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Horizonte Minerals (LON:HZM) said the bulk sample collection process at its wholly-owned Araguaia nickel project in Brazil has been completed.
High grade nickel intersections received from bulk sampling drilling include: 11.45 metres grading 2.68% nickel (Ni); 8.38 metres grading 2.42% Ni; 12.51 metres grading 2.14% Ni.
Horizonte's chief executive officer Jeremy Martin said completion of the bulk sample collection marked another milestone in the feasibility work at Araguaia.
The bulk sample has now been transported from site to the south of Brazil where the pilot plant is located at Morro Azul.
"The next stage is very exciting as we start the commercial pilot campaign to produce nickel, which is targeted to commence at the end of April 2015," Martin said.
"We will feed this bulk sample for approximately 18 and 20 days, 24 hours a day, through the plant and produce ferro-nickel using the proven Rotary Kiln Electric Furnace process," he added.
This stage is critical in demonstrating the project is amenable to the rotary kiln electric furnace (RKEF) process, and the data and results will then be used to finalise the flow sheet for the commercial RKEF processing plant as part of the feasibility study.
Broker Numis Securities said completion of the bulk sampling ahead of the full-scale pilot plant campaign for the Araguaia nickel project is "more solid progress and another development milestone for Horizonte".
Full scale production is targeted for 2017/2018, Numis noted.
Shares in Horizonte nudged up 0.5% to 2.89p on the news.