaublich wie stark das Kaufinteressen in den letzten wochen war.
Da haben sich einige gut eingedeckt. Guter Job bis jetzt vom neuen Management!
Vielleicht sehen wir nächstes Jahr ne Übernahme....


Norsemont Mining Announces Bought-Deal Financing

VANCOUVER and LIMA, Peru, Nov. 1, 2007 (Canada NewsWire via COMTEX News Network) --

Shares Issued and Outstanding: 37,912,878

TSX: NOM

BVL: NOM

VANCOUVER and LIMA, Peru, Nov. 1 /CNW/ - Norsemont Mining Inc. ("Norsemont", the "Company") today announced the Company has entered into an agreement with a syndicate of underwriters led by Paradigm Capital Inc. (the "Underwriters") pursuant to which the Underwriters have agreed to buy on a private placement basis 5,400,000 special warrants from Norsemont for resale to accredited investors at a price of $2.90 per special warrant, representing an aggregate issue amount of $15,660,000.

Each special warrant shall be exercisable at no additional cost for one unit of Norsemont until 5:00 p.m. (Vancouver time) on the earlier of (i) the date which is five business days following the issuance of a decision document for a final prospectus qualifying the units underlying the special warrants and (ii) the date which is four months and one day following the closing of the offering. Each unit shall consist of one common share of Norsemont and one-half of one common share purchase warrant. Each whole warrant shall be exercisable for one common share at an exercise price of $3.50 per share for a period of 24 months following closing of the offering. Norsemont has agreed to use its best efforts to file and clear a prospectus qualifying the units as soon as practicable and, in any event, within 30 days following the closing of the offering.

Norsemont has also granted the Underwriters an option (the "Underwriters' Option"), exercisable in whole or in part at any time prior to 24 hours before the closing of the offering, to purchase for resale to accredited investors an additional 810,000 special warrants for additional gross proceeds of up to $2,349,000. The special warrants issued as part of the offering will be subject to a 4 month statutory hold period from the date of closing. Closing is expected to occur on or about November 15, 2007. The offering is subject to stock exchange and other regulatory approval.

The net proceeds of the offering will be used for the continued development of the company's Constancia copper/molybdenum/silver project in Peru and for general corporate purposes.

About Norsemont

Norsemont Mining is a Canadian mineral exploration and development company focused on the Constancia copper/molybdenum/silver project in southern Peru, which has been optioned from Rio Tinto Plc.

Cautionary Notice  

 

na das sind doch mal sehr gute Nachrichten!
Jetzt kann Norsemont Constancia zu 100% übernehmen.
schon komisch erst der Anstieg dann die guten News... wer da wohl schon was
wusste....:-)


Norsemont Mining Acquires Mitsui's 30 Percent Interest in Constancia Copper Project
11/1/2007    
VANCOUVER, BC, and LIMA, Peru, Nov. 1, 2007 (Canada NewsWire via COMTEX News Network) --

Rio Tinto Option Provides Norsemont with Opportunity to Control 100% of

Constancia Project in Southern Peru

Shares Issued and Outstanding: 37,912,878

TSX: NOM

VANCOUVER, BC, and LIMA, Peru, Nov. 1 /CNW/ - Norsemont Mining Inc. ("the Company") (TSX: NOM, BSM: NOM) today announced the conclusion of an agreement whereby the Company has acquired Mitsui's 30 percent interest in the Constancia copper/moly/silver project in southern Peru. Combined with Company's option over Rio Tinto's 70 percent interest in the Constancia project, this agreement provides Norsemont with the opportunity to establish control over 100 percent of the Constancia project.

Under the acquisition agreement with Mitsui, the Company will pay Mitsui a total consideration of US$9.8M over the next twenty months, with the final payment due by June 30, 2009.

About Norsemont Mining

Norsemont Mining is a Canadian mineral exploration and development company focused on the Constancia Cu-Mo-Ag deposit in southern Peru, which has been optioned from Rio Tinto Plc.

SOURCE: Norsemont Mining Inc.

Patrick Evans, Phone: (416) 670-5114, E-Mail: investors@norsemont.com, Web Site: www.norsemont.com
Copyright (C) 2007 CNW Group. All rights reserved.  

und wie vermutet ist die gut!! Positiv ist auch, das endlich mal vorher kommunizierte Termine eingehalten werden.
Ich denke selbst nach dem Anstieg ist NOM immer noch recht günstig und die Ressource kann wohl
noch um einiges erhöht werden. Bewertung ist grad mal knappe 129 Mio CAD. denke da ist noch etwas Luft...
na mal schauen ob das Motto jetzt heißt sell on good news.

NORSEMONT MINING ANNOUNCES CONSTANCIA SCOPING STUDY RESULTS        

November  5, 2007

NPV Ranges from $396M to $618M. IRR Ranges from 20.9% to 31.8%.

