REG - Jangada Mines PLC - Drilling Commenced at Molly Gold Project in Brazil

Jangada MinesAnnouncement

16/02/2026 10:30

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RNS Number : 1762T  Jangada Mines PLC  16 February 2026

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

16 February 2026

Jangada Mines plc ('Jangada' or 'the Company')

 

Drilling Commenced at Molly Gold Project in Brazil

 

Building a resource in a premium gold district

 

Jangada Mines Plc (AIM: JAN), a Brazil focused natural resource development
company, is pleased to announce that the first stage of its fully funded
2,000m drilling programme at the Molly Gold Project ('Molly' or 'the Project')
located in the Tapajós region of Pará State, Brazil has commenced.

 

Highlights:

·    2,000m drilling campaign commenced utilising three rigs and five
crews

·    Programme includes diamond drilling to:

o  confirm historical data

o  confirm the westward continuity of the Molly 1 quartz vein

o  test potential continuity to the east

o  explore beneath the known vein exposure

·    Shallow nature of the mineralisation means planned hole depths
ranging from a minimum of 150m to a maximum of 200m

·    Molly 1 target has a JORC inferred resource of 130,000 oz Au -
drilling aims at expanding resource and known mineralised corridor and
identifying further primary gold occurrence beyond extensive alluvial
occurrences

 

Jangada Mines CEO Paulo Misk said, "We are delighted to have commenced the
initial 2,000m diamond drilling programme at the high grade, shallow Molly
Gold Project. The existing drill data, with grades including 6.5m at 10.5 g/t
and 1m at 200 g/t, excellent geophysical signatures and  approximately 300
hectares of alluvial excavation, provide us with high confidence that we
either are targeting a substantial gold-bearing vein system that lies beneath
the alluvial workings, or a complex network of mineralised veins exists within
the adjacent higher-elevation terrain.

 

"The initial campaign is focussed on the Molly 1 target, confirming existing
and identifying additional vein structures, as well as understanding multiple
extensions to the east and west. With five drill crews and three rigs being
utilised, secured quickly through the Board's operational network, means that
we will quickly understand the direction the programme needs to develop to
execute our obligations for the acquisition.  We look forward to updating the
market as soon as practicable on the programme and understanding what we
believe to be the excellent potential of the Molly Gold Project."

 

Details:

 

Molly already has outstanding high-grade intercepts from historic drilling,
including 6.5m at 10.5 g/t and 1m at 200 g/t, and an initial JORC resource of
130,000 ounces of gold.  A three-dimensional geological and mineralisation
model already shows that gold mineralisation extends from near surface to
depths of approximately 150m over a strike length of around 400m at the Molly
1 target and geophysical data indicates that the identified mineralisation,
where the initial resource is located, represents only part of a much larger
system, with a well-defined structural corridor extending more than 500m to
the west and potentially to the east. This highlights strong potential for
significant resource expansion through exploration.

 

The short-term drilling strategy, comprising approximately 2,000m of drilling
through to April 2026. This programme includes diamond drilling to confirm
historical data, drilling to confirm the westward continuity of the Molly 1
quartz vein, and selected holes to test potential continuity to the east,
approximately 2km beyond the existing garimpeiro excavations, as well as
limited deeper drilling beneath the known vein exposure.

 

Five drilling teams and three drill rigs will be utilised to drill the Molly 1
target and adjacent areas. The proposed drill plan comprises three drill
positions for a total of an initial five holes. These are designed at dip
angles of 50° and 65°, for approximately 900 metres of drilling, with
planned hole depths ranging from a minimum of 150m to a maximum of 200m.

 

 

Once initial drill holes are executed and tested and geological surveys are
completed, the remaining 1,100m programme will be finalised.

 

Additionally new target opportunities are being generated. A regional
exploration team is being assembled to conduct detailed structural mapping in
the north-central portion of the mineral right, in the area named Boomerang,
which was the site of intense artisanal mining activity in previous years. The
extensive alluvial area (Boomerang) indicates that the primary sources are
proximal and located within the mineral concession area, allowing a
preliminary interpretation of shallow mineralized veins, which will be
verified through regional exploration.

 

The medium-term drilling strategy, targeting a further 2,500 metres through to
December 2026, aims to define new targets and expand resources. This includes
detailed mapping across the entire mineral right, particularly focusing on
higher-elevation areas, systematic evaluation of the 300 hectares of alluvium
to identify underlying quartz vein structures, trenching along the projected
continuity of the Molly 1 vein and newly identified quartz veins, and
assessment of geophysical and geochemical methods to improve targeting and
identify additional mineralised structures.

 

Please refer to the Company's 9 February 2026 RNS for further details on the
Molly gold project potential acquisition.

 

**ENDS**

 

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

 

 Hugo de Salis   Jangada Mines plc                   hugo@lepanto.co.uk

 Ritchie Balmer  Strand Hanson Limited               Tel: +44 (0)20 7409 3494

 James Spinney   Nominated & Financial Adviser

 Harry Hiley
 Jonathan Evans  Tavira Financial Ltd                Tel: +44 (0)20 7100 5100

                 Broker

 

About Jangada Mines Plc

Jangada is a natural resource development company listed on AIM of the London
Stock Exchange (AIM:JAN) with assets in Brazil. It is led by a team with deep
industry, financial and in-country experience, and has a dual growth strategy
to:

•           Advance its portfolio projects including the
high-grade Molly Gold Project (over which the Company is currently earning
into an option to acquire), the Paranaíta Gold Project and the 100%-owned
Pitombeiras vanadium titanomagnetite Project

•           Utilise its proven in-country and geological expertise
to identify/acquire additional projects that it can rapidly advance to build
value for shareholders.

 

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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