Horizonte reports high grade +2% nickel drill results at Araguaia project

PUBLISHED: Jun 03 2015 @ 17:20 | Comments (0) |

What is next for Brazilian commodities

Horizonte Minerals Plc, (LSE:HZM) the nickel development company focused in Brazil, has announced the final results from its Phase 4 infill resource drilling programme at its 100% owned Araguaia nickel project in Para State, north central Brazil.

The drill programme is now complete and has demonstrated consistent high grade drill intersections.

Highlights:

· High grade nickel intersections from infill resource drilling on the Pequizeiro deposit include:

o 11.30 meters grading 2.95% Ni
o 9.21 meters grading 2.50% Ni
o 11.82 meters grading 2.39% Ni
o 14.05 meters grading 2.33% Ni
o 18.99 meters grading 2.27% Ni

· High grade nickel intersections from infill resource drilling on the Jacutinga deposit include:

o 4.44 meters grading 3.04% Ni
o 12.13 meters grading 2.43% Ni
o 17.44 meters grading 2.38% Ni
o 19.67 meters grading 2.07% Ni
o 17.30 meters grading 2.07% Ni

Horizonte CEO Jeremy Martin said, “It’s encouraging to report a significant number of high grade drill results (greater than 2% nickel) from our phase 4 mineral resource drilling programme at Araguaia. The full set of results have now been received for the drilling across the Pequizeiro and Jacutinga deposits, and these two areas will support the initial 8 to 10 years mine life. These results further support the high grade zones within the current NI 43-101 Mineral Resource Estimate, so we have an increased degree of confidence that we will not see any significant reduction in the planned nickel grades over the early period of mine life.

“We are making good progress on other areas of the Feasibility work at Araguaia. The full scale Rotary Kiln Electric Furnace pilot campaign is progressing to schedule and we look forward to providing updates on this work in due course””

Further Details:

The phase 4 mineral resource drilling programme was designed to complete infill drilling on 50 metre x 50 metre grids on selected parts of the Pequizeiro and Jacutinga deposits. The completed programme comprised a total of 310 holes totalling 10,255 metres, 261 holes totalling 8,764 metres on the Pequizeiro deposit and 49 holes totalling 1,491 metres on the Jacutinga deposit.

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