05:20 Tue 20 Oct 2020
Jangada Mines PLC - ValOre Announcement
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining
Jangada Mines plc ('Jangada' or the 'Company')
ValOre Announcement
Jangada Mines plc, a natural resources company, is pleased to note the recent announcement released on
The announcement has been reproduced exactly as reported below, other than for the inclusion of images, and can be viewed in full on ValOre's website using the following link: http://valoremetals.com/news-media/news-releases/2020/valore-provides-pedra-branca-exploration-update-second-rig-arrives-to-commence-fully-funded-phase-2-drill-program
ValOre Provides Pedra Branca Exploration Update; Second Rig Arrives to Commence Fully Funded
Phase 2 Drill Program
"Our exploration program at Pedra Branca is gaining significant momentum with the commencement of Phase 2 drilling and the addition of a second drill rig," stated ValOre's Chairman and CEO,
Highlights from 2020 Exploration Program at Pedra Branca
· 775 core samples from 12 drill holes have been submitted for assays from the Cedro,
· Seven additional high priority follow-up drill holes are in process or have been completed at the Trapia 1 zone;
· Fully funded Phase 2 drill program, planned for 3,035 metres ("m"), has commenced with the arrival of a second drill rig;
· Two drill rigs will complete Trapia 1 follow-up drilling, followed by mobilization to test resource expansion of the Trapia 2 and
· ValOre geologists have opened, mapped, and sampled two historical trenches in the highly anomalous area north of the Trapia 1 resource;
· 532 soil samples and 37 rock samples from the follow-up
Mendes North Follow-Up Exploration Program
In Q2 2020, ValOre identified three WorldView+magnetic anomaly PGE targets each >1 km in extent (collectively termed, "
Results of the initial program warranted the execution of immediate follow-up sampling, mapping, and prospecting to expand and delineate the unconstrained PGE-in-soil anomalies. As such, 532 soil samples and 37 rock samples were collected and have been received by SGS Vespasiano,
Phase 1 Drill Program Completed
Highly favorable results from the first five 2020 drill holes at the Trapia 1 resources expansion target warranted the planning and commencement of seven high priority follow-up drill holes, targeting PGE mineralization open both up-dip to west and along strike to south. The PGE-bearing ultramafic intrusion also remains open and is thickening at depth (see release dated
All additional Phase 1 targets (Cedro, Esbarro East,
Table 1: Phase 1 Drill Program Summary
TARGET |
DDHs |
METERS |
NOTES |
Trapia 1 |
9* |
1872.85* |
Assays received for first 5 DDHs, released |
Cedro |
4 |
364.40 |
Three separate targets drilled in mid-August; assays pending; Resource Expansion target |
|
2 |
347.10 |
Drilled in late August; Assays pending; New target - previously undrilled |
Esbarro East |
3 |
146.40 |
Drilled in late August; Assays pending; New target - previously undrilled |
|
4 |
199.60 |
Drilled in early September; Assays pending; Target advancement; previously drilled with mineralized intercepts |
C-04 |
3 |
252.90 |
Dilled in mid-September; Assays pending; New target - previously undrilled |
6 Targets |
21* DDH |
3,183* m |
*Includes 4 holes and 907.50 m from Trapia 1 ongoing drilling follow-up |
Phase 2 Drilling and Exploration Program Commences
Drilling has commenced for the Phase 2 drill program at Pedra Branca with the arrival of a second drill rig, which will serve to double productivity and expedite completion of ValOre's 2020 drill program. Both drill rigs will work in tandem to maximize efficiency, first completing follow-up drilling at Trapia 1, and then mobilizing to resource expansion targets Trapia 2 and
Metallurgical results from the on-going PLATSOL™ leaching testwork are expected within 2 weeks, with the study aimed at corroborating historical findings of this metallurgical processing technique at the Pedra Branca project.
Rhodium assay results from samples using historical Pedra Branca drill core pulps are also expected within 2 weeks. This study is aimed at broadening ValOre's understanding of the distribution and concentration of this valuable precious metal at the Pedra Branca project.
