TIDMJAN
RNS Number : 3198T
Jangada Mines PLC
24 March 2021
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
24 March 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 23 March 2021 by TSX-V listed
ValOre Metals Corp. ('ValOre').
The Company advises that, unless management think otherwise
necessary or relevant at the time, it will no longer be informing
shareholders via RNS of each announcement released by ValOre, in
which is the Company has a current c 9 per cent interest in.
Shareholders are encouraged to visit ValOre's website to view the
most current announcements related to its projects.
The announcement dated 23 March 2021 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-establishes-new-shallow-pge-target-at-pedra-branca
ValOre Establishes New Shallow PGE Target at Pedra Branca:
20 metres grading 1.06 g/t 2PGE+Au in trench and 10 metres
grading 1.64 g/t from surface in Trado(R) auger hole
20 metres grading 1.06 g/t 2PGE+Au in trench and 10 metres
grading 1.64 g/t from surface in Trado(R) auger hole
Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX--V: VO; OTC:
KVLQF; Frankfurt: KEQ0, "the Company") today announced assay
results for 3 trenches and 19 Trado(R) auger holes collected from
the Santo Amaro South target area at ValOre's 100%-owned Pedra
Branca Platinum Group Elements ("PGE") Project in northeastern
Brazil.
"We have just begun receiving encouraging assays from Trado(R)
auger drilling and mechanical trenching, which define a
PGE-mineralized trend 800 metres to the south of the Santo Amaro
inferred resource," stated ValOre's Chairman and CEO, Jim Paterson.
"Follow-up work will test continuity and extensions of the
undrilled >400 m long PGE-mineralized ultramafic belt at Santo
Amaro South."
Santo Amaro South Trenching and Trado(R) Auger Drilling
Highlights:
-- Three trenches returned significant intervals of PGE mineralization, including:
o 20 metres ("m") grading 1.06 grams per tonne palladium +
platinum + gold ("g/t 2PGE+Au"), including 7 m grading 1.93 g/t
2PGE+Au
-- Contained within a broader interval of 61 m grading 0.43 g/t
2PGE+Au
-- Individual sample assays as high as 5.07 g/t 2PGE+Au
o 77 m grading 0.20 g/t 2PGE+Au
o 11 m grading 0.35 g/t 2PGE+Au
-- Trado(R) auger drilling assay highlights, from surface, include:
o 10 m grading 1.64 g/t 2PGE+Au
o 4 m grading 1.09 g/t 2PGE+Au
o 3 m grading 0.66 g/t 2PGE+Au
-- Assay results validate Trado(R) auger drilling as an
effective exploration technique to confirm near-surface PGE
mineralization at Pedra Branca and advance targets to drill-ready
stage.
Santo Amaro South 2021 Trado(R) Auger Drilling and Trenching
Program
Assay results for 3 east-west trenches (194 total samples) and
19 vertical Trado(R) auger holes (71 total samples) have been
received for the Santo Amaro South target area, with significant
PGE assays returned for all 3 trenches and multiple Trado(R) auger
holes. Trado(R) hole logging, trench mapping, and subsequent assay
results have defined multiple un-drilled, north-south-trending
mineralized UM packages which exceed 400 m in length and remain
open along both directions of geological strike. See Table 1 below
for a summary of significant trench and Trado(R) PGE assay
intervals, showing a map of the Santo Amaro and Santo Amaro region,
showing a detailed view of the Santo Amaro South target, and
showing cross sections of the 3 trenches with coincident Trado(R)
auger holes.
The northernmost trench, TR21SAS01, totalled 79 m in length, and
exposed mineralized ultramafics (peridotites and dunites with
subordinate serpentinites) from 17 to 79 m, with localized
centimetric chromitite horizons. The trench returned a channel
sample assay of 20 m grading 1.06 g/t 2PGE+Au from 18 m, within a
broader mineralized interval of 61 m grading 0.43 g/t 2PGE+Au from
18 m.
The southernmost trench, TR21SAS03 was excavated approximately
400 m south of TR21SA01, totalled 85 m in length, and exposed
mineralized peridotites (with minor serpentinites) from 0 to 81 m.
The trench returned a channel sample assay of 77 m grading 0.20 g/t
2PGE+Au from 49 m, including 44 m grading 0.25 g/t 2PGE+Au and 4 m
grading 0.61 g/t 2PGE+Au from 53 m.
Trench TR21SAS02 was opened approximately 200 m northwest of
TR21SAS03 and 250 m southwest of TR21SAS01, totalled 77 m in
length, and exposed mineralized ultramafic derived rocks from 51.6
to 58.3 m. The trench returned a channel sample assay of 11 m
grading 0.35 g/t 2PGE+Au from 49 m.
