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Horizonte Minerals , (AIM:HZM) (TSX:HZM) the nickel development company focused in Brazil, has announced the award of four new concession areas adjacent to its Araguaia nickel project 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.
