Jangada Mines PLC - London-based natural resources company - Completes drilling of 19 holes totalling 1,157 linear metres at Pitombeiras vanadium project in Brazil. Of the 19 holes, 15 intersected vanadium titanomagnetite mineralisation, which confirms continuity of mineralisation within the existing deposit and will be used for the upgrade of current mineral resources.
Also announces the sale of 3.88 million shares in ValOre shares for CAD0.30 each, totalling CAD1.2 million. Proceeds will go towards funding the ongoing explorations and working capital purposes at Pitombeiras project.
Jangada Mines now holds 10.6 million ValOre, reflecting an 8.9% interest.
Current stock price: 8.74 pence
Year-to-date change: up 88%
By Dayo Laniyan; dayolaniyan@alliancenews.com
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Jangada Mines (JAN)