09:20 Wed 22 Apr 2020
Jangada Mines PLC - Drilling Programme Completion
To view the announcement with the illustrative maps and diagrams please use the following link:
http://www.rns-pdf.londonstockexchange.com/rns/4759K_1-2020-4-22.pdf
Drilling Programme Completion
Highlights:
· 19 drillholes have been concluded for a total of 1,360.80 metres
· Two additional assay results received:
o 18.00 metres at 0.49% vanadium pentoxide ('V2O5'), 10.02% titanium dioxide (' TiO2') and 49.61% ferric oxide ('Fe2O3')
o 35.66 metres at 0.56% V2O5, 11.04% TiO2 and 54.39% Fe2O3
· Successfully tested VTM anomaly boundaries and remaining assays for 11 mineralised drillholes to be received in order to complement data base for initial JORC mineral resource estimate
Further Information
A total of 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. The drill rig has now been demobilised. 16 from a total of 19 drillholes intersected VTM mineralisation.
Assay results have been received for 5 DD holes, including newly received Hole DD20PI14, which intersected 18.00 meters at 0.49% V2O5, 10.02% TiO2 and 49.61% Fe2O3, and Hole DD20PI16, which intersected 35.66 metres at 0.56% V2O5, 11.04% TiO2 and 54.39% Fe2O3.
With the conclusion of the drilling programme, Jangada has now tested the boundaries of the anomaly as required and, upon receipt of the assay results for the remaining 11 drillholes, the Company will have sufficient data (20 VTM mineralised holes, including 2019 and 2020 drilling) to determine an initial JORC mineral resources estimate and continue with a preliminary economic assessment ('PEA'), which will be prepared by an independent engineering company to be selected. Both of these activities are to be funded from existing cash resources.
The concluded 2020 drilling programme is a follow-on from the four drill hole campaign executed in 2019. With the addition of the recently received Holes DD20PI14 and DD20PI16, the intersected weighted average grades and widths for all 9 mineralised holes stands at 0.51% V2O5, 10.15% TiO2 and 50.36% 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 |
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 link.
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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