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NICKEL — Araguaia
- 10 exploration licences over 73,000 hectares in Carajás mineral province.
- Good infrastructure.
- 12 target areas defined, 6 drilled to date.
- 13,200 metres drilled to date - to be upgraded to JORC / NI 43-101 in Q4 2011.
- Contains potential for the delineation of 100 Mt+ Resource.
- Fast track work programme to take project to Feasibility Stage.
Video of Araguaia Drilling
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 Brazil
- Over 2,000 samples taken in Year One identifying multiple gold targets, Year Two definition of drill targets is ongoing
- All new projects defined will be owned 49% by Horizonte and 51% by AngloGold Ashanti
- AngloGold Ashanti 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 Carajás mineral province across 10 exploration licences
- 15 targets identified and 4 drilled
- 3 year Joint Venture agreement signed with Troy Resources to operate and develop Tangara Gp;d {roject - Entitling Troy to 100% interest
- Troy Resources spent US$ 2.8 million, in line with agreement
- 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 Carajás
- Wide spaced RC drilling returned multiple gold intersections
- Extensive sampling and mapping carried out by Horizonte confirms large surface area of gold anomaly
- 3,000 metre drilling programme underway and ongoing through Q3/Q4 2011
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