(Alliance News) - Jangada Mines PLC on Thursday said its 25%-owned ValOre Metals Corp has identified platinum group metals and gold mineralisation in all rock samples at new exploration target C04 at the Pedra Branca project in Brazil.
The natural resources company said all four grab samples from C04 target returned compelling platinum group metals and gold assay results and ValOre is now in the process of identifying optimal drill hole locations for a 2020 resource expansion and exploration drilling programme at the project.
Jangada Mines Chair Brian McMaster said: "ValOre's team is making excellent progress at Pedra Branca, which its chair described as a 'target-rich environment', hosting a 'discovery pipeline'. We are delighted to continue to support ValOre as it looks to realise significant value for shareholders, whilst we focus on advancing the exciting Pitombeiras West vanadium deposit in north eastern Brazil."
Jangada Mines shares on Thursday closed at 1.70 pence each, down 2.9%.
By Tapan Panchal; tapanpanchal@alliancenews.com
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Jangada Mines (JAN)