Horizonte Minerals plc / Index: AIM / Epic: HMZ /
Sector: Mining
12 June 2007
Horizonte Minerals plc (‘Horizonte’ or ‘the
Company’)
Commences Second Phase Drilling on New Geophysical Targets at
the Tangara Gold Project
Horizonte
Minerals plc, the AIM listed exploration and development company focused on
Brazil and Peru, has commenced a 1,500m diamond drilling programme on its 100%
owned Tangara gold project in the Carajas Mineral Province, northern Brazil,
following the definition of five new combined geophysical and geochemical gold
targets. The principal target has a total extent of over 500 metres.
Highlights
- New coincident geophysical and geochemical
anomaly approximately 500m in length surrounding discovery drill hole
DDH-04, which returned 35m grading 2.54 g/t gold.
- Second target area 300m to the north-west of
DDH-04 with a strike length of approximately 400m.
- Two strong geophysical anomalies on the
greenstone Rio Maria Granodiorite contact, situated beneath the strong
gold and base metal soil geochemical anomaly north of the sulphide pit
target.
- 1,500m diamond drill programme underway.
Following the
first-phase drill programme at the end of 2006, Horizonte has completed
detailed follow-up surface soil sampling and a ground Induced Polarization (IP)
geophysical survey completed during the first week of June 07. A total
20.2 km with lines spaced at 200m width and 50m centres was run over the MA
Trend, aimed at locating the main controlling structures responsible for
generating the large surface gold anomaly. These base metal rich zones,
as defined in drill-hole DDH-04 located at the contact with the felsic
intrusives, are capable of hosting significant economic gold mineralisation.
The IP defined
a strong chargeability anomaly on the same trend 350m to the west of DDH-04.
This anomaly can be traced for approximately 250m to the east,
giving a total target zone of over 500m with coincident surface gold geochemistry
and the geophysical target at depth.
Two further
strong chargeability anomalies were defined on the western contact zone of the
greenstone belt with the Rio Maria Granodiorite, located 200m north of the
sulphide pit target. The area overlying the geophysical anomaly has high
order gold and base metal soil geochemical values.
Horizonte CEO Jeremy Martin said, “We are extremely excited by the results of the IP
geophysical survey. The MA Target at the Tangara project is a very large
scale gold system and the key is locating the controls on the gold
mineralisation. We know from our discovery hole DDH-04 which returned 35m
grading 2.54 g/t gold that there are economic zones of gold mineralisation in
the system. The results of this recent geophysical programme, when
integrated with the all the project data, validate our geological model and the
new targets will be tested as part of the 1,500m programme. The initial
holes will step out from DDH-04 and test the 500m long combined geochemical and
geophysical anomaly along the intrusive contact.”
Sampling, assaying, and QA/QC
Procedures
adopted by Horizonte in the collection, preparation and storage of samples from
the auger drilling programme, conform to industry-wide best practice and with
chain of custody being observed for all samples. Analysis is undertaken by ALS
Labs at its laboratories in Vancouver,
Canada, and the
Company maintains QA/QC on all analytical work via the inclusion of certified
reference materials and field duplicates and blanks, in addition to monitoring
of the laboratory’s own internal check-analyses.
The above
information has been reviewed and verified by Mr. Jeremy
Martin, a Director and Chief Executive of Horizonte, for the
purposes of the Guidance Note for Mining, Oil and Gas Companies issued by the
London Stock Exchange in March 2006. Mr. Martin, with six years of mining
and management experience, graduated with a degree in geology from the Camborne
School of Mines, and an MSc in mineral exploration from the University of Leicester
and is a member in good standing with the Society of Economic Geologists and
the Institute of mining Analysts.
* * 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 7588 5171
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.
Felicity Edwards
St Brides Media &
Finance Ltd
Aldermary House, 10-15 Queen Street
London EC4N 1TX
Tel: 020 7242 4477
Fax: 020 7651 8689
Email:
felicity@sbmf.co.uk