NORSEMONT MINING INC
Peru
Norsemont Mining: Geological Background
Norsemont Mining (NOM · CF) · Peru
Norsemont Mining owns a 100% interest in the Choquelimpie gold-silver-copper project in the Arica-Parinacota Region of northern Chile…
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Analysis by Bill Pearson, PhD, P.Geo
Updated Jul 30, 2026
Norsemont Mining owns a 100% interest in the Choquelimpie gold-silver-copper project in the Arica-Parinacota Region of northern Chile, approximately 185 km east of Arica near the Bolivian border. The project includes an historic mine operated by Shell and Northgate which is reported to have produced 415,000 oz gold and 2 million oz silver mine with significant exploration upside. Choquelimpie has over 1,710 historic drill holes, with significant existing infrastructure, including roads, power, water, camp and a 3,000-tonne-per-day mill.
The Company is developing its flagship Choquelimpie project through to bankable feasibility, with a 2025 indicated mineral resource estimate of 81.9 million tonnes at 0.66 g/t Au (1,731,000 oz Au), and 12.6 g/t Ag (33,233,000 oz Ag) and an inferred mineral resource of 25.3 million tonnes at 0.55 g/t Au (446,000 oz Au and 8.9 g/t Ag (7,219,000 oz Ag). The resource includes both oxide (~30% of indicated) and sulphide (~70% of indicated) mineralization, providing potential opportunities for staged development.
Geologically, Choquelimpie is a high-sulphidation epithermal gold-silver system developed within a Miocene volcanic complex. Gold, silver and copper mineralization occurs within hydrothermal breccias, volcanic rocks and intensely altered structures characterized by advanced argillic alteration, silicification and widespread sulphide mineralization. The epithermal deposits may represent the upper portion of a much larger epithermal-porphyry gold-copper system, with increasing evidence for a concealed porphyry centre beneath the currently defined resource.
The combination of a sizeable existing resource, significant infrastructure, large historical database and strong exploration upside positions Choquelimpie as one of the more advanced undeveloped precious metals projects in northern Chile.
NEWS RELEASES
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Actual holdings will vary for each client or fund and there is no guarantee that a particular account will hold any or all of the securities discussed. All investing involves risk including risk of loss. Crescat target resource estimates (TSE) are based on internal modeling and geologic estimates, and include various assumptions based on analysis of geology, geophysics, geochemistry, historic drill assays, and metallurgical recovery data received to date. TSE are discounted based on drilling progress to date, an assessment of the management and technical team's strengths and weaknesses affecting their ability to advance the project, and environmental, local community, and government permitting risk factors. Estimates are displayed on a gold equivalent basis based on current price-to-gold ratios for silver, copper, and other metals if the primary metal is other than gold. Further drilling, assaying, resource modeling, and engineering studies will be required to determine whether Crescat's TSE can be reasonably expected to be achieved. Crescat's target resource estimates are updated monthly across the entire portfolio. Sources: Crescat Capital LLC, Bloomberg, Issuer. Expected profitability percentile is based on Crescat's geologic estimates of projected grades, recoveries, capex, and operational costs on the primary project compared to the universe of operating mines. This value does not project overall anticipated company profitability.