TIDMJAN

RNS Number : 3379V

Jangada Mines PLC

08 April 2019

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

8 April 2019

Jangada Mines plc ('Jangada' or the 'Company')

Completion of Hydrology Study as Bankable Feasibility Study Nears Completion

Jangada Mines plc, a natural resources company developing the Pedra Branca Project, South America's largest and most advanced platinum group metals ('PGM') and nickel project, and the Ptombeiras West Vanadium Project, is pleased to provide an update on the bankable feasibility study ('BFS') currently underway at its Pedra Branca project (the 'Project') in north-eastern Brazil.

Highlights

-- On track with completion of BFS to confirm the technical and economic viability of the Project

-- Completed hydrology study - successfully demonstrated readily accessible sources of water proximate to the Project at minimal potential risk to operations

o Two major dams, situated within an 18-dam drainage basin, identified as immediate sources of water for the operation

o Assessment shows a low-risk of water ingress into production pits

-- Verification of the metallurgy, environmental, legal and social components of the BFS near completion, following which, the final mine design process can commence

Brian McMaster, Executive Chairman of Jangada said, "The BFS for the Pedra Branca project, to further confirm its technical and economic viability, is progressing on track and according to the schedule previously outlined, with anticipated completion during Q2 2019. The hydrology study was an integral component of confirming the technical viability of this exciting asset; the positive findings bolster our confidence to continue to expedite development at the Project. We look forward to updating shareholders with our progress soon."

Further Information

The Company is in the process of completing a BFS at its 48,000 hectare Pedra Branca PGM-nickel project, which has a JORC (2012) Compliant Resource of 2.2 million oz of PGM+Au, 298 Mlb of nickel, 50 Mlb of copper and 15 Mlb of cobalt. The Company is currently focused on the initial verification phase of the two-part study, which, on completion, will enable the Company to move towards the mine design process - see summary below:

 
             Component               Expected Completion Date 
      Preliminary Flow Sheet                Completed 
                                    ------------------------- 
    Nickel Resource Estimation              Completed 
                                    ------------------------- 
        PGM Resource Review                 Completed 
                                    ------------------------- 
          Hydrology Study                   Completed 
                                    ------------------------- 
  Legal, Environmental and Social       Nearing completion 
              Factors 
                                    ------------------------- 
 Metallurgy Test Work Verification      Nearing completion 
                                    -------------------------

Jangada has now completed the hydrology study component of the BFS, which focused on the water sources for the operation and evaluated potential ground and surface sources. The Project is located within the Banabuiu drainage basin, hosting 18 registered dams. Two major dams are located within a 32km radius of the Project centre and have been identified as potential water sources for the operation and a third large capacity dam is located further afield from the Project. Additionally, groundwater is sufficient to meet ancillary and administrative needs for the Project. Furthermore, groundwater flows within the confines of the production pits are anticipated to be very low and pose very low risk to the safety and operational integrity of the Project. The final water requirement for the Project will be based on the finalisation of the plant design, which will inform the Company's water acquisition strategy.

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR").

* ENDS *

For further information, please visit www.jangadamines.com or contact:

 
 Jangada Mines plc         Brian McMaster (Chairman)   Tel: +44 (0) 20 7317 
                                                        6629 
 
 Strand Hanson Limited     James Spinney               Tel: +44 (0)20 7409 
  (Nominated & Financial    Ritchie Balmer              3494 
  Adviser)                  Jack Botros 
 
 
 Brandon Hill Capital      Jonathan Evans              Tel: +44 (0)20 3463 
  (Broker)                  Oliver Stansfield           5000 
 
 St Brides Partners        Isabel de Salis             Tel: +44 (0)20 7236 
  Ltd                       Gaby Jenner                 1177 
  (Financial PR)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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April 08, 2019 02:00 ET (06:00 GMT)

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