on Thursday revealed positive results from metallurgical and smelting test work on its Vermelho nickel cobalt project located in northern Brazil.
The ore samples from Vermelho were crushed to 2mm, and a portion was pulverised at 325 mesh to provide samples for thermogravimetric and chemical analysis. A sample was also tested for particle size distribution.
The tests showed that the average grade of ferronical was 31.8% Ni, a typical commercial grade. An analysis showed that with minimum convention refining, the ferronickel would readily meet the requirements of commercial stainless-steel plants.
The data from the test work will be used in its pre feasibiilty study for the project. Combined with the test work being conducted its limonite samples, the company aims to demonstrate a robust set of economics.
Shares in Horizonte ticked up 4.37% to 2.15p each
Horizonte CEO Jeremy Martin said, "We are pleased to report the test work has confirmed that it is possible to produce high grade, commercial specification ferronickel from the saprolite and transition ore at Vermelho.”
“These results confirm the suitability of the proposed conventional Rotary Kiln Electric Furnace ("RKEF") process selected for the Company's Araguaia ferronickel project is also suitable for processing Vermelho ore”
Follow News & Updates from Horizonte Minerals here:
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.
SP Angel research note on commodities and miners, featuring: Australian Vanadium (AVL AU) – MOU for VSUN grant and instillation of a new Solar and VRFB battery solution in Pilbara Chaarat Gold* (CGH LN) – Interims: acquisition of producing Kapan and de-risking of Tulkubash development project Rambler Metals & Mining* (RMM LN) – General meeting Serabi Gold (SRB LN) – Presentation highlights pathway to 100,000oz gold production
Morrison (Wm) Supermarkets is to extend its online partnership with Amazon as it reported disappointing sales compared with those in last year’s hot summer, London Stock Exchange Group the target of a £32 billion bid from its Hong Kong rival, is considering moving its headquarters out of the Square Mile for the first time in its history
British Airways has started emailing passengers to cancel flights two weeks ahead of another strike by pilots. The industrial action on 27 September is expected to affect hundreds of flights and tens of thousands of passengers.
SP Angel research note on commodities and miners, featuring: Arc Minerals* (ARCM LN) STRONG BUY – More high grade copper discovered at Cheyeza in Zambia (inc. 10.5m grading 2.79% copper) Cora Gold* (CORA LN) – Interims Botswana Diamonds (BOD LN)* – Environmental authorisation at Marsfontein Strongbow Exploration* (SBW CN) – Tungsten royalty rights