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Jangada Mines, a natural resource company, has recently released updates of their Pitombeiras Vanadium Project as interest heats around Vanadium presenting itself as a viable alternative to Lithium in the electric power revolution – particularly in the electric car and solar power industries.
According to the Vanadium Ore Global Report, the market for the chemical element is predicted to grow from $1.49bn in 2020 to $1.6bn in 2021. This places Jangada Mines at the forefront of the Vanadium Redox Flow Battery (VRFB) initiative which is set to revolutionise green technologies such as energy storage. The increased use of Vanadium in the electric car industry will be a game changer – making engines lighter and more fuel efficient – with up to 85% of all cars using Vanadium by 2025.
It’s not just the electric car industry that looks set to benefit from VRFB’s. The potential for clean energy production is huge, in the past we have been unable to efficiently store and deliver the energy derived from wind, water or solar farms. With the use of VRFB’s we would be able to store huge amounts energy and deliver it to the consumer as and when they need it most – at those peak times for demand. Vanadium is set to be a key ingredient in our fight against the rise in global carbon emissions, the batteries are not only stable but they can be discharged and recharged 20,000 times without much loss of performance and are thought to last for decades.
Jangada Mines (LON:JAN), was discussed in detail on last week’s UK Investor Magazine podcast, has announced additional drill results from its current 2,000 metre drill programme at its 100% owned Pitombeiras Vanadium Project located in Ceará State, Brazil.
The news “demonstrates the continuity of the vanadiferous titanomagnetite mineralisation (VTM) in several directions”, the company said.
The company has already conducted initial preliminary economic assessment reports which confirmed commercial viabilities of Jangada’s Pitombeiras project.
Today’s news from Jangada Mines marks another significant milestone in the company’s journey towards production which is expected to start in 2022.
Pitombeiras North
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.
Drilling programme at Goela target to start imminently
o 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 V2O5
Jangada Mines Share Price Up 68.8% YTD
The Jangada Mines share price has reacted by adding 2.22% on Tuesday following the results announcement. It is a continuation of what has been a strong performance so far in 2021, including a 52 week high in mid-February, with the company’s stock value up by 68.8% since the beginning of the year. From the 16 March 2020, the AIM-listed company’s share price is up by a massive 504%.
Brian McMaster, Executive Chairman of Jangada, commented on the results and gave his outlook for the future: “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.”
