Horizonte Minerals Plc, 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 which is being developed as the next major nickel project in Brazil.
- 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."