Company Information for Horizonte Minerals Plc

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Company Statement

Horizonte Minerals Plc is an AIM-quoted international mineral resources exploration group focused on the identification, appraisal and development of gold and base metal deposits in Brazil and Peru. The Group is led by an experienced management team with over 50 years of combined experience in mineral exploration in South America.

Horizonte aims to become the preferred exploration partner for Major gold and base metal mining companies, in the region.

Current Operations

Overview of Projects
The Company has three priority projects: two gold exploration projects in Brazil (Tangara and Falcao) and one silver-zinc-lead project in Peru (El Aguila). Additionally, it has a pipeline of early stage gold and base metal projects, which it intends to add to.  The total land area over which the Group holds exploration rights is circa 80,000 hectares. These exploration projects are characterised by transportation links, proximity to established exploration and production infrastructure and are located predominantly in areas previously cleared for agricultural purposes.

Brazil
Tangara
The Tangara project, total land area 320 km2, is located within the Carajas Mineral Province and covers a 32 km long Archean age greenstone belt. In 2000 MVR applied for exploration licences following interpretation of exploration data generated by CVRD during the mid 1980’s. The interpretation indicated that the exploration potential of the area had been under-rated. Since 2000 the land package has been consolidated within the belt and in 2006 the claims were transferred to Horizonte. 

Horizonte is currently drill testing a number of gold targets within the MA trend which is located in the central project area. MA is a +5km long by 600 to +1000m wide coincident gold in soil anomaly above the 50 ppb gold level. This anomaly envelopes a 2.5 km long zone formed by two major trends where soil sample values range from +0.25g/t to 2.4g/t gold. Both trends are associated with numerous multi-gram gold rock samples, the best of which are related to a massive pyrite, sericite, quartz alteration zone which has returned assays of up to 14.8g/t gold in rock chips. The remainder of the greenstone belt within the Tangara project area has only undergone early stage reconnaissance stream sediment exploration. This program has identified additional exploration targets that will be evaluated in the coming months. 

Since listing on AIM in May 2006, Horizonte has obtained HEM data (a helicopter borne electromagnetic, magnetic and radiometric survey) over the greenstone belt and a detailed ground magnetic survey covering the MA trend. This data has been combined with an orientation Induced Polarisation (IP) survey and shallow auger drilling programs. The resultant interpretation has led to the definition of the main mineralized structures within the MA trend. The current drill program will test specific targets along these structures within a 2km by 750m portion of the trend. Drilling commenced in early August 2006.
      
Falcao
The Falcao project is located 175 km south of the Tangara project. Falcao was a BHP grassroots discovery that was identified by regional stream sediment sampling which defined several sample locations running anomalous gold, copper and silver values, covering a 50 sq km land area. The stream sediment programme was followed-up by a regional soil grid and shallow auger drill programme on an 800m by 200m grid which defined the main area of interest as an open 6 km long anomalous gold/copper and zinc/silver/gold zone.         

BHP undertook a limited wide spaced RC drilling campaign in September 1998 to test for the presence of a world-class mineral deposit. The final RC drill holes were located on a wide (2,400m by 400m) spacing along the 6 km anomalous trend. Despite the wide drill hole spacing a number of highly anomalous intersections were drilled including 9m at 4.8g/t gold from surface, 3m at 4g/t gold from 57m, and 24m at 0.5g/t gold including 3m at 2.8g/t gold. This latter result was from a hole which was drilled outside the main soil geochemical anomaly.

Horizonte has commenced a detailed soil grid and auger programme within the broad anomalous zone to define follow up drill targets.

Peru
El Aguila        
The El Aguila project is located in the world-class Cerro de Pasco mining district in central Peru approximately 17 km north of the Cerro de Pasco mining centre and 10 km from the Atacocha silver-lead-zinc mine. The district benefits from excellent road, rail and mineral processing infrastructure. The project consists of the El Aguila and Pacos Hill mining claims, which straddle the Cerro de Pasco fault, the main mineralising control in the district. Sulphide veins and replacement structures, known from colonial times were mined on a small-scale during the 1970s.

Reconaissance stage exploration has identified a large and significant mineralised system at El Aguila. Results from surface sampling and drilling have demonstrated high-grade silver-lead-zinc vein and replacement-hosted mineralisation in a world-class base polymetallic district.

