TIDMJAN
RNS Number : 6624S
Jangada Mines PLC
10 July 2020
To view the announcement with the illustrative maps and diagrams
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/6624S_1-2020-7-10.pdf
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
10 July 2020
Jangada Mines plc
Additional Drilling Results from Pitombeiras North and Goela
Targets
Jangada Mines plc ('Jangada' or 'the Company'), a natural
resources company, is pleased to announce additional high-grade
drilling 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:
-- Final assay results received from the Pitombeiras North Target
o 25.25 metres at 0.56% vanadium pentoxide ('V(2) O(5) '),
10.81% titanium dioxide ('TiO(2) ') and 54.01% ferric oxide ('Fe(2)
O(3) '), including 7.00 metres at 0.73% V(2) O(5) , 14.14% TiO(2)
and 68.91% Fe(2) O(3) on drillhole DD20PI21
-- First drilling result received from the Goela Target
o 13.50 metres at 0.60% V(2) O(5) , 12.05% TiO(2) and 58.97%
Fe(2) O(3) , including 3.30 metres at 0.74% V(2) O(5) , 14.40%
TiO(2) and 64.53% Fe(2) O(3) on drillhole DD20PI22
Brian McMaster, Executive Chairman of Jangada, said: "We have
received the last drill results from the Pitombeiras North target,
which at 0.56% V(2) O(5) is above the 0.539% V(2) O(5) average
grade to date. This concludes a successful drilling campaign at
this target, which has confirmed consistent grades, widths and
continuity, marking a great achievement from our exploration team.
The first drill result from the Goela Target has also shown grade
consistency and we are now awaiting the last five remaining
results, which should be reported in the next couple of weeks. We
will then be able to begin calculating our initial JORC Resource
estimate and preparing the accompanying technical report."
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 11 DD holes, including the
newly received Hole DD20PI21, which intersected 25.25 metres at
0.56% V(2) O(5) , 10.81% TiO(2) and 54.01% Fe(2) O(3) , including
7.00 metres at 0.73% V(2) O(5) , 14.14% TiO(2) and 68.91% Fe(2)
O(3) ; this represented the final result due from the Pitombeiras
North target. Results have also been received for Hole DD20PI22,
the first result from the Goela Target, which intersected 13.50
metres at 0.60% V(2) O(5) , 12.05% TiO(2) and 58.97% Fe(2) O(3) ,
including 3.30 metres at 0.74% V(2) O(5) , 14.40% TiO(2) and 64.53%
Fe(2) O(3.)
Upon receipt of the assay results due for the remaining five
drillholes, all from the Goela Target, the Company will have
sufficient data (20 VTM mineralised holes from 2019 and 2020
drilling) to define a JORC compliant Mineral Resource estimate and
subsequent Preliminary Economic Assessment prepared by an
independent engineering company to be selected. Both of these
activities are to be funded from existing cash resources.
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 DD20PI21 and DD20PI22, the intersected
weighted average grades and apparent widths for all 15 mineralised
holes stands at 0.539% V(2) O(5,) 10.63% TiO(2) and 56.16% Fe(2)
O(3) over an average thickness of 29.85m, as set out in 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
------------- --------- ------- ----------- ------ ------- ----------
DD20PI21 56.70 15.00 40.25 25.25 0.56 10.81 54.01
------------- --------- ------- ----------- ------ ------- ----------
(including) 22.25 29.25 7.00 0.73 14.14 68.91
------------- --------- ------- ----------- ------ ------- ----------
DD20PI22 60.00 0.00 13.50 13.50 0.60 12.05 58.97
------------- --------- ------- ----------- ------ ------- ----------
(including) 10.20 13.50 3.30 0.74 14.40 64.53
------------- --------- ------- ----------- ------ ------- ----------
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 DD19P20
previously reported on NR dated June 15(th) , Holes DD19PI21
and DD19P22 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
Figure 1: Plan view with drilling results from Pitombeiras North
target (including 2019 and 2020 drill intersections).
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)
This information is provided by RNS, the news service of the
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contact rns@lseg.com or visit www.rns.com.
END
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