Horizonte Minerals Plc (LON: HZM, TSE: HZM) has been awarded three new mineral exploration concession areas adjacent to the Araguaia North deposits which form part its 100% owned Araguaia nickel project in Brazil.
The new land package covers 1,748 hectares and contains ultramafic intrusions of a similar type to those hosting the high-grade nickel resource at Araguaia's Vale dos Sonhos deposit.
The company is now looking to acquire more ground as it seeks to consolidate its position as the developer of the next major nickel project in Brazil.
The new ground will be the subject of a reconnaissance exploration programme to identify new drill targets that demonstrate potential for additional zones of new nickel mineralisation
Meanwhile, the feasibility study for the wider project remains on schedule and on budget for delivery by the end of 2017
"Whilst the Feasibility Study is underway at Araguaia we have also been busy adding to our land position,” said chief executive Jeremy Martin.
“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.”