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Tuesday, 25th November 2008 (986 views)

Horizonte Minerals has announced that it has generated further positive gold assay results from its Tangara gold project.

According to the firm, a pipeline of gold projects is being developed at the site and it is in a good cash position to fund planned work programmes.

Jeremy Martin, Horizonte chief executive, said: "With the changes in the global market place and the drop in metal prices, our exploration activities over the next 12 to 18 months will primarily be focusing on gold."

Horizonte Minerals has stated that it is intending to concentrate its efforts on its gold projects in order to maximise profits and reduce costs.

In a recent statement, the company said that the six months to June 30th 2008 had been "a period of strong progress" during which the Troy Resources joint venture initiative progressed well at Tangara gold project and an option was taken over a silver-gold project in Peru from Barrick Gold.

The international mineral resources exploration group is listed on the AIM exchange is focused on the identification, appraisal and development of gold deposits in Brazil and Peru.

 

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