10th Sep 2013 10:38
LONDON (Alliance News) - Horizonte Minerals PLC Tuesday released results from the final set of drilling sites at its 100%-owned Araguaia nickel project in Brazil.
The exploration-and-development mineral mining company, operating in Brazil, said the 321-hole final phase-three infill drill programme was completed on time and on budget in Araquaia.
The company said some of the targets returned a number of high nickel grades in quite substantial spaces of study, while the results have been integrated into the company's pre-feasibility study to create an updated resource model for completion in the company's first half 2014.
"We look forward to providing further updates on the progress of the PFS and other exploration activity in the coming weeks," Chief Executive Jeremy martin said in a statement.
Horizonte Minerals shares were down 0.12 pence, or 1.64% to 7.50 pence Tuesday.
By Tom McIvor; [email protected]; @TomMcIvor1
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