Horizonte Minerals (LON:HZM, TSE:HZM) has completed its infill resource drilling programme at the Araguaia nickel project in Brazil on time and within budget.
New high grade nickel intersections from completed infill resource drilling on the Pequizeiro deposit include: 9.66 meters grading 2.28% nickel (Ni); 2.29 meters grading 2.17% Ni; 10.80 meters grading 2.13% Ni; and 20.17 meters grading 2.09% Ni.
Horizonte’s chief executive, Jeremy Martin, said the results continue to demonstrate the consistently high-grade nature of the mineralisation.
The aim of the programme is to convert the first seven to eight years of the modelled mine life to the measured resource category and thereby give a higher degree of confidence around the nickel mineralisation for this part of Araguaia's projected production, Martin said.
“We are now in the final phase of the geotechnical and hydrogeological drilling programme across the proposed process plant site, which will provide detailed information on ground conditions to assist in the design of the process plant structures. This will be completed in Q2 2015 and I look forward to providing further updates on this and infill resource assay results in due course," Martin revealed.
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