HZM.L Regulatory News (HZM)

8 Jun 2007 12:10

Horizonte Minerals PLC08 June 2007 Horizonte Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining 8th June 2007 Horizonte Minerals plc ('Horizonte' or 'the Company') AGM Statement Horizonte Minerals plc, the AIM listed exploration and development companyfocused on Brazil and Peru, held its AGM yesterday and all resolutions were dulypassed. At the meeting, CEO Jeremy Martin made the following statement: "During the year we have made considerable progress advancing our portfolio ofexploration projects in Brazil and Peru and shareholders now have exposure togold, silver, zinc and nickel, through the Company's core projects. The Boardbelieves that work conducted to date demonstrates that there is potential for amajor mineralised system to exist on all three projects. "At the Tangara gold project in Brazil, we have completed the first phasedrilling which resulted in an economic discovery intercept. Follow-up work,concluding in a detailed geophysical programme, has defined a large target areaopen in both directions outboard from the discovery hole. Diamond drillingcommenced today to test the continuity of this zone. At the El Aguilasilver-zinc project in Peru, work has concentrated on increasing that targetsize at Pacos Hill and defining the Zona Sur targets for drilling. Thegeological model developed for the Zona Sur, based on the recent geophysicalprogramme, demonstrates excellent continuity between the structural, geochemicaland geophysical anomalies, and we are very excited to drill test this zone. "We have increased our exploration portfolio and given shareholders exposure tonickel with the generation and award of potentially exciting new projects. Theseinclude, the Crixas project, a 4,660 hectare on the prospective Achaean agedgreenstone belt, where multiple nickel-copper anomalies have been defined andthe 25,556 hectare Lontra Ni Project, situated in the Araguaia mobile belt,which flanks the eastern margin of the Carajas Mineral Province of northernBrazil. Exploration on these projects is now underway to generate drill targets. "We have a proven business strategy of identifying and generating early stageexploration targets that demonstrate the potential to host major mineral systemsand secure control of district scale licence areas. We have an excellent team inplace, which has been strengthened over the last six months and we are nowstarting to see interest from the major companies impressed by the quality ofthe exploration targets generated by the Company. "The aim for the next 12 months is to grow the Company organically through theadvancement of the current project portfolio, selective acquisition and byforming strategic associations with the major mining companies. The Boardbelieves that Horizonte is now in a strong position to benefit from the currentcommodity prices and geographic location in turn delivering enhanced shareholdervalue." * * ENDS * * For further information visit www.horizonteminerals.com or contact: Jeremy Martin/David Hall Horizonte Minerals plc Tel: 020 7495 5446David Paxton Hichens Harrison Tel: 020 7382 7785Hugo de Salis St Brides Media & Finance Ltd Tel: 020 7242 4477John Frain/Fergal Meegan Davy Tel: +353 1 679 6363 Notes to Editors: Horizonte Minerals Plc is an AIM listed mineral resources exploration groupfocused on the discovery, appraisal and development of gold and base metaldeposits in Brazil and Peru. The Group's has two flagship gold explorationprojects in Brazil, and one silver-zinc-lead project in Peru as well asadditional gold, zinc and nickel exploration projects in Brazil. The twoBrazilian gold projects, Tangara and Falcao, are located to the south of thehighly prospective Carajas Mineral Province. Both projects cover an area ofapproximately 300 sq km and are centred over greenstone belts, with known goldmineralisation. The scale of these project areas, the overall aerial extent ofthe mineralised system and the high density and magnitude of related goldanomalies (identified in river sediments, surface soils and rocks), indicate thepotential for multiple deposit discoveries. The silver-zinc-lead project islocated in the historic mining district of Cerro de Pasco in Central Peru.Sampling and limited historic drilling on this project has demonstrated the highgrade potential of this project. The Group has a joint venture with Australiangold producer Troy Resources NL's 70% owned local subsidiary Sertao MineracaoLtda to advance its Goias Velho gold exploration project in Brazil. Additionalprojects include the 4,660 hectare on the prospective Achaean aged Crixasgreenstone belt, where multiple nickel-copper anomalies have been defined andthe 25,556 hectare Lontra Ni Project situated in the Araguaia mobile belt, whichflanks the eastern margin of the Carajas Mineral Province of northern Brazil. This information is provided by RNS The company news service from the London Stock Exchange