Jangada Mines PLC Completion of Hydrology Study (3379V)
08 April 2019 - 4:00PM
UK Regulatory
TIDMJAN
RNS Number : 3379V
Jangada Mines PLC
08 April 2019
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
8 April 2019
Jangada Mines plc ('Jangada' or the 'Company')
Completion of Hydrology Study as Bankable Feasibility Study
Nears Completion
Jangada Mines plc, a natural resources company developing the
Pedra Branca Project, South America's largest and most advanced
platinum group metals ('PGM') and nickel project, and the
Ptombeiras West Vanadium Project, is pleased to provide an update
on the bankable feasibility study ('BFS') currently underway at its
Pedra Branca project (the 'Project') in north-eastern Brazil.
Highlights
-- On track with completion of BFS to confirm the technical and
economic viability of the Project
-- Completed hydrology study - successfully demonstrated readily
accessible sources of water proximate to the Project at minimal
potential risk to operations
o Two major dams, situated within an 18-dam drainage basin,
identified as immediate sources of water for the operation
o Assessment shows a low-risk of water ingress into production
pits
-- Verification of the metallurgy, environmental, legal and
social components of the BFS near completion, following which, the
final mine design process can commence
Brian McMaster, Executive Chairman of Jangada said, "The BFS for
the Pedra Branca project, to further confirm its technical and
economic viability, is progressing on track and according to the
schedule previously outlined, with anticipated completion during Q2
2019. The hydrology study was an integral component of confirming
the technical viability of this exciting asset; the positive
findings bolster our confidence to continue to expedite development
at the Project. We look forward to updating shareholders with our
progress soon."
Further Information
The Company is in the process of completing a BFS at its 48,000
hectare Pedra Branca PGM-nickel project, which has a JORC (2012)
Compliant Resource of 2.2 million oz of PGM+Au, 298 Mlb of nickel,
50 Mlb of copper and 15 Mlb of cobalt. The Company is currently
focused on the initial verification phase of the two-part study,
which, on completion, will enable the Company to move towards the
mine design process - see summary below:
Component Expected Completion Date
Preliminary Flow Sheet Completed
-------------------------
Nickel Resource Estimation Completed
-------------------------
PGM Resource Review Completed
-------------------------
Hydrology Study Completed
-------------------------
Legal, Environmental and Social Nearing completion
Factors
-------------------------
Metallurgy Test Work Verification Nearing completion
-------------------------
Jangada has now completed the hydrology study component of the
BFS, which focused on the water sources for the operation and
evaluated potential ground and surface sources. The Project is
located within the Banabuiu drainage basin, hosting 18 registered
dams. Two major dams are located within a 32km radius of the
Project centre and have been identified as potential water sources
for the operation and a third large capacity dam is located further
afield from the Project. Additionally, groundwater is sufficient to
meet ancillary and administrative needs for the Project.
Furthermore, groundwater flows within the confines of the
production pits are anticipated to be very low and pose very low
risk to the safety and operational integrity of the Project. The
final water requirement for the Project will be based on the
finalisation of the plant design, which will inform the Company's
water acquisition strategy.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
* 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 Gaby Jenner 1177
(Financial PR)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
UPDBSGDSIXGBGCU
(END) Dow Jones Newswires
April 08, 2019 02:00 ET (06:00 GMT)
Jangada Mines (LSE:JAN)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jangada Mines (LSE:JAN)
Historical Stock Chart
From Jul 2023 to Jul 2024