16th Apr 2015 10:16
LONDON (Alliance News) - Horizonte Minerals PLC on Thursday said initial results from its infill resource drilling programme at the Araguaia nickel project in Brazil demonstrated significant new high-grade drill intersections.
The drilling results included a number of intersections at the Pequizeiro deposit at the site, all of which provided at least 2% nickel grades.
The company said the final infill drilling results are due in the second quarter.
"We have completed the infill resource drilling programme at Araguaia on time and within budget; with the initial results received to date continuing to demonstrate the consistent high-grade nature of the mineralisation," said Horizonte Chief Executive Jeremy Martin.
Shares in the company were up 5.5% to 2.9 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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