LONDON,
Feb. 9, 2016 /CNW/ - Horizonte Minerals Plc, (AIM: HZM,
TSX: HZM) ('Horizonte' or 'the Company') the nickel development
company focused in Brazil, is
pleased to announce the award of four new concession areas adjacent
to its Araguaia nickel project ('Araguaia') which is being
developed as the next major nickel project in Brazil.
Highlights
- Two new southern concessions, totalling 15,674 hectares, are
located in a prospective position adjacent to the Jacutinga and
Pequizeiro deposits of the Araguaia Nickel project
- Two new northern concessions, totalling 4,325 hectares, are
located south of the recently acquired Glencore project 'GAP' area
containing the advanced Serra do Tapa nickel laterite deposit
- Further applications for 5,998 hectares are also filed with the
Mines Department for three additional concessions to the south of
the GAP project area
Horizonte CEO Jeremy
Martin said, "I am pleased to announce the award of these
new concession areas, further consolidating our land position in
the Araguaia district. Following the acquisition of the
Glencore project in late 2015 we have been actively identifying any
new target areas that may have potential to host additional nickel
mineralisation adjacent to our existing resources.
Furthermore we have a number of other new concession applications
pending with the Mines Department.
"We are currently working on integrating the
Glencore project with our existing resources, updating the project
economics with the aim of delivering an updated 43-101
Pre-Feasibility study in H2 2016. In the shorter term we are
focused on the completion of the Environmental and Social base line
data collection and working towards obtaining the Preliminary mine
Licence (LP)."
Further Details
The two new southern concessions, granted for
three years and totalling 15,674 hectares, are located in
prospective and strategic positions adjacent to the Jacutinga and
Pequizeiro deposits at the Araguaia Nickel Project. The
geology of the new areas is an extension of the geology in the
adjacent permits hosting the aforementioned nickel laterite
deposits.
The two new northern concessions, granted for
three years and totalling 4,325 hectares, are located south of the
recently acquired Serra do Tapa nickel laterite deposit from
Glencore. The geology of the area is characterised on their
eastern halves by the southern extensions of the mafic-ultramafic
igneous unit hosting nickel laterite deposits to the north.
Horizonte currently has an additional three
concessions with a total area of 5,998 hectares under
application.
With the award of these four new concession areas
Horizonte now has a total of 16 active concessions totalling
110,172.28 hectares in the Araguaia Nickel Belt. These comprise 12
concessions in the original Horizonte Araguaia Nickel Project plus
four concessions in the area of the Glencore Araguaia Project
including the concession containing the Vale dos Sonhos
deposit.
About Horizonte Minerals:
Horizonte
Minerals plc is an AIM and TSX-listed nickel development company
focused in Brazil, which wholly
owns the advanced Araguaia nickel laterite project located to the
south of the Carajas mineral district of northern Brazil. The
Company is developing Araguaia as the next major nickel mine in
Brazil, with targeted production
by 2018.
The Project, which has excellent infrastructure
in place including rail, road, water and power has a current NI
43-101 compliant Mineral Resource of 71.98Mt grading 1.33% Ni
(Indicated) and 25.4Mt at 1.21% Ni (Inferred) at a 0.95% nickel
cut-off; included in Resources is a Probable Reserve base of 21.2Mt
at 1.66%Ni.
Horizonte has a strong shareholder structure
including Teck Resources Limited 38.5%, Henderson Global Investors
14%.
CAUTIONARY STATEMENT REGARDING FORWARD
LOOKING INFORMATION
Except for statements of historical fact
relating to the Company, certain information contained in this
press release constitutes "forward-looking information" under
Canadian securities legislation. Forward-looking information
includes, but is not limited to, statements with respect to the
potential of the Company's current or future property mineral
projects; the success of exploration and mining activities; cost
and timing of future exploration, production and development; the
estimation of mineral resources and reserves and the ability of the
Company to achieve its goals in respect of growing its mineral
resources; and the realization of mineral resource and reserve
estimates. Generally, forward-looking information can be identified
by the use of forward-looking terminology such as "plans",
"expects" or "does not expect", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates" or
"does not anticipate", or "believes", or variations of such words
and phrases or statements that certain actions, events or results
"may", "could", "would", "might" or "will be taken", "occur" or "be
achieved". Forward-looking information is based on the reasonable
assumptions, estimates, analysis and opinions of management made in
light of its experience and its perception of trends, current
conditions and expected developments, as well as other factors that
management believes to be relevant and reasonable in the
circumstances at the date that such statements are made, and are
inherently subject to known and unknown risks, uncertainties and
other factors that may cause the actual results, level of activity,
performance or achievements of the Company to be materially
different from those expressed or implied by such forward-looking
information, including but not limited to risks related to:
exploration and mining risks, competition from competitors with
greater capital; the Company's lack of experience with respect to
development-stage mining operations; fluctuations in metal prices;
uninsured risks; environmental and other regulatory requirements;
exploration, mining and other licences; the Company's future
payment obligations; potential disputes with respect to the
Company's title to, and the area of, its mining concessions; the
Company's dependence on its ability to obtain sufficient financing
in the future; the Company's dependence on its relationships with
third parties; the Company's joint ventures; the potential of
currency fluctuations and political or economic instability
in countries in which the Company operates; currency exchange
fluctuations; the Company's ability to manage its growth
effectively; the trading market for the ordinary shares of the
Company; uncertainty with respect to the Company's plans to
continue to develop its operations and new projects; the Company's
dependence on key personnel; possible conflicts of interest of
directors and officers of the Company, and various risks associated
with the legal and regulatory framework within which the Company
operates.
Although management of the Company has
attempted to identify important factors that could cause actual
results to differ materially from those contained in
forward-looking information, there may be other factors that cause
results not to be as anticipated, estimated or intended. There can
be no assurance that such statements will prove to be accurate, as
actual results and future events could differ materially from those
anticipated in such statements.
SOURCE Horizonte Minerals plc