sorry if repeat21 Feb 2011 14:36
Horizonte reveals positive results at Araguaia project
By BFN News | 02:04 PM | Monday 21 February, 2011
Horizonte Minerals PLC (HZM)
Horizonte Minerals has revealed positive initial results from the infill resource drilling programme on its 100%-owned Araguaia nickel project in Brazil. Results from first 15 holes from the infill drilling programme at the Pequizeiro West target returned best intersections of 15.9 metres grading 1.56% Ni. It said high grades zones include 6.9 metres grading 2.10% Ni. Horizonte CEO Jeremy Martin said: "The first batch of results from the infill resource drill programme at Araguaia have returned some highly encouraging nickel grades over good widths at the Pequizeiro West target, one of 15 target zones on the project. "Zones of near surface high grade mineralisation have also been identified by drill hole PCA-DD-0497 which returned 6.9 metres grading 2.10% Ni. "This clearly demonstrates the potential for a high grade resource within a large resource envelope, enhancing the overall economics of the project. "To date a total of 75 drill holes have been completed in this programme and with the extra drill rigs, the production will increase as we fast-track the infill drilling programme. "Work on the maiden resource calculation is now in its final stages and we anticipate this will be ready for release imminently. "Additionally, the process of selecting an engineering consulting group is underway to work alongside Horizonte as we start data collection and preparation work for the preliminary economic assessment which is expected to lead into the pre-feasibility study." Story provided by StockMarketWire.com
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