HZM.L Regulatory News (HZM)

22 Feb 2007 08:00

Horizonte Minerals PLC22 February 2007 Horizonte Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining 22nd February 2007 Horizonte Minerals plc ('Horizonte' or 'the Company') Defines New Gold Targets at Pampeana on the Tangara Project Horizonte Minerals plc, the AIM listed exploration company focused on Brazil andPeru, has defined two new substantial gold anomalies at its 100% wholly ownedTangara gold project in the highly prospective southern part of the CarajasMineral Province, Brazil. Highlights: • The new Pampeana gold target covering an area 2km long and up to 700m wide defined by 50 ppb gold in soils with maximum soil values of 3.5 g/t Au • Follow up work on the MA trend has led to the definition of the Water Tank Hill target, soil sampling has defined a 700m long anomaly with rock values up to 40 g/t Au (R-6334). This new anomaly is considered an extension of the Freda structure located 2.8km east of TGA-DDH04 which returned 34m grading 2.4 g/t Au Horizonte CEO Jeremy Martin said, "These two new additional large scale goldanomalies at Tangara underline our ability to identify and generate early stagetargets. The new anomaly at Pampeana, located 10km to the south east of the MAtrend, demonstrates the potential of the Identidade Greenstone Belt to hostmultiple zones of gold mineralisation. The work completed at the Freda zone andthe newly defined Water Tank Hill anomaly has outlined further drill targets. Wenow have a 1km anomaly defined by a coherent gold plus antimony in soilsassociated with the intrusive contact. This area is directly along strike fromdrill hole TGA-DDH04, which returned good gold values as part of the 2006programme. This week the field teams completed further regional soil grids ontargets around the MA trend and we anticipate further drill targets as a resultof this work. " First New Target - Pampeana The Tangara Project covers a 32km long zone of the Archean aged IdentidadeGreenstone Belt in the southern part of the Carajas Mineral Province, Brazil.Horizonte has focused its activities on the MA trend where a large intrusivesystem with highly anomalous gold geochemistry and indications of mineralisationat economic grades has been identified, (TGA-DDH04 - 34m grading 2.4 g/t Au). Subsequent to the 2006 drilling programme, the Company has completed thefollow-up of regional stream gold anomalies with soil grids and mapping. Initialgeochemistry results have identified a major new gold-in-soil target in thesouth eastern part of the Tangara Project area at Pampeana. The Pampeana target lies 10km to the east-south-east of the MA trend. The soilgrid covers a 6km strike length with sampling taken on a 400m by 80m grid andinfill lines at 200m by 40m over areas previously worked by garimpeiros. Thesoil geochemistry and mapping indicates a strongly deformed mafic rock sequencethat has been cross cut by a series of north westerly trending structures.These structures have controlled the emplacement of a series of porphyryintrusive rocks, similar to those associated with gold mineralisation on theMalvinas Trend. The main soil anomaly greater than 50 ppb gold is approximately 2km long and upto 700m wide and returned soil values up to 3.5g/t Au. A second anomalous zonelies approximately 2km to the southeast and is over 800m long with averagevalues over 50 ppb gold. Reconnaissance rock chip sampling over the area of the grid has returnedencouraging gold values from a number of quartz veins and quartz stock work.Maximum gold grades to date are 35g/t (R-6758). Second New Target - Water Tank Hill Continued work around the MA trend has led to the extension of the Freda targetand the definition of a new target; Water Tank Hill. Lying 2.8km east ofTGA-DDH-04, this target was identified through rock float sampling and wasfollowed up by soil sampling and mapping. The 50ppb gold in soil anomalyconsists of two parallel zones approximately 100m apart with a strike length of700m. Rock float samples taken within this anomaly have returned up to 40 g/tAu (R-6334). A follow up drill programme is scheduled for mid 2007 to test the Freda Zoneextension stepping out from TGA-DDH04 and working along the intrusive contact.As part of this programme the new anomalies at Water Tank Hill and Pampeana willalso undergo wide spaced drilling. 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