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.
- 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)."
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
For further information: visit www.horizonteminerals.com or contact: Jeremy Martin, Horizonte Minerals plc, Tel: +44 (0) 20 7763 7157; David Hall, Horizonte Minerals plc, Tel: +44 (0) 20 7763 7157; Joanna Weaving, finnCap Ltd (Corporate Broking), Tel: +44 (0) 20 7220 0500; Christopher Raggett, finnCap Ltd (Corporate Finance), Tel: +44 (0) 20 7220 0500; Felicity Winkles, St Brides Partners Ltd (PR), Tel: +44 (0) 20 7236 1177; Lottie Brocklehurst, St Brides Partners Ltd, Tel: +44 (0) 20 7236 1177