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Jangada Mines Plc
Summary
| Project: | Pedra Branca | |
|---|---|---|
| Deposit: | Pedra Branca | |
| Location: | Brazil | |
| Commodities: | Platinum-Gold-Copper-Nickel-Palladium | |
| Date: | 7/11/2017 | |
| Report Code: | (no Code) | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 11-7-2017: Jangada Mines Plc announces a Resource Estimation report for its Pedra Branca deposit at the Pedra Branca project. Updated resource estimation adds Nickel and Copper to the resource. Jangada Mines plc, a natural resources company developing Sou | |
| Resources: | (Resource, Total): 32138kt @ 1.280g/t PGM, 0.041g/t Au, 0.045% Cu, 0.214% Ni at project | |
| CP/QP: | [Resources]: Bernardo Viana (GE21) | |
| ABSTRACT: | Jangada Mines plc, a natural resources company developing South America's largest and most advanced platinum group metals ('PGM') project, is pleased to announce an updated JORC (2012) compliant Resource estimate, which now includes copper and nickel by-product credits, at the Company's Pedra Branca PGM project ('the Project') in Ceará State, north-eastern Brazilfollowing ongoing work over the last few months. Brian McMaster, Executive Chairman of Jangada said, "When we listed on AIM two weeks ago, I said that we were going to hit the ground running; as this announcement highlights, we are doing just that. These results, which add nickel and copper credits to the JORC resource, not only confirm the historically reported PGM resources that were estimated by the previous operator, Anglo American Platinum, but they also underscore management's belief that Pedra Branca hosts a high value, multi-commodity resource. With this in mind, we also continue our efforts in fully quantifying the known occurrence of cobalt, chrome and rhodium in the mineralised package. "The updated mineral resource now includes 23.138 Mt of ore in the Measured, Indicated and Inferred categories, containing 109 million pounds of nickel and 23 million pounds of copper grading at 0.214% Ni and 0.045% Cu. At today's spot prices, we estimate the nickel (US$4.21/lb) and copper (US$2.68/lb) credits add an additional US$521 million to the in-situ value of the currently declared PGM+Au resources at the Project. The significance of the additional nickel and copper credit within the Pedra Branca ore zone is that the incremental value of these elements will off-set the costs of producing PGM and will accrue material profitability upside at no additional cost. With circa US$35 million having previously been invested in the Project, we always believed Pedra Branca represented a unique opportunity to build a profitable mine, and today's results only strengthen our confidence." | |
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