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NICKEL — Araguaia
- 10 exploration licences over 73 000 hectares in Carajas mineral province.
- Good infrastructure.
- 12 target areas defined, 6 drilled to date.
- 11 600 metres drilled to date — to be upgraded to JORC/ NI 43-101 in Q1 2011.
- Contains potential for the delineation of 100 Mt+ Resource.
- Fast track work program to take project to feasibility stage.
GOLD
Anglo Gold Strategic Alliance
- Strategic Alliance signed September 2009: exploration budget of US$ 5.3 million over 3 years; managed by Horizonte.
- Covering two prospective regions in north and south of Brazil.
- Over 2000 samples taken in Year one; multiple new gold targets identified, Year two program to define drill targets.
- All new projects defined will be owned 49% by Horizonte and 51% by AngloGold.
- AngloGold can elect to earn to 70% on any new project by completing a Pre-feasibility study.
- Horizonte free carried.
Troy Resources — Tangara Joint Venture
- 344km exploration block in Carajas mineral province across 10 exploration licences.
- 15 targets identified and 4 drilled.
- 3 year joint venture agreement with Troy resources signed with Troy Resources.
- Troy to spend US$ 2.8 million by December 2010 to earn to 100%
- If Troy elect to earn to 100% — an additional US$2 million paid in cash to Horizonte and a royalty of US$30 / Oz paid on any gold produced.
Falcao Gold Project
- Large gold target 100% owned by Horizonte.
- Former BHP grassroots discovery in southern Carajas.
- Wide spaced RC drilling returned multiple gold intersections.
- Extensive sampling and mapping carried out by Horizonte confirms large surface area of gold anomaly.
- Drilling programme planned for late 2010
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