Business
Annual Results for the 18 Months Ended 31 Dec 2020
Annual Results for the 18 Months Ended 31 Dec 2020.
About this update from Jangada Mines Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 7172T\n Jangada Mines PLC\n 29 March 2021\n \n \n \n \n Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining\n \n \n 29 March 2021\n \n \n Jangada Mines plc\n \n \n Annual Results for the 18 Months Ended 31 December 2020\n \n \n \n \n \n Jangada Mines plc ('Jangada' or 'the Company'), a natural resources company, is pleased to announce its audited financial results for the 18-month period ended 31 December 2020. The Company is today posting its Annual Report & Accounts and Notice of AGM to Shareholders, which will also shortly be available on the Company's website. \n \n \n \n \n \n REVIEW OF THE BUSINESS\n \n \n Pitombeiras Vanadium Project\n \n \n During the period under review, the Company continued to develop its 100% owned Pitombeiras Vanadium Project ('Pitombeiras' or 'the Project'), located in the state of Ceará, Brazil and I am pleased to confirm that we have made great progress in this regard.\n \n \n \n \n \n C\n onsistent vanadium-titanium-iron grades and widths\n confirmed; \n n\n ew\n \n drilling targets delineated; an initial \n National Instrument 43-101 ('NI 43-101') compliant resource estimate of 5.70Mt released; and post period end, a \n Preliminary Economic Assessment ('PEA') defining robust economics and remarkable potential for further growth delivered. We are rapidly ticking boxes as we look to fast-track the exciting Pitombeiras Vanadium Project ('Pitombeiras' or 'the Project') in Brazil to production, \n realise its potential and, in the process, generate value for all our shareholders.\n \n \n \n \n \n The 18-month period under review saw us embark on a plethora of activity at Pitombeiras including drilling programmes, metallurgical tests, and airborne magnetic surveys to delineate vanadium titanomagnetite ('VTM') drilling targets. The positive data generated from these activities enabled us to report an initial National Instrument 43-101 ('NI 43-101') compliant resource estimate for the Project mid 2020:\n \n \n \n \n \n · \n Total Resource estimate of 5.70Mt at an average grade of 0.51% vanadium pentoxide ('\n V2O5'), 10.09% titanium dioxide ('TiO2') and 50.42% of ferric oxide ('Fe2O3') for a contained resource of 28,990 tonnes V2O5\n \n \n · \n Indicated Resource estimate of 1.47Mt at an av...