Northwire Canada EditionWednesday, July 15, 2026
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SGQ 0.400 +5.3% GMX 1.87 −1.6% ALM 0.310 +0.0% WCU 0.010 +0.0% NTH 0.155 −6.1% GGM 0.035 +0.0% FG 0.035 +0.0% EFR 17.76 −4.5% IVN 10.51 −2.5% MASS 0.090 +0.0% LIF 26.57 −2.3% CPAU 0.155 +0.0% PTX 0.105 −4.5% VENT 0.160 +0.0% ANK 0.278 −4.3% ODV 3.38 +0.3% SGQ 0.400 +5.3% GMX 1.87 −1.6% ALM 0.310 +0.0% WCU 0.010 +0.0% NTH 0.155 −6.1% GGM 0.035 +0.0% FG 0.035 +0.0% EFR 17.76 −4.5% IVN 10.51 −2.5% MASS 0.090 +0.0% LIF 26.57 −2.3% CPAU 0.155 +0.0% PTX 0.105 −4.5% VENT 0.160 +0.0% ANK 0.278 −4.3% ODV 3.38 +0.3%
Drill Results Routine +

Norsemont Drills 20 Meters of 1.20 G/T Gold Equivalent at Bottom of Hole

Norsemont's Choquelimpie Phase 3 Drilling Confirms Higher-Grade Sulfide Extensions, But Capital Burn and Going Concern Risks Loom

By The Northwire Desk — AI Analysis Jun 05, 2026 · 09:00 NOM · 0.99 Norsemont Mining Inc.
Executive Summary
  • Norsemont Mining announced assay results for two additional Phase 3 drill holes (DD04 and DD05) at its 100%-owned Choquelimpie project in northern Chile.
  • DD04 returned 28 meters averaging 0.97 g/t AuEq, while DD05 intersected three distinct gold intervals, including 58 meters at 0.92 g/t AuEq and 20 meters at 1.20 g/t AuEq extending to the bottom of the hole.
  • Results identified three styles of gold mineralization (hydrothermal breccia, porphyry veinlets, and quartz-mica-sulfide alteration), with grades exceeding the in-situ pit sulfide resource average of 0.70 g/t Au.
  • The Phase 3 campaign has completed 7 core holes totaling ~1,650 meters. Management plans to design an offset hole to DD05 to further explore the Choque Zone to depth, with metallurgical studies on sulfide materials planned for later in 2026.
Material Impact
  • The June 5, 2026 results are a direct continuation of the Phase 3 exploration program announced in November 2025 and previously updated in February and April 2026.
  • The intercepts are consistent with prior holes, confirming the presence of higher-grade sulfide extensions and base-metal mineralization (Cu, Pb, Zn) beneath the current resource envelope.
  • This is an expected, incremental update that validates the geological model but does not introduce fundamentally new information or alter the project's near-term development timeline.
  • The news does not change the company's immediate capital requirements or resolve the going concern uncertainty highlighted in the Q1 2026 financials. It is routine exploration progress.
NOM · Price
Company Overview
  • Norsemont Mining Inc. is an exploration-stage company focused on the Choquelimpie gold-silver-copper project in northern Chile.
  • The project features historical production (1988-1996) focused on near-surface oxidized ore. Current strategy targets deeper sulfide resource expansion and evaluation of an underlying copper-gold porphyry system.
  • Current Indicated Resource: 1.73M oz Au and 33.2M oz Ag.
  • Current Inferred Resource: 0.45M oz Au and 7.2M oz Ag.
  • Calculated using Au $2,500/oz, Ag $28/oz, Cu $4.00/lb.
Read the original news release →

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