Trado(R) auger drilling proved highly effective at locating
prospective UM rocks beneath overburden and confirming the presence
of shallow (10 m or less) associated PGE mineralization. Trado(R)
hole AD21SAS12, situated 160 m west (up-dip) of trench TR21SAS03,
drilled 10 m of highly magnetic pale-green to light-brown soil with
UM rock fragments from surface, and returned an assay of 10 m
grading 1.64 g/t. Sixty metres to the northeast, Trado(R) hole
AD21SAS08, drilled a correlative sequence from surface to 4 m depth
which returned a 2PGE+Au assay of 1.09 g/t. Trado(R) hole AD21SAS29
tested the sequence 260 m to the northeast of AD21SAS08, and
returned an assay of 3 m grading 0.66 g/t from surface. These
results validate the use of Trado(R) auger drilling to identify
shallow PGE mineralization at Pedra Branca, and the use of this
exploration technique will be implemented property-wide to advance
targets to drill-ready stage.
Table 1: Santo Amaro South Trado(R) Auger Drilling and Trenching
Assay Highlights
2021 Trenching Highlights
Trench Channel From (m) Channel To (m) Length (m) 2PGE+Au (g/t)
TR21SAS01 18 38 20 1.06
TR21SAS01 18 79 61 0.43
TR21SAS03 4 81 77 0.2
TR21SAS02 49 60 11 0.35
2021 Trado(R) Auger Drilling Highlights
Trado(R) Hole Depth From (m) Depth To (m) Length (m) 2PGE+Au (g/t)
AD21SAS12 0 10 10 1.64
AD21SAS08 0 4 4 1.09
AD21SAS29 0 3 3 0.66
About Trado(R) Auger Drilling
The Trado(R) is a portable machine-powered auger drill
specifically designed for mineral exploration. The device is
capable of drill up to 30 meters depth through soil and saprolite
rock, and most holes terminate at the onset of competent bedrock.
Overburden is typically shallow at Pedra Branca (< 5 m), and
thus ValOre's average Trado(R) hole depth is approximately 3 m,
with a maximum depth of 10 m, to date. The tool is manufactured by
the Brazilian company Trado(R) Equipment and Services, founded in
1978, and has been widely used by junior and major companies
throughout Brazil. ValOre's Trado(R) auger hole locations were
captured by handheld GPS, and auger hole samples were continuously
collected in one-meter intervals from surface to end of hole. The
first 20 centimeters ("cm") interval of every hole is discarded to
avoid contamination by colluvium material. Auger holes were drilled
with 4" diameter bits, and material is recovered from inside the
auger bit, which can accommodate up to 20 to 30 cm of material per
run. Approximately 7 to 10 runs are necessary to complete a
one-meter sample. At the drill site, the material from each run is
removed from the bit and collected in plastic bins. Once the
metre-long interval has been drilled, the sample is homogenized
over clean plastic sheets, and a representative aliquot poured into
plastic sample bags. Samples are subsequently transported to
ValOre's logging facility, in Capitão Mor, Ceará, Brazil, where
magnetic susceptibility and portable-XRF readings are taken for
each sample. An identification tag is inserted in each bag, and
samples are sent with an ensured chain of custody to SGS Geosol
Vespasiano, an accredited mineral analysis laboratory in Minas
Gerais, for geochemical analyses. All samples are analyzed for
PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and
ICP-AES techniques. Certified PGE ore reference standards, blanks
and field duplicates are inserted as a part of ValOre's QA/QC
program. No QA/QC issues were noted with the results reported
herein.
Trenching Methodology
Trenches at Santo Amaro South were mechanically opened
perpendicular to the local structural trend, along an east-west
azimuth. Trenches vary from 70 to 90 m in length, and 60 to 80 cm
in width, reaching up to 3 m depth. After detailed geological
mapping of trench walls and floor, a channel is marked on the north
wall, with wood markers placed at "from" and "to" positions for
each sample interval. Average sample interval length is 1 m, while
respecting geological contacts, observed mineralization, and
alteration features. Samples were taken with a chisel-like tool and
dropped to plastic bins placed underneath the channel. The material
was then identified and bagged at trench site, prior to transport
to ValOre's logging facility, where portable XRF and magnetic
susceptibility measurements are taken. All samples are sent with an
ensured chain of custody to SGS Geosol Vespasiano, an accredited
mineral analysis laboratory in Minas Gerais, for geochemical
analyses. All samples are analyzed for PGE+Au (Pd, Pt, Au) content
using standard 50g Fire Assay and ICP-AES techniques. Certified PGE
ore reference standards, blanks and field duplicates are inserted
as a part of ValOre's QA/QC program. No QA/QC issues were noted
with the results reported herein.
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 39 exploration licenses
covering a total area of 39,987 hectares (98,810 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 at 604.653.9464, 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 info@stbridespartners.co.uk
Ltd Charlie Hollinshead
(Financial PR)
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