Paranaíta Drill Results

Jangada Mines

13/03/2026 07:00

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 2nd 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, 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
James Spinney
Harry Hiley
Strand Hanson Limited
Nominated & Financial Adviser
Tel: +44 (0)20 7409 3494
Jonathan Evans
Tavira Financial Ltd
Broker
Tel: +44 (0)20 7100 5100

 

 

 

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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