Horizonte talk Araguaia nickel project's high grade drill results

PUBLISHED: 26 Jan 2015 @ 20:18 | Comments (0) |

Spare a new nickels to buy some stock?

Horizonte Minerals Plc, (LSE:HZM) the nickel development company focused in Brazil, has announced new high grade drill intersections from recent bulk sampling drilling and provide an update on the ongoing work related to the Feasibility Study at its 100% owned Araguaia nickel project in Para State, north central Brazil.

Highlights:

· High grade nickel assay intersections received to date for the first 15 holes from the bulk sample drilling include (all results in table 1):

o 12.47 meters grading 2.17% Ni
o 12.45 meters grading 2.13% Ni
o 13.35 meters grading 2.07% Ni
o 13.95 meters grading 1.99% Ni

· Drill programme on schedule with 113 diamond holes drilled (2,188 meters) completed
· Further infill drilling results due from the Pequizeiro Deposit where drilling is currently underway
· Significant progress made on the Environmental and Social work for Araguaia – Public Hearing process for the preliminary environmental licence is imminent
· On track to commence bulk sampling collection early February 2015 with a 200 tonne bulk sample to be used to feed a continuous large scale pilot plant in Q2 2015 with initial dryer/agglomerator commissioning and trials commencing by the end of January 2015

Horizonte CEO Jeremy Martin said, “We are making good progress on the Feasibility work at Araguaia with the drilling and collection of the 200 tonne bulk sample running to schedule. The drill results received from the bulk sample sites confirm the high nickel grades that are scheduled for the early part of Araguaia’s mine life. The next major step will be the running of the pilot programme with the aim of confirming the detailed design parameters around the Rotary Kiln Electric Arc Furnace process and the production of nickel.

“Despite the current challenging market conditions, the Company is on track to deliver the planned milestones during 2015; we have a solid funding position; and the ongoing results from Araguaia continue to deliver. The fundamentals behind the nickel markets over the next 24 to 36 months from consensus forecasts are positive. This combined with the use of a proven processing route (RKEF) to produce ferronickel and Araguaia’s favourable mining jurisdiction make a strong investment case for our flagship development project. I look forward to providing further updates throughout the year as we move Araguaia through the Feasibility process.”

CLICK HERE TO REGISTER FOR FREE ON ADVFN, the world's leading stocks and shares information website, provides the private investor with all the latest high-tech trading tools and includes live price data streaming, stock quotes and the option to access 'Level 2' data on all of the world's key exchanges (LSE, NYSE, NASDAQ, Euronext etc).

This area of the ADVFN.com site is for independent financial commentary. These blogs are provided by independent authors via a common carrier platform and do not represent the opinions of ADVFN Plc. ADVFN Plc does not monitor, approve, endorse or exert editorial control over these articles and does not therefore accept responsibility for or make any warranties in connection with or recommend that you or any third party rely on such information. The information available at ADVFN.com is for your general information and use and is not intended to address your particular requirements. In particular, the information does not constitute any form of advice or recommendation by ADVFN.COM and is not intended to be relied upon by users in making (or refraining from making) any investment decisions. Authors may or may not have positions in stocks that they are discussing but it should be considered very likely that their opinions are aligned with their trading and that they hold positions in companies, forex, commodities and other instruments they discuss.