REG - Jangada Mines PLC - Molly Gold Project, Brazil - Drilling Update

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RNS Number : 8566F  Jangada Mines PLC  27 May 2026

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

27 May 2026

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

 

Molly Gold Project, Brazil - Drilling Update

 

High-grade gold intersections confirm multi-target polymetallic discovery

 

Jangada Mines plc (AIM: JAN), a Brazil-focused natural resources company, is
pleased to provide an update from its ongoing exploration programme at its
Molly Gold Project ("Molly" or the "Molly Project") in Brazil, including
high-grade drill results.

 

OVERVIEW

·   Molly 1 - High-Grade Gold Confirmed: Drill holes 3A and 3B intercept
significant gold, silver and copper mineralisation, confirming eastward
continuity toward the East Pot sector

·    Hole 3A returns exceptional high-grade intersections including:

o  20.70 g/t Au, 0.58% Cu and 6.30 g/t Ag from 124.47m over 0.5m and,

o  11.50 g/t Au, 21.30 g/t Ag and 0.47% Cu from 103.32m over 0.58m and,

o  5.75 g/t Au, >1.0% Cu and 9.00 g/t Ag from 131.05m over 0.50m.

·    Molly 2 - Discovery Confirmed: Maiden Discovery Hole 7A demonstrates
previously undrilled deposit related to the Molly 1 system, open toward the
Vivi target westward, with 3.11 g/t Au, 30.4 g/t Ag and 0.13% Cu from 71.75m
over 0.87m

·    Expanding Gold Corridor: Results reinforce a structurally controlled,
laterally continuous polymetallic corridor encompassing gold, silver, copper,
zinc and lead at both advanced targets

·    Open on Multiple Fronts: Both Molly 1 (east) and Molly 2 (west toward
Vivi) remain open along strike and down dip, supporting a significant resource
expansion programme

·    Proven Geological Setting: Results and historic data confirm that the
Molly geology is characterised as high grade shallow narrow vein structures
that are comparable to other producing projects in the Tapajós Gold Belt

·   Additional results awaited: While the initial targeted deadline for
completion of Phase 1 has been delayed significantly, due to an exceptional
lab backlog and logistics, new procedures are now in place aimed at improving
turnaround from drilling. Full results from the initial drill campaign will be
reported when all are back from testing.

 

Jangada Chief Executive, Paulo Misk, said: "These results are genuinely
exciting. The Molly Gold Project is rapidly evolving into one of the most
compelling gold-polymetallic discoveries in Brazil, with high-grade intercepts
across two advanced targets that both remain open along strike. Molly is very
typical of the thin high-grade vein projects that are in production across the
Tapajós Gold Belt. These thin high-grade veins and grade variance are
symptomatic of the regional geology and are in line with and complement the
existing high grade historic drill results.

 

"We are moving swiftly to expand drilling at Molly 1's East Pot sector and to
advance the Molly 2 Vivi Corridor, where we believe the true scale of this
system is yet to be revealed. We are also looking at the wider potential of
the licence including the extensive Boomerang structure which has kilometres
of artisanal alluvial workings and which we believe overlays a significant
hard rock source structure or is from the surrounding elevated areas, also on
the licence. Jangada Gold is at an inflection point, and I look forward to the
next stages of the funded exploration plan."

 

DETAILS

Molly 1 Deposit - High-Grade Continuity Confirmed Eastward

Drill holes 3A and 3B at the Molly 1 deposit have confirmed historical drill
results and the lateral continuity of high-grade polymetallic mineralisation
extending eastward from the central Molly 1 zone toward the East Pot sector.
This represents a significant step forward in the understanding of the ore
bodies geometry and resource size potential.

 

The historically defined mineral resource delineated a strike length of c.
300m with holes 3A and 3B now extending the mineralised envelope by an
additional 100-150m. The results demonstrate that the mineralised system
remains open along strike, reinforcing the geological interpretation of a
structurally controlled and laterally persistent ore body. The recurrence of
sulphide-rich intervals, carrying gold, silver, copper, zinc and lead,
indicates that the East Pot area may represent a material extension of the
Molly 1 mineralised corridor, with the potential for additional high-grade
shoots and localised zones of enhanced metal concentration.

