Positive Evidence Of Quality Of Brazilian Vanadium Project
Jangada Mines plc (AIM:JAN.L) has received additional positive drill results from the second phase drilling programme at its 100% owned Pitombeiras Vanadium Project located in Ceará State, Brazil.
The 2,000m diamond drilling (DD) programme, which commenced in October 2020, is evaluating the structural corridor associated with the known vanadium titanomagnetite (VTM) mineralisation, including the Pitombeiras North, Pitombeiras South and Goela anomalies.
Eight holes of nine holes completed to date for a total 649.15 linear metres intersected VTM mineralisation.
Results recently received include:
- 21.50m at 0.55% vanadium pentoxide (V2O5), 9.81% titanium dioxide (TiO2) and 50.39% ferric oxide (Fe2O3), including 7.00m at 0.66% V2O5, 12.17% TiO2 and 60.59% Fe2O3
- 27.01m at 0.64% V2O5, 11.66% TiO2 and 58.51% Fe2O3, including 11.00m at 0.75% V2O5, 14.22% TiO2 and 69.19% Fe2O3
- 27.17m at 0.57% V2O5, 10.81% TiO2 and 55.13% Fe2O3, including 9.00 metres at 0.74% V2O5, 14.50% TiO2 and 70.92% Fe2O3
- 22.68m at 0.59% V2O5, 11.25% TiO2 and 55.59% Fe2O3, including 7.00m at 0.75% V2O5, 14.13% TiO2 and 69.37% Fe2O3
Executive Chairman, Brian McMaster, said the drill results have further extend the mineralisation footprint from the previously known resource area in both N-NE and N-NW directions.
“Drilling results at the Project continue to deliver positive evidence of the quality of our Pitombeiras Vanadium deposit and again we have seen Pitombeiras North’s orebody footprint extended further north from the existent resource area,” Mr McMaster said.
“This adds to our conviction that Pitombeiras North holds a larger resource to support a robust Preliminary Economic Assessment. VTM mineralisation continues to be opened along strike and will be further drill tested in the current drilling programme.
“Concomitant to the drilling activities, we are also progressing with all other key aspects of the upcoming Preliminary Economic Assessment, including additional metallurgical tests, logistics and marketing studies, all of which are fully funded to completion.”
Currently, the Pitombeiras North target has an Indicated Resource of 705,508 tonnes grading 0.62% V2O5 and an Inferred Resource of 1.68 Mt grading 0.60% V2O5 on a high-grade domain with an additional Mineral Resource (Indicated + Inferred) of 2.61 Mt grading 0.40% V2O5 on a low-grade domain.
The second-phase drilling programme is expected to provide the necessary technical information to potentially expand the Company’s initial NI 43-101 mineral resource estimate to support the PEA commissioned with GE21 Consultoria Mineral (GE21).
Additional metallurgical tests have also been commissioned and results are expected in due course. The objective is that, by the time the drilling programme is completed and expanded mineral resources are estimated, metallurgical tests will be readily available for improved accuracy of the PEA.
Other key aspects of the PEA will be the marketing and logistics optionalities, for which Jangada has commissioned market experts to investigate potential buyers of the Company’s products according to the specifications generated by the metallurgical tests.
The current drilling programme, PEA and concomitant project development works will be funded from existing treasury resources.
