REG - Jangada Mines PLC - Commencement of Gold Exploration at Paranaíta

Jangada MinesAnnouncement

03/09/2025 07:00

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RNS Number : 7358X  Jangada Mines PLC  03 September 2025

Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector: Mining

3 September 2025

Jangada Mines plc ('Jangada')

 

Commencement of Exploration at Paranaíta Gold Project

 

Targeting initial 350k oz gold at 2 of the 6 priority open pit targets

 

Jangada Mines Plc (AIM: JAN), a Brazil focussed natural resource development
company, is pleased to announce that exploration work has now commenced at the
highly prospective 7,211-hectare Paranaíta Gold Project ("Paranaíta" or the
"Project"), located in Brazil's historically significant Alta Floresta-Juruena
Gold Province following the recent capital raise.

 

HIGHLIGHTS

·    Exploration launched: Fully funded programme underway at Paranaíta
to validate the existing 210.000 oz gold ("Au") and targeted expansion to
~350,000 oz Au, under JORC reporting.

·    Fast-track PEA: Targeting delivery within six months of a PEA for a
high-grade, open-pit operation producing ~20,000 oz Au/year.

·    High-grade focus: Priority targets TP02 (c.106,600 oz @ 16.65 g/t Au)
and TP3.2 (c.34,600 oz @ 1.35 g/t Au) underpin near-term growth.

·    Strong prospectivity: 8 km mineralised corridor with 15+ high-grade
gold occurrences; historical sampling up to 135 g/t Au.

·    Active work programme: Trenching, 1,800 m RC drilling, surveys, and
assays underway with results expected in coming weeks.

·    Clear path to development: Open-pittable potential with licences in
good standing and strong regional operating environment.

 

Jangada's newly appointed CEO, Paulo Misk, commented: "With operatorship now
in our hands and fully funded, we have hit the ground running at the
Paranaíta Gold Project. We have launched a focused exploration programme
targeting two of the high-grade, open-pittable zones already identified, with
the immediate goal of delivering a Preliminary Economic Assessment for a
c.20,000 ounce-per-year operation.

 

"My recent site visit has reinforced my confidence in the Project's potential.
Over the coming months, investors can expect a steady stream of updates as we
progress development. Having worked across many major projects in Brazil, I
fully appreciate the scale of the opportunity here, both in Paranaíta and the
wider Mato Grosso region. This is the first step in building a major,
Brazil-focused gold producer, and I am excited to advance the project. I look
forward to leveraging my experience and network to scale Jangada and create
long-term value for all stakeholders."

 

DETAILS

Jangada has commenced an exploration programme at Paranaíta, where it aims to
validate the existing gold resource of approximately 210,000 ounces ('oz')
gold ('Au'), currently classified under the Brazilian Comissão Brasileira de
Recursos e Reservas (CBRR) standards, and expand it to around 350,000 oz Au,
under JORC standards. The Company's objective is to deliver a Preliminary
Economic Assessment ('PEA') within six months, targeting a high-grade,
open-pit gold operation producing 20,000 ounces of gold per year.

 

Paranaíta sits on an 8 km east-west mineralised corridor hosting at least 15
high-grade gold occurrences. Current resources total approximately 210,000 oz
Au at 3.165 g/t, with TP02 and TP3.2 among six priority zones for near-term
open-pit development. TP02 contains 199,090 tonnes at 16.65 g/t Au for 106,600
oz Au, while TP3.2 contains 794,650 tonnes at 1.35 g/t Au for 34,588 oz Au,
providing a strong platform for growth.

 

 

 

Following the recent site visit, Jangada's technical team has reviewed a
substantial body of historic exploration data, valued at approximately US$2
million, allowing refinement of a new fully funded exploration programme. The
work programme includes:

 

·    31 trenches of 100 metres each (3,100m total), with 24 scheduled for
completion by the end of September 2025.

·    An 1,800-metre reverse circulation (RC) drilling campaign, focused on
TP02, commencing in October 2025 and lasting ten weeks.

·    Topographic and geophysical surveys, as well as chemical analysis of
over 600 historic samples, with 10% subject to QAQC verification.

·    Ongoing collection of grab samples, with assay results expected
within the next four to five weeks.

 

 

Visible Gold from grab samples from recent site visit

 

The exploration licences are in good standing and will be upgraded to
development and production status upon completion of the PEA. The region
already hosts a number of producing operations, and the Board sees no
impediment to the advancement of the Project.

 

The exploration programme has been based on significant historical data which
has underscored the strong prospectivity of Paranaíta. Sampling returned
robust results, with mineralisation hosted both in quartz veins and as
disseminated gold within altered biotite granite. Of 66 samples tested, 31
assayed above 1.0 g/t Au and 16 above 10.0 g/t Au, with the highest returning
135 g/t Au.

 

Drilling results from previous programmes also highlight the Project's
potential. At the East Traira target, hole ETR_DDH01 intersected 5.0 metres at
5.48 g/t Au, including 1.0 metre at 18.81 g/t Au and 3.0 metres at 8.77 g/t
Au. Historical trenching has returned equally encouraging results, including
3.8 metres at 12.5 g/t Au and 2.1 metres at 19.3 g/t Au. Paranaíta is
considered to be open-pittable, with six high-priority zones already
identified, and is underlain by a porphyry-epithermal magmatic-hydrothermal
system, offering significant geological upside.

 

ENDS

 

For further information please visit www.jangadamines.com
(http://www.jangadamines.com/)  or contact:

 

 Jangada Mines plc                     Brian McMaster (Chairman)  Tel: +44 (0)20 7317 6629
 Strand Hanson Limited                 Ritchie Balmer             Tel: +44 (0)20 7409 3494

 (Nominated & Financial Adviser)       James Spinney

                                       David Asquith
 Tavira Financial Ltd                  Jonathan Evans             Tel: +44 (0)20 7100 5100

 (Broker)
 Investor Relations                    Hugo de Salis              hugo@lepanto.co.uk

 

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulation
(EU) No. 596/2014 as it forms part of United Kingdom domestic law by virtue of
the European Union (Withdrawal) Act 2018, as amended by virtue of the Market
Abuse (Amendment) (EU Exit) Regulations 2019.

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