REG - Horizonte Minerals - Araguaia Nickel Results - Brazil <Origin Href="QuoteRef">HZM.L</Origin>

Horizonte MineralsAnnouncement

16/07/2015 09:08

RNS Number : 0069P
Horizonte Minerals PLC
03 June 2015
NEWS RELEASE
3 June, 2015
 
ADDITIONAL HIGH GRADE RESULTS FROM PHASE 4 INFILL MINERAL RESOURCE DRILLING PROGRAMME AT THE ARAGUAIA NICKEL PROJECT, BRAZIL
_____________________________________________________________________
3 June2015 -Horizonte Minerals Plc, (AIM: HZM, TSX: HZM) ('Horizonte' or 'the Company') the nickel development company focused in Brazil, is pleased to announce the final results from its Phase 4 infill resource drilling programme at its 100% owned Araguaia nickel project ('Araguaia') in Para State, north central Brazil. The drill programme is now complete and has demonstrated consistent high grade drill intersections. 
Highlights
 High grade nickel intersections from infill resource drilling on the Pequizeiro deposit include:
o 11.30 meters grading 2.95% Ni
o 9.21 meters grading 2.50% Ni
o 11.82 meters grading 2.39% Ni
o 14.05 meters grading 2.33% Ni
o 18.99 meters grading 2.27% Ni
 High grade nickel intersections from infill resource drilling on the Jacutinga deposit include:
o 4.44 meters grading 3.04% Ni
o 12.13 meters grading 2.43% Ni
o 17.44 meters grading 2.38% Ni
o 19.67 meters grading 2.07% Ni
o 17.30 meters grading 2.07% Ni
Horizonte CEO Jeremy Martin said, "It's encouraging to report a significant number of high grade drill results (greater than 2% nickel) from our phase 4 mineral resource drilling programme at Araguaia. The full set of results have now been received for the drilling across the Pequizeiro and Jacutinga deposits, and these two areas will support the initial 8 to 10 years mine life. These results further support the high grade zones within the current NI 43-101 Mineral Resource Estimate, so we have an increased degree of confidence that we will not see any significant reduction in the planned nickel grades over the early period of mine life.
"We are making good progress on other areas of the Feasibility work at Araguaia. The full scale Rotary Kiln Electric Furnace pilot campaign is progressing to schedule and we look forward to providing updates on this work in due course"" 
Further Details
The phase 4 mineral resource drilling programme was designed to complete infill drilling on 50 metre x 50 metre grids on selected parts of the Pequizeiro and Jacutinga deposits. The completed programme comprised a total of 310 holes totalling 10,255 metres, 261 holes totalling 8,764 metres on the Pequizeiro deposit and 49 holes totalling 1,491 metres on the Jacutinga deposit. 
All the outstanding results on the Pequizeiro deposit comprising 218 holes are presented in Table 1 below. These results contain several high grade intersections including 11.30 meters grading 2.95% nickel (hole PCA_DD_1753), 9.21 meters grading 2.50% nickel (hole PCA_DD_1622), 11.82 meters grading 2.39% nickel (hole PCA_DD_1564), 14.05 meters grading 2.33% nickel (hole PCA_DD_1605) and 18.99 meters grading 2.27% nickel (hole PCA_DD_1785). 
All the outstanding results on the Jacutinga deposit comprising 49 holes are presented in Table 2 below. These results contain several high grade intersections including 4.44 meters grading 3.04% nickel (hole PCA_DD_1677), 12.13 meters grading 2.43% nickel (hole PCA_DD_1700), 17.44 meters grading 2.38% nickel (hole PCA_DD_1680), 19.67 meters grading 2.07% nickel (hole PCA_DD_1707) and 17.30 meters grading 2.07% nickel (hole PCA_DD_1688). Drill plan location maps are available on the Company website at www.horizonteminerals.com/uk/en/gallery/
Table 1. Pequizeiro Drilling Programme
50m x 50m Infill Drilling
Intercepts 1% Ni cut-off
Holes PCA-DD-1528 to PCA-DD-1792
& DD_GT_022, 024; DD_GW_001
Hole
From (m)
To (m)
Width (m)
Ni %
PCA_DD_1528
0.65
3.65
3.00
1.21
PCA_DD_1529
6.48
12.00
5.52
1.33
PCA_DD_1530
3.22
19.27
16.05
2.06
PCA_DD_1531
2.28
9.52
7.24
2.01
PCA_DD_1532
NSI
PCA_DD_1533
NSI
PCA_DD_1534
5.40
20.32
14.92
1.67
PCA_DD_1535
2.49
7.55
5.06
1.37
PCA_DD_1536
1.80
4.80
3.00
2.41
ditto
7.09
14.35
7.26
1.29
PCA_DD_1537
4.49
9.79
5.30
1.06
PCA_DD_1538
0.67
11.60
10.93
1.74
PCA_DD_1539
5.31
12.92
7.61
1.03
ditto
15.15
17.28
2.13
1.49
PCA_DD_1540
5.52
14.01
8.49
1.13
PCA_DD_1541
NSI
PCA_DD_1542
NSI
PCA_DD_1543
0.00
6.68
6.68
1.55
PCA_DD_1544
6.18
12.51
6.33
1.68
ditto
16.60
21.10
4.50
1.20
PCA_DD_1545
3.04
6.90
3.86
1.38
PCA_DD_1546
4.40
14.80
10.40
1.80
PCA_DD_1547
4.89
12.10
7.21
1.08
PCA_DD_1548
NSI
PCA_DD_1549
3.73
15.18
11.45
1.36
PCA_DD_1550
2.24
6.10
3.86
1.13
PCA_DD_1551
2.83
12.10
9.27
1.73
PCA_DD_1552
7.63
16.36
8.73
1.33
PCA_DD_1553
2.38
15.60
13.22
2.01
PCA_DD_1554
4.27
15.06
10.79
1.84
PCA_DD_1555
3.90
13.62
9.72
1.53
PCA_DD_1556
2.35
8.10
5.75
1.48
PCA_DD_1557
15.20
25.35
10.15
1.36
PCA_DD_1558
6.20
22.70
16.50
1.41
PCA_DD_1559
8.42
31.60
23.18
1.44
PCA_DD_1560
3.24
13.17
9.93
1.49
PCA_DD_1561
6.10
11.78
5.68
1.83
PCA_DD_1562
8.66
15.70
7.04
1.37
PCA_DD_1563
1.15
18.10
16.95
1.57
PCA_DD_1564
0.94
12.76
11.82
2.39
PCA_DD_1565
3.01
15.10
12.09
1.56
PCA_DD_1566
4.18
12.30
8.12
1.25
PCA_DD_1567
5.71
27.50
21.79
1.29
PCA_DD_1568
6.20
18.98
12.78
1.65
PCA_DD_1569
2.77
18.25
15.48
1.34
PCA_DD_1570
7.71
22.25
14.54
2.01
PCA_DD_1571
3.45
7.14
3.69
1.75
PCA_DD_1572
3.87
22.63
18.76
1.62
PCA_DD_1573
6.43
14.47
8.04
2.22
PCA_DD_1574
11.73
21.10
9.37
1.57