Trapia 1 North Trench Mapping and Sampling
Two historical trenches in the highly anomalous area north of the Trapia 1 resource have been mapped and sampled to better understand the geological environment and potential for a northern extension. Favorable easterly-dipping 10-12m intervals of ultramafic rocks were encountered towards the west end of both trenches, suggesting continuity of favorable geology north of the Trapia 1 resource area. A total of 187 samples were submitted for assay to SGS Vespasiano,
Pedra Branca 2020 Drill Program
Please see ValOre's news release from
· Pedra Branca 2020 Drill Program (Phase 1 and Phase 2)
· Quality Control/Quality Assurance ("QA/QC") and Grade Interval Reporting
· Analytical Procedures, SGS Geosol
· About Servitec Foraco Sondagem SA
· ValOre and Servitec Foraco COVID-19 Protocols
http://valoremetals.com/news-media/news-releases/2020/
About ValOre Metals Corp.
ValOre Metals Corp. (TSX‐V: VO) is a Canadian company with a portfolio of high‐quality exploration projects. ValOre's team aims to deploy capital and knowledge on projects which benefit from substantial prior investment by previous owners, existence of high-value mineralization on a large scale, and the possibility of adding tangible value through exploration, process improvement, and innovation.
In
The Pedra Branca PGE Project comprises 38 exploration licenses covering a total area of 38,940 hectares (96,223 acres) in northeastern
Comprehensive exploration programs have demonstrated the "District Scale" potential of ValOre's Angilak Property in Nunavut Territory,
ValOre's team has forged strong relationships with sophisticated resource sector investors and partner Nunavut Tunngavik Inc. (NTI) on both the Angilak and Baffin Gold Properties. ValOre was the first company to sign a comprehensive agreement to explore for uranium on Inuit Owned Lands in Nunavut Territory and is committed to building shareholder value while adhering to high levels of environmental and safety standards and proactive local community engagement.
The technical information in this news release has been prepared in accordance with Canadian regulatory requirements set out in NI 43-101 and reviewed and approved by
On behalf of the Board of Directors,
"
ValOre Metals Corp.
For further information about, ValOre Metals Corp. or this news release, please visit our website at valoremetals.com or contact Investor Relations toll free at 1.888.331.2269, at 604.646.4527, or by email at contact@valoremetals.com.
ValOre Metals Corp. is a proud member of Discovery Group. For more information please visit: discoverygroup.ca
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This news release contains "forward-looking statements" within the meaning of applicable securities laws. Although ValOre believes that the expectations reflected in its forward-looking statements are reasonable, such statements have been based on factors and assumptions concerning future events that may prove to be inaccurate. These factors and assumptions are based upon currently available information to ValOre. Such statements are subject to known and unknown risks, uncertainties and other factors that could influence actual results or events and cause actual results or events to differ materially from those stated, anticipated or implied in the forward-looking statements. A number of important factors including those set forth in other public filings could cause actual outcomes and results to differ materially from those expressed in these forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include the future operations of ValOre and economic factors. Readers are cautioned to not place undue reliance on forward-looking statements. The statements in this press release are made as of the date of this release and, except as required by applicable law, ValOre does not undertake any obligation to publicly update or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise. ValOre undertakes no obligation to comment on analyses, expectations or statements made by third parties in respect of ValOre, or its financial or operating results or (as applicable), their securities.
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 |
|
Tel: +44 (0) 20 7317 6629 |
|
|
|
Strand Hanson Limited (Nominated & Financial Adviser) |
|
Tel: +44 (0)20 7409 3494 |
|
|
|
Brandon Hill Capital (Broker) |
|
Tel: +44 (0)20 3463 5000 |
|
|
|
St Brides Partners Ltd (Financial PR) |
|
Tel: +44 (0)20 7236 1177 |
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of...
FOR OUR FULL DISCLAIMER CLICK HERE