(Alliance News) - Jangada Mines PLC on Monday reported additional drilling assay results from its diamond drilling programme at its Pitombeiras vanadium project in Brazil.
The natural resources company said the programme has evaluated the structural corridor associated with the known vanadium titanomagnetite mineralisation, which includes the Pitombeiras North and Pitombeiras South anomalies and the newly discovered Goela VTM targets.
"The results of these two newly received holes not only continue to show consistent Vanadium-Titanium-Iron grades and widths but has also returned the highest-grade intercept so far at 0.75% vanadium oxide," said Chair Brian McMaster.
"On average, the Pitombeiras North Target has shown grades of 0.5% vanadium oxide over 30.46 metres thickness, mostly starting on or near surface, on a grid of 50 metres by 100 metres, which brings the level of confidence necessary to delineate our first initial JORC mineral resource estimate in due course," added McMaster.
JORC is an Australasian professional code of practice that sets minimum standards for public reporting of minerals exploration results, mineral resources and ore reserves.
Looking ahead, Jangada said there remain assay results of 11 drill holes to be received, which it expects to take up until the end of June.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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Jangada Mines (JAN)