Jangada Mines Initial Drilling Results From The Follow-on 2,000-metre Step-out Drilling Campaign At Pitombeiras Vanadium Project

Jangada Mines plc, a natural resources company, is pleased to announce the initial results of the second phase of its 2020 drilling programme at its 100% owned Pitombeiras Vanadium Project (‘Pitombeiras Project’ or the ‘Project’), located in Ceará State, Brazil.  The 2,000-metre diamond drilling (‘DD’) programme, which commenced in October 2020, is continuing to evaluate the structural corridor associated with the known vanadium titanomagnetite (‘VTM’) mineralisation, including the Pitombeiras North, Pitombeiras South and Goela anomalies.

Highlights:

·    Six of seven drill holes completed to date for a total of 468.45 linear metres intersected VTM mineralisation

·    Assay results from SGS-Geosol labs have been received for three holes with intercepts including:

o  36.03 metres at 0.56% vanadium pentoxide (‘V2O5’), 10.64% titanium dioxide (‘TiO2’) and 54.39% ferric oxide (‘Fe2O3’)

o  14.60 metres at 0.62% V2O5, 11.99% TiO2 and 59.36% Fe2O3, including 7.00 metres at 0.71% V2O5, 13.71% TiO2 and 67.59% Fe2O3

·    Drilling to date is illustrating that the mineralised zone is extending to the north, north-east and remains open along strike

·    Programme is designed to upgrade the confidence of the current resource base of 5.70Mt at an average grade of 0.51% V2O5 as well as to expand its overall size

Brian McMaster, Executive Chairman of Jangada, said: “We are very pleased that the initial step-out drill results confirm our thesis that the Pitombeiras North’s orebody footprint extends further north from the existing resource area; this reinforces our conviction that Pitombeiras North holds a larger resource. The results reported indicate that the VTM mineralisation extends on a N-NE direction and is open along the strike.  Our fully funded programme continues at site as planned and we are awaiting additional results in due course.”

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