Extends Known Mineralisation At Chilean Vanadium Project
Jangada Mines plc (AIM:JAN) has received additional positive drill results from its current 2,000m drill programme at its 100% owned Pitombeiras Vanadium Project in Ceará State, Brazil.
The new results demonstrate the continuity of the vanadiferous titanomagnetite (VTM”) mineralisation in several directions
Jangada said the VTM mineralisation at Pitombeiras North continues to be opened on the south-eastern, south-western, and north-north-eastern portions of the deposit for resources expansion.
Results recently received include:
- 21.29m at 0.58% vanadium pentoxide (V2O5), 11.09% titanium dioxide (TiO2) and 56.00% ferric oxide (Fe2O3), including 8.02 metres at 0.70% V2O5, 13.33% TiO2 and 65.66% Fe2O3
- 22.75m at 0.52% V2O5, 10.31% TiO2 and 51.66% Fe2O3, including 7.00m at 0.62% V2O5, 12.27% TiO2 and 60.23% Fe2O3
Executive Chairman, Brian McMaster, said 22 drill holes completed to date for a total of 1,466.45 linear metres, with 18 holes intersecting VTM mineralisation, and 16 holes’ results have been received from laboratory – one was drilled for metallurgical purposes.
“We continue to advance the Pitombeiras Vanadium Project on many fronts, from resource expansion drilling to project development activities,” Mr McMaster said.
“These include petrographic and mineralogical studies and collection of volumetric samples to assist upcoming metallurgical testworks, detailed topographic drone survey, environmental baseline studies as part of the trial mining licence process, and the initiation of discussions with the Port of Pecém for export of our DSO product.
“As we successfully wrap up the drilling campaign at the Pitombeiras North target, I am pleased to note that the deposit continues to be opened in several directions, providing significant future upside.
“While work to update the Mineral Resources Estimate for the Pitombeiras North deposit starts, our team is mobilising the drill rig to the Goela target; results from this campaign will be incorporated in the new resources on conclusion.
“We are on track to deliver a more robust PEA, scheduled for completion in Q3 2021, and look forward to updating our stakeholders as we continue to progress with our plans.”
A second diamond drilling (‘DD’) programme at the Pitombeiras Vanadium Project commenced in October 2020, aimed at continuing to evaluate the structural corridor associated with the known VTM mineralisation, including the Pitombeiras North, Pitombeiras South and Goela deposits. Currently, 22 drillholes have been completed to date for a total of 1,466.45 linear-metres, or circa 73% of the planned 2,000m programme, all located on the Pitombeiras North target.
