Jangada Mines PLC Social, Legal and Environmental Review Completed (7873Y)
May 13 2019 - 2:36AM
UK Regulatory
TIDMJAN
RNS Number : 7873Y
Jangada Mines PLC
13 May 2019
Jangada Mines plc / EPIC: JAN.L / Market: AIM / Sector:
Mining
13 May 2019
Jangada Mines plc ('Jangada' or the 'Company')
Completion of Social, Legal and Environmental Review
as Bankable Feasibility Study Nears Completion
Jangada Mines plc, a natural resources company developing the
Pedra Branca project, South America's largest and most advanced
platinum group metals ('PGM') and nickel project (the "Project"),
and the Ptombeiras West vanadium project, is pleased to provide an
update on the bankable feasibility study ('BFS') that is nearing
completion at the Project in north-eastern Brazil.
Highlights
-- On track with completion of BFS to confirm the technical and
economic viability of the Project
-- Completed verification of the environmental, legal and social components of the BFS
o No environmental, legal and social risks that could impact
development identified
-- Verification of the metallurgy component of the BFS underway
and close to completion, following which, the final mine design
process can commence
Brian McMaster, Executive Chairman of Jangada said, "The
delivery of a combined BFS for the PGM and nickel assets to further
confirm Pedra Branca's technical and economic viability will
represent a significant milestone in the development of the
Project, and we are delighted that we are close to achieving this.
The assessment of relevant environmental, legal and social factors
is a key consideration and it is reassuring that no red flags have
been identified in this process or in the earlier work completed
for the environmental licence application that we were awarded in
October 2018.
"The findings from this verification stage of the BFS, across
all the various components, have consistently demonstrated both the
potential and the feasibility of the Project"
Further Information
The Company is close to completing a BFS at its 48,000 hectare
Pedra Branca PGM-nickel project, which has a JORC (2012) Compliant
Resource of 2.2 million oz of PGM+Au, 298 Mlb of nickel, 50 Mlb of
copper and 15 Mlb of cobalt.
The Company is currently focused on the initial verification
phase of the BFS, which on completion will enable the Company to
move towards the mine design process - see summary below:
Component Expected Completion Date
Preliminary Flow Sheet Completed
-------------------------
Nickel Resource Estimation Completed
-------------------------
PGM Resource Review Completed
-------------------------
Hydrology Study Completed
-------------------------
Legal, Environmental and Social Completed
Factors
-------------------------
Metallurgy Test Work Verification Nearing completion
-------------------------
The Company has reviewed the environmental and social context of
the Project with a detailed study completed as part of the
environmental license application for trial mining. The Company was
awarded the license, as announced, on 1 October 2018. The legal and
tenement standing of the Project has also been reviewed in the
light of the current development strategy as well as potential
exploration growth in the future.
The Company currently holds 45 tenements at Pedra Branca, of
which three have approved final reserves reports. The environmental
permit has been issued for the Esbarro target, which contains 20
million tonnes of ore, 520 000 oz of PGM+Au, and is currently
envisaged as the first production target at full operation.
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR").
* ENDS *
For further information, please visit www.jangadamines.com or
contact:
Jangada Mines plc Brian McMaster (Chairman) Tel: +44 (0) 20 7317
6629
Strand Hanson Limited James Spinney Tel: +44 (0)20 7409
(Nominated & Financial Ritchie Balmer 3494
Adviser) Jack Botros
Brandon Hill Capital Jonathan Evans Tel: +44 (0)20 3463
(Broker) Oliver Stansfield 5000
St Brides Partners Isabel de Salis Tel: +44 (0)20 7236
Ltd Gaby Jenner 1177
(Financial PR)
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCQXLBFKEFXBBX
(END) Dow Jones Newswires
May 13, 2019 02:36 ET (06:36 GMT)
Jangada Mines (LSE:JAN)
Historical Stock Chart
From Apr 2024 to May 2024
Jangada Mines (LSE:JAN)
Historical Stock Chart
From May 2023 to May 2024