TIDMJAN
RNS Number : 8407P
Jangada Mines PLC
15 June 2020
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
15 June 2020
Jangada Mines plc ('Jangada' or the 'Company')
Additional High-Grade Drilling Results from Pitombeiras North
Target
Jangada Mines plc ('Jangada' or 'the Company'), a natural
resources company, is pleased to announce additional high-grade
assay results from its diamond drilling ('DD') programme at its
Pitombeiras Vanadium Project ('Pitombeiras' or 'the Project') in
Brazil. The programme has evaluated the structural corridor
associated with the known vanadium titanomagnetite ('VTM')
mineralisation, which includes the Pitombeiras North and
Pitombeiras South anomalies and the newly discovered Goela VTM
targets.
Highlights:
-- Highest vanadium pentoxide ('V(2) O(5) ') grade intercept received to date at 0.81%
-- Both drilling results also represent the best results to date on a grade and width basis
-- Results received include:
o 35.25 metres at 0.70% V(2) O(5) , 13.22% titanium dioxide
('TiO(2) ') and 64.74% ferric oxide ('Fe(2) O(3) '), including 7.00
metres at 0.81% V(2) O(5) , 15.29% TiO(2) and 72.69% Fe(2) O(3) on
drillhole DD20PI19
o 38.00 metres at 0.64% V(2) O(5) , 12.51% TiO(2) and 61.42%
Fe(2) O(3) , including 14.00 metres at 0.75% V(2) O(5) , 14.46%
TiO(2) and 70.97% Fe(2) O(3) on drillhole DD20PI20
Brian McMaster, Chairman of Jangada, said: "The Pitombeiras
North resource drilling programme continues to reassure the
consistency of the grades, widths and continuity within the 50m by
100m drilling grid whilst surprising us with these new highest
grades intercepts, which increase the average grade of the
programme to date to 0.535% V(2) O(5) over an average of 31.34
metres in apparent thickness. There remain seven mineralised holes
to be returned from the SGS-Geosol laboratory, six of them from the
Goela target are expected in the coming weeks. We look forward to
sharing these in due course and then determining an initial JORC
resource estimate and continuing with a preliminary economic
assessment."
Further Information:
A total of 19 DD holes have been completed in 2020 for a total
of 1.360.80 metres, including 1,058.85 metres at the Pitombeiras
North target and 301.95 metres at the Goela target. 16 from a total
of 19 drillholes intersected VTM mineralisation.
Assay results have been received for 9 (nine) DD holes,
including newly received Hole DD20PI19, which intersected 35.25
metres at 0.70% V(2) O(5) , 13.22% TiO(2) and 64.74% Fe(2) O(3) ,
including 7.00 metres at 0.81% V(2) O(5) , 15.29% TiO(2) and 72.69%
Fe(2) O(3) , and Hole DD20PI20, which intersected 38.00 metres at
0.64% V(2) O(5) , 12.51% TiO(2) and 61.42% Fe(2) O(3) , including
14.00 metres at 0.75% V(2) O(5) , 14.46% TiO(2) and 70.97% Fe(2)
O(3) .
Upon receipt of assay results for the remaining seven
drillholes, six of them from the Goela Target, the Company will
have sufficient data (20 VTM mineralised holes, including 2019 and
2020 drilling) to determine initial mineral resources and continue
with a preliminary economic assessment ('PEA') and JORC resource
estimate. These activities are to be funded from existing cash
resources. Currently, the Company has 182 drill samples (including
QA/QC samples) under analysis on the SGS-Geosol laboratory.
The concluded 2020 drilling programme is a follow-on from the
five drill holes campaign executed in 2019. With the addition of
the recently received Holes DD20PI19 and DD20PI20, the intersected
weighted average grades and apparent widths for all 13 mineralised
holes stands at 0.535% V(2) O(5,) 10.58% TiO(2) and 56.19% Fe(2)
O(3) as set out on Table 1 and Figure 1.
