Jangada Mines plc (‘Jangada’ or ‘the Company’), a natural resources company, is pleased to announce additional drilling assay results and report that it has concluded its diamond drilling (‘DD’) programme at its Pitombeiras Vanadium Project (‘Pitombeiras’ or ‘the Project’) in Brazil. The programme evaluated 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 VTM targets.


*  19 drillholes have been concluded for a total of 1,360.80 metres

*   Two additional assay results received:

→  18.00 metres at 0.49% vanadium pentoxide (‘V2O5’), 10.02% titanium dioxide (‘ TiO2’) and 49.61% ferric oxide (‘Fe2O3’)

→  35.66 metres at 0.56% V2O5, 11.04% TiO2 and 54.39% Fe2O3

*   Successfully tested VTM anomaly boundaries and remaining assays for 11 mineralised drillholes to be received in order to complement data base for initial JORC mineral resource estimate

Brian McMaster, Chairman of Jangada, said: “We have successfully completed our drilling campaign at Pitombeiras and the diamond drill rig and drilling crew have now been demobilised from the field, which brings us comfort in these challenging times caused by COVID-19. In total, 16 drillholes intersected significant VTM mineralisation and we have seen consistent Vanadium-Titanium-Iron grades and widths from the 9 drillhole assay results we have received so far. Upon receiving the remaining 11 drillhole results, we will be ready to calculate and report our initial JORC mineral resource estimate, followed by a Preliminary Economic Assessment. I would like to thank our exploration team for having accomplished our programme on time and on budget and we look forward to the next phase of development.”