Vancouver and Lima, Peru, November 5, 2007 – Norsemont Mining Inc. (“the Company”) (TSX: NOM, BVL: NOM) today announced that SRK Consulting (SRK) has completed the scoping study for Constancia copper project in southern Peru. The scoping study considers an open pit mining operation using a standard milling and froth flotation plant to produce high grade copper and molybdenite concentrates.  The study is based on geological information and metallurgical testing available at the time of reporting, price quotations for major equipment and mining components, including owners’ fleet, and estimates of long-term prices for copper, molybdenum and silver. Exploration drilling at the Constancia project is continuing and the Company believes that the potential exists to significantly increase the current resource.

For economic evaluation purposes, the scoping study focused on three operating scenarios: a 30,000 tonne per day (t/d) stand-alone case (SA), a 30,000 t/d expandable to 55,000 t/d case (EX), and a 55,000 t/d stand-alone case (SA). Based on the current resource, the corresponding life of mine (LOM) for the 30,000 t/d and 55,000 t/d stand alone cases are 20 and 12 years, respectively. 

Estimated production for the 55,000 t/d SA case is approximately 112,218 tonnes per year of copper recovered over the first five years, with a LOM annual average production of 90,411 tonnes. For the 30,000 t/d SA case estimated production is 72,814 tonnes per year of copper recovered during the first five years, with a LOM annual average of 53,598 tonnes. During the feasibility study the expansion of the 30,000 t/d EX case to 55,000 t/d in year 6 or 7 will be reviewed together with the 55,000 t/d SA case.

Based on a discount rate of 8 percent and a payback period which incorporates a two year start up, the Constancia project’s Internal Rate of Return (IRR) and corresponding Net Present Value (NPV) for the three operating scenarios are as follows:

Description	30,000 t/d SA		30,000 t/d EX		55,000 t/d
	Without Contingency	With 25% Cont.	Without Cont.	With 25% Cont.	Without Cont.	With 25% Cont.
NPV @ 8%	$473M	$404M	$467M	$396M	$618M	$530M
IRR	26.7%	21.4%	26.1%	20.9%	31.8%	25.3%
Payback  from start of construction	6 years	7 years	6 years	7 years	5 years	6 years

Note: The cash flow values presented account for post tax and royalty payments.

The cash flow analysis used long-term price assumptions of $1.80 per lb Cu, $12 per lb Mo, and $11 per oz Ag. To provide an appreciation of the influence of metal prices to the project cash flow, a sensitivity analysis has been conducted modifying the copper price.  The results of the sensitivity analysis based on copper prices at $1.60 per lb, $1.80 per lb and $2.00 per lb are as follows:

Description	30,000 t/d SA			30,000 t/d EX			55,000 t/d
Cu price	$1.60	$1.80	$2.00	$1.60	$1.80	$2.00	$1.60	$1.80	$2.00
NPV @ 8%	$255M	$404M	$552M	$247M	$396M	$544M	$345M	$530M	$715M
IRR	17%	21.4%	25.5%	16.5%	20.9%	24.9%	19.9%	25.3%	30.3%
Payback from start of construction	8 years	7 years	6 years	8 years	7 years	6 years	7 years	6 years	5 years

Note: 1. Cash flow values are presented accounting for a 25% overall contingency and discount rate of 8%.
          2. The cash flow values presented account for post tax and royalty payments.

Cash operating costs net of credits are estimated at $0.74 per lb over the 20-year project life for the 30,000 t/d SA case and $0.67 per lb over the 12-year project life for the 55,000 t/d SA case. Capital expenditure estimates (inclusive of a 25 percent contingency) for the three operating scenarios are US$605.6M, US$617.3M and US$739.7M for the 30,000 t/d SA, 30,000 t/d EX to 55,000 t/d and 55,000 t/d SA, respectively. 

Based on the positive results of the scoping study, Norsemont will now advance the Constancia project to feasibility.  Negotiations with engineering consultants for the feasibility study and environmental impact assessment are underway and formal contracts are expected to be finalised by the end of the year. 

During the next several months, detailed budgeting and preliminary geotechnical field programs will be undertaken to establish a firm foundation for the feasibility study, which is expected to commence during the second quarter of 2008.  Infill drilling on the Constancia and San Jose zones is continuing, with the conclusion of the 42,000-meter program expected by year-end. Exploration drilling at the Constancia project will continue during 2008 and the Company believes that the potential exists to significantly increase the current resource.

Norsemont Mining Inc.

Norsemont Mining is a Canadian mineral exploration and development company focused on the Constancia Cu-Mo-Ag deposit in southern Peru, 70 percent of which has been optioned from Rio Tinto Plc and 30 percent of which has recently been acquired from Mitsui. The Constancia Project has a 43-101 compliant indicated resource of 70M tonnes (0.8 Billion lbs Cu) and an inferred resource of 250M tonnes (2.8 Billion lbs Cu).

