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.
Highlights
- 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."
Further Details
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