Pipeline
Lontra
The Lontra nickel project, which consists of five exploration claims, is situated in the Araguaia mobile belt, flanking the eastern margin of the Carajas Mineral Province in southern Para State, Brazil.  The 256 sq km land package is located 80 km south of a major nickel deposit owned by mining major Xstrata and 65 km southeast of Horizonte's Tangara gold project. The region is host to a major new lateritic nickel province with a number of large deposits scheduled to enter into production.  These include a major grassroots laterite nickel discovery by Xstrata, which lies 80 km to the north of the Lontra Project and has reported a resource of 73.3Mt at 1.5% Ni and 0.06% Co.

Crixas
The Crixas the nickel-copper project, based in Brazil and consisting of three contiguous exploration licences covering 4,660 hectares, spans over the prospective Achaean aged Crixas greenstone belt.  The three areas cover the northern extension of the belt and are associated with the Corrego Alagadinho basal mafic to ultramfic sequences, which are associated with gold and nickel deposits in the region. The Anglogold/ Kinross, Mina Serra Grande (Crixas) goldmine is located just 12km to the southeast. This mine produces approx. 200.000 ounces/year at an average grade of 7g/t.

A regional stream sediment sampling programme defined five anomalous target areas, indicating strong Ni-Cu anomalies and mafic/ ultramafic signatures in several catchments.  A follow-up programme is underway aimed at testing the potential for a sulphide nickel deposit.

Rio Maria        
The Rio Maria project is situated approximately 15 km south of the Tangara project in Brazil. Horizonte is targeting structurally controlled gold deposits within the Archean Andorinhas greenstone belt and has identified a stream sediment anomaly coincident with a structure interpreted from airborne geophysics. Horizonte believe there is potential for an intrusive related gold mineralisation discovery.

Goiás Velho    
The Goiás Velho project is situated in a historic gold mining region and extends northwest from the town of Goiás, which was previously the capital of the Goiás state. The project is dominated by prospective geology and comprises seven exploration licences covering an area of 133 sq km covering the Santa Rita greenstone belt. A series of gold geochemical anomalies along the greenstone belt within the concession package have been defined by Horizonte through initial reconnaissance work, including soil and stream sediment sampling. The Directors believe that this project demonstrates potential for small tonnage, high grade gold deposits comparable to the high grade Sertao Gold Mine which lies 18 km to the north.  

Geographical Spread

Brazil and Peru

Board of Directors and Key Management

David J. Hall - Non-Executive Chairman

Jeremy J. Martin - Director and Chief Executive Officer

Nicholas R. Winer - Director and Chief Operations Officer

Allan M. Walker - Non-Executive Director

Gary Townsend -Chief Financial Officer

Antonio Valério da Silva - Director of HM Brazil

Company Address 22 Grafton Street London, United Kingdom W1S 4EX Telephone: 0044 (0) 20 7495 5446 Email: info[at]horizonteminerals.com Website: http://www.horizonteminerals.com

Nominated Brokers Fairfax I.S.PLC 46 Berkeley Square London W1J 5AT United Kingdom

Nominated Advisors Fairfax I.S.PLC 46 Berkeley Square London W1J 5AT United Kingdom

Broker/Analyst Reports

31/01/07 - Horizonte Minerals - Hichens Harrison & Co

Related News

09/09/08 - Horizonte Comes On Leaps And Bounds At The Lontra Nickel Deposit In Brazil
25/06/08 - Horizonte Isn’t Lonely Down In South America, And With The Help Of Fairfax Hopes To Make New Friends In London Too
20/02/08 - Horizonte Courts The Majors With Gold, Nickel, Silver And Zinc
04/10/07 - Horizonte Minerals Has Some Well Placed Projects And Now Requires A Degree Of Luck
20/03/07 - Horizonte Minerals Could Be Onto Winners In Peru And Brazil

Most Recent Statement

23/09/08 - Interim Results
08/09/08 - Major Nickel Discovery in Brazil
22/07/08 - Signs Agreement with Barrick's Subsidiary to Acquire and Develop the Pararapa gold project in Peru
14/05/08 - Further Positive Nickel Grades at Lontra and Diamond Drilling Underway
29/04/08 - Final Results
22/04/08 - Upgrades Lontra Ni Project