Constancia Project

The Constancia project is located approximately 600 kilometers southeast of Lima, within the Yauri-Andahuaylas metallogenic belt, hosting several large copper-molybdenum- silver and gold porphyry deposits including Antapaccay (Xstrata) and Los Chancas (Grupo Mexico), as well as copper skarn deposits including Tintaya (Xstrata) and Las Bambas (Xstrata). The property is accessed by several roads, and is within 60 kilometers of a railroad. Elevation ranges from 4,000 to 4,700m, and several small permanently flowing rivers are present in the area.

Qualified Persons and Data Verification

The independent Qualified Persons (QP) for the purpose of National Instrument 43-101, Standards of Disclosure for Mineral Projects, who have reviewed and approved this release, are:

(a)

for the copper project (Scoping Study): (i) Raúl Paredes L.(mining reserve estimates, mine plan, mine capital and operating costs process and infrastructure engineering and cost estimation); (ii) Snowden (property description and location, accessibility, history, geological setting, deposit types, mineralization, exploration, drilling, sampling method and sample preparation, analyses and security, data verification); (iii) George Even, of SRK Consulting, Santiago, Chile (geotechnical assessment); and (iv) Adam Johnston of Transmin, Lima, Peru (mineral processing and metallurgical testing); and

(b)

for the portion of the mineral resource estimate that is based on the technical report dated May 9 2007 filed at www.sedar.com May 10, 2007,  entitled “Constancia Project Technical Report”, by Dr Warwick Board  of Snowden Mining Industry Consultants Inc., Vancouver, Canada; R. Baxter President and COO of Norsemont Mining; and Adam Johnston of Transmin, Lima, Peru.

Snowden is the independent QP, as defined under NI 43-101, responsible for the quality control and verification of the drill hole data used by Snowden in the resource estimates. The estimates, projections and conclusions summarised in this release are subject to important qualifications, assumptions and exclusions, all of which will be set out in a Technical Report, which will be filed at www.sedar.com within the prescribed 45-day period. To fully understand the summary information contained in this release, the full Technical Report should be read in its entirety when posted on SEDAR.

All $ amounts are in 2007 US Dollars. IRR & NPV calculations are calculated on a real after tax basis for 100% ownership interest (and therefore before Canadian taxes, if any) assuming all-equity financing.

ON BEHALF OF THE BOARD OF DIRECTORS,

Robert W. Baxter
President
Norsemont Mining Inc.

For more information:  
Patrick Evans
Norsemont Mining
Tel: (416) 670-5114
Email: pevans@norsemont.com 

www.norsemont.com

 

Hallo Pate,

Bin auf Norsemont aufmerksam geworden,ich glaube du hattest hier einen sehr guten riecher,sag mal der NPV von 600 Mio.-$ (without Contingency),ist der in Can.-$ berechnet oder in US.-$? Ich kenne mich aber mit Norsemont noch nicht so gut aus,gibts da noch andere Projekte ausser Constancia ?

Mein Problem,

Ich weiss nicht,ob ich mich für General Moly (GMO) oder Norsemont entscheiden soll !Auch GMO hat eine NPV-Tabelle vorgelegt (NPV zwischen 1 und 4,5 MRD.-$ für ein von insgesamt 2 Projekten,abhängig vom moly-Preis),aber GMO ist auch ,im Vergleich zu Norsemont,bereits jetzt exact 6 Mal so hoch bewertet wie norsemont! (422 Mio.-€ für GMO gegenüber 70 Mio.-€ für Norsemont)

Vielleicht Pate,ich kenn mich mit Finanzmathematik nicht so besobders gut aus,aber vom Bauchgefühl her würde ich sagen dass norsemont mehr Kurspotential hat,kannst du mir helfen zu einer vergleichenden Analyse beider "Top-Werte" zu gelangen,denn ich habe noch etwas Zeit mit dem einstieg,da ich im moment leider etwas klamm bin ...

Frohe Weihnachten !

Chalifmann  

.... als ob in old Germany, keiner was davon mitbekommt, was in Canada bei dem Wert an Kursanstieg + Volumen ab geht.  

ich geb zu ich war nah am verzweifeln aber irgendwann mussten sich die fundamentals
durchsetzen. Einen sehr großen Verdienst hat das neue Management. Die machen
einen phantastischen Job! Respekt!
Denke eine Übernahme könnte gegen ende des Jahres, spätestens nächstes Jahr anstehen.



