Source - LSE Regulatory
RNS Number : 2977D
Jangada Mines PLC
28 June 2021
 

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

28 June 2021

Jangada Mines plc

 

Jangada Is Granted Trial Mining License

               

Jangada Mines plc ("Jangada" or "the Company"), a natural resources company, is pleased to announce the Brazilian National Mining Agency (ANM - Agência Nacional de Mineração) has granted a trial mining license ("Guia de Utilização", or "GU") for its 100%-owned Pitombeiras Project ("Pitombeiras" or "the Project"), Ceará State, Brazil. The GU allows for the extraction of up to 300,000 tonnes of Ferrovanadium ('FeV') bearing material per year from Jangada's exploration licenses with the purpose of continuing to evaluate the technical aspects and economic benefits of the Project.

 

Brian McMaster, Executive Chairman of Jangada, said: "We are very pleased with the timely grant of the Pitombeiras Project GU within three months from submitting the application; another significant development milestone has been achieved. This outcome is a result of our solid development strategy and communication with local authorities about the quality of our project and the benefits to the local community and regional development. As we advance towards mineral resources expansion and updated Preliminary Economic Assessment ("PEA"), the granted GU provides a fundamental section to our fast-track implementation path."

 

Further Information

On March 19th, 2021, the Company announced that Jangada Mines' Executive Director, Luís Azevedo, and VP Project Manager, Jose Luís Martins, met in Fortaleza, Ceará with the local ANM Manager, Mr. Ricardo Bezerra, and submitted Jangada's application for the trial mining license, also known as Guia de Utilização, or GU. On June 25th, 2021, the GU was granted, allowing Jangada to mine up to 300,000 tonnes of FeV bearing material per year from its exploration licenses.

 

As previously reported, the objective of the trial mining license is to initiate the extraction of FeV from the Project, through an open pit mine operation. At this stage of development, the Pitombeiras PEA has focused on evaluating a Direct Shipping Ore ("DSO") operation for the sale of a saleable magnetite concentrate containing a minimum of 62% Fe and additional credit from 25% contained V2O5.

 

A pilot operation under the trial mining license can be developed with a starter open pit operation utilising a contract mining fleet of hydraulic excavators, front-end loaders, 30 tonnes haul trucks, rotary drill rigs and ancillary equipment. The selected beneficiation process route is composed by crushing and screening, and dry magnetic concentration.

 

 

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

 

**ENDS**

 

For further information please visit www.jangadamines.com or contact:

 

Jangada Mines plc

Brian McMaster (Chairman)

Tel: +44 (0) 20 7317 6629

 

 

 

Strand Hanson Limited

(Nominated & Financial Adviser)

James Spinney

Ritchie Balmer

Georgia Langoulant

Tel: +44 (0)20 7409 3494

 

 

 

Brandon Hill Capital

(Broker)

Jonathan Evans

Oliver Stansfield

Tel: +44 (0)20 3463 5000

 

 

 

St Brides Partners Ltd

(Financial PR)

Isabel de Salis

Charlie Hollinshead

E: info@stbridespartners.co.uk

 

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