TIDMJAN
RNS Number : 3155X
Jangada Mines PLC
04 May 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/3155X_1-2021-5-3.pdf
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
4 May 2021
Jangada Mines plc ('Jangada' or 'the Company')
Additional Robust Drilling Results at Pitombeiras Vanadium
Project
Jangada Mines plc, a natural resources company, is pleased to
announce additional drill results from its current 2,000 metre
drill programme at its 100% owned Pitombeiras Vanadium Project
('Pitombeiras Project' or 'the Project') located in Ceará State,
Brazil, which demonstrate the continuity of the vanadiferous
titanomagnetite ("VTM") mineralisation in several directions.
Furthermore, it is pleased to provide an update on other project
development activities.
Highlights
-- VTM mineralisation at Pitombeiras North continues to be
opened on the south-eastern, south-western, and north-north-eastern
portions of the deposit for resources expansion.
-- Results recently received include:
o 21.29 metres at 0.58% vanadium pentoxide ('V(2) O(5) '),
11.09% titanium dioxide ('TiO(2) ') and 56.00% ferric oxide ('Fe(2)
O(3) '), including 8.02 metres at 0.70% V(2) O(5) , 13.33% TiO(2)
and 65.66% Fe(2) O(3)
o 22.75 metres at 0.52% V(2) O(5) , 10.31% TiO(2) and 51.66%
Fe(2) O(3,) including 7.00 metres at 0.62% V(2) O(5) , 12.27%
TiO(2) and 60.23% Fe(2) O(3)
-- 22 drill holes completed to date for a total of 1,466.45 linear metres
o 18 holes intersected VTM mineralisation, and 16 holes' results
have been received from laboratory - one was drilled for
metallurgical purposes.
-- Drilling programme at Goela target to start imminently.
-- Upgraded and expanded Mineral Resource Estimate ("MRE") and
revised Preliminary Economic Assessment ("PEA") scheduled for
completion in Q3 2021.
o Focus on evaluating a Direct Shipping Ore ('DSO') operation
for the export of a saleable magnetite concentrate containing a
minimum of 62% Fe and additional credit from 25% contained V(2)
O(5.)
Brian McMaster, Executive Chairman of Jangada, said: "We
continue to advance the Pitombeiras Vanadium Project on many
fronts, from resource expansion drilling to project development
activities. These include petrographic and mineralogical studies
and collection of volumetric samples to assist upcoming
metallurgical testworks, detailed topographic drone survey,
environmental baseline studies as part of the trial mining licence
process, and the initiation of discussions with the Port of Pecém
for export of our DSO product.
"As we successfully wrap up the drilling campaign at the
Pitombeiras North target, I am pleased to note that the deposit
continues to be opened in several directions, providing significant
future upside. While work to update the Mineral Resources Estimate
for the Pitombeiras North deposit starts, our team is mobilising
the drill rig to the Goela target; results from this campaign will
be incorporated in the new resources on conclusion.
"We are on track to deliver a more robust PEA, scheduled for
completion in Q3 2021, and look forward to updating our
stakeholders as we continue to progress with our plans."
Further Information:
A second diamond drilling ('DD') programme at the Pitombeiras
Vanadium Project commenced in October 2020, aimed at continuing to
evaluate the structural corridor associated with the known VTM
mineralisation, including the Pitombeiras North, Pitombeiras South
and Goela deposits. Currently, 22 drillholes have been completed to
date for a total of 1,466.45 linear-metres, or circa 73% of the
planned 2,000-metres programme, all located on the Pitombeiras
North target.
The Company received positive assay results from an additional
three drillholes, which returned intercepts of 2.50 metres at 0.25%
V(2) O(5) , 5.31% TiO(2) and 27.44% Fe(2) O(3) on drillhole
DD21PI45; 22.75 metres at 0.52% V(2) O(5) , 10.31% TiO(2) and
51.66% Fe(2) O(3) , including 7.00 metres at 0.62% V(2) O(5) ,
12.27% TiO(2) and 60.23% Fe(2) O(3) on drillhole DD21PI47 and;
21.29 metres at 0.58% V(2) O(5) , 11.09% TiO(2) and 56.00% Fe(2)
O(3) , including 8.02 metres at 0.70% V(2) O(5) , 13.33% TiO(2) and
65.66% Fe(2) O(3) on drillhole DD21PI48. Holes DD21PI44 and
DD21PI46 were not mineralised. Hole DD21PI49 was drilled as a twin
hole of DD20PI20 for metallurgical purposes.
The drill results demonstrate the continuity of the VTM
mineralisation at the north-north-eastern portions of the
Pitombeiras North target, which remains open as does the
south-western and south-eastern extensions beyond the resource
area. Two additional drillhole's result remain to be received from
the north section and another drill hole is currently being
drilled. This will conclude the drilling programme at the
Pitombeiras North deposit, after which work will commence at the
Goela target, where the Company is planning to drill 10 vertical
shallow holes, or about 500 metres on a 40 by 40 metres drill
grid.
The Company expects to complete the drilling programme at
Pitombeiras North imminently and receive all the geochemical
results by mid-May to immediately start an update on the MRE for
the Pitombeiras North deposit. Drilling at the Goela target should
be concluded in May and, as soon as laboratory results are
available, a new MRE for Goela will be carried out.
As part of project development activities, a detailed
topographic drone survey has been completed covering the main
deposits and their adjacent areas. This data will be used to
support the new MRE as well as the mine planning and layout.
In addition, the Company has collected volumetric samples from
surface outcrop and executed a twin drill hole in order to initiate
metallurgical testworks, which will be conducted in three
laboratories, including: 1) Fundação Gorceix (based in Ouro Preto,
MG-Brazil); 2) Metso Brasil Indústria e Comércio Ltda (based in
Sorocaba, SP-Brazil) and; 3) Motta de Lafões Geologia (based in
Belo Horizonte, MG-Brazil). Petrographic and mineralogical studies
have already been completed to support the metallurgical
testworks.
Finally, field work for the environmental baseline study was
successfully completed in early April and the Company has initiated
preliminary consultation with the Port of Pecém, which is the
free-trade zone port and closest option for Jangada's DSO product
export, located 352km from project site via federal paved
highway.
All such activities are meant to provide support for upgraded
and expanded MRE and revised PEA, scheduled for completion in Q3
2021, focused on evaluating a DSO operation for the export of a
saleable magnetite concentrate containing a minimum of 62% Fe and
additional credit from 25% contained V(2) O(5) .
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)
(%)
DD21PI45 50.10 0.00 2.50 2.50 0.25 5.31 27.44
--------- ------- ---------- -------- ------- ------
DD21PI47 90.05 52.60 75.35 22.75 0.52 10.31 51.66
(including)
--------- ------- ---------- -------- ------- ------
55.60 62.60 7.00 0.62 12.27 60.23
DD21PI48 100.60 65.24 86.53 21.29 0.58 11.09 56.00
(including)
------------- --------- ------- ---------- -------- ------- ------
70.48 78.50 8.02 0.70 13.33 65.66
------------- --------- ------- ---------- -------- ------- ------
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
Figure 1: Drill plan and actual V(2) O(5) intersections (all
drilled holes to date with assays received) -
Pitombeiras North deposit - See 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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