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Jangada Mines Plc
Summary
| Project: | Pedra Branca | |
|---|---|---|
| Deposit: | Pitombeiras | |
| Location: | Brazil | |
| Commodities: | Vanadium-Titanium-Iron | |
| Date: | 9/30/2019 | |
| Report Code: | JORC | |
| Report Type: | Resource Estimation | |
| Project Stage: | Pursuing Pre-Feasibility Study | |
| Report details: | 30-9-2019: Jangada Mines Plc announces a Resource Estimation report for its Pitombeiras deposit at the Pedra Branca project. Technical report with current exploration target for Pitombeiras. Jangada Mines plc, a natural resources company, is pleased to an | |
| Resources: | Exploration Target Range: 40-60Mt @ 0.3-0.6% V2O5, 40-55% Fe2O3, 8-10% TiO2 | |
| CP/QP: | [Overall Report]: Paulo Ilidio de Brito (Independent) | |
| ABSTRACT: | Jangada Mines plc, a natural resources company, is pleased to announce the completion of a JORC (2012) compliant Technical Report (the "Technical Report") on the Pitombeiras Vanadium Project ("Pitombeiras"), located in the state of Ceará, Brazil. Brian McMaster, Chairman of Jangada, said: "We continue to be encouraged with the potential of Pitombeiras to become a high-grade world-class vanadium, iron, titanium project with the ability to produce a concentrate through magnetic separation. The JORC Exploration Target, as identified in the Technical Report, indicates we have grades and scale required to develop a substantial, economically viable project, situated in a logistically friendly environment." The Pitombeiras vanadium mineralisation is associated with a large airborne magnetic anomaly identified by Anglo American Platinum Exploration in 2013. The geological features indicate that the vanadium mineralization can be correlated with the Vanadiferous Titanomagnetite ("VTM") type deposits which are the principal sources of vanadium globally. Geophysical modelling and interpretation have shown that the airborne magnetic anomaly extends to approximately 1,750m x 1,000m in size. Approximately 70% of global vanadium resources are currently mined at in-situ grades of approximately 0.25% V2O5. The Pitombeiras drill results indicate that it potentially hosts a deposit with grades significantly higher and compares favourably with those demonstrated by existing high-grade operations in Brazil, South Africa and Australia. | |
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