TIDMJAN
RNS Number : 2307Q
Jangada Mines PLC
24 February 2021
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
24 February 2021
Jangada Mines plc ('Jangada' or the 'Company')
ValOre Announcement
Jangada Mines plc, a natural resources company, is pleased to
note the announcement released on 24 February 2021 by TSX-V listed
ValOre Metals Corp. ('ValOre').
The announcement has been reproduced exactly as reported below,
other than for the inclusion of links, and can be viewed in full on
ValOre's website using the following link:
http://valoremetals.com/news-media/news-releases/2021/valore-establishes-new-drill-targets-with-high-grade-pge-surface-sampling-at-pedra-branca
ValOre Establishes New Drill Targets with High-Grade PGE Surface
Sampling at Pedra Branca
19.1 g/t 2PGE+Au and 10.2 g/t 2PGE+Au rock samples collected
outside Santo Amaro resource area and new PGE-in-soils trends
identified
Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX--V: VO; OTC:
KVLQF; Frankfurt: KEQ0, "the Company") today announced assay
results for 562 soil and 56 rock samples collected from the Santo
Amaro target area at ValOre's 100%-owned Pedra Branca Platinum
Group Elements ("PGE") Project in northeastern Brazil.
"The Santo Amaro region has moved up our exploration priority
list as impressive PGE results were generated through rock and soil
sampling, geological mapping, and 2020 diamond core drilling,"
stated ValOre's Chairman and CEO, Jim Paterson. "ValOre's team
continues to unlock more value at Santo Amaro with targeted
Trado(R) auger drilling and trenching programs prior to the return
of the drill rigs this season."
Santo Amaro PGE Assay Highlights:
-- Multiple high-grade PGE assay results from rock samples
collected outside current Santo Amaro NI 43-101 inferred resource
area, including:
o 19.1 grams per tonne palladium + platinum + gold ("g/t
2PGE+Au"), sampled 190 metres ("m") northwest of Santo Amaro
resource
o 10.2 g/t 2PGE+Au, sampled 290 m northwest of Santo Amaro
resource
o 7.10 g/t 2PGE+Au, sampled 50 m northwest of Santo Amaro
resource
o 2.12 g/t 2PGE+Au, sampled 400 m northwest of Santo Amaro
resource
o 2.10 g/t 2PGE+Au, sampled 425 m northwest of Santo Amaro
resource
o 1.76 g/t 2PGE+Au, sampled 360 m southeast of Santo Amaro
resource
o 1.16 g/t 2PGE+Au, sampled 800 m north of Santo Amaro
resource;
-- Multiple new, undrilled anomalies established outside of NI 43-101-defined resource area:
o North-south trending PGE-in-soils anomalies (500 and 600 m
trends)
o Northwest trend of high to medium grade PGE rock samples (450
m trend);
-- PGE anomalies remain open to the north and south of current surface sampling coverage;
-- A north-south trending PGE-in-soils anomaly may connect Santo
Amaro resource to the Santo Amaro South target, situated 1.5
kilometres ("km") to the south;
-- High-priority follow-up Trado(R) auger drilling and trenching
program has commenced to further define these multiple PGE
anomalies.
Santo Amaro 2021 Soil and Rock Sampling Program
Assay results for 562 soil and 56 rock samples have been
received for the Santo Amaro target area and significant
PGE-in-soil anomalies have been identified. Geochemical enrichment
of PGEs in soils has defined multiple new undrilled areas of
north-south trending PGE anomalies extending to the east (250 m)
and west (370 m) of the current Santo Amaro NI 43-101 resource
area. These anomalies remain open from the northern and southern
limits of sampling and are coincident with prospective near-surface
3D magnetic inversion targets.
Additionally, potential continuity exists between the
southernmost soil anomaly at Santo Amaro and the largely unexplored
Santo Amaro South target, situated 1.5 km to the south. This
suggests the presence of a contiguous >=2.5 km long ultramafic
("UM") belt which may be associated with the Santo Amaro resource
that has only been drill tested over 600 m of this total
prospective geological trend.
