TIDMJAN
RNS Number : 8917L
Jangada Mines PLC
15 January 2021
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
15 January 2021
Jangada Mines plc ('Jangada' or the 'Company')
ValOre Announcement
Jangada Mines plc, a natural resources company, is pleased to
note the announcement released on 15 January 2021 by TSX-V listed
ValOre Metals Corp. ('ValOre'), in which Jangada holds a 17.68 per
cent interest.
The announcement has been reproduced exactly as reported below,
other than for the inclusion of links, and can be viewed in full on
ValOre's website using the following link:
http://valoremetals.com/news-media/news-releases/2021/valore-drills-shallow-pge-mineralization-at-santo-amaro-target-pedra-branca-br-1465-metres-of-129-gt-2pgeau-from-surface-and-1181-metres-of-091-gt-2pge--au-from-surface.
ValOre Drills Shallow PGE Mineralization at Santo Amaro Target,
Pedra Branca:
14.65 metres of 1.29 g/t 2PGE+Au from surface and 11.81 metres
of 0.91 g/t 2PGE + Au from surface
Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX--V: VO; OTC:
KVLQF; Frankfurt: KEQ0, "the Company") today announced assay
results for Santo Amaro zone drilling at ValOre's 100%-owned Pedra
Branca Platinum Group Element ("PGE") Project in northeastern
Brazil. Near surface PGE mineralization was intersected in eleven
of the twelve core drill holes that intersected the ultramafic
("UM") intrusion associated with the Santo Amaro NI 43-101 Inferred
Resource. This drilling successfully extended near-surface
PGE-mineralization along strike to the east and west, which remains
open in both directions. In addition, a new, near-surface
PGE-bearing zone was drilled 250 metres to the north-northwest of
the Santo Amaro resource area.
"This phase of drilling at Santo Amaro was very successful. We
intersected PGE mineralization at shallow depths in multiple zones,
including an area 250 metres to the north-northwest of the known
Santo Amaro resource," stated ValOre's Chairman and CEO, Jim
Paterson . "Our exploration team identified several previously
unmapped ultramafic rock units which extend well beyond the
currently defined resource area boundaries. A mapping, soil and
rock sampling, and prospecting program is underway in this area,
with follow-up drilling planned as soon as practical."
Highlights from Santo Amaro Drilling:
-- Shallow PGE mineralization intersected in eleven of twelve 2020 drill holes;
-- PGE mineralization drilled along-strike to the west of the Santo Amaro resource area in:
o Drill Hole DD20SA23 - 14.65 metres ("m") grading 1.29 grams
per tonne ("g/t") palladium + platinum + gold ("2PGE+Au") from
surface;
-- PGE mineralization drilled along-strike to the east of the Santo Amaro resource area in:
o Drill Hole DD20SA18 - 34.91 m grading 0.61 g/t 2PGE+Au from
16.50 m;
-- An emerging near-surface PGE zone drilled 250 m
north-northwest of the Santo Amaro resource area in:
o Drill Hole DD20SA16 - 4.00 m grading 3.10 g/t 2PGE+Au from
67.00 m, including 1.30 m grading 7.95 g/t 2PGE+Au from 67.00 m
o Drill hole DD20SA22 - 11.81 m grading 0.91 g/t 2PGE+Au from
surface.
Santo Amaro Target Area and the 2019 NI 43-101 Resource
Santo Amaro is one of five defined PGE deposit areas at Pedra
Branca that together host an inferred resource totaling 1,067,000
ounces ("oz") 2PGE+Au contained in 27.2 million tonnes ("Mt")
grading 1.22 g/t 2PGE+Au; Please see the ValOre announcement for
the Pedra Branca NI 43-101 Technical Report. PGE mineralization for
all five of the resource deposit areas outcrops at surface, giving
these inferred resources a reasonable expectation of eventual
economic extraction via open pit methods. Please see the ValOre
announcement for Figure 1A and 1B, showing the location of the five
Pedra Branca PGE resource areas and a detailed view of Santo
Amaro.
The 2019 Santo Amaro resource totals 203,000 oz 2PGE+Au
contained in 5.3 Mt grading 1.19 g/t and represents the most
underexplored deposit area at Pedra Branca. Extensive historical
PGE-in-soils anomalies, magnetic targets, and newly mapped,
untested UM belts make Santo Amaro a compelling resource expansion
and PGE discovery region. Geological field mapping preceding the
2020 drill program identified several previously unmapped,
prospective ultramafic belts which extend well beyond the area
hosting the defined resource. A follow-up mapping, soil sampling,
rock sampling, and prospecting program is on-going.
