Horizonte expands Brazil prospects with four new concessions

Horizonte Minerals was expanding its Brazil prospects on Tuesday, revealing it had been awarded four new concession areas adjacent to its in-development Araguaia Nickel Project.

The AIM-traded nicked development company, with a focus in Brazil, said the two southern concessions totalled 15,674 hectares, and were in a prospective position adjacent to the Jacutinga and Pequizeiro deposits of the Araguaia project.

Two new northern concessions, which totalled 4,325 hectares, were located south of the recently-acquired Glencore project area, which contained the advanced Serra do Tapa nickel laterite deposit.

"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" said Horizonte CEO Jeremy Martin.

"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", he said.

Martin added that, in the shorter term, the company was focusing on the completion of the environmental and social base line data collection, and working towards obtaining the Preliminary Mine Licence.

Horizonte had further applications for 5,998 hectares filed with the Brazilian Mines Department for three additional concessions, located south of the Glencore project area.