Norsemont Advances Choquelimpie Drilling as Early Results Support Resource Expansion

Norsemont Capital ( (TSE:NOM) ) has shared an announcement.

Norsemont Mining has completed the first seven holes of its Phase 3 drill program at the Choquelimpie project in Chile, totaling 1,650 meters and targeting down-dip extensions of higher-grade gold zones within hydrothermal breccias. Drilling has been temporarily halted due to the seasonal Altiplano Winter, with operations expected to resume in April 2026 to finish the planned 5,000-meter, 20-hole campaign.

Initial assay results from the 2025 drilling, including two fully assayed holes and partial data from others, indicate intersections of higher-grade hydrothermal breccia bodies at depth, supporting the potential to expand the open-pit resource and overall breccia pipe dimensions. Management is also advancing planning and permitting for a more extensive Phase 4 drill program in 2026, underscoring a sustained effort to build resource confidence and scale at Choquelimpie.

The most recent analyst rating on (TSE:NOM) stock is a Hold with a C$1.00 price target. To see the full list of analyst forecasts on Norsemont Capital stock, see the TSE:NOM Stock Forecast page.

Spark’s Take on TSE:NOM Stock

According to Spark, TipRanks’ AI Analyst, TSE:NOM is a Neutral.

Score is held back primarily by weak financial performance (no revenue, widening losses, and persistent cash burn). Technicals are constructive with price well above key moving averages, but overbought RSI/Stoch temper the setup. Valuation is also constrained by negative earnings and no dividend support.

To see Spark’s full report on TSE:NOM stock, click here.

More about Norsemont Capital

Norsemont Mining Inc. is a Canadian exploration company focused on advancing its Choquelimpie gold project in Chile. The company targets higher-grade gold mineralization hosted in hydrothermal breccia zones, with an emphasis on expanding open-pit resources and defining the size and continuity of breccia-hosted deposits in a key South American mining jurisdiction.

Average Trading Volume: 166,364

Technical Sentiment Signal: Buy

Current Market Cap: C$86.93M

See more insights into NOM stock on TipRanks’ Stock Analysis page.