TIDMJAN
RNS Number : 1879D
Jangada Mines PLC
19 June 2023
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
19 June 2023
Jangada Mines plc ('Jangada')
Correction - Investee Company Update: Blencowe Resources PLC
This is a correction of the Investee Company Update published at
9.23am on 19 June 2023 (RNS Number 1486D), which contained an error
in the percentage interest held by Jangada in Blencowe Resources
Plc. As a result, the percentage interest has been corrected to
12%, which was incorrectly stated at 9.5%.
All other details remain unchanged.
The full corrected announcement is set out below.
Jangada Mines plc is pleased to note the announcement released
by Blencowe Resources PLC (LON:BRES) in which it holds a c. 12%
interest. The announcement is set out below without material
changes.
Start of Blencowe Resources PLC announcement
Date: 19 June 2023
Blencowe Resources Plc
("Blencowe" or the "Company")
Further metallurgical test work confirms high quality of end
products from Orom-Cross
Highlights:
-- Blencowe successfully completes critical metallurgical test
work on a substantially increased scale of 150kgs by leading
Chinese graphite metallurgical test laboratory at Wuhan
University.
-- Previous metallurgical test work by both SGS in Canada and
IMO in Australia based on smaller sample sizes.
-- Results continue to highlight a high grade, low impurity concentrate.
-- Refinements to the processing methodology delivers;
o Increased percentage of higher value large and jumbo flakes
within the 97% concentrate (36% increases to 38%).
o Increased recoveries (90% increases to 93%).
-- Blencowe now has considerably more volume of end product
concentrate to send to potential offtake and strategic parties
ahead.
Blencowe Resources Plc ("Blencowe" or the "Company"), is pleased
to announce that additional metallurgical test work on its
Orom-Cross graphite project in Northern Uganda has been completed
by the leading Chinese graphite technical specialist laboratory,
based at Wuhan University. This is recognised as one of the most
experienced graphite facilities in the world and has been
conducting similar tests to improve graphite processing methodology
for over 30 years.
This test work is also critical to understanding the quality of
the end-product that Orom-Cross can deliver as a high-grade
graphite concentrate, as well as what the process flow will look
like to achieve this on a commercial scale. It also provides
significantly greater quantum of end product for end user testing,
which is critical within the Definitive Feasibility Study
("DFS").
Metallurgical Test Work Objectives
Blencowe appointed Wuhan University in partnership with Jilin
New Technology to undertake metallurgical test work on material
gathered from its drilling campaigns, which covered both the
Northern Syncline and Camp Lode areas within Orom-Cross.
The program was designed to deliver the following
objectives:
1. Confirm a 95-97% TGC (Total Graphite Content) pure
concentrate is achievable on the larger sample size with low
impurities (in particular thorium and vanadium) as previously
indicated.
2. Confirm +90% recovery is achievable for this concentrate.
3. Confirm the liberation process in order to maintain a
majority of Jumbo/XL/Large flakes within the concentrate.
4. Confirm the process flow diagram for the pilot plant design as part of the DFS.
5. Deliver bulk concentrate to allow Blencowe to initiate
discussions with potential off-take partners.
Metallurgical Test Work Results
Blencowe is pleased to announce that all 5 objectives have been
met or exceeded in this round of test work. Open cycle floatation
test produced recoveries between 92-94% (previously 90%) and
concentrate grades consistently range between 95-98% for all
graphite mesh sizes.
The additional metallurgical test work was commissioned to test
the required pilot plant configuration and all metallurgical
test-work undertaken to date shows a robust flowsheet capable of
repeatable metallurgy for a wide range of feed samples from
Orom-Cross.
The proposed flowsheet was employed in a continuous pilot
operation to determine the metallurgical response under typical
operating conditions. The final concentrate graded 96.0% C(t) at
93.2% total carbon recovery which exceeded the company's
expectations and places the end product recovered at the higher end
of the spectrum in comparison to its peers.
The pilot plant circuit optimisation undertaken to date has
lifted the large flake recovery by 3% and also lifted the fines
concentrate grade by some 2% TGC, whilst maintaining the grade in
other flake sizes. This is important in terms of further downstream
processing these fines to deliver a 99.9% SPG (spheronised,
purified graphite) battery-ready product. The resultant test work
was focused towards achieving the five key objectives as outlined
above, as well as being geared towards optimising the flake size
fractions and the finer mesh concentrate grade.
100t Bulk Update
These highly encouraging results will enable the Company to now
proceed with further improvements and optimisation to the plant
ahead of processing the previously announced 100t bulk sample,
which has already been extracted and exported from Uganda to China.
Blencowe will continue to refine the commercial plant design
throughout the DFS to optimise the pilot process and the end
product it will deliver.
Executive Chairman Cameron Pearce commented:
"We are delighted that to see that our graphite product
continues to deliver strong metallurgical results which is now
endorsed by the leading graphite processing team in China. These
results indicate that our concentrate is a highly marketable end
product and will translate to more interested strategic and offtake
parties being able to buy our product.
We will now progress with the much larger 100t bulk sample for
our DFS, which will underpin our project value. I cannot emphasise
enough that success within graphite projects is largely based on
metallurgy and we are consistently getting results that end users
of the product will find highly attractive when it comes to mining
Orom-Cross and selling the range of products from that
operation."
End of Blencowe Resources PLC announcement
**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 Ritchie Balmer Tel: +44 (0)20 7409 3494
(Nominated & Financial James Spinney
Adviser)
Tavira Securities Jonathan Evans Tel: +44 (0)20 7100 5100
Limited
(Broker)
St Brides Partners Ana Ribeiro jangada@stbridespartners.co.uk
Ltd Isabel de Salis
(Financial PR)
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END
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June 19, 2023 07:38 ET (11:38 GMT)
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