Neue Ressourcenschätzung

Norsemont Reports Updated Mineral Resource Estimate at the 100 Percent-Controlled Constancia Project, Southern Peru

TORONTO, ONTARIO and LIMA, PERU, Apr 14, 2008 (Canada NewsWire via COMTEX News Network) --
<< Indicated Resource Grows by approx. 350 percent New Zone of Mineralisation Discovered between Constancia and San Jose Zones Vision to Grow Constancia Resource to between 600 and 800 Million Tonnes >>

Share Issued and Outstanding: 48,717,081

TSX: NOM

BVL: NOM

TORONTO, ONTARIO and LIMA, PERU, April 14 /CNW/ - Norsemont Mining Inc. ("Norsemont" or "the Company") (TSX: NOM; BVL: NOM) is pleased to announce results of an updated resource estimate for the Company's 100 percent-controlled Constancia Copper-Molybdenum-Silver porphyry deposit in southern Peru.

The updated independent mineral resource estimate has been completed on the Constancia and San Jose zones of the Constancia deposit by GRD Minproc Limited. The report estimates an Indicated Resource of 256.3 million tonnes grading 0.5 % copper, 0.012 % molybdenum and 4.4 g/t silver (0.62 % Cu-Equivalent) at a cutoff grade of 0.2% copper and an Inferred Resource of 156.5 million tonnes grading 0.33 % copper, 0.01 % molybdenum and 3.2 g/t silver (0.43 % Cu-Equivalent) at a cutoff grade of 0.2% copper (Table 1). The updated estimate for the Constancia deposit also contains small amounts of gold and zinc, which have not been reported.

"I am very pleased to see a large increase in our indicated resource base in this latest resource estimate", said Robert W. Baxter, President of Norsemont Mining. "While we had expected to have our infill drilling largely completed at this time we have now encountered significant mineralisation between the Constancia and San Jose zones. We believe now that within that envelope we are beginning to define a strong potassic alteration zone with potential for a significant additional target between these zones. We currently have six diamond drill rigs on site, working two shifts per day to define this new discovery. In addition, we are scheduled for the arrival of an additional reverse circulation drill rig in April for further rapid screening of other promising exploration targets in the immediate vicinity of the Constancia and San Jose zones."

Mr. Baxter added: "Our updated resource statement clearly demonstrates that the Constancia deposit is a large, well defined copper deposit which remains open to expansion. Also, it is one of the most advanced copper projects in Peru having recently progressed to the definitive feasibility stage following the completion late last year of our scoping study which demonstrated that Constancia has the potential to be a robust low-cost and long-life mine."

   <<       Table 1: Resource Estimate, Constancia Project, April 14, 2008    --------------------------------------------------    Cut-off                   Copper    Molybdenum      Silver       Cu Eq    Grade        Tonnes       Grade        Grade        Grade    --------------------------------------------------    (% Cu)      (Million)     (% Cu)       (% Mo)      (g/t Ag)        %    --------------------------------------------------                       Indicated Resource    --------------------------------------------------      0.5         92.0         0.81        0.013          6.0         0.95    --------------------------------------------------      0.4        132.3         0.70        0.013          5.5         0.84    --------------------------------------------------      0.3        193.7         0.59        0.013          4.9         0.72    --------------------------------------------------     0.25        229.9         0.54        0.012          4.6         0.66    --------------------------------------------------      0.2        256.3         0.50        0.012          4.4         0.62    --------------------------------------------------                       Inferred Resource    --------------------------------------------------      0.5         13.7         0.71        0.010          6.0         0.83    --------------------------------------------------      0.4         27.3         0.58        0.011          5.0          0.7    --------------------------------------------------      0.3         72.5         0.43        0.011          3.8         0.54    --------------------------------------------------     0.25        112.9         0.37        0.010          3.4         0.47    --------------------------------------------------      0.2        156.5         0.33        0.010          3.2         0.43    --------------------------------------------------    >>
Copper equivalent values are estimated using the following long-term metal prices: copper US$1.80 per lb, molybdenum US$12.00 per lb, and silver US$11.00 per oz. Cu-Equivalent equals Cu (%) plus Mo (%) times (12.00/1.80) plus Ag (g/t) times 0.35/(1.80x22.05). Adjustment factors to account for differences in relative metallurgical recoveries will depend upon the completion of definitive metallurgical testing. Metallurgical recoveries and net smelter returns are assumed to be 100 percent.

Norsemont's CEO, Patrick Evans, stated: "The expansion of the Constancia resource demonstrated by this updated resource statement is very encouraging, as is the discovery of additional mineralisation between the Constancia and San Jose zones. As previously reported, Norsemont has also discovered numerous additional copper anomalies in close proximity to the current Constancia resource. As a consequence of these discoveries, Norsemont has developed a vision to expand the Constancia resource to between 600 and 800 million tonnes."

