Horizonte - High Grade Nickel (+2% Ni) results

PUBLISHED: Apr 19 2015 @ 04:42 | Comments (0) |

NEW HIGH GRADE DRILL RESULTS FROM INFILL MINERAL RESOURCE DRILLING PROGRAMME AT THE ARAGUAIA NICKEL PROJECT, BRAZIL

Horizonte Minerals Plc, (LSE:HZM) the nickel development company focused in Brazil, has announced the completion of its infill resource drilling programme at its 100% owned Araguaia nickel project in Para State, north central Brazil where initial results have demonstrated significant new high grade drill intersections (>2% Ni).

Highlights:

· New high grade nickel intersections from completed infill resource drilling on the Pequizeiro deposit include:

o 9.66 meters grading 2.28% Ni
o 2.29 meters grading 2.17% Ni
o 10.80 meters grading 2.13% Ni
o 20.17 meters grading 2.09% Ni

· Seven rig, 10,255 metre infill resource drill programme designed to convert initial 7-8 years of the 25 year modelled mine life to the Measured resource category
· Final infill drill results due Q2 2015

Horizonte CEO Jeremy Martin said, “We have completed the infill resource drilling programme at Araguaia on time and within budget; with the initial results received to date continuing to demonstrate the consistent high grade nature of the mineralisation. The aim of the programme is to convert the first 7 to 8 years of the modelled mine life to the Measured Resource category and in the process give a higher degree of confidence around the nickel mineralisation for this part of Araguaia’s projected production.

“In addition, we are now in the final phase of the geotechnical and hydrogeological drilling programme across the proposed process plant site which will provide detailed information on ground conditions to assist in the design of the process plant structures. This will be completed in Q2 2015 and I look forward to providing further updates on this and infill resource assay results in due course.”

The phase 4 mineral resource drilling programme was designed to complete infill drilling on 50m x 50m 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. The results received to date for 43 holes on the Pequizeiro deposit are presented in Table 1 below. These results contain several high grade intersections including 9.66 meters grading 2.28% nickel (hole PCA_DD_1518), 2.29 meters grading 2.17 nickel (hole PCA_DD_1507), 10.80 meters grading 2.13% nickel (hole PCA_DD_1511) and 20.17 meters grading 2.09% nickel (hole PCA_DD_1477).

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