Norsemont Mining Completes Strategic Land Acquisitions for Development of Constancia Project
Norsemont Mining Inc. announced the purchase of the fifth and final private land package for the development of the Constancia Cu-Ag-Mo project in southern Peru. San Antonio covers an area of approximately 1,443 hectares adjoining four other farms already owned by Norsemont, bringing the Company’s total land package at the Constancia project to approximately 4,000 hectares.
Norsemont’s CEO Patrick Evans said: “The acquisition of San Antonio brings to a conclusion a two-year program to secure all the private land in proximity to the Constancia project. Control over this private land provides Norsemont with security of access, flexibility in the selection of sites for surface infrastructure without impediments and also simplifies the permitting process.”
The Company also confirmed that the Constancia definitive feasibility study (DFS) is progressing satisfactorily and remains on schedule for completion during the second quarter of 2009. Advances to the DFS are completion of the pit geotechnical drilling and design, seismic studies, tailing facility alternatives analysis, selection of the preferred tailings facility and location, selection of the mine waste dump and design criteria, and 85% completion of the mining and process engineering. In addition, work on the waste characterisation and site-wide water balance for the project has been initiated and is on schedule. Offsite infrastructure design for the main access road and power supply has been completed.
On January 26, 2009, the pilot plant testing of a 25-tonne ore sample commenced. The testing program and reporting will be completed by the end of March. Preliminary results validate the laboratory work in terms of copper, zinc and molybdenum interactions.
The Constancia Environmental Social Impact Assessment (ESIA) is continuing and remains on scheduled for completion by the third quarter of 2009.
In pursuit of the Company’s vision to expand the Constancia resource to more than 800 million tonnes, a geological reconnaissance program has been initiated to further evaluate the Pampacancha copper/gold discovery and other new exploration targets to the south. Preliminary results confirm the widespread mineralisation in the southern area of Constancia. Results from the study will be released following the completion of the field program.