PCA_DD_1575
6.45
9.25
2.80
1.17
PCA_DD_1576
8.69
21.00
12.31
1.31
PCA_DD_1577
2.60
11.04
8.44
1.58
PCA_DD_1578
10.64
13.34
2.70
1.35
PCA_DD_1579
6.86
21.05
14.19
1.63
PCA_DD_1580
6.69
26.25
19.56
1.44
PCA_DD_1581
8.51
12.71
4.20
1.61
PCA_DD_1582
4.27
19.55
15.28
1.78
PCA_DD_1583
11.34
21.10
9.76
1.35
PCA_DD_1584
6.79
16.24
9.45
1.62
PCA_DD_1585
3.44
19.21
15.77
1.78
PCA_DD_1586
5.27
13.55
8.28
1.76
PCA_DD_1587
7.93
19.29
11.36
1.29
PCA_DD_1588
3.72
11.50
7.78
1.70
PCA_DD_1589
6.65
9.33
2.68
1.25
PCA_DD_1590
10.44
22.54
12.10
1.41
PCA_DD_1591
8.18
24.18
16.00
1.47
PCA_DD_1592
8.21
15.51
7.30
1.72
PCA_DD_1593
12.66
29.50
16.84
1.78
PCA_DD_1594
4.98
23.53
18.55
1.95
PCA_DD_1595
3.98
7.66
3.68
1.42
PCA_DD_1596
4.65
11.99
7.34
1.78
PCA_DD_1597
9.15
15.15
6.00
2.71
PCA_DD_1598
3.22
9.61
6.39
1.48
ditto
16.56
20.85
4.29
1.55
PCA_DD_1599
15.24
19.13
3.89
1.45
ditto
21.25
25.75
4.50
1.17
PCA_DD_1600
14.42
26.22
11.80
2.08
PCA_DD_1601
7.99
15.94
7.95
1.82
ditto
18.10
23.16
5.06
1.28
PCA_DD_1602
6.11
19.90
13.79
1.78
PCA_DD_1603
NSI
PCA_DD_1604
5.20
9.57
4.37
1.39
PCA_DD_1605
4.10
18.15
14.05
2.33
PCA_DD_1606
7.81
19.70
11.89
1.86
PCA_DD_1607
NSI
PCA_DD_1608
3.42
14.63
11.21
2.06
ditto
17.95
20.90
2.95
1.31
PCA_DD_1609
13.30
30.20
16.90
2.22
PCA_DD_1610
7.68
21.10
13.42
1.94
PCA_DD_1611
3.70
10.65
6.95
1.34
PCA_DD_1612
9.18
17.53
8.35
1.43
PCA_DD_1613
16.38
29.61
13.23
1.45
PCA_DD_1614
8.78
22.51
13.73
1.88
PCA_DD_1615
7.22
22.73
15.51
1.75
PCA_DD_1616
10.52
26.06
15.54
2.06
PCA_DD_1617
9.15
25.30
16.15
1.43
ditto
28.13
33.15
5.02
1.10
PCA_DD_1618
11.18
24.25
13.07
1.70
PCA_DD_1619
12.05
15.05
3.00
1.15
PCA_DD_1620
13.82
30.02
16.20
1.65
PCA_DD_1621
16.35
27.20
10.85
1.75
PCA_DD_1622
15.20
24.41
9.21
2.50
PCA_DD_1623
11.75
25.35
13.60
1.73
PCA_DD_1624
12.31
27.31
15.00
1.59
PCA_DD_1625
NSI
PCA_DD_1626
13.47
27.15
13.68
2.22
PCA_DD_1627
17.26
28.45
11.19
1.68
PCA_DD_1628
9.88
25.01
15.13
1.63
PCA_DD_1629
9.74
21.02
11.28
1.86
PCA_DD_1630
8.89
27.22
18.33
1.87
PCA_DD_1631
18.70
25.71
7.01
1.27
PCA_DD_1632
11.15
24.74
13.59
1.64
PCA_DD_1633
16.02
30.20
14.18
2.20
PCA_DD_1634
10.88
15.00
4.12
1.27
ditto
21.42
27.30
5.88
1.41
PCA_DD_1635
11.32
28.50
17.18
1.69
PCA_DD_1636
20.63
29.54
8.91
1.44
PCA_DD_1637
12.48
29.03
16.55
1.45
PCA_DD_1638
12.81
27.20
14.39
1.83
