New Gold Targets in Brazil
Horizonte Minerals PLC
12 June 2007
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
2007. 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.
This information is provided by RNS
The company news service from the London Stock Exchange