Horizonte awarded three new concession areas at Araguaia Nickel Project, Brazil
26 Jul, 2016, 02:00 ET
LONDON, July 26, 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 three new concession areas adjacent to its recently acquired Glencore Araguaia Project ('GAP') which forms part of the Company's 100% owned Araguaia nickel project ('Araguaia') which is being developed as the next major nickel project in Brazil.
- Three new concessions, totalling 3,142 hectares, are located south of the Glencore Araguaia project 'GAP' area acquired last year by Horizonte containing the advanced Vale dos Sonhos nickel laterite deposit
- Further applications for 5,998 hectares are also filed with the Mines Department for three additional concessions near the southern limit of the acquired GAP
Horizonte CEO Jeremy Martin said, "Following on from the recent award of the Preliminary Licence ('LP') at Araguaia, I am pleased to announce the award of three new exploration concessions. The areas cover extensions of the ultramafic rocks that host the nickel laterite deposits which we acquired as a part of the Glencore Araguaia Project transaction in Q4 2015. We will undertake a reconnaissance exploration programme to evaluate the potential of these new areas for additional nickel mineralisation. In addition, based on generative work recently completed, we have applied for three further licence areas, which is in line with our strategy to consolidate our land position in the district.
"Work on the project is currently focused on collection of base line environmental and social data for the Vale dos Sonhos deposit as we continue to integrate the Glencore Project into Araguaia. We are in the final stages of completing the new combined Pre-Feasibility Study which is due for release in Q3 2016. It is also positive to see an improvement in the nickel price during the last quarter, and I believe this is well aligned with the development milestones set for Araguaia as we move towards the Feasibility Study. I look forward to updating the market over the next quarter."
The geology of the new concession areas are extensions of the geology that hosts the GAP deposit which was acquired by Horizonte in Q4 2015.
The three new northern concessions, granted for three years and totalling 3,142 hectares, are located south of the Vale dos Sonhos deposit. The geology of the areas are characterised by the southern extensions of the mafic-ultramafic igneous unit hosting nickel laterite mineralisation /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 three new concession areas Horizonte now has a total of 19 active concessions totalling 113,314 hectares in the Araguaia Nickel Belt. These comprise 12 concessions in the original Horizonte Araguaia Nickel Project plus seven concessions in the area of the Glencore Araguaia Project including the concession containing the Vale dos Sonhos deposit.
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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, which has good infrastructure in place including rail, road, water and power.
Horizonte has a strong shareholder structure including Teck Resources Limited 28.1%, Henderson Global Investors 17.0%.
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; Lottie Brocklehurst, St Brides Partners Ltd (PR), Tel: +44 (0) 20 7236 1177; Elisabeth Cowell, St Brides Partners Ltd, Tel: +44 (0) 20 7236 1177
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