Jangada Mines plc (‘Jangada’ or ‘the Company’), a natural resources company, is pleased to announce additional high-grade 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:
· Highest vanadium pentoxide (‘V2O5’) grade intercept received to date at 0.81%
· Both drilling results also represent the best results to date on a grade and width basis
· Results received include:
* 35.25 metres at 0.70% V2O5, 13.22% titanium dioxide (‘TiO2’) and 64.74% ferric oxide (‘Fe2O3’), including 7.00 metres at 0.81% V2O5, 15.29% TiO2 and 72.69% Fe2O3 on drillhole DD20PI19
* 38.00 metres at 0.64% V2O5, 12.51% TiO2 and 61.42% Fe2O3, including 14.00 metres at 0.75% V2O5, 14.46% TiO2 and 70.97% Fe2O3 on drillhole DD20PI20
Brian McMaster, Chairman of Jangada, said: “The Pitombeiras North resource drilling programme continues to reassure the consistency of the grades, widths and continuity within the 50m by 100m drilling grid whilst surprising us with these new highest grades intercepts, which increase the average grade of the programme to date to 0.535% V2O5 over an average of 31.34 metres in apparent thickness. There remain seven mineralised holes to be returned from the SGS-Geosol laboratory, six of them from the Goela target are expected in the coming weeks. We look forward to sharing these in due course and then determining an initial JORC resource estimate and continuing with a preliminary economic assessment.”
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