TORONTO, May 15, 2013 /CNW/ - Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the
Company') the exploration and development company focused in Brazil, announces
that it has today published its unaudited financial results for the
three month period to 31 March 2013 and the Management Discussion and
Analysis for the same period.
Both of the above have been posted on the Company's website at www.horizonteminerals.com and are also available on SEDAR at www.sedar.com.
Highlights for the first quarter of 2013:
-
Significant exploration progress made at 100% owned flagship Araguaia
Nickel Project ('Araguaia') located south of the Carajas mining
district in northern Brazil
-
299 holes (8,688m) complete of Phase 3 infill drilling programme on the
Jacutinga, Vila Oito West, Vila Oito, Vila Oito East and Pequizeiro
West targets at Araguaia
-
A number of high grade intercepts received including 23.2m grading 2.09%
nickel
-
Programme designed to convert sufficient resource material to the
Indicated category to provide a minimum of 20 years mine life to feed
into the Pre-Feasibility Study
-
Current resource stands at 39.3Mt grading 1.39% Ni (Indicated) and
60.9Mt at 1.22% Ni (Inferred)
-
Metallurgical testing with FLSmidth confirmed Araguaia ore is suitable
for treatment via high temperature Rotary Kiln-Electric Furnace route,
a proven technology
-
Awarded contract to Snowden Mining Consultants to supervise and
undertake an updated resource estimate that will form the basis for the
Pre-Feasibility Study
-
In final stages of selection of a consulting group for the
Pre-Feasibility Study which is scheduled for completion in Q4 2013/Q1
2014
-
Strengthened institutional shareholder base - Henderson Global Investors
increasing its holding in Horizonte to 13.03%.
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX listed exploration and
development company focused in Brazil which wholly owns the advanced
Araguaia nickel project located to the south of the Carajas mineral
district of northern Brazil. The project currently has an estimated
mineral resource of 39.3Mt grading 1.39% Ni (Indicated) and 60.9Mt at
1.22% Ni (Inferred) at a 0.95% nickel cut-off.
The Company has completed a Preliminary Economic Assessment at Araguaia
that illustrates robust economics based on low strip ratio with good
infrastructure. It is Horizonte's intention to complete a
Pre-Feasibility at Araguaia to further prove the economics of the
project.
In addition it has support from its major shareholder, Teck Resources.
The company is well funded to accelerate the development of its core
project.
Competent Person
David Hall (BSc MSc Fellow SEG PGeo), Chairman of Horizonte Minerals
plc, has over 30 years of experience in the mining industry and the
exploration, definition and mining of mineral resources and has
sufficient experience which is relevant to the style of mineralisation
and type of deposits under consideration, and to the type of activity
which he is undertaking to qualify as a Qualified Person in accordance
with NI 43-101 and a Competent Person as defined in the June 2009
Edition of the AIM Note for Mining and Oil & Gas Companies. David Hall
consents to the inclusion in the announcement of the matters based on
their information in the form and context in which it appears and
confirms that this information is accurate and not false or misleading.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company,
certain information contained in this press release constitutes
"forward-looking information" under Canadian securities legislation.
Forward-looking information includes, but is not limited to, statements
with respect to the potential of the Company's current or future
property mineral projects; the success of exploration and mining
activities; cost and timing of future exploration, production and
development; the estimation of mineral resources and reserves and the
ability of the Company to achieve its goals in respect of growing its
mineral resources; and the realization of mineral resource and reserve
estimates. Generally, forward-looking information can be identified by
the use of forward-looking terminology such as "plans", "expects" or
"does not expect", "is expected", "budget", "scheduled", "estimates",
"forecasts", "intends", "anticipates" or "does not anticipate", or
"believes", or variations of such words and phrases or statements that
certain actions, events or results "may", "could", "would", "might" or
"will be taken", "occur" or "be achieved". Forward-looking information
is based on the reasonable assumptions, estimates, analysis and
opinions of management made in light of its experience and its
perception of trends, current conditions and expected developments, as
well as other factors that management believes to be relevant and
reasonable in the circumstances at the date that such statements are
made, and are inherently subject to known and unknown risks,
uncertainties and other factors that may cause the actual results,
level of activity, performance or achievements of the Company to be
materially different from those expressed or implied by such
forward-looking information, including but not limited to risks related
to: exploration and mining risks, competition from competitors with
greater capital; the Company's lack of experience with respect to
development-stage mining operations; fluctuations in metal prices;
uninsured risks; environmental and other regulatory requirements;
exploration, mining and other licences; the Company's future payment
obligations; potential disputes with respect to the Company's title to,
and the area of, its mining concessions; the Company's dependence on
its ability to obtain sufficient financing in the future; the Company's
dependence on its relationships with third parties; the Company's joint
ventures; the potential of currency fluctuations and political or
economic instability in countries in which the Company operates;
currency exchange fluctuations; the Company's ability to manage its
growth effectively; the trading market for the ordinary shares of the
Company; uncertainty with respect to the Company's plans to continue to
develop its operations and new projects; the Company's dependence on
key personnel; possible conflicts of interest of directors and officers
of the Company, and various risks associated with the legal and
regulatory framework within which the Company operates.
Although management of the Company has attempted to identify important
factors that could cause actual results to differ materially from those
contained in forward-looking information, there may be other factors
that cause results not to be as anticipated, estimated or intended.
There can be no assurance that such statements will prove to be
accurate, as actual results and future events could differ materially
from those anticipated in such statements.
SOURCE: Horizonte Minerals plc