Based on the April 2008 resource estimate, the Indicated Resources contain approximately 2.85 billion pounds of copper, 68.2 million pounds of molybdenum and 36.5 million ounces of silver at a 0.2% copper cutoff, and the Inferred Resources contain approximately 1.14 billion pounds of copper, 33.4 million pounds of molybdenum and 16.2 million ounces of silver (see Table 2). The April 2008 resource estimate, therefore, displays an increase of approximately 350 percent in contained copper in the Indicated category relative to the previous estimate reported in March 2007.

   <<       Table 2: Contained Metal (0.2% Cu cut-off), Constancia Project,                               April 14, 2008    --------------------------------------------------    Resource            Copper              Molybdenum            Silver    Category         (million lbs)         (million lbs)        (million oz)    --------------------------------------------------    Indicated            2,852                 68.2                 36.5    --------------------------------------------------    Inferred             1,147                 33.4                 16.2    --------------------------------------------------    >>
Composites assay data were capped between 0.050% Mo and 0.060% Mo for Molybdenum for three of nine estimation domains. Silver grade data from three of the domains was capped between 30 g/t Ag and 35 g/t Ag. No capping was applied to copper data.

The resource estimate for the Constancia deposit was generated using geological solids modeled by Atticus & Associates. Copper, molybdenum and silver grades were interpolated into a block model using ordinary kriging, with copper as the primary element. Table 1 includes Resources from the Constancia and San Jose zones. Resource classification was based on a combination of drill spacing, kriging variance, and confidence in geological and grade continuity.

Independent geologist Lynn Widenbar, MAusIMM, and a Qualified Person as defined by National Instrument (NI) 43-101, was responsible for the Mineral Resource Estimate dated April 14, 2008. Mr. Widenbar has read and approved the contents of this news release. The Resource estimate has components of both Indicated and Inferred mineral resources, consistent with the CIM definitions referred to in NI 43-101. This estimate will be filed in a Technical Report compliant with NI 43-101 on SEDAR within 45 days. Mineral Resources which are not Mineral Reserves do not have demonstrated economic viability. Norsemont is not aware of any environmental, permitting, legal, title, taxation, socio-political, marketing or other issues which may materially affect its estimate of mineral resources.

Quality Control

The Resource Estimate is based upon 206 diamond drill holes totaling 66,357.7 meters completed by Rio Tinto and Norsemont through to the end of December 2007. Norsemont has completed 182 holes and Rio Tinto had previously drilled 24 holes that are included in this Resource Estimate.

Core samples were cut with a diamond saw, with one-half of the core placed in sealed bags, and shipped to ALS Chemex Assay Labs in Lima, Peru. Secondary laboratories are also used for check assaying. Drill core was sampled at two metre intervals after logging. Some sample length changes were made when lithological or mineralogical boundaries where important and sample lengths met those boundaries. In general, contacts between high grade and low grade samples (visually estimated) correspond with the sample boundaries. In some visually determined low copper grade intervals, sample length was increased to 3-metres. Half core was sampled after it was symmetrically cut with a core saw.

The drilling program and geological studies during 2007 and 2008 at the Constancia project for Norsemont were supervised by Dr. Leonardo Diaz, (MAusIMM)., and Robert Baxter (MAusIMM), Norsemont's Qualified Person as defined by NI 43-101, who have reviewed and approved the information contained in this news release.

A plan map with drill hole locations and the tabulated drilling results is available on Norsemont's website at www.norsemont.com. Other geological data including cross sections will be made available with the NI 43-101 Technical Report which is to be posted on SEDAR within 45 days of this press release.

About Norsemont Mining

Norsemont Mining is an independent, well-financed exploration and development company focused on the Constancia Cu-Mo-Ag project in southern Peru. The Constancia Project is located between the Tintaya Mine and the Las Bambas copper deposit of Xstrata PLC in Southern Peru. A December 2007 scoping study anticipates a project producing in excess of 90,000 tonnes of copper annually. The study indicates the project has a net present value of $530 million and an internal rate of return of 25.3 percent. The following long-term commodity price assumptions were used in the study: copper $1.80 per pound, molybdenum $12 per pound and silver $11 per ounce. The full study, dated December 11, 2007, and titled "Preliminary Assessment of the Constancia Project, Department of Cusco, Peru" is available for viewing on SEDAR.

Norsemont Mining controls 100 percent of the Constancia Project and has no concentrate off-take commitments.

ON BEHALF OF THE BOARD OF DIRECTORS,

Robert W. Baxter

President

Norsemont Mining Inc.

SOURCE: Norsemont Mining Inc.