PCA_DD_1639
11.41
34.25
22.84
1.86
PCA_DD_1640
13.65
25.45
11.80
1.80
PCA_DD_1641
14.59
25.27
10.68
1.98
PCA_DD_1642
16.39
25.45
9.06
1.63
PCA_DD_1643
16.95
30.15
13.20
1.45
PCA_DD_1644
10.70
20.46
9.76
2.13
PCA_DD_1645
23.23
36.89
13.66
1.44
PCA_DD_1646
10.36
25.70
15.34
1.73
PCA_DD_1647
11.88
27.00
15.12
1.43
PCA_DD_1648
14.26
30.20
15.94
1.74
PCA_DD_1649
20.26
29.38
9.12
1.75
PCA_DD_1650
9.25
22.75
13.50
1.58
PCA_DD_1651
17.38
22.70
5.32
1.30
PCA_DD_1652
NSI
PCA_DD_1653
13.46
27.55
14.09
2.15
PCA_DD_1654
NSI
PCA_DD_1655
8.45
17.54
9.09
1.35
PCA_DD_1656
16.65
26.77
10.12
1.44
PCA_DD_1657
16.70
23.38
6.68
1.95
PCA_DD_1658
NSI
PCA_DD_1659
13.80
27.75
13.95
2.13
PCA_DD_1660
9.20
27.20
18.00
1.73
PCA_DD_1661
14.19
26.65
12.46
1.56
PCA_DD_1662
11.36
21.20
9.84
2.29
PCA_DD_1663
11.00
26.45
15.45
1.71
PCA_DD_1664
17.96
28.40
10.44
1.72
PCA_DD_1665
10.26
27.10
16.84
1.83
PCA_DD_1666
8.13
13.65
5.52
1.67
PCA_DD_1667
NSI
PCA_DD_1668
7.30
25.52
18.22
1.89
PCA_DD_1669
NSI
PCA_DD_1721
4.85
19.99
15.14
1.55
PCA_DD_1722
9.20
17.91
8.71
1.48
PCA_DD_1723
8.32
13.80
5.48
1.52
PCA_DD_1724
7.97
23.00
15.03
1.60
PCA_DD_1725
9.69
24.42
14.73
1.63
PCA_DD_1726
2.88
19.13
16.25
1.63
PCA_DD_1727
NSI
PCA_DD_1728
9.50
19.70
10.20
1.85
PCA_DD_1729
7.50
28.50
21.00
1.88
PCA_DD_1730
5.20
20.69
15.49
2.27
PCA_DD_1731
8.66
24.30
15.64
1.68
PCA_DD_1732
7.20
14.33
7.13
1.62
PCA_DD_1733
12.81
25.60
12.79
2.32
ditto
27.90
31.20
3.30
1.27
PCA_DD_1734
12.18
22.30
10.12
1.63
ditto
24.45
30.80
6.35
1.29
PCA_DD_1735
10.91
24.20
13.29
1.48
PCA_DD_1736
11.93
24.86
12.93
1.30
PCA_DD_1737
17.76
28.41
10.65
1.39
PCA_DD_1738
12.40
24.15
11.75
1.82
PCA_DD_1739
13.12
31.70
18.58
1.60
PCA_DD_1740
13.33
16.70
3.37
1.58
ditto
21.20
29.07
7.87
1.21
PCA_DD_1741
15.73
27.35
11.62
1.85
PCA_DD_1742
10.90
19.60
8.70
1.46
PCA_DD_1743
11.51
27.20
15.69
1.81
PCA_DD_1744
11.20
21.98
10.78
1.83
PCA_DD_1745
9.23
18.57
9.34
1.61
PCA_DD_1746
20.58
27.34
6.76
1.31
PCA_DD_1747
13.46
28.60
15.14
1.90
ditto
38.91
48.10
9.19
1.10
PCA_DD_1748
12.05
29.44
17.39
2.06
ditto
31.67
36.10
4.43
1.36
PCA_DD_1749
16.21
24.20
7.99
3.15
PCA_DD_1750
16.60
26.10
9.50
1.59
PCA_DD_1751
14.65
33.05
18.40
1.79
PCA_DD_1752
14.84
27.76
12.92
1.68
PCA_DD_1753
8.40
19.70
11.30
2.95
PCA_DD_1754
20.30
28.50
8.20
1.25
PCA_DD_1755
9.45
27.32
17.87
1.47
