Jangada Mines plc (“Jangada” or “the Company”), a natural resources company, is pleased to announce the Brazilian National Mining Agency (ANM – Agência Nacional de Mineraço) has granted a trial mining license (“Guia de Utilizaço”, 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 Utilizaço, 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.
