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Horizonte Minerals Plc
Summary
| Project: | Serra do Tapa | |
|---|---|---|
| Deposit: | Serra do Tapa | |
| Location: | Brazil | |
| Commodities: | Nickel-Cobalt-Iron-Silica-Magnesium | |
| Date: | 8/13/2019 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 13-8-2019: Horizonte Minerals Plc announces a Resource Estimation report for its Serra do Tapa deposit at the Serra do Tapa project. Initial mineral resource estimate at Serra Do Tapa. Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Com | |
| Resources: | (Resource, M+I): 70.3Mt @ 1.22% Ni, 0.05% Co, 16.9% Fe, 40.8% SiO2, 17.9% MgO | |
| CP/QP: | [Resources]: Andrew F. Ross (Snowden Mining Industry Consultants Pty Ltd.) | |
| ABSTRACT: | Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Company’) the nickel development company focused in Brazil which is developing the Araguaia project as Brazil’s next ferro-nickel mine and the Vermelho nickel cobalt project for the electric vehicle (EV) battery market, is pleased to announce an initial NI 43-101 Mineral Resource Estimate for the Serra do Tapa nickel deposit (Serra do Tapa or the project). Jeremy Martin, Chief Executive of Horizonte, commented, “The release of the new NI 43-101 Mineral Resource covering the Serra do Tapa deposit is another exciting development for the Company and increases our total aggregate nickel resource base by 30%. The resource is high grade and scalable, using a 1.2% nickel cut-off grade it delivers over 41 million tonnes of Mineral Resource in the Measured and Indicated category grading 1.4% nickel. The company now has 100% ownership of a nickel district, with over 280 million tonnes of resource (in the measured and indicated category), in one of the largest mining districts in Brazil, the Carajás district, which has good infrastructure, water, energy and skilled labour. This generates the potential for Horizonte to develop two mining centres within trucking distance of each other, the first, in the south at Araguaia, where we are developing a ferronickel operation to produce around 14,500 tonnes of nickel with the Stage 1 plant expandable to 29,000 tonnes of nickel per year. The second production centre in the north, at the Vermelho nickel cobalt project which has the capacity to produce 15,000 to 18,000 tonnes per year of nickel and associated cobalt. Now we have additional high-grade material from the Serra do Tapa deposit which could serve either operation. | |
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