PCA_DD_1756
15.03
24.40
9.37
1.82
PCA_DD_1757
14.14
33.33
19.19
1.69
PCA_DD_1758
11.88
20.95
9.07
1.52
ditto
23.00
31.20
8.20
1.17
PCA_DD_1759
20.91
24.45
3.54
2.02
PCA_DD_1760
15.35
25.85
10.50
1.91
PCA_DD_1761
18.13
25.70
7.57
1.70
PCA_DD_1762
8.04
27.20
19.16
1.84
PCA_DD_1763
25.70
37.70
12.00
1.24
PCA_DD_1764
8.80
11.74
2.94
1.23
PCA_DD_1765
16.80
23.75
6.95
1.49
PCA_DD_1766
NSI
PCA_DD_1767
8.07
18.25
10.18
1.99
ditto
20.44
23.01
2.57
1.21
PCA_DD_1768
16.16
23.67
7.51
1.89
PCA_DD_1769
27.76
38.94
11.18
1.39
PCA_DD_1770
12.20
21.20
9.00
1.31
PCA_DD_1771
12.81
16.84
4.03
1.98
PCA_DD_1772
19.17
24.48
5.31
2.41
PCA_DD_1773
11.43
23.78
12.35
1.52
PCA_DD_1774
27.45
30.00
2.55
1.25
PCA_DD_1775
10.22
21.66
11.44
1.62
PCA_DD_1776
9.13
24.32
15.19
1.65
PCA_DD_1777
14.26
19.70
5.44
1.44
PCA_DD_1778
9.50
25.60
16.10
1.60
PCA_DD_1779
NSI
PCA_DD_1780
3.10
28.58
25.48
1.85
PCA_DD_1781
13.42
32.12
18.70
1.57
PCA_DD_1782
7.70
33.20
25.50
1.85
PCA_DD_1783
14.20
25.70
11.50
1.77
PCA_DD_1784
7.82
25.69
17.87
1.44
PCA_DD_1785
9.41
28.40
18.99
2.27
PCA_DD_1786
17.12
22.93
5.81
1.15
PCA_DD_1787
11.27
17.00
5.73
1.74
ditto
19.00
22.00
3.00
1.21
PCA_DD_1788
7.98
24.20
16.22
1.53
PCA_DD_1789
12.74
20.07
7.33
1.67
PCA_DD_1790
9.58
28.60
19.02
1.70
PCA_DD_1791
6.95
11.20
4.25
1.88
ditto
15.64
18.90
3.26
1.18
PCA_DD_1792
7.40
30.00
22.60
1.51
DD_GT_021
3.87
11.20
7.33
1.45
DD_GT_022
18.11
34.33
16.22
1.42
DD_GT_024
14.44
28.16
13.72
1.87
DD_GW_001
13.41
22.63
9.22
2.20
ditto
25.63
28.56
2.93
1.30
Table 2. Jacutinga Drilling Programme
50m x 50m Infill Drilling
Intercepts 1% Ni cut-off
Holes PCA-DD-1670 to PCA-DD-1716
Hole
From (m)
To (m)
Width (m)
Ni %
PCA_DD_1670
NSI
PCA_DD_1671
3.16
7.70
4.54
1.29
ditto
10.70
18.85
8.15
1.28
ditto
22.48
26.25
3.77
1.51
PCA_DD_1672
NSI
PCA_DD_1673
8.68
24.70
16.02
1.69
ditto
26.70
30.70
4.00
1.04
ditto
34.67
37.71
3.04
1.41
PCA_DD_1674
NSI
PCA_DD_1675
4.08
22.72
18.64
1.94
ditto
25.72
33.78
8.06
1.12
PCA_DD_1676
2.15
6.90
4.75
1.09
PCA_DD_1677
11.06
14.84
3.78
1.48
ditto
16.86
21.30
4.44
3.04
PCA_DD_1678
1.16
10.32
9.16
1.60
PCA_DD_1679
4.00
9.20
5.20
1.93
PCA_DD_1680
10.38
27.82
17.44
2.38
PCA_DD_1681
5.09
16.65
11.56
1.66
PCA_DD_1682
NSI
PCA_DD_1683
3.25
9.83
6.58
1.58
PCA_DD_1684
4.00
6.04
2.04
1.59
PCA_DD_1685
NSI
PCA_DD_1686
NSI
PCA_DD_1687