Patrick Evans, Norsemont Mining, Phone: (416) 670-5114, E-Mail: investors@norsemont.com, Web Site: www.norsemont.com

Copyright (C) 2008 CNW Group. All rights reserved.  

die letzte Schätzung

Based on the March 2007 Resource estimate, the Indicated Resources contain approximately 818 million pounds of copper, 20.1 million pounds of molybdenum and 9.0 million ounces of silver at a 0.2% copper cutoff, and the Inferred Resources contain approximately 2.81 billion pounds of copper, 71.7 million pounds of molybdenum and 36.2 million ounces of silver (see Table 2). The March 2007 Resource estimate, therefore, displays an increase of approximately 9.7% in contained copper in the Indicated category and approximately 133% in contained copper in the Inferred category relative to the initial estimate reported in October 2006.  

Hallo Zusammen,

dass man die Details zu sämtlichen kanadischen Aktien auf einen Blick hat und auch zB. auf der Arbeit einfacher daauf zu greifen kann, hab ich nun auch Norsemont Mining auf meine Homepage eingebunden:

http://www.aktien-infos.com/can_detail.html

Alle Infos auf einen Blick:

http://www.aktien-infos.com

Viele Grüße
czujackh  

nicht schlecht deine Seite!!  

nix mehr im Forum getan.  

 

 

NORSEMONT MINING I COM NPV
(Toronto: NOM.TO)

Last Trade: 1.94
   Change:§Up 0.26 (15.48%)
Prev Close: 1.68
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      Bid:      1.90 
      Ask: 1.95
§
Day's Range: 1.70 - 1.94
52wk Range: 1.07 - 3.12
   Volume:   317,891§
Avg Vol (3m): 96,576.9
Market Cap: N/A
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Div & Yield: N/A (N/A)

 

Norsemont Mining Drills 242.5 gpt Gold at Constancia

* High grade gold intercepts including 3 metres @ 242.5 gpt Au
* Additional High Grade Cu-Au-Mo at Pampacancha: 75.25 m @ 1.84% Cu Eq
* First Mine Permitting and Optimisation Studies on track

Share Issued and Outstanding: 82,243,000
 

--------------------------------------------------

ständiger Kaufdruck


NOM TSX $2.74 +0.36 +15.13% 2.69(30) 2.73(170) 2.74 2.44 2.44 vol 1,262,862

was Einer meint: (Stockhouseboard)

Zitat:

My calculation is based on a conservative 5 billion lbs of copper at $4 a lb= $20 billion total revenue( and it could be more if copper is in deficit for the next 10 years as some are forecasting). Take off $1 billion to build the mine and take off mining costs of $1 per lb. This gives before tax profit of $14 billion. then deduct taxes of say 50% leaves some $7billion of after tax profit. And with 113 million shares this results in over $60 per share for the shareholders. I am curious what others think? Personally I would be ecstatic for $30 per share!!

 

 

Norsemont Mining Drills 242.5 gpt Gold at Constancia

 

• High grade gold intercepts including 3 metres @ 242.5 gpt Au
• Additional High Grade Cu-Au-Mo at Pampacancha: 75.25 m @ 1.84% Cu Eq
• First Mine Permitting and Optimisation Studies on track

Share Issued and Outstanding: 82,243,000               
TSX: NOM
BVL: NOM

TORONTO, Ontario and LIMA, Peru, Oct. 12 /CNW/ -Norsemont Mining Inc. ("the Company") (TSX: NOM, BVL: NOM) today announced the results of ongoing exploration drilling at the Company's Chilloroya South and the Pampacancha discoveries, located approx. 5 kilometres south and 2.5 k
ilometres south east, respectively, of the Constancia Project's planned first mine development ("Phase 1 Mine").

Commenting, Norsemont President and COO Mr. Robert Baxter said: "Our exploration program, which is measured and methodical, is progressing well with the latest drill results indicating the potential for bonanza gold mineralisation at our Chilloroya South "Target 1" and high grade Cu-Au mineralisation in skarn at another Chilloroya South prospect, "Target 3". Drilling at Chilloroya South has confirmed a very large porphyry style copper-gold system, which requires further analysis. Included in our plans for further investigation is the commencement next month of a Titan 24 geophysical survey to be carried out by Quantec Geophysics. This state of the art, multi-channel and multi dimensional system will be able to assist us with the deeper targeting."

At Chilloroya South, the Phase 1 drill program has tested five targets with 7,609.35 metres of drilling, which has shown high levels of porphyry copper-gold mineralisation. Two of the five targets have now been selected for Phase 2 follow-up drilling. At "Target 1", two holes reported high grade gold intercepts in a broad 20 to 30 metre correlated zones across four reverse circulation holes over an initial 500 metre N-S strike length, with skarns extending on surface for about 400 metres in an E-W direction. High grade intercepts include hole SR-10-013 which returned a bonanza grade intercept of 3 metres assaying 242.5 gpt Au (from 136 to 139m) within an 18 metre zone of mineralised skarn carrying highly anomalous gold from 130 to 148 metres depth. Hole SR-10-010 returned 84 metres of mineralised skarn (from 52 to 136m) averaging 0.52 gpt Au, including 3 metres assaying 7.1 gpt Au from 76 to 79m depth. These two holes are approximately 165 metres apart and present a new high grade to bonanza grade gold exploration target.

