TIDMJAN
RNS Number : 0084R
Jangada Mines PLC
03 March 2021
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
3 March 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 2 March 2021 by TSX-V listed
ValOre Metals Corp. ('ValOre'), in which Jangada holds a 12.1 per
cent interest.
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-expands-rhodium-assay-program-at-pedra-branca-based-on-encouraging-results
ValOre Expands Rhodium Assay Program at Pedra Branca Based on
Encouraging Results
60% of samples anomalous in follow-up program, with a high value
of 0.25 g/t Rh
Vancouver, B.C. ValOre Metals Corp. ("ValOre"; TSX--V: VO; OTC:
KVLQF; Frankfurt: KEQ0, "the Company") today announced rhodium
("Rh") assay results of a follow-up investigation of the Rh values
in historical drill core samples ("samples" being "pulps,
pulverized rejects and coarse rejects of historical core") from
ValOre's 100%-owned Pedra Branca Platinum Group Element ("PGE")
Project in northeastern Brazil.
"The first three phases of resampling for rhodium assay at Pedra
Branca have been highly encouraging," stated ValOre's Chairman and
CEO, Jim Paterson. "ValOre's team has commenced an expanded program
to include all historic samples grading over 1 g/t 2PGE+Au from the
Esbarro, Curiu, Cedro, Trapia and Santo Amaro NI 43-101 deposits,
including all 2020 drilling, and pre-resource targets C-04 and Cana
Brava."
Rhodium Assay Program Highlights:
-- ValOre has conducted three phases of Rh assay programs to date, totaling 283 samples;
-- 59% (166) of the samples assayed to date have returned
anomalous Rh, with a high of 1.44 g/t Rh and an average of 0.12 g/t
Rh in the 166 samples with detectable Rh;
-- Phase 3 assayed 212 samples; 111 from the Esbarro and 101 from the Curiu PGE deposits;
-- Anomalous Rh assay values occur in 60% (127) of the samples,
with a high of 0.25 grams per tonne ("g/t") Rh and an average of
0.07 g/t Rh in the 127 samples with detectable Rh;
-- A positive correlation between 2PGE+Au (palladium + platinum
+ gold) grade and Rh grade is observed;
-- Rh mineralization established to date is shallow in nature,
with the average Rh-bearing sample starting at 27 metres ("m")
drill hole depth.
ValOre received follow-up Rh assay results for 212 samples
(pulps, pulverized rejects and coarse rejects of historical drill
core) from the Esbarro and Curiu PGE deposits, selected on the
basis of historical 2PGE+Au assays grading over 2.0 g/t. This third
phase of Rh assaying was initiated based on the strong Rh assay
results from the two previous Rh programs conducted by ValOre in
2020 (see news releases dated March 12 and November 19, 2020).
A positive correlation between 2PGE+Au grade and Rh grade is
observed, with 89% of samples with 2PGE+Au grades of >=5.00 g/t
producing anomalous Rh; however, Phase 3 demonstrated that strong
Rh mineralization is present throughout the 2PGE grade profile
sampled to date, with two of the three highest Phase 3 Rh values
(0.25 and 0.23 g/t Rh) coming from two of the lower 2PGE+Au grade
samples (2.22 and 2.21 g/t 2PGE+Au).
A Phase 4 Rh assay program has commenced and will comprise all
samples grading over 1 g/t 2PGE+Au from the Esbarro, Curiu, Cedro
Trapia and Santo Amaro NI 43-101 deposits, including all 2020
drilling, as well as pre-resource targets C-04 and Cana Brava.
Rh mineralization established to date is situated near-surface,
much like Pedra Branca's 2PGE+Au mineralization, with an average
Rh-bearing sample interval depth starting at 27 m. To date, the
Esbarro and Curiu PGE deposits have exhibited the most significant
Rh potential, with 75% and 66% of samples returning anomalous Rh
values, respectively. See Table 1 below for a summary of Rh assays
on a deposit basis and please see the ValOre announcement for Table
2 which has the complete dataset of anomalous Rh samples to
date.
The Esbarro deposit hosts a resource of 9.9 Mt at a grade of
1.23 g/t 2PGE+Au totaling 394,000 ounces, and the Curiu deposit
hosts a resource of 1.6 Mt with a grade of 1.93 g/t 2PGE+Au
totaling 100,000 ounces (please see the ValOre announcement for a
summary table of ValOre's 2019 NI 43-101 Pedra Branca resource
estimate).
Table 1: Summary of Rhodium Assays on a Deposit Basis, Pedra
Branca
NI 43-101 Deposit Samples Assayed for Rh Samples with Anomalous Rh % Average Rh Grade (g/t)
Esbarro 166 124 75 0.12
Curiu 127 84 66 0.09
Cedro 12 6 50 0.38
Trapia 11 4 36 .0.12
Santo Amaro 9 0 0 0
About Rhodium
Rhodium is the rarest of the platinum group elements, only
occurring up to one part per 200 million in the Earth's crust. The
main use for rhodium is in catalytic converters designed to clean
vehicle emissions. Due to its brilliance and resistance to
oxidation, it is also used as a finish for jewelry, LCD monitors,
and mirrors. In the chemical industry it is used in the production
of nitric acid, acetic acid and hydrogenation reactions. Rhodium is
found in platinum and nickel ores together with the other PGEs.
South Africa is the world's largest producer of rhodium (80%),
followed by Russia (10%), Zimbabwe (5%), Canada (2%) and the U.S.A.
(2%). The global average resource/reserve grade is 0.281 g/t Rh,
with the lowest reported resource/reserve grade of 0.010 g/t Rh
(Canadian project) and the highest reported resource/reserve grade
of 0.381 g/t Rh (South African project) (source: S&P
Global).
Quality Control/Quality Assurance (QA/QC)
Historical Pedra Branca drill core samples were collected from
ValOre's secured core logging and storage facility located in
Capitão Mór, Ceará, Brazil. A minimum sample weight of 50 g ensured
an adequate sample for assay. Selected pulp samples were sent with
an ensured chain of custody to SGS Geosol, Vespasiano, Minas
Gerais, Brazil for analysis, which is an accredited mineral
analysis laboratory. All samples were analyzed for Rh content using
standard 50 g Fire Assay Atomic Absorption ICP-MS. Certified PGE
ore reference standards, blanks and field duplicates were inserted
as a part of ValOre's quality control/quality assurance program. 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 38 exploration licenses
covering a total area of 38,940 hectares (96,223 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% U(3) O(8) ,
totaling 43.3 million pounds U(3) O(8) . 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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