TIDMJAN
RNS Number : 7456T
Jangada Mines PLC
22 July 2020
To view the announcement with the illustrative maps and diagrams
please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/7456T_1-2020-7-22.pdf
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
22 July 2020
Jangada Mines plc
Final Drilling Results from Goela Targets
Jangada Mines plc ('Jangada' or 'the Company'), a natural
resources company, is pleased to announce final 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 five assay results received from the Goela Target, including:
o 27.75 metres at 0.65% vanadium pentoxide ('V(2) O(5) '),
12.95% titanium dioxide ('TiO(2) ') and 63.69% ferric oxide ('Fe(2)
O(3) '), including 9.50 metres at 0.77% V(2) O(5) , 15.19% TiO(2)
and 72.44% Fe(2) O(3) on drillhole DD20PI24
o 29.00 metres at 0.59% V(2) O(5) , 11.96% TiO(2) and 58.64%
Fe(2) O(3) , including 7.00 metres at 0.79% V(2) O(5) , 15.41%
TiO(2) and 73.26% Fe(2) O(3) on drillhole DD20PI26
Brian McMaster, Executive Chairman of Jangada, said: "The 2020
drilling campaign has been an overwhelming success, underpinning
the significant prospectivity of Pitombeiras as a result of the
consistency of returned grades, widths and continuity. The results
of these latest and final drill holes have further confirmed this
and also highlighted the effectiveness of our exploration approach
of utilising airborne magnetic surveys to delineate VTM drilling
targets. The Pitombeiras North and Goela targets are two out the
six identified airborne magnetic anomalies and our technical team
strongly believe that the VTM system will continue to grow as we
expand our drilling footprint, which is now being considered as
part of our ongoing development strategy. In the meantime, the 2020
drill results, together with results from our 2019 drill programme,
will be used to prepare an initial JORC Resource estimate, which we
look forward to sharing further details on in due course."
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. Of these, 16
from a total of 19 drillholes intersected VTM mineralisation.
Assay results have been received for all 16 DD holes, including
the remaining five holes from the Goela target, including:
-- Hole DD20PI24: 27.75 metres at 0.65% V(2) O(5) , 12.95%
TiO(2) and 63.69% Fe(2) O(3) , including 9.50 metres at 0.77% V(2)
O(5) , 15.19% TiO(2) and 72.44% Fe(2) O(3)
-- Hole DD20PI25: 7.27 metres at 0.55% V(2) O(5) , 10.79% TiO(2)
and 54.04% Fe(2) O(3) , including 2.28 metres at 0.73% V(2) O(5) ,
14.45% TiO(2) and 67.60% Fe(2) O(3)
-- Hole DD20PI26: 29.00 metres at 0.59% V(2) O(5) , 11.96%
TiO(2) and 58.64% Fe(2) O(3) , including 7.00 metres at 0.79% V(2)
O(5) , 15.41% TiO(2) and 73.26% Fe(2) O(3)
-- Hole DD20PI27: 6.85.00 metres at 0.40% V(2) O(5) , 13.77% TiO(2) and 66.13% Fe(2) O(3)
-- Hole DD20PI28: 1.93 metres at 0.59% V(2) O(5) , 11.79% TiO(2) and 59.32% Fe(2) O(3)
-- Hole DD20PI28: 3.12 metres at 0.43% V(2) O(5) , 9.30% TiO(2) and 44.63% Fe(2) O(3)
The Pitombeiras Project has returned in total 20 VTM mineralised
holes out of the 24 holes drilled in the 2019 and 2020 drilling
campaign, which has intersected weighted average grades and
apparent widths of 0.545% V(2) O(5,) 10.86% TiO(2) and 56.71% Fe(2)
O(3) over an average thickness of 25.16m, as set out in Table 1 and
Figure 1 (Pitombeiras North target) and Figure 2 (Goela
target).
The Pitombeiras North and Goela targets are two out of the six
prospective airborne magnetic anomalies identified with VTM's
signatures similar to Pitombeiras North target over a total area of
1,958 hectares.
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
------------- --------- ------- ----------- ------ ------- ----------
DD20PI24 40.00 0.00 27.75 27.75 0.65 12.95 63.69
------------- --------- ------- ----------- ------ ------- ----------
(including) 0.00 9.50 9.50 0.77 15.19 72.44
------------- --------- ------- ----------- ------ ------- ----------
DD20PI25 20.10 0.00 7.27 7.27 0.55 10.79 54.04
------------- --------- ------- ----------- ------ ------- ----------
(including) 3.86 6.14 2.28 0.73 14.45 67.60
------------- --------- ------- ----------- ------ ------- ----------
DD20PI26 40.00 0.00 29.00 29.00 0.59 11.96 58.64
------------- --------- ------- ----------- ------ ------- ----------
(including) 0.00 7.00 7.00 0.79 15.41 73.26
------------- --------- ------- ----------- ------ ------- ----------
DD20PI27 20.00 0.00 6.85 6.85 0.40 13.77 66.13
------------- --------- ------- ----------- ------ ------- ----------
DD20PI28 40.00 0.00 1.93 1.93 0.59 11.79 59.32
------------- --------- ------- ----------- ------ ------- ----------
4.13 7.25 3.12 0.43 9.30 44.63
------------- --------- ------- ----------- ------ ------- ----------
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 previously reported on NR dated July 7(th) , Holes
DD19PI24-25-26-27-28 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).
Figure 2: Plan view with drilling results from Goela target
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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Authority to act as a Primary Information Provider in the United
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of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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