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(HZM) Horizonte Minerals Share Chat

Discussion in 'General Share Chat (HZM)' started by Stabilo123, Feb 20, 2016.

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    NEWS RELEASE

    14 March 2019

    POSITIVE METALLURGICAL TESTWORK RESULTS FOR THE VERMELHO NICKEL COBALT PROJECT


    Horizonte Minerals Plc,(AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the nickel development company focussed inBrazil, is pleased to announce positive results from metallurgical and smelting test work on the Vermelho nickel cobalt project, located in the southern part of the Carajás mining district inParástate, northernBrazil.

    Highlights:

    · Tests of Vermelho saprolite samples returned an average ferronickel grade of 31.8% nickel;

    · The ferro nickel product was of high quality, being low in trace elements and meeting the commercial requirement of stainless-steel manufacturers;

    · The results confirm the suitability of the conventional Rotary Kiln Electric Furnace ("RKEF") for processing Vermelho saprolite ore.

    Horizonte CEO Jeremy Martin said, "We are pleased to report the test work has confirmed that it is possible to produce high grade, commercial specification ferronickel from the saprolite and transition ore at Vermelho. These results confirm the suitability of the proposed conventional Rotary Kiln Electric Furnace ("RKEF") process selected for the Company's Araguaia ferronickel project is also suitable for processing Vermelho ore. In parallel the test work at SGS Lakefield on limonite samples from Vermelho to demonstrate itssuitability for production of high purity nickel and cobalt sulphate to supply the EV battery markets is at an advanced stage and we look forward to reporting on the results of this work.

    We currently have a prefeasibility underway for the project and the data from this test work and the work being undertaken by SGS Lakefield, will be incorporated into the study with the objective of demonstrating a robust set of economics for the selected process route.


    Elsewhere we continue to advance the construction financing on the Araguaia Project. Against a backdrop of global growth in nickel consumption running at around 4 to 5% per year with stainless steel currently accounting for two thirds of demand. Going forwards and coupled with this continued growth in stainless steel, nickel use in battery chemistry is set to increase significantly.This robust demand story for nickel positions Horizonte well,owning 100% of two Tier 1 nickel projects, within trucking distance of each other with the potential to produce 40,000 to 50,000 tonnes per year of nickel.

    "Horizonte Minerals - Positive Metallurgical Testwork For Vermelho #HZM https://www.voxmarkets.co.uk/rns/announcement/43c52555-5aab-4a41-b128-283e25a6251c via @voxmarkets @HorizontePLC"

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