The New Concession is located approximately 60 kilometres north of Horizonte’s 100% owned high-grade Araguaia nickel project in Para State, north central Brazil which the Company is developing towards production.
Highlights
New Concession is located in a prospective and strategic position – in line with the Company’s strategy of expanding its position in the Araguaia Nickel District
Applications for five additional concessions to the south of Glencore’s nickel projects and two new concessions on the south western side of the existing Horizonte Araguaia properties have also been filed with the Mines Department – combined area under application is 25,997 hectares
Horizonte CEO Jeremy Martin said, "I am delighted to announce the award of this new concession area which sees us increase our land holding in Brazil where we are developing the country’s next major nickel project. It has always been our intention to grow our position northwards from our flagship Araguaia project with the objective of consolidating the district. This new area is adjacent to Glencore’s advanced nickel projects which have major resources similar to Araguaia and the area shows prospective geology which may have the potential to host additional nickel mineralisation. Furthermore we have a number of other new concession applications pending with the Mines Department which we look forward to reporting on in due course.
"Despite tough market conditions Horizonte is still active at Araguaia. Work is on-going on the environmental and social base line data collection at site, and we aim to finalise the test work results from the Rotary Kiln Electric Furnace pilot plant campaign shortly."
Further Details
The New Concession No. 850884 granted for three years, totalling 1,610 hectares is located in a prospective, strategic position south of Serra do Tapa, south-west of the Vale dos Sonhos and south-east of the Pau Preto nickel laterite deposits held by Glencore. The geology of the area is characterised on its western flank by the southern extension of the mafic igneous unit hosting the Pau Preto nickel laterite occurrence 10 kilometres to the north.
Horizonte Minerals currently has an additional seven concessions under application with a total area of 29,997 hectares. Five of these applications are in strategically important locations south of the Glencore and Araguaia concessions. The remaining two applications are for concessions on the south western side of Araguaia.
