Final Assays Highlight Brazilian Project’s Prospectivity
Jangada Mines plc (AIM: JAN) has received promising assay results from its diamond drilling (DD) programme at its Pitombeiras Vanadium Project in Brazil.
Executive Chairman,Brian McMaster, said the programme has successfully 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.
“The 2020 drilling campaign has been an overwhelming success, underpinning the significant prospectivity of Pitombeiras as a result of the consistency of returned grades, widths and continuity,” Mr McMastersaid.
“The results of these latest and final drill holes have further confirmed this and also highlighted the effectiveness of our exploration approach of utilising airborne magnetic surveys to delineate VTM drilling targets.
“The Pitombeiras North and Goela targets are two out the six identified airborne magnetic anomalies and our technical team strongly believe that the VTM system will continue to grow as we expand our drilling footprint, which is now being considered as part of our ongoing development strategy.
“In the meantime, the 2020 drill results, together with results from our 2019 drill programme, will be used to prepare an initial JORC Resource estimate, which we look forward to sharing further details on in due course.”
Highlights of the results of the final five assay results received from the Goela Target, includes:
o 27.75 metres at 0.65% vanadium pentoxide (V2O5), 12.95% titanium dioxide (TiO2) and 63.69% ferric oxide (Fe2O3), including 9.50 metres at 0.77% V2O5, 15.19% TiO2 and 72.44% Fe2O3; and
o 29.00 metres at 0.59% V2O5, 11.96% TiO2 and 58.64% Fe2O3, including 7.00 metres at 0.79% V2O5, 15.41% TiO2 and 73.26% Fe2O3.
A total of 19 DD holes have now been completed in 2020 for a total of 1,360.80 metres, including 1,058.85 metres at the Pitombeiras North target and 301.95 metres at the Goela target. Of these, 16 from a total of 19 drillholes intersected VTM mineralisation.
The Pitombeiras Project has returned in total 20 VTM mineralised holes out of the 24 holes drilled in the 2019 and 2020 drilling campaign, which has intersected weighted average grades and apparent widths of 0.545% V2O5, 10.86% TiO2 and 56.71% Fe2O3 over an average thickness of 25.16m. The Pitombeiras North and Goela targets are two out of the six prospective airborne magnetic anomalies identified with VTM’s signatures similar to Pitombeiras North target over a total area of 1,958 hectares.