Jangada Mines PLC (AIM:JAN) has said tests using its proprietary technology on ore from its Pitombeiras project in Brazil showed potential for the extraction of high-grade titanium dioxide (TiO2) and vanadium pentoxide (V2O5) at a reduced cost.
A Zambian consulting firm, YCS Sustainable Solutions used sustainable technology developed by Fodere Titanium, in which Jangada holds a 7.7% interest, to carry out the tests.
Five samples, delivered by Jangada from various locations at Pitombeiras, were crushed, homogenised, milled and subjected to magnetic separation.
“Preliminary test works concentrated the Fe2O3 (iron), TiO2 and V2O5 with all upgrading well and excellent recovery and purity rates reported,” said Jangada in a statement.
Jangada is now preparing 25 tonnes of material to be tested on a larger scale to provide in-depth economics for a Preliminary Economic Assessment (PEA) focussed on the extraction of TiO2, V2O5 from Pitombeiras utilising the technology.
An economic study at Pitombeiras last year indicated a US$96.5mln post-tax Net Present Value (8% discount rate), but Jangada believes that incorporating the new technology will improve that.
Brian McMaster, executive chairman, said the successful extraction is a major boost and will make the project more appealing to development partners.
“We will now look to upscale the test and deliver an additional economic study to further explore the project parameters. The advancement of Pitombeiras has been dependent on the right pricing environment, particularly with relevance to iron ore.
“However, with the application of Fodere's technology, we can improve the value of the titanium and vanadium components, and thus the attractiveness of the project," McMaster added.