StockMarketWire.com - Horizonte Minerals has been awarded a new 1,610 hectare concession area adjacent to Glencore's advanced Vale dos Sonhos and Serra do Tapa nickel laterite deposits.

The new concession - which has been granted for three years - is located approximately 60 kilometres north of Horizonte's 100% owned high-grade Araguaia nickel project in Para State, north central Brazil which the company is developing towards production.

Chief executive Jeremy Martin said: "I am delighted to announce the award of this new concession area which sees us increase our land holding in Brazil where we are developing the country's next major nickel project. It has always been our intention to grow our position northwards from our flagship Araguaia project with the objective of consolidating the district.

"This new area is adjacent to Glencore's advanced nickel projects which have major resources similar to Araguaia and the area shows prospective geology which may have the potential to host additional nickel mineralisation. Furthermore we have a number of other new concession applications pending with the Mines Department which we look forward to reporting on in due course.

"Despite tough market conditions Horizonte is still active at Araguaia. Work is on-going on the environmental and social base line data collection at site, and we aim to finalise the test work results from the Rotary Kiln Electric Furnace pilot plant campaign shortly."


At 8:02am: [LON:HZM] Horizonte Minerals PLC share price was +0.26p at 2.13p



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