Drilling at the southern edge of Pampacancha Main Body continues intercepting high-grade Cu-Mo-Au mineralization demonstrating further extension of the mineralized body at the southern limits of the known mineralization.
The latest result from holes PO-10-040 and PO-10-042 are very encouraging and demonstrate the southern extension of high Cu-Mo-Au values in the skarn mineralization and a high grade epithermal gold vein overprint returning up to 62gpt Au over 2.65m.
Norsemont has earlier reported that SRK Vancouver has been engaged to conduct a scoping study on the Pampacancha resource where the company expects to be able to exploit the high grade copper-gold and molybdenum mineralization by open-pit and underground mining methods.
It is anticipated that the scoping study will be completed by the second quarter of 2011.
At Pampacancha, accumulated meterage from 2008 to date totals 18,425.80m, with only 11,199.60m (44 holes) targeting the Main Body.
Drilling in Sector 1, at the southern part of the Main Body, continues to report high-grade Cu-Mo-Au intercepts.
Two rigs are currently drilling at Pampacancha, and from January 2011 an infill drilling campaign is planned at the Main Body to upgrade the resource classification from inferred to measured and indicated. This campaign contemplates an additional 6,000m of diamond drilling at Sectors 1 and 2.
The Phase 1 Mine pit optimization study has been completed showing positive results projecting a substantial increase in minable ore.
