Business
Resource Upgrade at Pedra Branca
Resource Upgrade at Pedra Branca.
About this update from Jangada Mines Plc
[{"type":"text","content":"\n \nRNS Number : 1160T Jangada Mines PLC 10 October 2017 \n\nJangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining\n10 October 2017\n Jangada Mines plc ('Jangada' or the 'Company')\nMajor Resource Upgrade at the Pedra Branca Platinum Group Metals Project\n \nJangada Mines plc, a natural resources company developing South America's largest and most advanced platinum group metals ('PGM') project, is pleased to announce the upgrading of its mineral resources at its Pedra Branca Project (the 'Project') in north-eastern Brazil.\n \nOverview\n· Significant upgrade in the mineral resource classification of the Project \n· Measured and Indicated Resources increased by 35% and 74% respectively\n· 77% of the Project's resources now in the Indicated and Measured categories and expected to be converted to economic Reserves during the finalisation of the Prefeasibility Study ('PFS') \n· Upgraded mineral resource expected to materially and positively impact life-of-mine and Project value\n· Management continues to hit development goals - increasing resources and proving significant polymetallic credits including copper, cobalt nickel and chrome\n· Management target exploration potential of greater than 3moz of PGM\n· PFS and Scoping Study progressing on schedule with the Scoping Study to be completed in the near term\n \nBrian McMaster, Executive Chairman of Jangada said, \"Pedra Branca is the largest and most advanced PGM project in South America, with in excess of 1 million ounces of PGM+Au defined and exploration work totalling +US$35 million. With a clear development plan being executed since listing four months ago, we are rapidly unlocking real value as each phase is concluded. The upgrading of the current PGM resource is a further step in this process and demonstrates the long-life potential of Pedra Branca and the minimal expenditure required to increase the Project value. The next step is the conclusion of the Scoping Study, which we believe will highlight the economic potential; this has already been added to with the inclusion of copper, cobalt, nickel, chrome, rhodium and gold credits. We continue to fast-track t...