Table 1:
HOLE_ID E.O.H. FROM (m) TO (m) APPARENT GRADES****
** (m) WIDTH (m)
***
V(2) TiO(2) Fe(2)
O(5) (%) O(3) (%)
(%)
------ ------- ----------
DD19PI07
* 100.20 0.00 28.00 28.00 0.45 9.49 47.29
------------- --------- ------- ----------- ------ ------- ----------
DD19PI08
* 59.80 0.00 41.05 41.05 0.41 7.94 40.48
------------- --------- ------- ----------- ------ ------- ----------
DD19PI09
* 54.00 0.00 31.90 31.90 0.58 11.74 57.41
------------- --------- ------- ----------- ------ ------- ----------
DD19PI10
* 60.25 0.00 31.50 31.50 0.51 10.3 51.01
------------- --------- ------- ----------- ------ ------- ----------
DD20PI11
* 120.00 6.00 38.18 32.18 0.55 10.79 53.22
------------- --------- ------- ----------- ------ ------- ----------
(including) 11.60 24.85 13.25 0.74 14.63 70.01
------------- --------- ------- ----------- ------ ------- ----------
DD20PI12
* 120.00 0.00 38.00 38.00 0.56 11.31 54.90
------------- --------- ------- ----------- ------ ------- ----------
DD20PI13
* 120.00 0.00 5.35 5.35 0.70 12.96 65.42
------------- --------- ------- ----------- ------ ------- ----------
21.95 53.52 31.57 0.45 8.66 44.88
------------- --------- ------- ----------- ------ ------- ----------
(including) 21.95 38.00 16.05 0.56 10.31 53.22
------------- --------- ------- ----------- ------ ------- ----------
DD20PI14
* 120.00 6.04 8.25 2.21 0.67 12.85 60.72
------------- --------- ------- ----------- ------ ------- ----------
DD20PI14
* 23.50 41.50 18.00 0.49 10.02 49.61
------------- --------- ------- ----------- ------ ------- ----------
DD20PI16
* 120.00 1.00 36.66 35.66 0.56 11.04 54.39
------------- --------- ------- ----------- ------ ------- ----------
DD20PI17 120.00 0.00 29.64 29.64 0.53 10.66 53.02
------------- --------- ------- ----------- ------ ------- ----------
(including) 1.00 4.00 3.00 0.71 13.97 65.80
------------- --------- ------- ----------- ------ ------- ----------
DD20PI18 50.50 0.00 45.83 45.83 0.50 9.64 48.64
------------- --------- ------- ----------- ------ ------- ----------
(including
1) 0.00 24.50 24.50 0.57 10.44 53.32
------------- --------- ------- ----------- ------ ------- ----------
(including
2) 11.50 16.71 5.21 0.75 14.71 68.76
------------- --------- ------- ----------- ------ ------- ----------
47.30 49.40 2.10 0.41 7.43 39.05
------------- --------- ------- ----------- ------ ------- ----------
DD20PI19 45.75 3.00 38.25 35.25 0.70 13.22 64.74
------------- --------- ------- ----------- ------ ------- ----------
(including) 22.00 29.00 7.00 0.81 15.29 72.69
------------- --------- ------- ----------- ------ ------- ----------
DD20PI20 65.90 12.00 50.00 38.00 0.64 12.51 61.42
------------- --------- ------- ----------- ------ ------- ----------
(including) 25.00 39.00 14.00 0.75 14.46 70.97
------------- --------- ------- ----------- ------ ------- ----------
Notes:
(*) Holes DD19PI07-10 previously reported on NR dated March 11(th)
, 2029; Holes DD19PI11-12 previously reported on NR dated February
26(th) , 2020; Hole DD19PI13 previously reported on NR dated
March 27(th) , 2020, Holes DD19PI14 and DD19PI16 previously reported
on NR dated April 22(nd) , Holes DD19PI17 and DD19PI18 previously
reported on NR dated May 18(th) , Holes DD19PI19 and DD19P208
newly reported
(**) E.O.H means "End of hole"
(***) intervals do not represent the true widths
(****) V(2) O(5) , TiO(2) and Fe(2) O(3) grades are uncut and
rounded to two decimal places
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/8407P_1-2020-6-12.pdf
Quality Assurance & Quality Control
All drill 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) , K2O,
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 SGS. 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) Jack Botros
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Charlotte Page Tel: +44 (0)20 7236
Ltd Beth Melluish 1177
(Financial PR)
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contact rns@lseg.com or visit www.rns.com.
END
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