High-grade PGE assays were returned for selected rock grab
samples collected from prospective zones outside of the existing
resource area, including a 19.1 g/t 2PGE+Au rock sample 190 m
northwest of the resource, and a 10.2 g/t 2PGE+Au sample 290 m
northwest of resource. A 7.51 g/t 2PGE+Au sample was also collected
near the collar location of 2020 drill hole DD20SA24. Three
additional rock samples situated 400 to 450 northwest of the
resource returned 2PGE+Au grades of 2.12 g/t, 2.10 g/t and 1.45
g/t, and an additional sample located 800 m north of the resource
returned a grade of 1.16 g/t 2PGE+Au. To the southeast of the
resource, a 1.78 g/t 2PGE+Au sample was returned from a newly
discovered tremolite (+chromitite) schist outcrop (360 m to the
southeast of the easternmost historical resource drill hole). See
Table 1 below for a summary of rock sample PGE assays, and please
see the ValOre announcement for a link to for Figure 1, showing a
location map for soil and rock assay results reported herein.
Table 1: Santo Amaro Rock Assay Highlights
Sample ID Lithology Easting Northing 2PGE+Au (g/t)
100527 Chromitite 409016 9407775 19.10
100587 Chromitite 408925 9407831 10.18
100524 Serpentinized Ultramafic 409149 9407651 7.51
102340 Peridotite 408858 9407906 2.12
102341 Peridotite 408826 9407916 2.10
100585 Serpentinized Ultramafic 409592 9407287 1.78
100588 Serpentinized Ultramafic 408925 9407831 1.58
102342 Peridotite 408812 9407934 1.45
102330 Peridotite 409327 9408308 1.16
100591 Peridotite 409082 9407819 0.92
100593 Peridotite 409129 9407810 0.78
100586 Peridotite 409079 9407629 0.57
100594 Peridotite 409223 9407785 0.34
Santo Amaro Target Area and the 2019 NI 43-101 Resource
Santo Amaro is one of five defined PGE deposits at Pedra Branca
that together host an inferred resource totaling 1,067,000 ounces
("oz") of 2PGE+Au contained in 27.2 million tonnes ("Mt") grading
1.22 g/t 2PGE+Au; CLICK HERE for the Pedra Branca NI 43-101
Technical Report. At Pedra Branca, PGE mineralization for all five
of the inferred resource deposit areas outcrops at surface, giving
these a reasonable expectation of eventual economic extraction by
open pit mining methods. CLICK HERE for Figure 2A and 2B, showing
the location of the five Pedra Branca PGE resource areas and a
detailed view of the Santo Amaro target area.
The 2019 Santo Amaro inferred resource estimate totals 203,000
oz 2PGE+Au contained in 5.3 Mt grading 1.19 g/t 2PGE+Au and
represents the most underexplored deposit target area at Pedra
Branca. Extensive historical PGE-in-soils anomalies, magnetic
targets, and newly mapped, untested UM rock belts make Santo Amaro
a compelling target area for resource expansion and new PGE
discoveries. Geological mapping preceding the 2020 drill program
identified several prospective UM belts which extend well beyond
the area hosting the defined resource. A follow-up mapping, soil
sampling, rock sampling, and prospecting program is on-going.
2020 Drilling, Santo Amaro Target
In 2020, a total of 1,366 metres were drilled in twelve core
holes at Santo Amaro. PGE mineralization in the UM intrusion that
hosts the Santo Amaro resource was extended along strike to the
east and west as shown by at-surface and near-surface PGE drill
intercepts. Mineralization remains open in both directions. In
addition, a newly identified, shallow PGE-enriched zone was drilled
approximately 250 m north-northwest of the Santo Amaro resource
area (see ValOre's news release dated January 15, 2021).
Quality Control/Quality Assurance ("QA/QC")
Soil samples were collected from field sites spaced 20 metres
apart on lines spaced 100 metres apart, with coordinate data
captured by handheld GPS. These samples were subsequently stored in
a secure ValOre facility in Capitão Mor, Ceará, Brazil and
thereafter sent with an ensured chain of custody to SGS Geosol
Vespasiano, an accredited mineral analysis laboratory in Minas
Gerais, for geochemical analyses. All samples are analyzed for
PGE+Au (Pd, Pt, Au) content using standard 50g Fire Assay and
ICP-AES techniques. Certified PGE ore reference standards, blanks
and field duplicates are inserted as a part of the QA/QC
program.
