LONDON, UNITED KINGDOM–(Marketwired – April 25, 2017) – 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 three new mineral exploration concession areas adjacent to the Araguaia North deposits forming part of Horizonte’s 100% owned Araguaia nickel project (‘Araguaia’) which is being developed as the next major nickel project in Brazil.
Highlights
- Three new concessions awarded, totalling 1,748 ha, are located in prospective locations containing ultramafic intrusion of a similar type to those hosting the high-grade nickel resource at Araguaia’s Vale dos Sonhos deposit
- Further applications totaling an area of 6,186 hectares have also been filed with the Mines Department for two additional concessions also adjacent to the Araguaia North deposits
- Reconnaissance exploration programme will ascertain new drill targets that demonstrate potential for additional zones of new nickel mineralisation
- Feasibility Study is progressing on schedule and on budget for delivery by the end of 2017
Horizonte CEO Jeremy Martin said, “Whilst the Feasibility Study is underway at Araguaia we have also been busy adding to our land position. This forms part of our continuing strategy to consolidate the Araguaia nickel belt and provides future value uplift potential to increase our project nickel resources. The new concession areas lie adjacent to our high-grade Vale do Sonhos deposit and therefore they represent attractive exploration targets. As we advance Araguaia through the Feasibility Study and with drilling underway on site at the trial excavation area, we look forward to keeping the market updated with progress at this exciting time for Horizonte.”
Further Details
Two of the three new northern concessions are located adjacent to the Vale dos Sonhos nickel deposit. The geology of the new areas is characterised by the extensions of the mafic-ultramafic igneous rocks that host the nickel mineralisation underlying the deposit.
The geology of the third area is characterised by the southern extensions of the mafic-ultramafic igneous rocks that host nickel mineralisation to the north of the new licence area. A reconnaissance exploration programme will be undertaken across these new areas with the objective of developing new drill targets that demonstrate potential for additional zones of new nickel mineralisation.
With the award of these three new concession areas Horizonte now has a total of 26 active concessions, totalling 123,212 hectares in the Araguaia Nickel Belt. These comprise eleven concessions in Araguaia South and fifteen in Araguaia North.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
For further information visit www.horizonteminerals.com.
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 2019.
The Project has good infrastructure in place including rail, road, water and power.
Horizonte has a strong shareholder structure including Teck Resources Limited 17.9%, Lombard Odier Asset Management (Europe) Limited 14.11%, Richard Griffiths 13.8%, JP Morgan 8.98%, Hargreave Hale 6.84% and Glencore 6.4%%.
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.
Horizonte Minerals plc
+44 (0) 20 7763 7157
David Hall
Horizonte Minerals plc
+44 (0) 20 7763 7157
Emily Morris
finnCap Ltd (Corporate Broking)
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Christopher Raggett
finnCap Ltd (Corporate Finance)
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Lottie Brocklehurst
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