27th Apr 2015 08:09
LONDON (Alliance News) - Horizonte Minerals PLC Monday said it has completed the bulk sample collection ahead of the full-scale pilot plant campaign at the Araguiaia nickel project in Brazil, which is expected to start at the end of April.
The best intersections from the bulk sampling produced results of 11.45 metres at 2.68% nickel, 8.38 metres at 2.42% nickel and 12.51 metres at 2.14% nickel. The bulk sampling was conducted over 23 holes, collecting 261 wet tonnes of selected material from the Pequizeiro deposit.
The bulk sample has now been transported from the site to the south of Brazil where the pilot plant is located.
"The next stage is very exciting as we start the commercial pilot campaign to produce nickel, which is targeted to commence at the end of April 2015. We will feed this bulk sample for approximately 18 and 20 days, 24 hours a day, through the plant and produce ferronickel using the proven Rotary Kiln Electric Furnace process," said Chief Executive Jeremy Martin.
Horizonte shares were up 0.5% to 2.89 pence per share.
By Joshua Warner; [email protected]; @JoshAlliance
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