REG - Jangada Mines PLC - Paranaíta Drill Results

Jangada MinesAnnouncement

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RNS Number : 5019W  Jangada Mines PLC  13 March 2026

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

13 March 2026

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

 

Paranaíta Drill Results

 

Gold mineralisation confirms prospectivity of Paranaita Gold Project

in Mato Grosso state, Brazil

 

Jangada Mines Plc, a Brazil focused natural resource development company, is
pleased to announce results from Stage 1 of its initial diamond drilling
programme at the Paranaíta Gold Project ('Paranaita' or 'the Project'),
located within the historically significant Alta Floresta-Juruena Gold
Province. Results from the 10-hole programme have reaffirmed the Company's
pre-drill interpretation of Paranaíta and provide a solid foundation to
develop a low-capex, open-pit, gold production project.

 

Overview:

·    1,100m, 10-hole programme completed, primarily targeting TP2, a 1.0
km NE-SW trending anomaly and one of six high potential targets identified

·    Gold mineralisation intersected in all holes at TP2, with a minimum
of 0.5 g/t Au

·    Best results include:

o  DDJG25-05: 1.32m @ 43.61g/t Au

o  DDJG25-02: 11.20m @ 0.83g/t Au including 0.85m @ 3.13g/t Au and 4.45m @
0.60 g/t Au

o  DDJG25-06: 0.41m @ 6.41g/t Au and 0.50m @ 0.81g/t Au

o  DDJG25-03: 0.60m @ 3.16g/t Au

o  DDJG25-07: 3.02m @ 0.86g/t Au including 1.00 @ 1.52g/t Au

·    Vein swarms identified providing high confidence in the Project's
prospectivity

·    High-grade gold intercept in hole DDJG25-05 confirmed the continuity
of mineralisation indicating that the system remains open along strike and at
depth.

·    ICP-MS analyses will be conducted on the available samples to further
investigate the presence of other metals, including copper (Cu).

·    Trenching and drill results are being evaluated to determine the next
steps for advancing the discovery.

·    Drill results combined with trenching will support a preliminary
resource modelling study to increase the existing 210,000 oz Au inferred
resource and guide the 2(nd) phase drill campaign.

 

Paulo Misk, Chief Executive Officer of Jangada, commented, "The results from
the diamond drilling programme at TP2 are very encouraging and confirm the
potential of Paranaíta. The new drilling results, together with existing
trenching data and geophysics, indicate extensive resource expansion potential
and reinforce our confidence in identifying an increased shallow resource
amenable to open pit mining. The interception of 1.32 metres grading 43.61 g/t
Au on the western section of TP2 represents an excellent result and increases
our enthusiasm to test adjacent areas, particularly as the mineralisation
remains open both laterally and at depth.

 

"We are now planning the next phase of drilling at TP2 and TP3.2 while
continuing to advance and develop additional exploration targets within
Paranaíta. We are also working to deliver an enhanced geological model, with
the aim of expanding the initial inferred mineral resource of 210,000 oz Au,
reporting it to JORC standards.

 

"On a wider level, work is progressing at the Molly Gold Project, with three
drill rigs currently in operation. Wide mineralised intersections have already
been identified, and we look forward to announcing a full update soon."

 

Paranaita Drill Programme:

The drill programme was primarily focused on expanding the current inferred
project resource of 210,000 oz Au @3.165 g/t, reported under the Brazilian
Comissão Brasileira de Recursos e Reservas standards, and classifying it to
JORC standards.  The targeted TP2 and TP3.2 zones are two of the six
previously identified high priority targets along an 8km mineralised corridor,
which has 15+ high-grade gold occurrences and historical sampling up to 135
g/t Au.

 

The first phase of a diamond drilling programme, designed to test the gold
mineralisation and further assess the exploration potential of the target
area, was completed in January 2026.  At the TP2 target, nine shallow diamond
drill holes were completed for a total of 977 metres. Hole depths ranged from
90 to 129.43 metres, with the longest hole reaching 129.43 metres.  At TP3.2
one hole was completed. Drilling activities were primarily focused on the TP2
target due to the availability of extensive historic data that came with the
Project acquisition, combined with results from the Company's own sampling and
trenching which intersected multiple mineralised intervals, as announced on
6th February 2026. When manually compiled and interpreted, this data confirmed
the presence of a continuous mineralised structure hosting gold mineralisation
extending for approximately 1km.

 

The drill campaign identified extensive vein systems that represent typical
geological structures in this gold rich region. The vein swarms are typical of
the regional geology and historically yield high-grade gold mineralisation.
With the mineralised system identified, the Company is now focusing on
understanding the gold distribution in order to define the potential of
delineating and open pittable shallow resource. The nature of the resource
means that grades in excess of 0.3 g/t Au represent economic potential due to
the shallow nature and low-cost production profile of such an operation. The
target remains to identify a resource capable of producing 20,000 oz Au per
annum.