At our "Target 3", high grade copper-gold mineralisation was intercepted in skarn mineralisation adjacent to a potassically altered porphyrytic diorite in hole SO-10-008, where 31.60 metres (from 251.75 to 283.35m) returned 0.72% Cu, 0.29 gpt Au, and 6 gpt Ag (0.98 Cu-Eq). Immediate follow-up is underway.

The Company also announced results from ongoing exploration drilling at the highly prospective Pampacancha discovery, where 7,152 metres of drilling has been completed. Pampacancha is located approximately 2.5 kilometres south-east of Constancia's Phase 1 Mine and has reported further high grade intercepts from the current drill program. Hole PO-10-017 returned 75.25 metres (from 116 to 191.25m) with 0.94% Cu, 412 ppm Mo and 0.94 gpt Au (1.84% Cu-Eq). Hole PO-10-019 intersected 68.95 metres (from 124.45 to 193.40m) assaying 1.05% Cu, 439 ppm Mo, 7.58 gpt Ag, and 0.70 gpt Au (1.82% Cu-Eq).

Significant intervals from the current drill program are reported in the table below:

	HOLE_ID		Int	From	To	COG	Cu%	Mo ppm	Ag gpt	Au gpt	Pb ppm	Zn ppm	CuEq%
Chilloroya	SO-10-008		31.60	251.75	283.35	0.2	0.72	65	6.00	0.29	18	141	0.98
SR-10-010		84.00	52.00	136.00		0.05	1	1.56	0.52	81	249
including	3.00	76.00	79.00		0.03	1	0.60	7.10	280	313
SR-10-013		3.00	136.00	139.00		0.02	1	19.10	242.56	134	375
Pampacancha	PR-10-015		37.35	16.90	54.25		0.07	395	0.53	0.03	24	210
	18.00	62.00	80.00		0.12	205	1.62	0.21	128	481
	77.60	104.00	181.60	0.20	0.30	330	3.01	0.18	305	2,190	0.65
including	11.65	114.35	126.00		0.05	1,437	2.33	0.13	342	583
PO-10-016		50.70	4.84	55.54		0.20	108	2.34	0.27	75	2,037	0.45
	31.00	149.00	180.00		0.19	187	3.43	0.18	218	372	0.45
	13.40	186.00	199.40		0.33	93	3.58	0.23	211	525
PO-10-017		75.25	116.00	191.25	0.10	0.94	412	9.56	0.94	628	1,401	1.84
PO-10-018		2.00	44.00	46.00		0.15	486	4.31	0.09	330	1,156
	1.35	160.65	162.00		0.00	3	5.10	15.08	1,171	696
	2.65	176.00	178.65		0.04	533	1.47	0.01	117	258
PO-10-019		68.95	124.45	193.40	0.20	1.05	439	7.58	0.70	495	1,114	1.82
including	41.25	146.75	188.00	0.50	1.24	502	8.60	0.69			2.04
PR-10-026		13.00	0.00	13.00	0.20	1.16	91	17.97	0.33	389	1,329	1.57
PR-10-016		22.00	0.00	22.00		0.14	61	3.41	0.62	882	1,649
	9.00	94.00	103.00		0.11	0	1.77	0.72
PR-10-017		9.00	73.00	82.00		0.02	10	1.77	1.00	174	313
PR-10-022		55.00	0.00	55.00	0.20	0.53	145	5.86	0.06	51	295	0.71

Note 1: Copper equivalent values (CuEQ) are estimated using long-term metal prices including: copper US$2.00 per lb, molybdenum US$13.00 per lb, silver US$12 per oz and gold US$ 800 per oz.

Note 2: All analytical results presented are carried out by SGS-Lakefield laboratories in Lima, Peru. All appropriate QA-QC measures are adopted by both the laboratory and the company involving the use of duplicates and standards. The intercepts presented are not true widths.

Constancia Phase 1 Mine Permitting

Progress on the approval of the Environmental and Social Impact Assessment (ESIA) continues with no further observations identified by Peru's National Water Authority.  We anticipate final approval of the ESIA within the next month.

Constancia Phase 1 Mine Optimisation Study

The First Mine optimisation study is progressing well with the recent completion of the preliminary grinding circuit layout and equipment configuration to support increased throughput over the life of mine.  Also, preliminary results from the pit optimisation study using new optimisation parameters in addition to the revised mine schedule are expected in the near future.  The results from the pit optimisation and mine scheduling will support a revised Phase 1 Mine economic model, which will include the use of more robust long-term metal price assumptions. 

