Norsemont Mining Inc. Advances Choquelimpie Project with Phase‑3 Drilling

Norsemont Mining Inc. (CSE: NOM, OTC: NRRSF, FWB: LXZ1) has announced a significant escalation in its exploration efforts at the Choquelimpie project in northern Chile. On 20 November 2025, the company commenced its first diamond drill hole, MV25‑DD01, under the Phase‑3 exploration program, and confirmed the arrival of a second drill rig to support the campaign. The drilling is focused on the Vizcacha hydrothermal breccia, a zone known for higher‑grade gold mineralization within the strongly sulphidic gold‑silver‑copper system that characterises the site.

Execution of Phase‑3 Drilling

The Phase‑3 program is designed to drill up to 5,000 m of diamond drill holes (DDH) to map the extent of the target mineralisation. The first hole, MV25‑DD01, was already initiated when the second drill rig was brought onsite. Drilling operations are scheduled to continue through December, with the expectation that the data will refine the resource estimate and support a transition to a development‑stage model.

Market Context

The company’s market presence is centred on the Canadian National Stock Exchange, where its share price closed at CAD 0.90 on 20 November 2025. Despite a negative price‑earnings ratio of –25.12, Norsemont remains an exploration‑stage entity with a market cap of approximately CAD 67.6 million. The 52‑week high of CAD 1.15 and low of CAD 0.135 underscore the volatility typical of junior miners in the metals and mining sector.

Strategic Implications

By accelerating drilling at Choquelimpie, Norsemont seeks to unlock a resource that could reposition the company from a purely exploration stage to a development pipeline. The focus on a sulphidic system that hosts multiple metals aligns with global demand for diversified mineral portfolios. If the Phase‑3 data confirms robust grades, the company could pursue a more aggressive capital‑raising strategy, leveraging its Canadian listing and the growing investor appetite for high‑potential mining assets.

Forward‑Looking Perspective

The timely deployment of two drill rigs indicates operational momentum. Should the upcoming data confirm the presence of economically viable mineralisation, Norsemont could accelerate its transition to a resource‑driven company, potentially unlocking significant shareholder value. Investors will be closely monitoring the December drilling results, as they will dictate the next phase of project development and potential partnerships or financing options.