Nickel explorer Horizonte Minerals Plc (LON:HZM TSX:HZM) has been awarded three new concessions adjacent to acreage recently acquired from Glencore at Araguaia in Brazil.
The concessions total 3,142 hectares and are to the south of the Glencore acreage.
Horizonte has also applied for a further 5,998 hectares through three additional concessions near the southern limit of the acquired land.
Jeremy Martin, chief executive, said the areas cover extensions of the ultramafic rocks that host the nickel laterite deposits on the Glencore acreage.
Reconnaissance exploration will be first work undertaken on the new concessions, he said.
On the Araguaia project itself, Martin said work is currently focused on base line environmental and social data for the Vale dos Sonhos deposit that came with the Glencore acreage.
“We are in the final stages of completing the new combined pre-feasibility study which is due for release in Q3 2016," he added.
“It is also positive to see an improvement in the nickel price during the last quarter.“