Santo Amaro 2020 Drill Results
During 2020, a total of 1,366 m were drilled in twelve core
holes at Santo Amaro. PGE mineralization in the UM intrusion that
hosts the Santo Amaro resource was extended along strike to the
east and west as shown by at- to near-surface PGE drill intercepts.
This zone remains open in both directions. In addition, an emerging
shallow PGE body was drilled approximately 250 m north-northwest of
the resource area. Table 1 summarizes highlight intervals from 2020
Santo Amaro drilling.
Table 1: Summary of Significant Core Assay Results from 2020
Santo Amaro Drilling:
Hole ID Depth From Depth To (m) Interval 2PGE+Au Interval Summary*
(m) (m) (g/t)
DD20SA13 16.00 40.65 24.65 0.28 24.65m grading 0.28 g/t 2PGE+Au from 16.00m
incl. 15.65m grading 0.35 g/t 2PGE+Au from 25.00m
25.00 40.65 15.65 0.35
DD20SA14 5.60 8.36 2.76 0.40 2.76m grading 0.40 g/t 2PGE+Au from 5.60m
DD20SA15 72.88 77.05 4.17 0.43 4.17m grading 0.43 g/t 2PGE+Au from 72.88m
and 2.00m grading 0.31 g/t 2PGE+Au from 113.00m
113.00 115.00 2.00 0.31
DD20SA16 8.95 12.65 3.70 0.32 3.70m grading 0.32 g/t 2PGE+Au from 8.95m
and 4.00m grading 3.10 g/t 2PGE+Au from 67.00m
incl. 1.30m grading 7.95 g/t 2PGE+Au from 67.00m
67.00 71.00 4.00 3.10
67.00 68.30 1.30 7.95
DD20SA18 16.50 51.41 34.91 0.61 34.91m grading 0.61 g/t 2PGE+Au from 16.50m
incl. 3.51m grading 1.88 g/t 2PGE+Au from 37.49m
and 3.51m grading 2.21 g/t 2PGE+Au from 66.19m
and 5.00m grading 0.97 g/t 2PGE+Au from 108.00m
incl. 1.00m grading 3.84 g/t 2PGE+Au from 110.00m
37.49 41.00 3.51 1.88
66.19 69.70 3.51 2.21
108.00 113.00 5.00 0.97
110.00 111.00 1.00 3.84
DD20SA19 33.60 37.90 4.30 0.45 4.30m grading 0.45 g/t 2PGE+Au from 33.60m
DD20SA20 1.00 20.45 19.45 0.20 19.45m grading 0.20 g/t 2PGE+Au from 1.00m
DD20SA22 0.00 11.81 11.81 0.91 11.81m grading 0.91 g/t 2PGE+Au from 0.00m
and 4.93m grading 0.32 g/t 2PGE+Au from 106.45m
106.45 111.38 4.93 0.32
DD20SA23 0.00 20.00 20.00 0.98 20.00m grading 0.90 g/t 2PGE+Au from 0.00
14.65m grading 1.29 g/t 2PGE+Au from 0.00
1.10 7.00 5.90 1.79
DD20SA24 49.00 54.61 5.61 0.28 5.61m grading 0.28 g/t 2PGE+Au from 49.00m
* Reported assay intervals are estimated to be 90-100% true
width
Drill hole DD20SA23
Drill hole DD20SA23 stepped out 70 m to the west and along
strike from the western-most resource hole at Santo Amaro. The
target UM intrusion was intersected from surface to 14.65 m depth,
characterized by weathered chromite-bearing peridotites and
dunites. The drill hole returned an assay highlight of 14.65 m
grading 1.29 g/t 2PGE+Au from surface. Mineralization remains open
along strike to the west.
Drill hole DD20SA18
Drill hole DD20SA18 stepped out 40 m to the east and along
strike from the eastern-most resource hole at Santo Amaro. The
target UM intrusion was first intersected from 16.50 m to 51.70 m,
with local metre-scale intercalated intervals of amphibolite and
gneiss. A second package of PGE-bearing intrusion was intercepted
from 100.50 m to 133.60 m depth. Variably weathered peridotites,
dunites and local UM schists dominated the target sequence. The
drill hole returned an assay highlight of 34.91 m grading 0.61 g/t
2PGE+Au from 16.50 m. Mineralization remains open in all
directions.
Drill hole DD20SA16
Drill hole DD20SA16 was collared approximately 250 m
north-northwest of the resource area and stepped 80 m to the
east-northeast and down-dip of historical drill hole DD02SA04,
which produced a historical drill core intercept of 10.30 m grading
1.10 g/t 2PGE+Au from 43.30 m depth.
DD20SA16 drilled into three packages of ultramafic rocks,
collectively totaling 60.83 m in thickness. The thickest UM
sequence was intersected from 50.00 m to 92.18 m (42.18 m in
thickness), dominated by variably weathered peridotites and
dunites, with local metre-scale serpentinites and phlogopite
schists. A 0.30-metre-thick chromitite reef was intercepted at
67.20 metres depth and produced a peak assay of 11.49 g/t 2PGE+Au.
