Jangada Mines Share News (JAN)

(Sharecast News) - Natural resources company Jangada Mines, which is developing the Pedra Branca platinum and nickel project and the Ptombeiras West vanadium project updated the market on the bankable feasibility study currently underway at Pedra Branca, in north-eastern Brazil.The AIM-traded firm said it was on track with the completion of the study to confirm the technical and economic viability of the project.It said the completed hydrology study had successfully demonstrated readily accessible sources of water near the project, at "minimal potential risk" to operations.Those consisted of two major dams situated within an 18-dam drainage basin, which was identified as immediate sources of water for the operation, with the assessment showing a low risk of water ingress into production pits.Verification of the metallurgy, environmental, legal and social components of the bankable feasibility study were now nearing completion, following which the final mine design process could begin, the board explained."The bankable feasibility study for the Pedra Branca project, to further confirm its technical and economic viability, is progressing on track and according to the schedule previously outlined, with anticipated completion during the second quarter of 2019," said Jangada Mines executive chairman Brian McMaster."The hydrology study was an integral component of confirming the technical viability of this exciting asset - the positive findings bolster our confidence to continue to expedite development at the project."We look forward to updating shareholders with our progress soon."