High Grade Drilling Results At The Araguaia Project

LONDON, UK - Horizonte Minerals Plc, reported results of the 30 hole pre-excavation drilling program on its 100%-owned Araguaia nickel project in Brazil. Horizonte CEO Jeremy Martin said, "I am pleased to report the completion of the diamond drill program over the trial excavation site, the aim of this work was to define an area with near surface transition and saprolite mineralization that would be representative of the first five to eight years mine life. The drill results demonstrate this and additionally confirm the high grade nature of the nickel mineralization that has been drill defined across the project. The next stage is the trial excavation program over this area, which is now underway. The trial excavation program targets the removal of approximately 20,000 tonnes of ore down to a depth of around 14 meters utilizing two 35 tonne excavators and four 35 tonne trucks. We look forward to providing updates on this work stream, and the rest of the FS as we work to develop Araguaia as the next major ferronickel operation."

The Project has good regional infrastructure including a network of Federal highways and roads, with access to low tariff hydro-electric power. The Carajas Mining District, situated approximately 200km northwest of Araguaia, is host to a number of major iron and copper mines operated by mining major Vale SA.