Positive results from infill drilling programme & successful
metallurgical testing at Araguaia Nickel Project, Brazil
TORONTO, Jan. 8, 2013 /CNW/ - Horizonte Minerals Plc,
(AIM: HZM), (TSX: HZM) ('Horizonte' or 'the Company') the
exploration and development company focused in Brazil, is pleased to announce continuing
positive results from the on-going infill resource drilling
programme at its 100% owned Araguaia Nickel Project ('Araguaia') in
Para State, north central Brazil.
Highlights
- 81 holes (2,653 metres) of the infill drill programme completed
to date (commenced on 18 September
2012) targeting the Jacutinga, Vila Oito, Vila Oito East and
Pequizeiro West targets at Araguaia
- New high grade intersections at the Jacutinga target
include:
-
- 23.2 metres grading 2.09% Ni (including 10.1 metres grading
2.91% Ni)
- 9.1 metres grading 2.11% Ni
- 16.2 metres grading 1.73% Ni
- 14.1 metres grading 1.62% Ni
- FLSmidth confirmed Araguaia ore is suitable for metallurgical
treatment via the high temperature Rotary Kiln-Electric Furnace
route, a proven process technology
- Pre-Feasibility Study contract expected to be awarded in Q1
2013
Horizonte CEO Jeremy
Martin said, "There is a considerable amount of activity
taking place at the Araguaia Project. We currently have four
drill rigs operating on the infill resource drilling programme with
the aim of completing 7,000 metres of drilling to convert
approximately 50 million tonnes of the higher grade material to the
Indicated Category. The drilling at the Jacutinga target was
completed in December 2012 and we are
pleased to report a number of high grade intercepts including 23.2
metres grading 2.09% nickel.
"In addition to the resource drilling programme,
we have just completed metallurgical test work with the global
leader in high temperature kiln technology, FLSmidth.
The test work was designed to evaluate the expected ore performance
in rotary kiln processing and we are pleased to report that
Araguaia ore was found to be suitable for treatment using this
technology. Rotary kiln processing is a key step in the well
established Rotary Kiln-Electric Furnace pyro-metallurgical process
that we are aiming to utilise at Araguaia. Consequently, the
success of the metallurgical test work marks another major step in
de-risking Araguaia and demonstrates that the ore can be processed
using proven technology. Work is now focused on moving the
project into the pre-feasibility stage and we hope to award the
pre-feasibility study contract in Q1 2013."
Further Details
The drill results have been collated from the
Phase 3 mineral resource drilling programme that commenced in
September 2012. This programme
is designed to complete infill drilling on 100 metre x 100 metre
grids on the Jacutinga, Vila Oito, Vila Oito East and Pequizeiro
West targets of the Araguaia Nickel Project in Brazil. To date, 81 holes (2,653 metres)
have been completed. The results from 24 holes (808 metres)
from the Jacutinga target received to date are detailed in Table
1. The results contain several wide, high-grade
intersections, including 23.2 metres grading 2.09% nickel (Hole
PCA-DD-1111). This intersection includes a continuous length
of 10.10 metres grading 2.91% nickel; 9.09 metres grading 2.11%
nickel (Hole PCA-DD-1103); 16.1 metres grading 1.73% nickel (Hole
PCA-DD-1118) and 14.1 metres grading 1.62% nickel
(PCA-DD-1122).
Table 1.
Jacutinga Drilling Programme |
100m x 100m
Infill Drilling |
Intercepts ≥1% Ni
cut-off |
Holes PCA-DD-1100
to PCA-DD-1106; |
PCA-DD-1108 to
PCA-DD-1112; |
PCA-DD-1114 to
PCA-DD-1118; |
PCA_DD_1120 to
PCA-DD-1125; |
PCA-DD-1127 |
Hole |
From
(m) |
To
(m) |
Width
(m) |
Ni
% |
Co
% |
|
PCA-DD-1100 |
13.76 |
18.24 |
4.48 |
1.09 |
0.01 |
PCA-DD-1101 |
NSI |
PCA-DD-1102 |
NSI |
PCA-DD-1103 |
3.30 |
12.39 |
9.09 |
2.11 |
0.09 |
PCA-DD-1104 |
NSI |
PCA-DD-1105 |
NSI |
PCA-DD-1106 |
NSI |
PCA-DD-1107 |
Results Awaited |
PCA-DD-1108 |
3.56 |
28.64 |
25.08 |
1.29 |
0.05 |
PCA-DD-1109 |
NSI |
PCA-DD-1110 |
NSI |
PCA-DD-1111 |
5.93 |
29.13 |
23.20 |
2.09 |
0.10 |
Including |
7.82 |
17.92 |
10.10 |
2.91 |
0.13 |
PCA-DD-1112 |
NSI |
PCA-DD-1113 |
Results Awaited |
PCA-DD-1114 |
5.08 |
9.32 |
4.24 |
1.39 |
0.09 |
PCA-DD-1115 |
13.36 |
15.60 |
2.24 |
1.71 |
0.08 |
PCA-DD-1116 |
18.74 |
25.74 |
7.00 |
1.35 |
0.06 |
& |
35.74 |
40.50 |
4.76 |
1.09 |
0.03 |
PCA-DD-1117 |
5.17 |
9.20 |
4.03 |
1.32 |
0.06 |
PCA-DD-1118 |
2.05 |
