Horizonte Announces Vermelho Mineral Resource Confirming Significant Nickel and Cobalt Inventory

Nickel Development company Horizonte Minerals (TSX:HZM) has announced an initial mineral resource estimate for the recently acquired Vermelho nickel-cobalt project in Brazil.

As highlighted in the press release:

• The Vermelho nickel-cobalt mineral resources, in the measured and indicated category, are 167.8 million tonnes grading 1.01 percent nickel and 0.06 percent cobalt (at 0.9 percent nickel equivalent cut off)

• The measured and indicated mineral resources categories are estimated to contain 1.68 million tonnes (3,700 million pounds) of nickel and 94,000 tonnes (207 million pounds) of cobalt

• The mineral resource estimate places the Vermelho project as one of the largest, highest grade undeveloped laterite nickel – cobalt resources globally

• Significant portion of high grade saprolite within the deposit is amenable to the rotary kiln electric furnace process route to produce ferronickel being developed at the Araguaia project

• Test work planned to confirm the Vermelho mineralization is suitable to produce nickel and cobalt sulphate for the EV battery market

Click here to view the full Horizonte Minerals (TSX:HZM) press release.