Horizonte
Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining
17th
July 2007
Horizonte Minerals plc (‘Horizonte’ or ‘the Company’)
Raises �2.19 million to develop resource projects in Brazil and Peru
Horizonte
Minerals plc, the AIM listed
exploration and development company with mineral projects in Brazil and Peru, has raised �2.19 million
through the issue of 10,940,000 new ordinary shares of 0.1p each at 20 pence
per share. The funds raised, with existing as well as new institutional
investors, will be utilised primarily to fund the development of the Company’s
gold, silver, zinc and nickel projects in identified mineral districts in Brazil and Peru.
Horizonte aims
to fast track the exploration programmes on its three core assets, the Tangara
gold project and the Lontra nickel project in Brazil
and the El Aguila silver-zinc project in Peru.
At the Tangara
gold project, the first phase drilling and follow-up detailed surface soil
sampling and ground Induced Polarization (IP) geophysical survey have been
completed. A 1,500m diamond drilling programme has commenced following the
definition of five new combined geophysical and geochemical gold targets. The
principal target has a total extent of over 1.2 kilometres.
The Lontra
Nickel Project, situated in the Araguaia mobile belt, covers an area of 25,556
hectares which flanks the eastern margin of the Carajas
Mineral Province
of northern Brazil.
The area is a new nickel laterite province with several new major discoveries.
Exploration work to date has defined 7 nickel anomalies. A shallow auger
drilling programme is scheduled to commence in the next few weeks to determine
the grade continuity and size extent of the anomalies.
At the El
Aguila silver-zinc project in Peru,
work to date has concentrated on increasing the target size at Pacos Hill and
defining the Zona Sur targets for drilling. The geological model
developed for the Zona Sur, based on the recent geophysical programme, has
demonstrated excellent continuity between the structural, geochemical and
geophysical anomalies. A 2,000 meter diamond drilling programme is
planned for September to test the Zona Sur target area.
Commenting on
the placing, CEO Jeremy Martin
stated, “We are very pleased to announce
this �2m placing which highlights the continued support that Horizonte has from
both institutional and individual shareholders. On the ground the
projects are developing well and we have an active 6 months ahead of us with
multiple drill programmes scheduled. We are firmly focussed on our
strategy of generating new exploration projects which demonstrate the potential
to host large scale mineral systems. Our objective in the next six months
is to have a major company partner in place on both the Tanagra gold project and the El Aguila
silver, zinc project thereby proving our business model and crystallising value
for shareholders through organic growth. In addition, it is Horizonte’s aim to
become the preferred exploration partner of the Major companies in Brazil.”
* * ENDS * *
For further
information visit www.horizonteminerals.com
or contact:
Jeremy Martin/David Hall
Horizonte Minerals
plc
Tel: 020
7495 5446
David Paxton
Hichens Harrison
Tel: 020 7382 7785
Hugo de
Salis
St Brides Media &
Finance Ltd Tel:
020 7242 4477
John
Frain/Fergal Meegan
Davy
Tel: +353 1 679 6363
Notes to Editors:
Horizonte
Minerals Plc is an AIM listed mineral resources exploration group focused on
the discovery, appraisal and development of gold and base metal deposits in Brazil and Peru. The Group’s has two
flagship gold exploration projects in Brazil, and one silver-zinc-lead project
in Peru as well as additional gold, zinc and nickel exploration projects in
Brazil. The two Brazilian gold projects, Tangara and Falcao, are located to the
south of the highly prospective Carajas
Mineral Province.
Both projects cover an area of approximately 300 sq km and are centred over
greenstone belts, with known gold mineralisation. The scale of these project
areas, the overall aerial extent of the mineralised system and the high density
and magnitude of related gold anomalies (identified in river sediments, surface
soils and rocks), indicate the potential for multiple deposit discoveries. The
silver-zinc-lead project is located in the historic mining district of Cerro de
Pasco in Central Peru. Sampling and limited
historic drilling on this project has demonstrated the high grade potential of
this project. The Group has a joint venture with Australian gold producer Troy
Resources NL’s 70% owned local subsidiary Sertao Mineracao Ltda to advance its
Goias Velho gold exploration project in Brazil. Additional projects include
the 4,660 hectare on the prospective Achaean aged Crixas greenstone belt, where
multiple nickel-copper anomalies have been defined and the 25,556 hectare
Lontra Ni Project situated in the Araguaia mobile belt, which flanks the
eastern margin of the Carajas Mineral Province
of northern Brazil.
Isabel Crossley
St Brides Media &
Finance Ltd
Aldermary House, 10-15 Queen Street
London EC4N 1TX
Tel: 020 7242 4477
Fax: 020 7651 8689
Email: isabel@sbmf.co.uk