Selected rock grab samples are collected from field sites with
coordinate data captured by handheld GPS and subsequently stored in
a secure ValOre facility in Capitão Mór, Ceará, Brazil. The samples
were then sent with an ensured chain of custody to SGS Geosol
Vespasiano, Minas Gerais for fire assay analysis. All samples were
analyzed for PGE+Gold (Pd, Pt, Au) content using standard Fire
Assay and ICP techniques. Cr values that exceed 5% are redirected
to ore grade pyrosulfate fusion and XRF techniques to determine %
Cr2O3. Certified PGE ore reference standards, blanks and field
duplicates are inserted as a part of the QA/QC. No QA/QC issues
were noted with the results reported herein.
Qualified Person (QP)
The technical information in this news release has been prepared
in accordance with Canadian regulatory requirements set out in NI
43-101 and reviewed and approved by Colin Smith, P.Geo., ValOre's
QP, who oversees New Project Review for ValOre.
About ValOre Metals Corp.
ValOre Metals Corp. (TSX--V: VO) is a Canadian company with a
portfolio of high--quality exploration projects. ValOre's team aims
to deploy capital and knowledge on projects which benefit from
substantial prior investment by previous owners, existence of
high-value mineralization on a large scale, and the possibility of
adding tangible value through exploration, process improvement, and
innovation.
In May 2019, ValOre announced the acquisition of the Pedra
Branca Platinum Group Elements (PGE) property, in Brazil, to
bolster its existing Angilak uranium, Genesis/Hatchet uranium and
Baffin gold projects in Canada.
The Pedra Branca PGE Project comprises 39 exploration licenses
covering a total area of 39,987 hectares (98,810 acres) in
northeastern Brazil. At Pedra Branca, 5 distinct PGE+Au deposit
areas host, in aggregate, a current Inferred Resource of 1,067,000
ounces 2PGE+Au contained in 27.2 million tonnes grading 1.22 g/t
2PGE+Au (see ValOre's July 23, 2019 news release). All the
currently known Pedra Branca inferred PGE resources are potentially
open pittable.
Comprehensive exploration programs have demonstrated the
"District Scale" potential of ValOre's Angilak Property in Nunavut
Territory, Canada that hosts the Lac 50 Trend having a current
Inferred Resource of 2,831,000 tonnes grading 0.69% U3O8, totaling
43.3 million pounds U3O8. For disclosure related to the inferred
resource for the Lac 50 Trend uranium deposits, please refer to
ValOre's news release of March 1, 2013.
ValOre's team has forged strong relationships with sophisticated
resource sector investors and partner Nunavut Tunngavik Inc. (NTI)
on both the Angilak and Baffin Gold Properties. ValOre was the
first company to sign a comprehensive agreement to explore for
uranium on Inuit Owned Lands in Nunavut Territory and is committed
to building shareholder value while adhering to high levels of
environmental and safety standards and proactive local community
engagement.
On behalf of the Board of Directors,
"Jim Paterson"
James R. Paterson, Chairman and CEO
ValOre Metals Corp.
For further information about, ValOre Metals Corp. or this news
release, please visit our website at valoremetals.com or contact
Investor Relations at 604.653.9464, or by email at
contact@valoremetals.com .
ValOre Metals Corp. is a proud member of Discovery Group. For
more information please visit: discoverygroup.ca
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
This news release contains "forward-looking statements" within
the meaning of applicable securities laws. Although ValOre believes
that the expectations reflected in its forward-looking statements
are reasonable, such statements have been based on factors and
assumptions concerning future events that may prove to be
inaccurate. These factors and assumptions are based upon currently
available information to ValOre. Such statements are subject to
known and unknown risks, uncertainties and other factors that could
influence actual results or events and cause actual results or
events to differ materially from those stated, anticipated or
implied in the forward-looking statements. A number of important
factors including those set forth in other public filings could
cause actual outcomes and results to differ materially from those
expressed in these forward-looking statements. Factors that could
cause the actual results to differ materially from those in
forward-looking statements include the future operations of ValOre
and economic factors. Readers are cautioned to not place undue
reliance on forward-looking statements. The statements in this
press release are made as of the date of this release and, except
as required by applicable law, ValOre does not undertake any
obligation to publicly update or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise. ValOre undertakes no obligation to
comment on analyses, expectations or statements made by third
parties in respect of ValOre, or its financial or operating results
or (as applicable), their securities.
ValOre Metals Corp.
Suite 1020
800 West Pender St
Vancouver, BC | V6C 2V6
contact@valoremetals.com
valoremetals.com
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 Isabel de Salis Tel: +44 (0)20 7236
Ltd Beth Melluish 1177
(Financial PR)
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