Latest news with #Norsemont
The Market Online
18 hours ago
- Business
- The Market Online
Rob McEwen adds Norsemont Mining to his portfolio
Notable mining investor Rob McEwen, chairman of McEwen Mining (TSX:MUX), picked up shares in Norsemont Mining (CSE:NOM), a junior gold explorer advancing its flagship Choquelimpie project in Chile to bankable feasibility The project's resource is estimated at 2,184,000 gold equivalent ounces indicated and 557,000 gold equivalent ounces inferred Norsemont Mining stock has added 475 per cent year-over-year Notable mining investor Rob McEwen, chairman of McEwen Mining (TSX:MUX), picked up shares in Norsemont Mining (CSE:NOM), a junior gold explorer advancing its flagship Choquelimpie project in Chile to bankable feasibility. The project's resource is estimated at 2,184,000 gold equivalent ounces indicated and 557,000 gold equivalent ounces inferred. This content has been prepared as part of a partnership with Norsemont Mining Inc., and is intended for informational purposes only. McEwen made the lead order in the second tranche of an ongoing private placement, with the tranche closing on 2,320,000 units priced at C$0.60 for gross proceeds of C$1,392,000. Each unit consists of one common share and one-half of one warrant, with each warrant allowing the holder to acquire one share for C$0.75 for two years from the closing date, subject to acceleration as detailed in Monday's news release. 'I'm pleased to become a strategic shareholder in Norsemont Mining as they advance the Choquelimpie project in Chile,' McEwen noted. 'The project's scale, geological potential and existing infrastructure provide an excellent foundation for value creation. I look forward to supporting the team as they work to unlock Choquelimpie's full potential for the benefit of all shareholders.' Norsemont will allocate the proceeds to metallurgy, general working capital and phase 3 drill programs at Choquelimpie focused on copper porphyry, high-grade gold and oxide-leachable gold targets. Leadership insights 'We are deeply honoured and privileged to gain the support of legendary mining entrepreneur and investor, Rob McEwen, and we are excited to welcome him as a strategic shareholder in Norsemont,' Marc Levy, Norsemont Mining's chief executive officer, said in a statement. 'His commitment is a strong endorsement of our vision and provides valuable resources to advance the Choquelimpie project through our upcoming drilling and technical programs, positioning us to continue delivering value for all stakeholders.' About Norsemont Mining Norsemont is advancing its 100-per-cent-owned Choquelimpie gold, silver and copper project in Chile. The project is previously permitted, houses a 3,000-ton-per-day mill and offers robust exploration upside informed by more than 1,700 drillholes on the property to date. Norsemont Mining stock (CSE:NOM) is up by 2.99 per cent trading at C$0.69 as of 11:20 am ET. The stock has added 475 per cent year-over-year. Join the discussion: Find out what investors are saying about this gold, silver and copper stock on the Norsemont Mining Inc. Bullboard and make sure to explore the rest of Stockhouse's stock forums and message boards. Stockhouse does not provide investment advice or recommendations. All investment decisions should be made based on your own research and consultation with a registered investment professional. The issuer is solely responsible for the accuracy of the information contained herein. For full disclaimer information, please click here.
Globe and Mail
15-04-2025
- Business
- Globe and Mail
Updated Mineral Resource Strengthens Micro Cap's Development Plans in Chile
Updating a Mineral Resource Estimate is crucial for advancing a mining project through economic studies and development planning. Not only is it important because it reflects the most recent drilling data and geological insights, giving a more accurate picture of the mineral deposit but it builds investor confidence, adds value to the project, and shows that the company is actively progressing toward production. That's exactly what was announced today when Norsemont Mining Inc. (CSE: NOM) (OTCQB: NRRSF) released an updated Mineral Resource Estimate (MRE) for its Choquelimpie Gold-Silver-Copper Project in Northern Chile. The new MRE outlines 2,184,000 indicated and 557,000 inferred gold equivalent ounces. The update was based on additional drilling and geological reinterpretations, highlighting the project's potential and reaffirming Norsemont's 100% ownership of the site through its Chilean subsidiary, Sociedad Contractual Minera Vilacollo. The breakdown of the MRE includes 81,888,000 tonnes of indicated resources grading 0.83 g/t gold equivalent (AuEq), with 1,731,000 ounces of gold, 33,233,000 ounces of silver, and 50,867,000 pounds of copper. Inferred resources stand at 25,267,000 tonnes grading 0.69 g/t AuEq, containing 446,000 ounces of gold, 7,219,000 ounces of silver, and 19,104,000 pounds of copper. The updated estimate incorporates 3,144 meters of new drilling conducted in 2021 and improved modeling of oxidation zones. 'This updated Mineral Resource Estimate of 2,184,000 indicated and 557,000 inferred gold equivalent ounces marks a significant milestone for Norsemont and provides a strong foundation as we advance Choquelimpie toward development,' said Marc Levy, President and CEO. He emphasized the enhanced confidence in the resource and the project's growth potential. Moving forward, Norsemont will continue drilling in oxide and sulfide zones, as well as conduct metallurgical testing and economic studies to support a Preliminary Economic Assessment. Shares of NOM were trading up 16.67% at $0.245 while U.S. listed shares (NRRSF) were surging 27.14% at $0.178 in late-morning trading. Copyright © 2025 All rights reserved. Republication or redistribution of content is expressly prohibited without the prior written consent of shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon. View more of this article on About Media, Inc.: Founded in 1999, is one of North America's leading platforms for micro-cap insights. Catering to both Canadian and U.S. markets, we provide a wealth of resources and expert content designed for everyone—from beginner investors to seasoned traders. is rapidly gaining recognition as a leading authority in the micro-cap space, with our insightful content prominently featured across numerous top-tier financial platforms, reaching a broad audience of investors and industry professionals. Want to showcase your company's story to a powerful network of investors? We can help you elevate your message and make a lasting impact. Contact us today. Contact: Media, Inc.