The drill hole retuned an assay highlight of 4.00 m grading 3.10
g/t 2PGE+Au from 67.00 m, including 1.30 m grading 7.95 g/t 2PGE+Au
from 67.00 m. Mineralization remains open in all directions.
Drill hole DD20SA22
Drill hole DD20SA22 stepped out 55 m to the southeast and along
strike from DD20SA16. The target UM intrusion was intersected from
surface to 18.65 m depth, characterized by weathered
chromite-bearing peridotites and dunites. The drill hole returned
an assay highlight of 11.81 m grading 0.91 g/t 2PGE+Au from
surface. Mineralization remains open in all directions.
Pedra Branca 2020 Drill Program
Please see ValOre's news release of August 25, 2020 for detailed
information regarding:
-- Pedra Branca 2020 Drill Program (Phase 1 and Phase 2)
-- Quality Control/Quality Assurance ("QA/QC") and Grade Interval Reporting
-- Analytical Procedures, SGS Geosol
-- About Servitec Foraco Sondagem SA
-- ValOre and Servitec Foraco COVID-19 Protocols
http://valoremetals.com/news-media/news-releases/2020/
Qualified Person (QP)
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements set out in NI
43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre's
QP, who oversees New Project Review for ValOre.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX--V: VO) is a Canadian company with a
portfolio of high--quality exploration projects. ValOre's team aims
to deploy capital and knowledge on projects which benefit from
substantial prior investment by previous owners, existence of
high-value mineralization on a large scale, and the possibility of
adding tangible value through exploration, process improvement, and
innovation.
In May 2019, ValOre announced the acquisition of the Pedra
Branca Platinum Group Elements (PGE) property, in Brazil, to
bolster its existing Angilak uranium, Genesis/Hatchet uranium and
Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 38 exploration licenses
covering a total area of 38,940 hectares (96,223 acres) in
northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit
areas host, in aggregate, a current Inferred Resource of 1,067,000
ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t
2PGE+Au (see ValOre's July 23, 2019 news release). All the
currently known Pedra Branca inferred PGE resources are potentially
open pittable.
Comprehensive exploration programs have demonstrated the
"District Scale" potential of ValOre's Angilak Property in Nunavut
Territory, Canada that hosts the Lac 50 Trend having a current
Inferred Resource of 2,831,000 tonnes grading 0.69% U(3) O(8) ,
totaling 43.3 million pounds U(3) O(8) . For disclosure related to
the inferred resource for the Lac 50 Trend uranium deposits, please
refer to ValOre's news release of March 1, 2013.
ValOre's team has forged strong relationships with sophisticated
resource sector investors and partner Nunavut Tunngavik Inc. (NTI)
on both the Angilak and Baffin Gold Properties. ValOre was the
first company to sign a comprehensive agreement to explore for
uranium on Inuit Owned Lands in Nunavut Territory and is committed
to building shareholder value while adhering to high levels of
environmental and safety standards and proactive local community
engagement.
On behalf of the Board of Directors,
"Jim Paterson"
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Metals Corp. or this news
release, please visit our website at valoremetals.com or contact
Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or
by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of Discovery Group. For
more information please visit: discoverygroup.ca
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains "forward-looking statements" within
the meaning of applicable securities laws. Although ValOre believes
that the expectations reflected in its forward-looking statements
are reasonable, such statements have been based on factors and
assumptions concerning future events that may prove to be
inaccurate. These factors and assumptions are based upon currently
available information to ValOre. Such statements are subject to
known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or
events to differ materially from those stated, anticipated or
implied in the forward-looking statements. A number of important
factors including those set forth in other public filings could
cause actual outcomes and results to differ materially from those
expressed in these forward-looking statements. Factors that could
cause the actual results to differ materially from those in
forward-looking statements include the future operations of ValOre
and economic factors. Readers are cautioned to not place undue
reliance on forward-looking statements. The statements in this
press release are made as of the date of this release and, except
as required by applicable law, ValOre does not undertake any
obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise. ValOre undertakes no obligation to
comment on analyses, expectations or statements made by third
parties in respect of ValOre, or its financial or operating results
or (as applicable), their securities.
ValOre Metals Corp.
Suite 1020
800 West Pender St
Vancouver, BC | V6C 2V6
contact@valoremetals.com
valoremetals.com
This announcement contains inside information for the purposes
of Article 7 of EU Regulation 596/2014. Upon the publication of
this announcement, this inside information is now considered to be
in the public domain.
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 Beth Melluish 1177
(Financial PR)
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