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Jangada Mines Plc
Summary
| Project: | Pedra Branca | |
|---|---|---|
| Deposit: | Pedra Branca | |
| Location: | Brazil | |
| Commodities: | Platinum-Gold-Copper-Nickel-Palladium | |
| Date: | 8/16/2017 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Resource Increase/Upgrade | |
| Report details: | 16-8-2017: Jangada Mines Plc announces a Resource Estimation report for its Pedra Branca deposit at the Pedra Branca project. Amended Resource Estimation for the Pedra Branca PGM project. A number of amendments have been made to the 'High Value JORC Compl | |
| Resources: | (Resource, Total): 23114kt @ 1.280g/t PGM, 0.041g/t Au, 0.76g/t Pd, 0.48g/t Pt at project | |
| CP/QP: | [Resources]: Bernardo Viana (GE21) | |
| ABSTRACT: | A number of amendments have been made to the 'High Value JORC Compliant Cobalt and Chrome Resources Confirmed For the Pedra Branca Platinum Group Metals Project' announcement released on 16 August 2017 at 7.00am under RNS No 1264O. The in-situ values "of approximately USD700 million or USD33 a tonne" included in the original announcement were not based on the requirements of the JORC (2012) Code but were based on management estimates and as such, to avoid confusion, have been removed. In addition, the JORC compliant resource has been amended to "670kt" Cr from "600kt" Cr. The full amended text is shown below. 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 at the Company's Pedra Branca PGM project ('the Project') in Ceará State, north-eastern Brazil, which now includes cobalt and chrome by-product credits. Brian McMaster, Executive Chairman of Jangada said, "The additional cobalt and chrome credits follow on the heels of the extra nickel and copper credits and translate into significant additional potential value to be unlocked at Pedra Branca. Our current global resources now include 1 million ounces of PGM+Au, 109 Mlbs of nickel, 23 Mlbs of copper, 6.4 Mlbs of cobalt and 670kt of chrome. We have now commenced metallurgical test work to understand the optimum extraction process for these metals as part of the PFS, which we expect will demonstrate the strong economics of the Project. "We have what we believe to be a highly valuable asset. Our plan remains to work towards the commencement of trial mining and then commercial production at an initial rate of 30,000 ounces PGMs per annum within 12-18 months." | |
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