 

 

At TP3.2, a 120 m diamond drillhole was completed as part of the planned
exploration programme for this target. However, following the encouraging
results obtained from trenching and reconnaissance soundings at Target TP2,
exploration priorities were reassessed, and subsequent efforts were redirected
toward the systematic evaluation of TP2.  This target will be evaluated
further when additional geophysics has been conducted.

 

TP2 returned positive results for gold mineralisation, with intercepts ranging
from anomalous to potentially economic grades. The main mineralised intercepts
are summarised in the table below.

 

 

 HOLE ID    FROM (m)  TO (m)  WIDTH (m)  GRADE (g/t Au)  ORE INTERCEPTION
 DDJG25-01  54.45     56.50   2.05       0.23            2.0m@0.23g/t Au
            62.15     62.59   0.44       0.66            0.44m@0.66g/t Au
 DDJG25-02  36.46     37.29   0.83       0.88            0.83m@0.88g/t Au
            53.50     57.95   4.45       0.60            4.45m@0.60g/t Au
            78.70     89.90   11.20      0.83            11.20m@0.83g/t Au
 DDJG25-03  78.90     79.50   0.60       3.16            0.6m@3.16g/t Au
 DDJG25-04  86.03     86.78   0.75       0.77            0.75m@0.77g/t Au
 DDJG25-05  111.13    112.45  1.32       43.62           1.32m@43.62g/t Au
 DDJG25-06  64.59     65.00   0.41       6.41            0.41m@6.41g/t Au
            81.83     82.33   0.50       0.81            0.50m@0.81g/t Au
 DDJG25-07  12.00     12.62   0.62       0.75            0.62m@0.75g/t Au
            52.30     53.24   0.94       0.59            0.94m@0.59g/t Au
            58.65     61.67   3.02       0.86            3.02m@0.86g/t Au
 DDJG25-08  96.87     97.12   0.25       0.41            0.25m@0.41g/t Au
            100.40    100.65  0.25       5.76            0.25m@5.76 g/t Au
            107.01    107.26  0.25       0.65            0.25m@0.65 g/t Au
            109.54    109.88  0.34       0.15            0.34m@0.15g/t Au
 DDJG25-10  58.25     60.25   2.00       0.50            2.00m@0.50 g/t Au

 

 

The mineralised interval from hole DDJG25-05, comprising 1.32 m grading 43.61
g/t Au, is illustrated in Photos 1,2 and 3 where intense sulphide
mineralisation, including pyrite and chalcopyrite, can be observed.

 

The vein is composed primarily of quartz, with a massive presence of
sulphides, pyrite, and chalcopyrite, in addition to sericite and chlorite.
Hydrothermal alterations are easily visible, identifying phyllic alteration
and silicification, both of high intensity with a pervasive style. Within the
vein, the presence of a foliation is perceptible, concentrating the sulphides
in a preferential direction.

 

Importantly, the ore vein is located exactly in the NE-SW trending shear zone
structure, which is the main structure of Target TP2 providing confidence that
the high-grade mineralised zone continues. Further drilling is being planned
adjacent to this mineralisation to confirm the lateral and depth continuity of
the high-grade mineralisation.

 

Next Step:

The geological team is now evaluating all the results received and planning
further exploration work.  The data received is being interpreted by our team
as well as external advisors who specialise in the vein swarm mineralisation
identified. As well as further drilling, the Company aims to evaluate
additional high-grade areas through further geochemical and geophysical
studies that have the potential to increase the resource where positive
historic results have been reported. These include the East Traira target,
which yielded 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. Paranaíta is considered to be open-pittable
and is underlain by a porphyry-epithermal magmatic-hydrothermal system,
offering significant geological upside.

 

The Molly Project:

At the Molly Project, 1,283 meters of diamond drilling has been completed
across seven drill holes primarily targeting the Molly 1 occurrence which
already has an inferred JORC resource of 130,000 oz Au. Excellent intercepts
of sulphide in quartz/granite, multiple narrow quartz veins and disseminated
sulphide have been logged which seem to confirm the lithology from previous
drilling, where grades reported included 6.5m at 10.5 g/t and 1m at 200 g/t.
The drill cores are currently undergoing geological logging and sampling, and
the collected samples will be sent to an external laboratory for analysis.

 

The 2,000m drilling programme will also include additional holes aimed at
testing the westward continuity of the Molly 1 target and intercepting the
Molly 2 quartz vein structure. Furthermore, geological mapping activities
conducted near the targets have identified new potentially mineralised
structures, where extensive historical artisanal mining workings are evident.

 

Qualified Person Signoff:

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.

 

For further information, please visit http://www.jangadamines.com
(http://www.jangadamines.com) , follow us on social media (LinkedIn and X:
@Jangada Mines Plc 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, 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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