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Horizonte Minerals Plc
Summary
| Project: | Vermelho | |
|---|---|---|
| Deposit: | Vermelho | |
| Location: | Brazil | |
| Commodities: | Nickel-Cobalt | |
| Date: | 5/9/2018 | |
| Report Code: | NI43-101 | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 9-5-2018: Horizonte Minerals Plc announces a Resource Estimation report for its Vermelho deposit at the Vermelho project. Initial mineral resource estimate at project. 09 May 2018 – Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Company | |
| Resources: | (Resource, M+I): 167.8Mt @ 1.01% Ni, 0.06% Co for 1688Kt Ni, 94Kt Co contained | |
| CP/QP: | [Resources]: Andrew F. Ross (Snowden Mining Industry Consultants Pty Ltd.) | |
| ABSTRACT: | 09 May 2018 – Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) (‘Horizonte’ or ‘the Company’) the nickel development company focused in Brazil which is developing the Araguaia nickel project as Brazil’s next ferro-nickel mine, is pleased to announce an initial NI 43-101 Mineral Resource Estimate for the recently acquired Vermelho nickel/cobalt project. Horizonte’s CEO Jeremy Martin said, “This NI 43-101 Mineral Resource covering the Vermelho nickel-cobalt project is an exciting development for the Company. The resource is high grade, at around 1.34% NiEq% and places the project on the upper end of the global grade curve as well as being scalable, adding over 1.6 million tonnes of contained nickel and over 90,000 tonnes of contained cobalt to the Company’s substantial global metal inventory. The next phase of work at Vermelho will focus on advancing the work that Vale completed as part of their Feasibility Study, taking the mixed hydroxide product (MHP) and upgrading to nickel and cobalt sulphate suitable for use in the evolving EV battery market. The acquisition of the Vermelho nickel – cobalt project means that Horizonte now has the potential to supply both high grade ferro-nickel from the Araguaia project to the stainless steel market and nickel/cobalt products from Vermelho that can be used in both the EV battery market or the metals space as we work towards becoming a leading nickel development company. | |
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