Jangada Mines PLC 2,500m Drilling Programme Started at Pitombeiras (4339A)
21 Gennaio 2020 - 9:22AM
UK Regulatory
TIDMJAN
RNS Number : 4339A
Jangada Mines PLC
21 January 2020
To view the announcement with the illustrative maps and
diagrams, please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/4339A_1-2020-1-21.pdf
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
21 January 2020
Jangada Mines plc ('Jangada' or the 'Company')
2,500-meter Drilling Programme Started at Pitombeiras Vanadium
Project
Jangada Mines plc ("Jangada" or "the Company"), a natural
resources company, is pleased to announce that it has commenced a
new 2,500-metre drilling programme on its 100% owned Pitombeiras
Vanadium Project ("Pitombeiras"), located in the state of Ceará,
Brazil.
Highlights:
-- 2,500-metre drilling programme commenced at Pitombeiras Project
-- Drilling at a rate of 10 hours per day is underway and is
scheduled to be completed in +/-90 days
-- Programme will test the three most prospective magnetic
anomalies over a NE-SW structural trend
-- Drilling results will be released progressively throughout the campaign
-- Programme is fully funded from available resources
Brian McMaster, Chairman of Jangada, said: "Our extensive fully
funded exploration programme has reached an important milestone
with the commencement of drilling at Pitombeiras following the very
encouraging results obtained in 2019. We will update the market as
we receive the results and we look forward to a very busy and
progressive quarter."
Further Information:
The objective of the drilling programme is to evaluate 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 magnetic anomaly (figure 1).
Drill rig and crew are now on site to execute a minimum of
2,500m of diamond drilling, which represents 25 to 30 drill holes
on a drilling grid of 100m by 50m. All planned holes will be
drilled with an inclination of between 50 to 60 degrees in relation
to the surface level and to a depth ranging from 80m to 150m. The
oxide zone will be drilled at an HQ diameter (63.5 mm) and will be
reduced to a NQ2 diameter (50.6mm) on the fresh rock interface. The
drilling programme will be conducted by Servdrill Perfuração e
Sondagem Ltda ("Servdrill"), a contract company with extensive
drilling experience in Brazil. Servdrill will use an UDR-200 drill
rig (figure 2).
Figure 1 - Location of drill targets.
Figure 2 - Drill rig (UDR-200) on site (Pitombeiras North
target).
The Pitombeiras North magnetic anomaly measures 520 m x 380m
over an area of approximately 170,000 square metres, while the
Pitombeiras South magnetic anomaly measures 200m x 150m over an
area of approximately 23,000 square metres. The Goela target is a
new discovery, which extends the prospect area footprint. Goela is
defined by a 370m x 300m magnetic anomaly covering an area of
approximately 80,000 square meters and is associated with a small
hill with outcropping VTM mineralisation. Jangada is also
evaluating the option to drill other targets, which have shown
prospective results from a geophysical, geochemical and geological
point of view.
Jangada has established written procedures for the drilling
programme, which includes;
-- Safety, health and environment rules;
-- Daily drillhole collar check;
-- Core recovery control;
-- Geo-structural logging;
-- Magnetic susceptibility readings;
-- On site XRF analyses (hand held equipment);
-- Density measurements;
-- Core photographic archive;
-- Core splitting and sampling with appropriate QA/QC;
-- Chemical analyses by an independent commercial laboratory;
-- Data entry on a drilling database;
A preliminary JORC (2012) Exploration Target has been projected
from drilling, magnetic survey and rock chip geochemistry to range
between 40 Mt to 60 Mt tonnes at 0.3% to 0.6% V(2) O(5) , 40% to
55% Fe(2) O(3) and 8% to 10% TiO(2) .
The drilling campaign is expected to provide the necessary
technical information to support the elaboration of a JORC
compliant Mineral Resource estimate and a Preliminary Economic
Assessment prepared by independent engineering company.
Competent Person Statement
The information in this announcement has been reviewed by Mr.
Paulo Ilidio de Brito, who is a member of the Australian Institute
of Geoscientists (MAIG # 5173) and a member of AusIMM - The
Australasian Institute of Mining and Metallurgy (MAusIMM # 223453).
Mr. Brito is a professional senior geologist with +34 years of
experience in the mining industry, which is relevant to the style
of mineralization and type of deposit under consideration and to
the activity which he has undertaken to qualify as a Competent
Person as defined in the 2012 edition of the JORC Code. Mr. Brito
has no economic, financial or pecuniary interest in the company and
he consents to the inclusion in this document of the matters based
on his information in the form and context in which it appears.
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 Charlotte Page Tel: +44 (0)20 7236
Ltd David Penson 1177
(Financial PR)
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END
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