Initial Drilling Results from 2,500-metre Campaign at Pitombeiras Vanadium Project

Jangada Mines plc, a natural resources company, is pleased to announce the initial results of the 2020 drilling programme on the Pitombeiras North target at its 100% owned Pitombeiras Vanadium Project (‘Pitombeiras Project’ or ‘the Project’), located in Ceara State, Brazil.  The 2,500-metre diamond drilling (‘DD’) programme, which commenced in January 2020, is underway to evaluate the structural corridor associated with the known vanadium titanomagnetite (‘VTM’) mineralisation, which includes the Pitombeiras North and Pitombeiras South anomalies and the newly discovered Goela anomaly.

Highlights:

* Three drill holes completed to date to a depth of 120.00 metres each

* All intersected VTM mineralisation

* Results include:

→ 38.00 metres at 0.558% vanadium oxide (‘V2O5’), 11.31% titanium (‘Ti’) and 38.40% iron (‘Fe’)

→ 32.18 metres at 0.547%, 10.79% Ti and 37.22% Fe, including 13.25 metres at 0.740% V2O5, 14.63% Ti and 48.9% Fe

* Programme is testing the three most prospective magnetic anomalies over a 3 km NE-SW structural trend

Brian McMaster, Chairman of Jangada, said: “With VTM mineralisation intersected in all three targets, these initial results continue to underscore the strong prospectivity of our Pitombeiras Project. We are therefore delighted with the results received to-date and look forward to delivering further results in the coming months as the drilling programme continues to progress on schedule.  This drilling is targeting high-grade areas similar to those that have already been tested for their suitability to produce concentrate through magnetic separation and it is our goal that results from our 2020 activities will enable us to define a JORC compliant Mineral Resource estimate to build upon the current JORC Exploration Target of 40Mt-60Mt at 0.3% to 0.6% V2O5, 40%-55% Fe2O3 and 8%-10% TiO2. “

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