Final drill results from infill drilling programme at the Araguaia Nickel Project, Brazil

TORONTO, Sept. 10, 2013 /CNW/ - Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the exploration and development company focused in Brazil, is pleased to announce the final set of results from the completed infill resource drilling programme at its 100% owned Araguaia nickel project ('Araguaia') in Para State, north central Brazil.

Highlights

• New high grade nickel intersections at the Vila Oito Target include:
• 20.21 metres grading 2.29% Ni
• 13.48 metres grading 1.77% Ni
• 20.38 metres grading 1.68% Ni
• New high grade nickel intersections from the Vila Oito West Target include:
• 7.22 metres grading 2.10% Ni
• 8.67 metres grading 1.76% Ni
• 9.37 metres grading 1.72% Ni
• 321 holes (9,309 metres) of the final Phase 3 infill drill programme completed on time and within budget targeting the Jacutinga, Vila Oito West, Vila Oito, Vila Oito East and Pequizeiro West targets at Araguaia.
• Geotechnical drilling as part of the Pre-Feasibility study ('PFS') has been completed in the proposed pits on the Baião, Pequizeiro, Pequizeiro West, Jacutinga, Vila Oito West, Vila Oito and Vila Oito targets. This drilling comprised a total of 12 holes (386 metres) - an additional 6 hole geotechnical drilling programme is currently underway on the proposed plant site.

Horizonte CEO Jeremy Martin said, "This is the final set of drill results from the infill resource drilling programme at Araguaia, which has been completed on time and on budget. Both the Vila Oito and Vila Oito West target results are highly encouraging and have returned a number of drill holes with high nickel grades and good vertical thickness. All of the results have now been integrated into the PFS which will result in an updated Resource Model as part of the overall study. Snowden Mining Consultants, with the associated consulting groups, are making solid progress on the PFS study, with initial work complete on the plant site selection, initial mining design and preliminary mining schedule. The programme is running to budget and is on schedule for completion in H1 2014. An additional geotechnical drilling programme is underway on the selected plant site to determine the ground conditions around the planned locations of the principal structures namely; primary crusher, rotary kiln, electric furnace and the slag disposal facility.

"Our exploration team has also been active, evaluating new potential targets within our extensive land position around the core Araguaia resources. We look forward to providing further updates on the progress of the PFS and other exploration activity in the coming weeks."

Further Details

These results are the final set of drill results from the Phase 3 mineral resource drilling programme. This programme was designed to complete infill drilling on 100 m x 100 m grids on the Jacutinga, Vila Oito West, Vila Oito, Vila Oito East and Pequizeiro West targets of the Araguaia Nickel Project in Brazil. 321 holes (9,309 metres) were completed, including 35 holes (1,186 metres) on Jacutinga, 84 holes (1,669 metres) on Vila Oito West, 133 holes (4,228 metres) on Vila Oito, 44 holes (1,509 metres) on Vila Oito East and 25 holes (717 metres) on Pequizeiro West. The results from the 71 holes (2,139 metres) from the 100m x 100m infill drilling on the Vila Oito target are detailed in Table 1. The results from the 84 holes (1,669 metres) from the combined 141m x 141m and 100m x 100m infill drilling on Vila Oito West are detailed in Table 2. The results contain several high-grade intersections, including 20.21 metres grading 2.29% nickel (Hole PCA-DD-1283), 13.48 metres grading 1.77% nickel (Hole PCA-DD-1266) and 20.38 metres grading 1.68% nickel (Hole PCA-DD-1270) on the Vila Oito target; 7.22 metres grading 2.10% nickel (PCA-DD-1310), 8.67 metres grading 1.76% nickel (PCA-DD-1357) and 9.37 metres grading 1.72% nickel (PCA-DD-1319) on the Vila Oito West target.

It should be noted that a number of the drill holes from these latest results step out around the edges of the main mineralised zones at the project area and as such not all the holes have encountered economic nickel grades at a 1% nickel cut-off grade. However where economic grades are intercepted then the drill programme will be expanded to infill around these areas.

Target maps showing the completed and planned drill holes can be viewed on www.horizonteminerals.com.

NSI: No significant intersection

The compositing of the nickel grades in the individual holes was completed across geological boundaries using a nickel cut-off of 1% with a minimum intercept length of 2.0 metres and a maximum length of internal waste of 2 metres. All holes were vertical and, as these nickel laterite deposits are essentially flat-lying, all widths given are true widths. Core recoveries in the mineralised sections met the appropriate standards for this style of mineralisation and were generally >90%.

Sample preparation and analyses

Samples from drill core were crushed and pulverised at the SGS laboratory in Goiania and the resultant pulps analysed at the SGS laboratory in Belo Horizonte using tetraborate fusion and X-Ray Fluorescence ('XRF'). Full QA/QC procedures were followed, including the insertion of standards, duplicates and blanks. Check samples representing approximately 5% of all the samples, will be sent to another international laboratory for analysis by XRF.

Horizonte Minerals prepared this news release and Andrew F. Ross MSc., P.Geo., FAusIMM, of Snowden Mining Industry Consultants Pty. Ltd., a Qualified Person under National Instrument 43-101, reviewed and approved the drill hole technical information.

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 Study 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.

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