TIDMJAN
RNS Number : 6430U
Jangada Mines PLC
07 April 2021
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
7 April 2021
Jangada Mines plc
Additional Drilling Results at Pitombeiras Vanadium Project
Jangada Mines plc ('Jangada' or 'the Company'), a natural
resources company, is pleased to announce two additional drill
results of the second phase drilling programme at its 100% owned
Pitombeiras Vanadium Project ('Pitombeiras Project' or 'the
Project') located in Ceará State, Brazil. The 2,000-metre diamond
drilling ('DD') programme, which commenced in October 2020,
continues to evaluate the structural corridor associated with the
known vanadium titanomagnetite ('VTM') mineralisation, including
the Pitombeiras North, Pitombeiras South and Goela deposits.
Highlights:
-- 19 drill holes completed to date for a total of 1,245.90 linear metres.
-- 14 holes intersected VTM mineralisation, and 12 holes'
results have been received from laboratory.
-- Results recently received indicate that the VTM
mineralisation on the Southern portion of deposit area remains open
for resources expansion:
o 22.22 metres from surface at 0.62% vanadium pentoxide ('V(2)
O(5) '), 12.07% titanium dioxide ('TiO(2) ') and 58.97% ferric
oxide ('Fe(2) O(3) '), including 4.40 metres at 0.78% V(2) O(5) ,
14.40% TiO(2) and 68.29% Fe(2) O(3)
o 4.58 metres at 0.39% V(2) O(5) , 7.84% TiO(2) and 39.06% Fe(2)
O(3)
-- Advancing other workstreams including metallurgical
testworks, petrographic and mineralogical studies, and a detailed
topographic drone survey - an environmental baseline study is on
course to start early this month.
Brian McMaster, Executive Chairman of Jangada, said: "The drill
results continue to provide us with valuable information about the
Pitombeiras North deposit, underpinning grade and length
consistencies and demonstrating footprint extensions beyond the
known resource area. The Pitombeiras North deposit continues to be
opened at its south-eastern, south-western, and north-north-eastern
portions, reinforcing our confidence on the increase of the
existing mineral resources, which will further strengthen the
economics of the PEA. Likewise, Jangada continues to further
advance key project development initiatives, which are all part of
our plans to become a producer of Ferrovanadium concentrate in
2022."
Further Information:
The Company is focused on developing the Pitombeiras Vanadium
Project towards commencing production, subject to sourcing the
necessary construction financing, in 2022. Accordingly, work is
ongoing to strengthen the results of a Preliminary Economic
Assessment ('PEA') announced on 16 February 2021, which confirmed
that Pitombeiras has robust economics and excellent potential to
become a profitable producer of Ferrovanadium concentrate (62%/65%
Fe, plus V(2) O(5) credit). The revised PEA is expected to be
completed in Q2 2021 and will incorporate the results of the
current ongoing drilling programme, which is focused on expanding
the Project's mineral resource base, as well as the results from
metallurgical testing.
In total, 19 drillholes have been completed to date for a total
of 1,245.90 linear metres, or about 62% of the ongoing 2,000-metres
programme, all located on the Pitombeiras North target. The Company
received positive assay results from an additional two drillholes,
which returned intercepts of 22.22 metres at 0.62% V(2) O(5) ,
12.07% TiO(2) and 58.97% Fe(2) O(3) , including 4.40 metres at
0.78% V(2) O(5) , 14.40% TiO(2) and 68.29% Fe(2) O(3) on drillhole
DD21PI43; 4.58 metres at 0.39% V(2) O(5) , 7.84% TiO(2) and 39.06%
Fe(2) O(3) on drillhole DD21PI42.
The drill results demonstrate the continuity of the VTM
mineralisation at the South-eastern portion of the Pitombeiras
North target, which remains open as such as the south-western and
north-north-eastern extensions beyond the resource area. An
additional three drillholes are planned to continually test the
lateral extensions of the Pitombeiras North deposit, before moving
to the Goela target.
In addition to the drilling programme, Jangada has been
advancing in a number of fronts of project development, including
the collection of volumetric samples, which have been sent for
metallurgical testworks, including dry and humid routes. Jangada is
also undertaking petrographic and mineralogical studies along with
a detailed topographic drone survey, which has been carried out to
support the mine planning and layout. An environmental baseline
study is on course to start early in April.
Table 1: Recent drill intersection
HOLE_ID E.O.H. FROM (m) TO (m) LENGTH ** GRADES***
* (m) (m)
V(2) TiO(2) Fe(2)
O5 (%) (%) O(3)
(%)
DD21PI42 48.00 7.00 12.75 5.75 0.26 5.23 29.45
------------- --------- ------- ---------- -------- ------- ------
16.65 21.23 4.58 0.39 7.84 39.06
-------------
25.31 38.36 13.05 0.25 6.18 30.52
-------------
DD21PI43 40.65 0.00 22.22 22.22 0.62 12.07 58.97
(including)
------------- --------- ------- ---------- -------- ------- ------
0.90 5.30 4.40 0.78 14.40 68.29
------------- --------- ------- ---------- -------- ------- ------
27.64 35.54 7.90 0.24 6.10 29.51
------------- --------- ------- ---------- -------- ------- ------
Notes:
(*) E.O.H means "End of hole"
(**) length do not represent the true widths
(***) V(2) O(5) , TiO(2) and Fe(2) O(3) grades are uncut
Click on, or paste the following link into your web browser, to
view the associated PDF document with pictures included:
http://www.rns-pdf.londonstockexchange.com/rns/6430U_1-2021-4-7.pdf
Quality Assurance & Quality Control
All drill core samples have been prepared and analysed by
SGS-Geosol Laboratórios Ltda ('SGS-Geosol') based in Belo
Horizonte, Brazil. SGS-Geosol is ISO14001:2004 and ISO 9001:2008
accredited and is independent of Jangada. The samples were analysed
by fusion with lithium tetraborate-XRF for Al(2) O(3) , CaO, Co,
Fe(2) O(3) , K(2) O, MgO, MnO, Na(2) O, P(2) O(5) , SiO(2) , TiO(2)
, V(2) O(5) and retained moisture (LOI) by multi-temperature.
QA/QC procedures include the submission by Jangada of systematic
duplicates, blanks and standard samples within every sample batch
submitted to the laboratory. In addition, SGS-Geosol inserts its
own standards, blanks, and duplicate samples. The results from
these control samples indicate acceptable consistency of
analysis.
Qualified Person Review
The technical information in this announcement has been reviewed
by Mr. Paulo Ilidio de Brito, who is a member of the Australian
Institute of Geoscientists (MAIG #5173) and a member of AusIMM -
The Australasian Institute of Mining and Metallurgy (MAusIMM
#223453). Mr. Brito is a professional senior geologist with +35
years of experience in the mining industry, which is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity which he has undertaken to qualify as a
Competent Person as defined in the 2012 edition of the JORC Code.
Mr. Brito also meets the requirements of a qualified person under
the AIM Note for Mining, Oil and Gas Companies. Mr. Brito has no
economic, financial or pecuniary interest in the Company, and he
consents to the inclusion in this document of the matters based on
his technical information in the form and context in which it
appears.
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) Georgia Langoulant
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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