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Highlights:
1.43 grams per tonne (“g/t”) gold (“Au”) over 63.0 metres (“m”), including 2.01 g/t Au over 35.0m deepening known high-grade gold mineralisation at Vizcacha (MV21-003).
0.71 g/t Au, 10.7 g/t silver (“Ag”) over 115 m, (0.84 g/t gold equivalent “AuEq”*) extending and opening up new zones of mineralisation north-east of the
Choque Pit (MV21-006).Including 0.83 g/t Au, 39.6 g/t Ag, (1.32 g/t AuEq, oxide) over 19.0 m and 0.63 g/t Au, 31.8 g/t Ag, (1.02 g/t AuEq, oxide) over 14.0 m (MV21-006).
In Q4 2021 two (2) drill rigs completed ten (10) diamond drill holes for a total of 3,144.1 meters drilled, prior to the temporary suspension of the drilling operations due to the early onset of the Altiplano winter (Figure 1).
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Figure 1: Choquelimpie historic open pits and drill holes, with Norsemont’s 2021 drill hole locations. Holes with results reported here are highlighted in yellow.
The second batch of analytical results for the program have been received from
*Gold equivalent (AuEq) is used for illustrative purposes, to express the combined value of Au and Ag as a percentage of Au. AuEq is calculated using 80:1 silver to gold ratio where AuEq = Au + (Ag*0.012). No allowances have been made to accommodate potential recovery losses that would occur in a mining scenario.
** Significant gold intercepts are those with >0.3 g/t Au, maximum 4m continuous internal dilution, AND >10 gram-metres; Grades are core-length weighted and rounded to two decimal places. True width is estimated at 75-95% of core length.
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Figure 2: Plan Map of the
Diamond drill holeMV21-003tested the eastern strike and depth extent of high-grade breccias observed in the
Diamond drill holeMV21-005tested the western strike and depth extent of high-grade breccias seen in the
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Figure 3: Cross-section A-A’ through drill hole MV21-003 showing significant gold intercepts and preliminary geological interpretation of the hydrothermal breccia bodies.
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Figure 4: Drill core from MV21-005 showing Vizcacha Porphyry, cut by multiple generations of A and B veins; A and B – 322.6m, C – 347.2m, D – 350.8m.
This porphyry has been named the “Vizcacha Porphyry” (DPV) and has been observed in outcrops to the north and west of the
Drill holeMV21-006tested the north-eastwards extension of mineralisation from the
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Figure 5: Plan Map of the
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Figure 6: Cross-section B-B’ through drill hole MV21-006 showing significant gold intercepts and preliminary geological interpretation of the hydrothermal breccia bodies.
Hole MV21-006 cuts advanced argillically altered hydrothermal breccia (HBX) with infill of grey silica-pyrite (Figure 6). Significant gold and silver intercepts coincide with hydrothermal breccia and include 19m (68-87m) grading 0.63 g/t Au, 31.8 g/t Ag, (1.02 g/t AuEq) as oxide and 115m (109-224m) grading 0.71 g/t Au, 10.7 g/t Ag, (0.84 g/t AuEq) including 14m (109-123m) grading 0.83 g/t Au, 39.6 g/t Ag, (1.32 g/t AuEq), as oxide.
Drill core for the Choquelimpie 2021 drill program is collected directly from the drill site by SCM Vilacollo geologists and technicians and taken to the core shack at the Choquelimpie camp. Drill core is then logged, photographed, and sampled by SCM Vilacollo staff who insert certified reference materials into the sampling sequence when/where appropriate. Sample lengths are marked at 1.0 metre intervals and the core is cut by a diamond blade rock saw, with half of the cut core placed in individual bar-code numbered polyurethane bags and half placed back in the original core box for permanent storage. The sample bags are then sealed and placed in security-sealed sacks before delivery by SCM Vilacollo staff to the
All drill core splits reported in this news release were analysed at
Samples that return values >10 ppm gold from fire assay and AAS are determined by using fire assay and a gravimetric finish (lab code AEF_GRV_1E43). Samples that return values >5,000 ppm for copper and >400 ppm silver by ICP analysis are determined by four acid digestion AAS finish assay (lab codes 4A-HF_AAS_1E13_ppm and 4A-HF_AAS_1E08_0.25-100 respectively).
The information presented in this news release was collected and prepared by SCM Vilacollo staff in accordance with Canadian regulatory requirements as set out in National Instrument 43-101. QA/QC for the analytical results was reviewed by Mr.
Mr.
Norsemont has agreed to issue 284,772 Shares (the "Debt Shares") on a "shares-for-debt" basis in settlement of debts of
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Norsemont comprises experienced natural resource professionals focused on growing shareholder value and developing its flagship project through to bankable feasibility.
On behalf of the Board of Directors,
CEO & Chairman
For more information, please contact the Company at:
Telephone: (604) 669-9788; Facsimile: (604) 669-9768
Investor Relations
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psearle@citygatecap.com
Forward-Looking Information
This release includes certain statements that are deemed "forward-looking statements". All statements in this release, other than statements of historical facts, that address events or developments that Norsemont expects to occur, are forward-looking statements. Forward-looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results may differ materially from those in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include changes to commodity prices, mine and metallurgical recovery, operating and capital costs, foreign exchange rates, ability to obtain required permits on a timely basis, exploitation and exploration successes, continued availability of capital and financing, and general economic, market or business conditions. Investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Forward-looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
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