3.80
24.65
20.85
1.63
PCA_DD_1688
3.98
21.28
17.30
2.07
PCA_DD_1689
6.25
13.75
7.50
1.13
ditto
24.25
31.75
7.50
1.19
PCA_DD_1690
2.24
10.50
8.26
1.41
PCA_DD_1691
6.20
11.77
5.57
1.51
PCA_DD_1692
NSI
PCA_DD_1693
NSI
PCA_DD_1694
4.86
11.90
7.04
1.78
PCA_DD_1695
5.00
12.75
7.75
1.49
PCA_DD_1696
6.40
18.25
11.85
2.00
PCA_DD_1697
4.50
8.43
3.93
1.84
PCA_DD_1698
8.18
19.48
11.30
1.69
ditto
23.13
26.33
3.20
1.11
PCA_DD_1699
5.87
22.17
16.30
1.47
PCA_DD_1700
7.70
19.83
12.13
2.43
PCA_DD_1701
3.89
18.10
14.21
1.40
PCA_DD_1702
18.34
24.06
5.72
1.10
PCA_DD_1703
7.70
18.53
10.83
1.51
PCA_DD_1704
NSI
PCA_DD_1705
NSI
PCA_DD_1706
6.81
15.10
8.29
1.79
PCA_DD_1707
7.91
27.58
19.67
2.07
PCA_DD_1708
6.99
15.20
8.21
1.44
PCA_DD_1709
7.25
22.62
15.37
1.81
ditto
25.93
34.08
8.15
1.24
PCA_DD_1710
NSI
PCA_DD_1711
7.38
10.48
3.10
1.62
PCA_DD_1712
3.89
24.20
20.31
1.54
PCA_DD_1713
10.73
28.55
17.82
1.53
PCA_DD_1714
7.22
19.02
11.80
2.10
PCA_DD_1715
8.91
21.60
12.69
1.60
PCA_DD_1716
NSI
DD_GT_023
2.88
7.70
4.82
1.39
ditto
10.33
18.20
7.87
1.11
DD_GT_025
6.84
16.62
9.78
1.83
NSI: No significant intersection
The compositing of the nickel grades in the individual holes was completed across geological boundaries using a nickel cut-off of 1% with a minimum intercept length of 2.0 metres and a maximum length of internal waste of 2 metres. All holes were vertical and, as these nickel laterite deposits are essentially flat-lying, all widths given are true widths. Core recoveries in the mineralised sections met the appropriate standards for this style of mineralisation and were generally >90%.
Sample preparation and analyses
Samples from drill core were crushed and pulverised at the ALS laboratory in Goiania and the resultant pulps analysed at the ALS laboratory in Lima, Peru using tetraborate fusion and X-Ray Fluorescence ('XRF'). Full QA/QC procedures were followed, including the insertion of standards, duplicates and blanks. Check samples representing approximately 5% of all the samples will be sent to another international laboratory for analysis by XRF.
Horizonte Minerals prepared this news release and David Hall BSc, MSc, Fellow SEG P.Geo. a director of the Company and Qualified Person under National Instrument 43-101, reviewed and approved the drillhole technical information.
