Horizonte Minerals Regulatory News (HZM)

29 Jan 2007 09:30

Horizonte Minerals PLC29 January 2007 Horizonte Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining 29 January 2007 Horizonte Minerals plc ('Horizonte' or 'the Company') Expands exploration portfolio with acquisition of 4,660 hectare Crixas nickel-copper project Horizonte Minerals plc, the AIM listed exploration and development companyfocused on Brazil and Peru, is pleased to announce that it has been awardedmineral rights totalling 4,660 hectare on the prospective Achaean aged Crixasgreenstone belt. Field work within the project area, developed as part of Horizonte's generativeexploration programme, led to the definition of multiple nickel-copper (Ni - Cu)anomalies. The Company subsequently applied and has been awarded the mineralrights (100% owned) to three contiguous exploration licences covering 4,660hectares on the tightly held Archean aged Crixas greenstone belt. The threeareas cover the northern extension of the belt and are associated with theCorrego Alagadinho basal mafic to ultramfic sequences, which are associated withgold and nickel deposits in the region. The Anglogold/Kinross, Mina Serra Grande(Crixas) goldmine is located just 12 km to the southeast. This mine producesapprox. 200.000 ounces/year at an average grade of 7g/t. Horizonte has completed a first pass regional stream sediment sampling programmecovering 49 first order drainage basins within the project area, which definedfive anomalous target areas. The results show strong Ni-Cu anomalies and mafic/ultramafic signatures in several catchments. The Judas Tadeu anomaly is by farthe strongest on the project and the highest order Ni-Cu stream sediment anomalygenerated by Horizonte in Brazil to date. Several lower-order Ni-Cu anomalieswere also defined. The Company will now commence follow-up work aimed at testing the potential fora sulphide nickel deposit. Rock samples are currently at the laboratory foranalysis and regional aero geophysical data has been purchased withinterpretation underway. Horizonte CEO Jeremy Martin said, "We are excited that we have been able to gaina position in this prospective greenstone belt, which is an area we have beendeveloping over the last six months. The first pass stream sediment samplingprogramme has defined several highly anomalous drainages, which will undergorapid follow up. We believe that any quality sulphide nickel targets will be ofgreat interest to the Major producers already operating in this area." Sampling, assaying, and QA/QC Procedures adopted by Horizonte in the collection, preparation and storage ofsamples from the auger drilling programme, conform to industry-wide bestpractice and with chain of custody being observed for all samples. Analysis isundertaken by ALS Labs at its laboratories in Vancouver, Canada, and the Companymaintains QA/QC on all analytical work via the inclusion of certified referencematerials and field duplicates and blanks, in addition to monitoring of thelaboratory's own internal check-analyses. The above information has been reviewed and verified by Mr. Jeremy Martin, aDirector and Chief Executive of Horizonte, for the purposes of the Guidance Notefor Mining, Oil and Gas Companies issued by the London Stock Exchange in March2006. Mr. Martin, with six years of mining and management experience, graduatedwith a degree in geology from the Camborne School of Mines, and an MSc inmineral exploration from the University of Leicester and is a member in goodstanding with the Society of Economic Geologists and the Institute of MiningAnalysts. * * 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 Company has two gold exploration projects inBrazil, and one silver-zinc-lead project in Peru. The two Brazilian goldprojects, Tangara and Falcao, are located to the south of the highly prospectiveCarajas Mineral Province. Both projects cover an area of approximately 300 sq kmand are centred over greenstone belts, with known gold mineralisation. The scaleof these project areas, the overall aerial extent of the mineralised system andthe high density and magnitude of related gold anomalies (identified in riversediments, surface soils and rocks), indicate the potential for multiple depositdiscoveries. The silver-zinc-lead project is located in the historic mining district of Cerrode Pasco in Central Peru. Sampling and limited historic drilling on this projecthas demonstrated the high grade potential of this project. The Company has ajoint venture with Australian gold producer Troy Resources NL's 70% owned localsubsidiary Sertao Mineracao Ltda to advance its Goias Velho gold explorationproject in Brazil. This information is provided by RNS The company news service from the London Stock Exchange