Horizonte gains three new concession areas in Brazil

25 July 2016 (Last Updated July 25th, 2016 18:30)

Nickel development company Horizonte Minerals has secured three new concession areas next to its recently acquired Glencore Araguaia Project (GAP) in Brazil.

Nickel development company Horizonte Minerals has secured three new concession areas next to its recently acquired Glencore Araguaia Project (GAP) in Brazil.

GAP forms part of the company’s wholly owned Araguaia nickel project. It is being developed as the next major nickel project in Brazil.

The new concessions granted for three years span 3,142ha and are located south of the GAP area bought by Horizonte last year. They contain advanced Vale dos Sonhos nickel laterite deposit.

GAP Horizonte CEO Jeremy Martin said: “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.

"The areas cover extensions of the ultramafic rocks that host the nickel laterite deposits."

“We will undertake a reconnaissance exploration programme to evaluate the potential of these new areas for additional nickel mineralisation.”

At present, work on the project focuses on gathering base line environmental and social data for the Vale dos Sonhos deposit.

The company is in the final stages of completing combined prefeasibility study set for release in the third quarter of this year.

Geology of the concession areas are characterised by southern extensions of the mafic-ultramafic igneous unit, which hosts nickel laterite mineralisation deposits to the north.

Horizonte currently has an additional three concessions totalling 5,998ha under application.

With the three new concession areas, the company now has a total of 19 active concessions totalling 113,314ha in the Araguaia Nickel Belt. 

They consist of 12 concessions in the original Horizonte Araguaia Nickel Project and seven concessions in the GAP area.