Jangada Mines PLC Update re Pedra Branca Project (8897Y)
December 11 2017 - 2:00AM
UK Regulatory
TIDMJAN
RNS Number : 8897Y
Jangada Mines PLC
11 December 2017
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
11 December 2017
Jangada Mines plc ('Jangada' or the 'Company')
Local Government Approval for Pilot Production
at the Pedra Branca Platinum Group Metals Project
Jangada Mines plc, a natural resources company developing South
America's largest and most advanced platinum group metals ('PGM')
project, is pleased to announce that authorisation has been
received from the relevant Brazilian municipal government for pilot
scale production at its Pedra Branca Project in north-eastern
Brazil ('the Project').
The Company now intends to make an application to the Secretaria
do Meio Ambiente do Ceará ('SEMACE') and Departamento Nacional de
Produção Mineral ('DNPM') for a trial mining licence during Q1
2018. Before this application can be made, the Company is required
to receive municipal government approval, which has now been
received.
Brian McMaster, Executive Chairman of Jangada said, "This is a
significant milestone for the Company on its road to near-term
production. The local authorities (local, state and federal) in
Brazil have been very supportive of our development plans at the
Project and this formal approval underscores that. In light of our
recent progress and positive Scoping Study results (as announced on
31 October 2017), we look forward to the continued development of
the project including the conclusion of our Pre-feasibility Study
during Q1 2018."
This announcement contains inside information as defined in
Article 7 of the Market Abuse Regulation No 596/2014.
* ENDS *
For further information, please visit www.jangadamines.com or
contact:
Jangada Mines plc E: info@jangadamines.com
Strand Hanson Limited (Financial T: +44 (0)20 7409
& Nominated Adviser) 3494
James Spinney / Ritchie Balmer
/ Jack Botros
Beaufort Securities (Broker) T: +44 (0)20 7382
Jon Belliss 8300
St Brides Partners LTD (Financial T: +44 (0)20 7236
PR) 1177
Hugo de Salis / Olivia Vita
Notes to the Editors
Jangada Mines plc is focused on developing the Pedra Branca PGM
Project ('the Project'), one of the largest undeveloped PGM
projects outside of Africa, with the potential to supply a market
in long-term deficit. The Company is aiming to establish a low
cost, low capex open pit mine, with a target to produce 30,000
oz/annum by the end of 2018 from three existing mining licences
with mineralisation commencing at surface. The Project has a JORC
(2012) Compliant Resource of approximately 1 million ounces of
PGM+Au at a grade of 1.3 g/t, 109Mlbs of Ni, 23Mlbs of Cu, 6.4Mlbs
of Co and 670kt of Cr. Circa 52% of this is contained within
current mining licences and is considered a low development risk
due to previous exploration work totalling + US$35 million.
Additionally, the Company owns a further 44 exploration licences
spanning 55,000 hectares, which have significant upside potential
for PGM, nickel, copper, chrome, rhodium, gold, and vanadium. The
team has a wealth of experience, not only of the Project but of
mining in South America across a range of commodities.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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