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”
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