TIDMJAN

RNS Number : 2977D

Jangada Mines PLC

28 June 2021

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

28 June 2021

Jangada Mines plc

Jangada Is Granted Trial Mining License

Jangada Mines plc ("Jangada" or "the Company"), a natural resources company, is pleased to announce the Brazilian National Mining Agency (ANM - Agência Nacional de Mineração) has granted a trial mining license ("Guia de Utilização", or "GU") for its 100%-owned Pitombeiras Project ("Pitombeiras" or "the Project"), Ceará State, Brazil. The GU allows for the extraction of up to 300,000 tonnes of Ferrovanadium ('FeV') bearing material per year from Jangada's exploration licenses with the purpose of continuing to evaluate the technical aspects and economic benefits of the Project.

Brian McMaster, Executive Chairman of Jangada, said : "We are very pleased with the timely grant of the Pitombeiras Project GU within three months from submitting the application; another significant development milestone has been achieved. This outcome is a result of our solid development strategy and communication with local authorities about the quality of our project and the benefits to the local community and regional development. As we advance towards mineral resources expansion and updated Preliminary Economic Assessment ("PEA"), the granted GU provides a fundamental section to our fast-track implementation path."

Further Information

On March 19(th) , 2021, the Company announced that Jangada Mines' Executive Director, Luís Azevedo, and VP Project Manager, Jose Luís Martins, met in Fortaleza, Ceará with the local ANM Manager, Mr. Ricardo Bezerra, and submitted Jangada's application for the trial mining license, also known as Guia de Utilização, or GU. On June 25(th) , 2021, the GU was granted, allowing Jangada to mine up to 300,000 tonnes of FeV bearing material per year from its exploration licenses.

As previously reported, the objective of the trial mining license is to initiate the extraction of FeV from the Project, through an open pit mine operation. At this stage of development, the Pitombeiras PEA has focused on evaluating a Direct Shipping Ore ("DSO") operation for the sale of a saleable magnetite concentrate containing a minimum of 62% Fe and additional credit from 25% contained V(2) O(5) .

A pilot operation under the trial mining license can be developed with a starter open pit operation utilising a contract mining fleet of hydraulic excavators, front-end loaders, 30 tonnes haul trucks, rotary drill rigs and ancillary equipment. The selected beneficiation process route is composed by crushing and screening, and dry magnetic concentration.

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)                  Georgia Langoulant 
 
 Brandon Hill Capital      Jonathan Evans              Tel: +44 (0)20 3463 
  (Broker)                  Oliver Stansfield           5000 
 
 St Brides Partners        Isabel de Salis             E: info@stbridespartners.co.uk 
  Ltd                       Charlie Hollinshead 
  (Financial PR)

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

MSCGLGDLLUDDGBI

(END) Dow Jones Newswires

June 28, 2021 02:58 ET (06:58 GMT)

Jangada Mines (LSE:JAN)
Historical Stock Chart
From Apr 2024 to May 2024 Click Here for more Jangada Mines Charts.
Jangada Mines (LSE:JAN)
Historical Stock Chart
From May 2023 to May 2024 Click Here for more Jangada Mines Charts.