StockMarketWire.com - Horizonte Minerals has been awarded three new mineral exploration concession areas next to the Araguaia North deposits forming part of its 100% owned Araguaia nickel project in Brazil.

The group said the three new concessions totalled 1,748 hectares and were located in prospective locations containing ultramafic intrusion of a similar type to those hosting the high-grade nickel resource at Araguaia's Vale dos Sonhos deposit.

It said further applications totaling an area of 6,186 hectares had also been filed with the mines department for two additional concessions also adjacent to the Araguaia North deposits.

Chief executive Jeremy Martin said: "Whilst the Feasibility Study is under way at Araguaia we have also been busy adding to our land position.

"This forms part of our continuing strategy to consolidate the Araguaia nickel belt and provides future value uplift potential to increase our project nickel resources.

"The new concession areas lie adjacent to our high-grade Vale do Sonhos deposit and therefore they represent attractive exploration targets.

"As we advance Araguaia through the Feasibility Study and with drilling under way on site at the trial excavation area, we look forward to keeping the market updated with progress at this exciting time for Horizonte."




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