* * ENDS * *
For further information visit www.horizonteminerals.com or contact:
Jeremy Martin
Horizonte Minerals plc
Tel: +44 (0) 20 7763 7157
David Hall
Horizonte Minerals plc
Tel: +44 (0) 20 7763 7157
Joanna Weaving 
Christopher Raggett
finnCap Ltd (Corporate Broking)
finnCap Ltd (Corporate Finance)
Tel: +44 (0) 20 7220 0500
Tel: +44 (0) 20 7220 0500
Felicity Winkles Lottie Brocklehurst
St Brides Partners Ltd (PR)
St Brides Partners Ltd
Tel: +44 (0) 20 7236 1177
Tel: +44 (0) 20 7236 1177
About Horizonte Minerals:
Horizonte Minerals plc is an AIM and TSX-listed nickel development company focused in Brazil, which wholly owns the advanced Araguaia nickel laterite project located to the south of the Carajas mineral district of northern Brazil. 
The Company is developing Araguaia as the next major nickel mine in Brazil, with targeted production for early 2018. 
The Project is located south of the Carajas Mining district in northern Brazil, which has good infrastructure in place including rail, road, water and power, and has a current NI 43-101 compliant Mineral Resource of 71.98Mt grading 1.33% Ni (Indicated) and 25.4Mt at 1.21% Ni (Inferred) at a 0.95% nickel cut-off; included in Resources is a Probable Reserve base of 21.2Mt at 1.66%Ni.
A Pre-Feasibility Study has been completed which underpins the robust economics of developing a mine with a targeted 15,000tpa nickel in ferro-nickel output with a 20% Fe-Ni product over a 25 year mine life utilising the proven pyrometallurgical process of Rotary Kiln Electric Furnace technology. At these production rates, the project has a post-tax NPV of US$519m at a discount rate of 8% and an IRR of 20%, with a capital cost of US$582m which puts this project in the lowest quartile of the cost curve.
Horizonte has a strong shareholder structure including Teck Resources Limited 38.5%, Henderson Global Investors 14%, Anglo Pacific Group 7%.
CAUTIONARY STATEMENT REGARDING FORWARD LOOKING INFORMATION
Except for statements of historical fact relating to the Company, certain information contained in this press release constitutes "forward-looking information" under Canadian securities legislation. Forward-looking information includes, but is not limited to, statements with respect to the potential of the Company's current or future property mineral projects; the success of exploration and mining activities; cost and timing of future exploration, production and development; the estimation of mineral resources and reserves and the ability of the Company to achieve its goals in respect of growing its mineral resources; and the realization of mineral resource and reserve estimates. Generally, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "occur" or "be achieved". Forward-looking information is based on the reasonable assumptions, estimates, analysis and opinions of management made in light of its experience and its perception of trends, current conditions and expected developments, as well as other factors that management believes to be relevant and reasonable in the circumstances at the date that such statements are made, and are inherently subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed or implied by such forward-looking information, including but not limited to risks related to: exploration and mining risks, competition from competitors with greater capital; the Company's lack of experience with respect to development-stage mining operations; fluctuations in metal prices; uninsured risks; environmental and other regulatory requirements; exploration, mining and other licences; the Company's future payment obligations; potential disputes with respect to the Company's title to, and the area of, its mining concessions; the Company's dependence on its ability to obtain sufficient financing in the future; the Company's dependence on its relationships with third parties; the Company's joint ventures; the potential of currency fluctuations and political or economic instability in countries in which the Company operates; currency exchange fluctuations; the Company's ability to manage its growth effectively; the trading market for the ordinary shares of the Company; uncertainty with respect to the Company's plans to continue to develop its operations and new projects; the Company's dependence on key personnel; possible conflicts of interest of directors and officers of the Company, and various risks associated with the legal and regulatory framework within which the Company operates. 
Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements.

This information is provided by RNS
The company news service from the London Stock Exchange
  END
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