 

Crucially, holes 3A and 3B reveal that mineralising fluids remained active
across a broader structural framework than previously modelled. This enhances
the exploration upside of the eastern portion of the system and underpins the
Company's plans to advance additional drilling to delineate the full extent,
geometry, and grade variability of the mineralised zones.

 

Molly 1 - Drill Results Summary

 

 Hole ID  From (m)  To (m)  Width (m)  Au(g/t)   Ag (g/t) / Cu (%)
 3A       103.32    103.90  0.58       11.50 Au  21.30 Ag, 0.47% Cu
 3A       124.47    124.97  0.50       20.70 Au  6.30 Ag, 0.58% Cu
 3A       131.05    160.00  0.50       5.75 Au   9.00 Ag, >1.0% Cu
 3B       118.47    119.13  0.66       2.87 Au   6.20 Ag, 0.36% Cu
 3B       126.93    127.82  0.89       2.29 Au   1.60 Ag

 

Note: Widths represent drilled core lengths and do not represent true widths.
All assays are uncut.

 

 

Molly 2 Advanced Target - New Discovery Confirmed with Mineralisation Open to
the Western Vivi Target

 

The Molly 2 advanced target continues to deliver compelling results, with hole
7A demonstrating the persistence of high-grade polymetallic mineralisation
along the western strike extension toward the Vivi target area. Gold, silver,
copper, zinc and lead grades remain elevated, and the spatial continuity of
sulphide-rich horizons and structurally controlled mineralised zones strongly
supports the interpretation of a regionally significant polymetallic corridor.

 

The continuity of quartz veins carrying sulphide mineralisation toward Vivi,
combined with the recurrence of hydrothermal alteration and brecciation,
indicates that Molly 2 and the Vivi target may be connected through the same
mineralising event and structural architecture. Additional mineralised shoots
and zones of enhanced metal concentration are likely to exist in the
intervening and western sectors, which remain largely untested.

 

These results substantially increase the prospectivity of the Molly 2; Vivi
trend and provide a compelling rationale for the advancement of further
drilling, trenching, structural interpretation, and integrated geophysical and
geochemical surveys aimed at delineating the full extent and economic
significance of this mineralised system. The high-grade shallow intersections
are symptomatic of other producing entities in the region.

 

Importantly, the Molly 2 results support the historical geophysical
interpretation of systemic mineralisation associated with Molly 1. The
geophysical and surface mapping data indicates that the Molly 2 strike length
to be at least as extensive as Molly 1 while remaining open toward the west
and down dip. This elucidates the potential to materially increase the mineral
resources at the Molly tenement in the short term with continued growth
potential as the strike and dip continuations are followed.

 

Molly 2 - Drill Results Summary

 

 Hole ID     From (m)  To (m)  Width (m)  AU (g/t)  Other Metals
 7A          71.75     72.62   0.87       3.11 Au   30.4 Ag, 0.13% Cu, 0.24% Pb
 7A          122.82    125.93  3.11       -         0.75% Pb, 0.14% Zn
 7A (incl.)  123.82    125.93  2.11       -         0.96% Pb

 

Note: Widths represent drilled core lengths and do not represent true widths.
All assays are uncut.

 

Existing and additional target areas plus drill and sample sites across Molly - extensive artisanal mining throughout the project area

 

About the Molly Polymetallic Project

Molly comprises two confirmed polymetallic mineralised deposits, Molly 1 and
Molly 2, characterised by heterogeneous metal grades and complex geochemical
signatures associated with significant anomalies of gold, silver, copper, zinc
and lead. The distribution and intensity of these anomalies demonstrate
notable spatial variability, reflecting the geological complexity of multiple
phases of hydrothermal alteration and metal enrichment recognised across the
target areas.

 

Both Molly 1 deposit and Molly 2 advanced target remain open along strike and
at depth, and their structural settings suggest meaningful potential for
resource growth as drilling advances. The Molly 1 - East Pot corridor and the
Molly 2 - Vivi trend, represent two separately compelling
exploration/development vectors within what is emerging as a district-scale
polymetallic system in Brazil.

 

The Project also hosts the Boomerang target area, a major historical placer
gold producing valley which indicates a major primary source of gold
mineralisation within the tenement-contained watershed.

 

Molly Geological Context

In order to fully understand the geological context of Molly, the Company has
done extensive analysis of regional geology and is pleased to provide the
following summary opinion.

