avb has excellent real estate! :) stay +ve!, page-23

Looks like we have a new owner next to the Ni PGM tennements AVB farmed into with Lara ex. heres the artical


Horizonte Minerals expands footprint at Araguaia with acquisition of two nickel projects
5:34 am The firm will buy 100 percent of the Vila Oito and Floresta projects in the north of the country in a deal valued at around C$2 million Horizonte Minerals PLC (LON:HZM,TSE:HZM) has expanded its footprint at its flagship Araguaia nickel project in Brazil with the purchase of two nickel projects.

The firm will buy 100 percent of the Vila Oito and Floresta projects in the north of the country in a deal valued at around C$2 million.

The company said today it had entered a definitive agreement to buy the projects south of the Caraj?s mineral district from certain affiliates of the Canadian-listed firm Lara Exploration Ltd (CVE: LRA).

Horizonte will pay for the projects a total of 8.5 million new shares. Based on the 20 day average price as at 18 January 2011 - the day of signing the agreement with Lara - this equates to around C$2 million, it said.

The two projects will form part of the ongoing 20,000 metre resource drilling programme at Araguaia giving the company the potential to add to the overall project resource target.

Horizonte's chief executive Jeremy Martin said: "We are pleased to have finalised this acquisition which further consolidates our position around our flagship Araguaia project.

"The Vila Oito target represents the western extension of one of the principal target areas on the Araguaia Project, from which we see immediate resource targets to follow up.

"The Floresta project has a well-defined geochemical anomaly that also requires follow up work. As part of the ongoing 20,000m drill programme these new areas will be evaluated with the aim of adding additional resources on the project."

The Vila Oito project has a non-compliant NI 43-101 potential resource at a 1 percent nickel ('Ni') cut-off of between 10 to 11 million tonnes grading 1.3 to 1.4 percent Ni.

Meanwhile, the Floresta project is a well defined target where shallow auger drilling results included 6.7metres grading 1.28 percent Ni.

Horizonte also said that application will be made to the London Stock Exchange for 8,500,000 new ordinary shares in the firm to be admitted to trading on AIM and to the Toronto Stock Exchange.