TIDMJAN
RNS Number : 8295H
Jangada Mines PLC
06 August 2021
To view the announcement with the illustrative images please use
the following link:
http://www.rns-pdf.londonstockexchange.com/rns/8295H_1-2021-8-6.pdf
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
6 August 2021
Jangada Mines plc
Positive Metallurgical Pilot Scale Test Results Support the
Development of the Pitombeiras Ferrovanadium Project to
Production
Jangada Mines plc ("Jangada" or "the Company"), a natural
resources company, is pleased to announce positive bench and pilot
scale metallurgical test results on ferrovanadium-bearing
titanomagnetite samples from the Company's 100%-owned Pitombeiras
Ferrovanadium ("FeV") Project. The pilot scale metallurgical tests
have been conducted at Brazil's most prestigious and established
mineral and metallurgy institute, Fundação Gorceix, located in Ouro
Preto, Minas Gerais, Brazil. With over 80 years of experience,
particularly working with major iron ore companies, Fundação
Gorceix is an ISO 9001:2008 accredited Institution and independent
of Jangada Mines plc.
The bench and pilot scale test works yielded excellent results
through magnetic separation using dry and wet concentration routes
to produce a ferrovanadium-rich concentrate, supporting the
operation for a saleable FeV-rich magnetite concentrate containing
a minimum of 62% Fe and additional credit from 1.2% contained V(2)
O(5.)
Highlights
-- Pilot plant scale metallurgical tests have confirmed that the
magnetite responded very well to wet magnetic separation,
generating mass recoveries of 52.6% for oxidized ore material,
41.8% for transition ore material and 53.1% for fresh rock
-- Metallurgical recoveries varied from 58.8% to 73.0% Fe and
70.5% to 87.55% V(2) O(5) , with low SiO(2) and Al(2) O(3)
content
-- High-grade nature of Fe material associated with prevailing
Fe international benchmark prices (IODEX62%) and premiums paid
above Fe 62%, makes Jangada's potential concentrate product highly
attractive, which could lead to a highly economical operation
-- Favourable results to be incorporated into ongoing Definitive
Feasibility Study ('DFS'), expected to be completed in Q3 2021
-- Results support continued development of Pitombeiras project to production
Brian McMaster, Chairman of Jangada, said: "Today's announcement
represents a further exciting step forward in the development of
Pitombeiras. The metallurgical tests performed on a pilot plant
scale are highly encouraging and confirm that Jangada is on the
right path of project development. The quality of our FeV product
associated with prevailing iron ore prices, should highly benefit
the Pitombeiras Project's economics and we are in fast-track mode
towards our objective to become a producer in H1 2022. These
metallurgical test results, along with recently reported upsized
mineral resources estimates, are now being incorporated into the
ongoing Definitive Feasibility Study; meanwhile , the team has been
working on quoting capex and opex with already identified
suppliers. The favourable results also provide us with the
necessary information to further advance the negotiations with
potential traders and possible local buyers. It has been a busy
time at Jangada and we are very excited to share developments as
they unfold."
Further Information:
Jangada collected volumetric samples from surface outcrops and
executed one twin drill hole for bench and pilot scale
metallurgical testworks, which have been conducted in three
laboratories, including: 1) Fundação Gorceix (based in Ouro Preto,
Minas Gerais - Brazilian's iron ore reference laboratory); 2) Metso
Brasil Indústria e Comércio Ltda (based in Sorocaba, SP-Brazil) and
3) Motta de Lafões Geologia (based in Belo Horizonte, MG-Brazil).
Petrographic and mineralogical studies have also been completed to
support the metallurgical testworks.
The metallurgical tests commissioned by Jangada have processed
ore materials from the Pitombeiras project in bench and pilot plant
scale using dry and wet magnetic routes. It has been demonstrated
that the ferrovanadium-bearing magnetite rocks respond quite
positively to wet magnetic separation after being classified,
milled, and concentrated to < 0.2mm granulometry.
Considering the weathering/oxidation nature of the Pitombeiras
FeV mineralization, three different types of rock materials have
been tested: the Oxidized surficial material, the Transition zone
and the Fresh rock. The mass recovery in pilot plant scale of the
magnetic fractions from these three materials were 52.6%, 41.8% and
53.1%, respectively, yielding metallurgical recoveries varying from
58.8% to 73.0% Fe and 70.5% to 87.55% V(2) O(5) .
Table 1: Pilot Plant Metallurgical Tests Results
Sample Mass Grade (%) Metallurgical
Recovery Recovery (%)
-------------------------------------
Fe % SiO(2) Al(2) MgO V(2) Fe % V (2)
% O(3) % O(5) O (5)
(%) % % %
------ ------- ------ ---- ------ ------- -------
Oxidized 52.6 66.00 0.8 1.6 0.4 1.30 63.80 70.50
------------ --------- ------ ------- ------ ---- ------ ------- -------
Transition 41.8 63.60 2.2 2.0 0.7 1.30 58.80 74.00
------------ --------- ------ ------- ------ ---- ------ ------- -------
Fresh
(*) 53.1 63.30 2.6 2.4 1.1 1.20 73.00 87.50
(*) Fresh ore was submitted to a cleaner stage
Figure 1: FeV-rich magnetite concentrate (left) and
magnetite-poor reject (right) from Pitombeiras' metallurgical test
on a fresh rock material.
The high-grade nature of Pitombeiras Fe material associated with
prevailing Fe international benchmark prices (IODEX 62%Fe CFR
China) and premiums paid above Fe62%, makes Jangada's potential
concentrate product highly attractive, which could drive a highly
economical operation. The results also establish that the magnetic
recoveries produce a low SiO(2) and low Al(2) O(3) product, which
is highly sought after as well.
A pilot operation under the trial mining licence 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 and wet magnetic concentration.
Competent Person Statement
The technical information in this announcement has been reviewed
by Mr. Paulo Ilidio de Brito, who is a member of the Australian
Institute of Geoscientists (MAIG #5173) and a member of AusIMM -
The Australasian Institute of Mining and Metallurgy (MAusIMM
#223453). Mr. Brito is a senior professional geologist with +35
years of experience in the mining industry, which is relevant to
the style of mineralisation and type of deposit under consideration
and to the activity which he has undertaken to qualify as a
Competent Person as defined in the 2012 edition of the JORC Code.
Mr. Brito also meets the requirements of a competent person under
the AIM Note for Mining, Oil and Gas Companies. Mr. Brito has no
economic, financial or pecuniary interest in the Company and he
consents to the inclusion in this document of the matters based on
his technical information in the form and context in which it
appears.
The Metallurgical Tests presented in this announcement is the
responsibility of Mr. Marcos Goossens, Senior Manager, Metallurgy.
and a Qualified Person as defined by NI 43-101 guidelines. Mr.
Goossens has over 40 years of multi-disciplined mining experience,
with expertise on mining processing, metallurgy, product
development and quality acquired from key roles on small to major
iron ore operations, among other minerals.
ENDS
For further information please visit www.jangadamines.com or
contact:
Jangada Mines plc Brian McMaster (Chairman) Tel: +44 (0) 20
7317 6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
(Nominated & Financial Ritchie Balmer 3494
Adviser)
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Isabel de Salis Tel: +44 (0)20 7236
Ltd 1177
(Financial PR)
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