Commenting, Norsemont CEO Patrick Evans said: "We are pleased with the progress of the Phase 1 Mine optimisation study and look forwards to the approval of the ESIA by mid-November.  On the back of these critical milestones, Norsemont is now mobilising a mine development team with the intention of taking Constancia's Phase 1 Mine into development as expeditiously as possible. Norsemont is also currently reviewing proposals from financial consultants who are prepared to assist us in arranging the capital for the Phase 1 Mine's development. We expect to make further announcements in this regard in the near future".

****

ABOUT NORSEMONT MINING - Norsemont is a mineral exploration and development company advancing the extensive Constancia Copper-Gold project in Southern Peru. A September 2009 independent definitive feasibility study indicates that the Phase 1 Mine development at the Constancia Project has a NPV (8%) of $931.8M and an IRR of 26.9% (based on $2.75/Lb Cu) and can support a 15-year mine producing an annual average of approx. 150 million pounds of copper, 1,180 tonnes of molybdenum and 1.5 million ounces of silver. Constancia's Phase 1 Mine has a proven and probable reserve of 277.4 million tonnes grading at 0.43% Cu, 0.012% Mo, 3.69 g/t Ag. Exploration drilling at Constancia's satellite Pampacancha and Chilloroya South discoveries are expected to add significant tonnage to the global resource. 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. All analytical results presented are carried out by SGS-Lakefield laboratories in Lima, Peru. All appropriate QA-QC measures are adopted by both the laboratory and the company involving the use of duplicates and standards.

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.
 

 

HudBay digs into Peru with Norsemont deal

It is reported that Base metals miner HudBay is reaching into copper rich Peru to revitalize its growth prospects after a series of corporate setbacks in recent years.

HudBay has struck a friendly USD 520 million cash and share deal to buy Norsemont including ownership of its flagship Constancia copper project in southern Peru a stable mining country that ranks second worldwide behind Chile in production of the widely used metal.

The deal is the first major acquisition made by Mr David Garofalo HudBay chief executive officer who was appointed in July when he became the fourth person in two years to take the helm at the Toronto-based miner. It’s also the first takeover HudBay has launched since its bid for Vancouver based Lundin Mining Corp failed in 2009.

If approved, the acquisition would give HudBay a footprint in South America, diversifying its production from its main copper and zinc operations in Manitoba where the company has also refocused its efforts in recent months.

Mr Garofalo said “It’s a significant milestone. Now that we have taken care of business in our own home camp, we can now look further outwards to diversify our portfolio.”

While HudBay said it has the support of about 35% of Norsemont shareholders to complete the deal and needs just 50% approval, analysts say other bidders could still surface as the race intensifies for what’s left of the world more accessible reserves.

Mr David Cotterell BMO Nesbitt Burns analyst said “We know that a lot of mid-cap copper companies globally are looking, they are all cashed up and have pretty strong balance sheets.”

Copper prices have been on a record run over the past few months as a result of tight supply and rising demand both from industry and investors. The metal, used in everything from power to construction is in especially high demand in rapidly industrializing countries such as China, the world’s top consumer of base metals. High demand and supply shortages have also led to increased investor demand with the launch of new copper-backed, exchange-traded funds in recent weeks.

An acquisition of Norsemont would boost HudBay copper production by 145% by 2016 and increase its reserves by 350%. Over its expected 15 year mine life, Constancia is expected to produce 172 million pounds of copper and two million pounds of molybdenum annually. Building the Constancia mine will cost about USD 1 billion which HudBay said it can do with existing cash and credit lines.

Mr Patrick Evans CEO of Norsemont said the company was approached by about 20 interested buyers  before signing the deal with HudBay, which gives shareholders a piece of the Peru copper play. He said that “We are not cashing out. Having the consideration in HudBay shares is very compelling. We have the opportunity to diversify and derisk and to participate in the success and the growth of a very exciting and up and coming Canadian mining company.”

Three of Norsemont nine board members did not approve the HudBay agreement, including two who abstained from the vote and one who voted against the proposed deal. Mr Evans said each of the three has ties to the Sentient Group an Australian private equity firm and Norsemont largest shareholder with about a 20% stake. Sentient hasn’t decided whether to support the HudBay offer.

http://steelguru.com/metals_news/...u_with_Norsemont_deal/185718.html  

Kapitalmaßnahme - Norsemont Mining Inc. Registered Shares o.N.
Umtauschangebot
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ISIN (WKN) CA6565291045 (A0DQKK)
Wertpapierbezeichnung Norsemont Mining Inc. Registered Shares o.N.

Bezogener Titel
ISIN (WKN) CA4436281022 (A0DPL4)
Wertpapierbezeichnung HudBay Minerals Inc. Registered Shares o.N.
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