The CEO of the company said that Horizonte is advancing its recently acquired Vermelho project, a scalable high-grade nickel deposit which has the potential to supply raw materials into the battery industry.
Horizonte Minerals (LSE,TSX:HZM) has released an update on its Vermelho nickel-cobalt project in the eastern part of the Carajás mining district of Brazil.
As highlighted in the press release:
- Test-work is underway at SGS Lakefield, Canada, on Vermelho limonite samples, with the objective of producing high purity nickel and cobalt sulphate suitable for the electric vehicle battery market
- Initial tests show high nickel and cobalt extraction rates achieved on limonite samples
- In addition, batch smelting test-work is being conducted on samples of transition and saprolite material from Vermelho at the KPM laboratory, Canada. This work aims to confirm its suitability to produce high grade ferro-nickel, which could potentially be treated at the Araguaia plant or a new standalone facility at Vermelho
- Environmental baseline data collection has re-commenced at Vermelho as part of advancing the permitting process
CEO of Horizonte, Jeremy Martin said:
“Horizonte is advancing its recently acquired Vermelho project, a scalable high-grade nickel deposit which has the potential to supply raw materials into the battery industry. Two parallel streams of test-work are currently underway. The first, testing the limonite ore’s suitability for production of high purity nickel and cobalt sulphate to supply EV markets. The second, testing the saprolite ore as a feed into the planned Rotary Kiln Electric Furnace plant at Araguaia, or potentially into a standalone RKEF plant at Vermelho.”