Jangada Mines PLC (AIM: JAN) has reported that proprietary technology tests conducted on ore from its Pitombeiras project in Brazil have demonstrated the potential for extraction of high-grade titanium dioxide (TiO2) and vanadium pentoxide (V2O5) at a lower cost.
The company commissioned Zambian consulting firm YCS Sustainable Solutions to carry out the tests using sustainable technology developed by Fodere Titanium, in which Jangada holds a 7.7% stake.
Five samples from different locations at Pitombeiras were processed, with “preliminary test works” indicating a good concentration of Fe2O3, TiO2 and V2O5, and “excellent recovery and purity rates reported.”
Jangada is preparing 25 tonnes of material for further testing, which will provide detailed economics for a Preliminary Economic Assessment (PEA) focused on the extraction of TiO2 and V2O5 using this technology.
A Pitombeiras economic study last year indicated a post-tax net present value of US$96.5 million, but Jangada believes that using the new technology will increase the value of the project. The successful extraction is expected to attract development partners.
Brian McMaster, Executive Chairman of Jangada said, “Fodere’s successful extraction of high-grade vanadium and titanium from material from the Pitombeiras project utilising cost-efficient environmentally sound technologies is a major boost to Jangada. Furthermore, the adaptation of its technology to process mined material rather than focus on waste materials offers increased potential for its business; as shareholders in Fodere and holders of its IP rights for South America, this is a very exciting development.
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