Horizonte Awards Prefeasibility Study Contract for Araguaia

Horizonte Minerals plc (TSX:HZM,LSE:HZM) announced that it has awarded Snowden Mining Industry Consultants the prefeasibility study contract for its wholly owned Araguaia nickel project, located in Brazil.

As quoted in the press release:

Snowden as lead contractor will be managing a group of selected third party consulting groups to deliver the PFS, which is expected to be completed in H1 2014. The PFS will further refine the technical and economic parameters of the Project to determine its viability.

The award of the principal PFS contract follows extensive work completed by Horizonte at Araguaia, which included 25,900m of drilling which defined a NI 43-101 compliant resource in February 2012 of 39.3Mt grading 1.39% Ni (Indicated) and 60.9Mt at 1.22% Ni (Inferred) at a 0.95% nickel cut-off; a completed Preliminary Economic Assessment (‘PEA’), which returned robust results; and completed metallurgical testwork, which further confirmed the suitability of the RKEF process for the treatment of the Araguaia Nickel ore to produce a saleable ferronickel product.

 Click here to read the full Horizonte Minerals plc (TSX:HZM,LSE:HZM) press release.