17:00 Mon 18 May 2020
Jangada Mines PLC - Drilling Results from Pitombeiras North Target
Additional Drilling Results from Pitombeiras North Target
To view the announcement with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/1254N_1-2020-5-17.pdf
Highlights
· Highest V2O5 grade intercept received to date at 0.75%
· Results recently received include:
o 45.83 metres at 0.50% vanadium pentoxide (V2O5), 9.64% titanium dioxide (TiO2) and 48.64% ferric oxide (Fe2O3), including 5.21 metres at 0.75% V2O5, 14.71% TiO2 and 68.76% Fe2O3 on drillhole DD20PI18
o 29.64 metres at 0.53% V2O5, 10.66% TiO2 and 53.02% Fe2O3 on drillhole DD20PI17
· Dry density measurements on core samples concluded
Further Information
19 DD holes have been completed for a total of 1,360.80 metres, including 1,058.85 metres at the Pitombeiras North target and 301.95 metres at the Goela target. 16 of these intersected VTM mineralisation.
Assay results have been received for 7 DD holes, including newly received Hole DD20PI17, which intersected 29.64 metres at 0.53% V2O5, 10.66% TiO2 and 53.02% Fe2O3, and Hole DD20PI18, which intersected 45.83 metres at 0.50% V2O5, 9.64% TiO2 and 48.64% Fe2O3, including 5.21 metres at 0.75% V2O5, 14.71% TiO2 and 68.76% Fe2O3.
Upon receipt of the assay results for the remaining 11 drillholes, 8 of them from the Goela Target, the Company will have sufficient data (20 VTM mineralised holes, including 2019 and 2020 drilling) to determine initial mineral resources and continue with a preliminary economic assessment ('PEA') and JORC resource estimate. Currently, the Company has 299 drill samples (including QA/QC samples) under analysis on the SGS-Geosol laboratory.
The Company also completed the dry density measurements on a total of 305 core samples, including the VTM mineralised intervals and their respective host lithologies.
The concluded 2020 drilling programme is a follow-on from the 5 drill holes campaign executed in 2019. With the addition of the recently received Holes DD20PI17 and DD20PI18, the intersected weighted average grades and widths for all 11 mineralised holes stands at 0.51% V2O5, 10.13% TiO2 and 54.83% Fe2O3 as set out on Table 1 and Figure 1.
Table 1
HOLE_ID |
E.O.H. ** (m) |
FROM (m) |
TO (m) |
APPARENT WIDTH (m) *** |
GRADES**** |
||
V2O5 (%) |
TiO2 (%) |
Fe2O3 (%) |
|||||
DD19PI07 * |
100.20 |
0.00 |
28.00 |
28.00 |
0.45 |
9.49 |
47.29 |
DD19PI08 * |
59.80 |
0.00 |
41.05 |
41.05 |
0.41 |
7.94 |
40.48 |
DD19PI09 * |
54.00 |
0.00 |
31.90 |
31.90 |
0.58 |
11.74 |
57.41 |
DD19PI10 * |
60.25 |
0.00 |
31.50 |
31.50 |
0.51 |
10.3 |
51.01 |
DD20PI11 * |
120.00 |
6.00 |
38.18 |
32.18 |
0.55 |
10.79 |
53.22 |
(including) |
11.60 |
24.85 |
13.25 |
0.74 |
14.63 |
70.01 |
|
DD20PI12 * |
120.00 |
0.00 |
38.00 |
38.00 |
0.56 |
11.31 |
54.90 |
DD20PI13 * |
120.00 |
0.00 |
5.35 |
5.35 |
0.70 |
12.96 |
65.42 |
21.95 |
53.52 |
31.57 |
0.45 |
8.66 |
44.88 |
||
(including) |
21.95 |
38.00 |
16.05 |
0.56 |
10.31 |
53.22 |
|
DD20PI14 * |
120.00 |
6.04 |
8.25 |
2.21 |
0.67 |
12.85 |
60.72 |
DD20PI14 * |
23.50 |
41.50 |
18.00 |
0.49 |
10.02 |
49.61 |
|
DD20PI16 * |
120.00 |
1.00 |
36.66 |
35.66 |
0.56 |
11.04 |
54.39 |
DD20PI17 |
120.00 |
0.00 |
29.64 |
29.64 |
0.53 |
10.66 |
53.02 |
(including) |
1.00 |
4.00 |
3.00 |
0.71 |
13.97 |
65.80 |
|
DD20PI18 |
50.50 |
0.00 |
45.83 |
45.83 |
0.50 |
9.64 |
48.64 |
(including 1) |
0.00 |
24.50 |
24.50 |
0.57 |
10.44 |
53.32 |
|
(including 2) |
11.50 |
16.71 |
5.21 |
0.75 |
14.71 |
68.76 |
|
|
47.30 |
49.40 |
2.10 |
0.41 |
7.43 |
39.05 |
|
Notes: |
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(*) Holes DD19PI07-10 previously reported on NR dated (**) E.O.H means "End of hole" |
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(***) intervals do not represent the true widths |
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(****) V2O5, TiO2 and Fe2O3 grades are uncut and rounded to two decimal places |
Figure 1: Plan view with drilling results from Pitombeiras North target (including 2019 and 2020 drill intersections) - See PDF
The drilling programme is expected to provide the necessary technical information to support the potential to define a JORC compliant Mineral Resource estimate and subsequent Preliminary Economic Assessment prepared by an independent engineering company to be selected. Both of these activities are to be funded from existing cash resources.
Quality Assurance & Quality Control
All drill samples have been prepared and analysed by SGS-Geosol Laboratórios Ltda ('SGS-Geosol') based in
QA/QC procedures include the submission by Jangada of systematic duplicates, blanks and standard samples within every sample batch submitted to SGS. In addition, SGS-Geosol inserts its own standards, blanks and duplicate samples. The results from these control samples indicate acceptable consistency of analysis.
Qualified Person Review
The technical information in this announcement has been reviewed by Mr.
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:
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Tel: +44 (0) 20 7317 6629 |
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Strand (Nominated & Financial Adviser) |
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Tel: +44 (0)20 7409 3494 |
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(Broker) |
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Tel: +44 (0)20 3463 5000 |
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(Financial PR) |
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Tel: +44 (0)20 7236 1177 |
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