Jangada doubles Jorc resource at Pedra Branca
The share price of Jangada Mines rose sharply on Monday morning, after the company announced an upgrade of 117% to its 2012 Joint-Ore Reserves Committee- (Jorc-) compliant resource, which, in turn, meant a substantial increase in the size and categorisation of the resource at the company’s Pedra Branca platinum group metals (PGMs) project, in north-eastern Brazil.
Following the upgrade, Jorc-classified ore at the project stands at 74.8-million tonnes.
The resource upgrade also includes a 64% increase in the indicated category resources to 29.3-million tonnes, as well as a 174% increase in the inferred category resources to more than 37-million tonnes.
A 103% increase in palladium-equivalent resource to more than three-million ounces was further derived from a 48% increase in PGMs and gold resources to 2.17-million ounces, and a 104% increase in base metals content to 362.5-million pounds, which the company attributed to newly discovered nickel sulphide resources.
The nickel sulphide resource includes 298-million pounds of nickel, 49.5-million pounds of copper and 15-million pounds of cobalt.
Further, the verification phase of the fully-funded bankable feasibility study (BFS) is on track for completion by the end of the first quarter this year, the company confirmed.
According to Jangada executive chairperson Brian McMaster, the BFS work has identified significant increases in grade and classification that will help form inputs into the BFS model.
“The increase in resource size will potentially drive a longer mine life and higher annual tonnage, all of which are positive developments,” he added.
Jangada’s shares opened 19% higher on the London exchange on Monday at 2.22p each, from Friday’s closing price of 2.10p a share.
Comments
The
content
you are trying to access is only available to subscribers.
If you are already a subscriber, you can Login Here.
If you are not a subscriber, you can subscribe now, by selecting one of the below options.
For more information or assistance, please contact us at subscriptions@creamermedia.co.za.
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation