Horizonte Minerals (LON:HZM, TSX: HZM) has expanded its land holdings in the area surrounding its Araguaia development.
The latest concession award is 1,610 hectares adjacent to Glencore’s Vale dos Sonhos and Serra do Tapa nickel laterite deposits and 60km north of Araguaia.
Horizonte intends further to expand its presence in the Araguaia nickel district and has applied for five additional concessions to the south of Glencore's nickel projects and two new concessions on the south western side of its own development.
Combined, these parcels of land amount to a further 25,997 hectares.
Jeremy Martin, Horizonte’s chief executive, said he was delighted with the new concession.
“It has always been our intention to grow our position northwards from our flagship Araguaia project with the objective of consolidating the district.
This new area is adjacent to Glencore's advanced nickel projects, which have major resources similar to Araguaia and the area shows prospective geology which may have the potential to host additional nickel mineralisation.
At Araguaia, Martin said work was progressing despite tough market conditions.
“Work is on-going on the environmental and social base line data collection at site and we aim to finalise the test work results from the Rotary Kiln Electric Furnace pilot plant campaign shortly."