 

The Molly tenement and related gold deposits form part of the Tapajós Gold
Belt. The Tapajós Gold Belt of northern Brazil is increasingly regarded by
many as one of the most geologically significant under-explored gold provinces
remaining globally. Although the region has produced enormous quantities of
gold through artisanal mining over the past five decades, systematic. modern
exploration only began comparatively recently. The comparison between
historical placer production and currently defined hard-rock resources remains
one of the most striking aspects of the province. Despite estimated artisanal
production of 20-30 million ounces, formal hard-rock resource inventories
across the belt remain comparatively modest relative to many mature gold camps
globally.

 

Modern interpretations increasingly compare Tapajós with globally important
mineral belts such as the Abitibi Greenstone Belt in Canada, portions of the
West African Craton, and parts of the Yilgarn Craton in Australia. The
province is notable not only for its size, but also for the diversity of
mineralisation styles identified within it, and is currently characterised by
medium tonnage, high-grade gold deposits.

 

The most important industrial-scale gold project currently operating in the
province is the Tocantinzinho mine operated by G Mining Ventures. The mine
Mineral Resource is estimated to contain 1.9 million Au in 48 Mt at 1.3 g/t.
Furthermore, Cabral Gold is advancing the Cuiu Cuiu Project with c.1 million
ounces Au resource at 1.1 g/t.

 

Another major operator in the region is Serabi Gold exploiting and developing
the Palito Mining Complex and the Coringa Project. The Palito Complex is an
underground mine characterised by narrow but high-grade quartz-sulphide veins.
Reserve grades are significantly higher than those at Tocantinzinho and
commonly range between approximately 5 and 10 g/t gold. Processing
incorporates gravity recovery, flotation and cyanidation. Serabi, with a
market cap of US$330m, has historically produced approximately 30,000 to
40,000 ounces of gold annually.

 

The Company believes that the local geology, mineralisation style and grade
profile at the Molly Project bears resemblance to those at Serabi gold,
underpinning the Directors' belief that Molly has the potential to materially
grow its high-grade vein hosted deposits into resources that could sustain
economic production.

 

Beyond these flagship projects, numerous junior exploration companies and
regional operators remain active across the belt. The district has
increasingly attracted interest from larger mining companies due to the
combination of demonstrated production, extensive artisanal workings,
improving infrastructure and the geological evidence for large-scale mineral
systems.

 

From a global mining perspective, Tapajós is simultaneously a historically
prolific gold-producing district and an emerging frontier exploration
province. Industrial mining development has only recently accelerated, modern
geological understanding continues to evolve rapidly, and large areas remain
minimally explored by contemporary standards. The combination of extensive
historical placer production, favourable Paleoproterozoic geology,
demonstrated million-ounce deposits, and multiple active producers
increasingly supports the view that Tapajós may ultimately emerge as one of
the world's major gold provinces over coming decades.

 

Next Steps for Molly

The Company has a defined funded development programme to further quantify the
resource potential of Molly. This includes:

·    Advance additional drill holes to extend the Molly 1 East Pot
mineralised corridor eastward and at depth.

·    Initiate follow-up drilling along the Molly 2 target in particular
the Vivi Corridor to test the western strike extension.

·    Commission integrated geophysical and geochemical surveys to refine
structural interpretation across both deposits.

·    Progress resource estimation work to underpin a preliminary economic
assessment.

·    Continue tenement-wide reconnaissance geological, geochemical and
geophysical work to drive discovery of source of substantial historical placer
mining within the Boomerang area.

 

QUALIFIED PERSON

The resource information in this announcement has been reviewed by Mr. Emerson
Ricardo Re who is a senior professional geologist with 25 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. Re also meets the requirements of a competent person under
the AIM Note for Mining, Oil and Gas Companies. Mr. Re 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.

 

INSIDE INFORMATION

This announcement contains inside information for the purposes of Article 7 of
EU Regulation 596/2014. Upon publication of this announcement, this inside
information is now considered to be in the public domain.

 

**ENDS**

 

For further information, please visit www.jangadamines.com, follow us on
social media, LinkedIn and X: @Jangada Mines Plc, or contact:

 

  Hugo de Salis   Jangada Mines plc                   info@jangadamines.com
 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 Mines Plc (AIM: JAN) is a natural resource development company 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, the Paranaíta Gold
Project and the 100%-owned Pitombeiras vanadium titanomagnetite Project; and
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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