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
