Jangada Mines plc (AIM: JAN) has commenced a 2500 metre drilling programme on its 100% owned Pitombeiras Vanadium Project in the state of Ceará in Brazil.
Chairman, Brian McMaster, reported that drilling is progessing at a rate of 10 hours per day and is scheduled to be completed in approximately 90 days.
The programme will test the three most prospective magnetic anomalies over a NE-SW structural trend.
“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.”
Mr McMaster said the drilling programme will 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.
The diamond drilling programme is targeting 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.
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.
“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,” Mr McMaster said