18.23 |
16.18 |
1.73 |
0.07 |
& |
22.56 |
26.11 |
3.55 |
1.19 |
0.01 |
& |
29.29 |
31.48 |
2.19 |
1.15 |
0.02 |
PCA-DD-1119 |
Results Awaited |
PCA-DD-1120 |
NSI |
PCA-DD-1121 |
NSI |
PCA-DD-1122 |
12.75 |
26.85 |
14.10 |
1.62 |
0.09 |
& |
34.10 |
37.18 |
3.08 |
1.04 |
0.04 |
PCA-DD-1123 |
5.48 |
12.30 |
6.82 |
1.19 |
0.04 |
PCA-DD-1124 |
NSI |
PCA-DD-1125 |
8.68 |
16.20 |
7.52 |
1.64 |
0.04 |
PCA-DD-1126 |
Results Awaited |
PCA-DD-1127 |
6.66 |
16.43 |
9.77 |
1.51 |
0.05 |
NSI: No significant intersection
The compositing of the nickel grades in the
individual holes was completed across geological boundaries using a
nickel cut-off of 1% with a minimum intercept length of 2.0 metres
and a maximum length of internal waste of 2 metres. All holes were
vertical and as these nickel laterite deposits are essentially
flat-lying, all widths given are true widths.
Sample preparation and analyses
Samples from drill core were crushed and
pulverised at the SGS laboratory in Goiania and the resultant pulps
analysed at the SGS laboratory in Belo
Horizonte using tetraborate fusion and X-Ray Fluorescence
('XRF'). Full QA/QC procedures were followed, including the
insertion of standards, duplicates and blanks. Check samples
representing approximately 5% of all the samples, will be sent to
another international laboratory for analysis by XRF.
FLSmidth Kiln Test Work
Two blends of Araguaia laterite were submitted
to the laboratories of FLSmidth (http://www.flsmidth.com) located
in Bethlehem, Pennsylvania, USA,
for rotary kiln evaluation testing. The overall results of
the study show that Araguaia ore is suitable for rotary kiln
processing; a range of suggested kiln operating conditions were
indicated. The testwork included the following:
- Physical analysis, including moisture content, bulk density,
angle of repose, wet and dry particle size distribution and
particle degradation in tumble testing;
- Chemical analysis and ore thermal analysis;
- Ore reduction and sintering tests including small scale
briquetting tests.
The determined properties of the two Araguaia
blends show that the material is amenable to high temperature kiln
processing. The dry particle size distribution data and the
results of the tumble testing were found to be generally comparable
to those of a number of laterite ores currently handled in
commercial Rotary Kiln-Electric Furnace operations. The sintering
tests established the range of kiln operating temperatures.
In the ore reduction tests, the degree of iron reduction was
considered normal, and while a somewhat lower degree of nickel
reduction was obtained, this result does not materially affect
overall Rotary Kiln-Electric Furnace performance. Some additional
metallurgical testwork is on-going and is expected to be completed
during Q1 2013. This includes a mineralogical study on one of
the ore blends tested at F.L. Smidth, and measurements of the
Araguaia slag melting point.
Horizonte Minerals prepared this news release
and Andrew F. Ross MSc., P.Geo., FAusIMM (CP), of Snowden Mining
Industry Consultants Pty.Ltd,, a Qualified Person under National
Instrument 43-101, reviewed and approved the drillhole technical
information.
* * ENDS * *
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX listed
exploration and development Company with a portfolio of nickel and
gold projects in the Carajas District of Brazil. The Company is focussed on
creating value by generating and rapidly advancing exploration
projects in tandem with joint ventures with major mining companies,
providing mid-term cash flow, which is then used to develop the
business and pipeline projects.
Horizonte has two committed major mining
partners: Teck Resources Limited, a major strategic shareholder in
the Company, and AngloGold, a JV partner on the Falcao gold
project.
Horizonte owns 100 per cent of the advanced
Araguaia Nickel Project located to the south of the Carajas mineral
district of northern Brazil. The
project has defined a resource with size and grades comparable to
other world-class projects in northern Brazil and the Company has completed a
Preliminary Economic Assessment on the project which illustrates
robust economics based on low strip ratio, good infrastructure,
large mineral resource with two viable alternatives for
processing.
Horizonte is well funded to accelerate the
development of its core project.
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