Horizonte Minerals PLC
22 February 2007
Horizonte Minerals plc / Index: AIM / Epic: HMZ / Sector: Mining
22nd February 2007
Horizonte Minerals plc ('Horizonte' or 'the Company')
Defines New Gold Targets at Pampeana on the Tangara Project
Horizonte Minerals plc, the AIM listed exploration company focused on Brazil and
Peru, has defined two new substantial gold anomalies at its 100% wholly owned
Tangara gold project in the highly prospective southern part of the Carajas
Mineral Province, Brazil.
Highlights:
• The new Pampeana gold target covering an area 2km long and up to 700m wide
defined by 50 ppb gold in soils with maximum soil values of 3.5 g/t Au
• Follow up work on the MA trend has led to the definition of the Water Tank
Hill target, soil sampling has defined a 700m long anomaly with rock values
up to 40 g/t Au (R-6334). This new anomaly is considered an extension of
the Freda structure located 2.8km east of TGA-DDH04 which returned 34m
grading 2.4 g/t Au
Horizonte CEO Jeremy Martin said, 'These two new additional large scale gold
anomalies at Tangara underline our ability to identify and generate early stage
targets. The new anomaly at Pampeana, located 10km to the south east of the MA
trend, demonstrates the potential of the Identidade Greenstone Belt to host
multiple zones of gold mineralisation. The work completed at the Freda zone and
the newly defined Water Tank Hill anomaly has outlined further drill targets. We
now have a 1km anomaly defined by a coherent gold plus antimony in soils
associated with the intrusive contact. This area is directly along strike from
drill hole TGA-DDH04, which returned good gold values as part of the 2006
programme. This week the field teams completed further regional soil grids on
targets around the MA trend and we anticipate further drill targets as a result
of this work. '
First New Target - Pampeana
The Tangara Project covers a 32km long zone of the Archean aged Identidade
Greenstone Belt in the southern part of the Carajas Mineral Province, Brazil.
Horizonte has focused its activities on the MA trend where a large intrusive
system with highly anomalous gold geochemistry and indications of mineralisation
at economic grades has been identified, (TGA-DDH04 - 34m grading 2.4 g/t Au).
Subsequent to the 2006 drilling programme, the Company has completed the
follow-up of regional stream gold anomalies with soil grids and mapping. Initial
geochemistry results have identified a major new gold-in-soil target in the
south eastern part of the Tangara Project area at Pampeana.
The Pampeana target lies 10km to the east-south-east of the MA trend. The soil
grid covers a 6km strike length with sampling taken on a 400m by 80m grid and
infill lines at 200m by 40m over areas previously worked by garimpeiros. The
soil geochemistry and mapping indicates a strongly deformed mafic rock sequence
that has been cross cut by a series of north westerly trending structures.
These structures have controlled the emplacement of a series of porphyry
intrusive rocks, similar to those associated with gold mineralisation on the
Malvinas Trend.
The main soil anomaly greater than 50 ppb gold is approximately 2km long and up
to 700m wide and returned soil values up to 3.5g/t Au. A second anomalous zone
lies approximately 2km to the southeast and is over 800m long with average
values over 50 ppb gold.
Reconnaissance rock chip sampling over the area of the grid has returned
encouraging gold values from a number of quartz veins and quartz stock work.
Maximum gold grades to date are 35g/t (R-6758).
Second New Target - Water Tank Hill
Continued work around the MA trend has led to the extension of the Freda target
and the definition of a new target; Water Tank Hill. Lying 2.8km east of
TGA-DDH-04, this target was identified through rock float sampling and was
followed up by soil sampling and mapping. The 50ppb gold in soil anomaly
consists of two parallel zones approximately 100m apart with a strike length of
700m. Rock float samples taken within this anomaly have returned up to 40 g/t
Au (R-6334).
A follow up drill programme is scheduled for mid 2007 to test the Freda Zone
extension stepping out from TGA-DDH04 and working along the intrusive contact.
As part of this programme the new anomalies at Water Tank Hill and Pampeana will
also undergo wide spaced drilling.
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 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 Company has two gold exploration projects in
Brazil, and one silver-zinc-lead project in Peru. 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 Company 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.
This information is provided by RNS
The company news service from the London Stock Exchange
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