Jangada Mines PLC (AIM:JAN, FRA:JMU) has received positive bench and pilot scale metallurgical test results on ferrovanadium-bearing titanomagnetite samples taken from the Pitombeiras ferrovanadium project.
Pilot scale metallurgical tests were conducted at the Fundaço Gorceix mineral and metallurgy institute in Brazil and the company described the results as excellent.
The process used magnetic separation using dry and wet concentration to produce a ferrovanadium-rich concentrate. Jangada said the result indicates that concentrate product could be highly attractive and would support a highly economical operation.
"Today's announcement represents a further exciting step forward in the development of Pitombeiras,” said chairman Brian McMaster. “These metallurgical test results, along with recently reported upsized mineral resources estimates, are now being incorporated into the ongoing definitive feasibility study.”
“The favourable results also provide us with the necessary information to further advance the negotiations with potential traders and possible local buyers. It has been a busy time at Jangada and we are very excited to share developments as they unfold."