Tenements granted at Pitombeiras Vanadium Project

RNS Number : 9168C

Jangada Mines PLC

13 February 2020

 

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

13 February 2020

 Jangada Mines plc ('Jangada' or the 'Company')

New Tenements granted at Pitombeiras Vanadium Project

Jangada Mines plc ("Jangada" or "the Company"), a natural resources company, is pleased to announce that it has been granted by the Agência Nacional de Mineração (the agency which has replaced the DNPM) additional tenements alongside its 100% owned Pitombeiras Vanadium Project ("Pitombeiras"), located in the state of Ceará, Brazil.

To view the full RNS with illustrative diagrams and maps please use the following link:

http://www.rns-pdf.londonstockexchange.com/rns/9168C_1-2020-2-13.pdf

Highlights:

·    Additional tenements, known as Mocidade, add 864 hectares to the total exploration area which is now 1,958 hectares

·    Tenements acquired through direct application and consequently negligible cost

·  New tenements include prospective airborne magnetic anomalies with signatures similar to the Pitombeiras' VTM targets

·    Detailed geological mapping and rock chip sampling included in our current exploration programme

Brian McMaster, Chairman of Jangada, said: "Based on the work from our current exploration programme, and our increased knowledge of the project, we have identified suspected trends in the geology. The addition of the Mocidade property is part of this increased geological knowledge and we believe offers Jangada an exciting additional line of exploration enquiry.  Initially, we will conduct  detailed geological mapping and rock chip sampling, the results of which will be announced in Q2 2020."    

Further Information:

Jangada has expanded its footprint area at its Pitombeiras Vanadium Project by adding, through direct staking, the Mocidade property, located approximately 3 km north of the main Pitombeiras' targets (Figure 1).

The Mocidade property has a total area of 864 hectares and contains several airborne magnetic anomalies with signatures similar to the Pitombeiras' VTM targets. Jangada has selected 6 magnetic targets to undertake a field reconnaissance, which will initially include geological mapping and rock chip sampling and followed by a detailed ground magnetic survey if initial results are deemed positive (Figure 2).

Figure 1 - Location of the Mocidade property relative to the Pitombeiras property - see PDF

Figure 2 - Magnetic targets selected for field reconnaissance on Mocidade property - see PDF

Competent Person Statement

The information in this announcement is prepared by Mr. Paulo Ilidio de Brito, who is a member of the Australian Institute of Geoscientists (MAIG # 5173) and a member of AusIMM - The Australasian Institute of Mining and Metallurgy (MAusIMM # 223453). Mr. Brito is a professional senior geologist with +34 years of experience in the mining industry, which is relevant to the style of mineralization and type of deposit under consideration and to the activity which he has undertaken to qualify as a Competent Person as defined in the 2012 edition of the JORC Code. Mr. Brito has no economic, financial or pecuniary interest in the company and he consents to the inclusion in this document of the matters based on his information in the form and context in which it appears.

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:

Jangada Mines plc	Brian McMaster (Chairman)	Tel: [phone]
Strand Hanson Limited (Nominated & Financial Adviser)	James Spinney Ritchie Balmer Jack Botros	Tel: [phone]
Brandon Hill Capital (Broker)	Jonathan Evans Oliver Stansfield	Tel: [phone]
St Brides Partners Ltd (Financial PR)	Charlotte Page Beth Melluish	Tel: [phone]

 

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