StockMarketWire.com - Horizonte Minerals said its total aggregate nickel resource base jumped by 30% following the addition of the Serra do Tapa deposit in Brazil.

The company's 100% owned aggregate mineral resource inventory showed a 30% increase in tonnage following the addition of the Serra do Tapa deposit.

The company said its measured and indicated mineral resources now totalled 280m tonnes with 3.5m tonnes of contained nickel and 155 thousand tonnes of contained cobalt.

'This generates the potential for Horizonte to develop two mining centres within trucking distance of each other, the first, in the south at Araguaia, where we are developing a ferronickel operation to produce around 14,500 tonnes of nickel with the Stage 1 plant expandable to 29,000 tonnes of nickel per year,' the company said.

'The second production centre in the north, at the Vermelho nickel cobalt project which has the capacity to produce 15,000 to 18,000 tonnes per year of nickel and associated cobalt. Now we have additional high-grade material from the Serra do Tapa deposit which could serve either operation,' it added.



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