|Interest||1.0% NSR Royalty|
|Commodity||Vanadium, Titanium, Iron Ore|
|Counterparty||Jangada Mines Plc.|
- Pitombeiras is a high-grade greenfield vanadium, titanium, iron exploration project in Brazil with mineralisation commencing at surface.
- Pitombeiras hosts a NI43-101-compliant resource estimate of 5.70Mt at an average grade of 0.51% vanadium pentoxide ('V2O5'), 10.09% titanium dioxide ('TiO2') and 50.42% of ferric oxide ('Fe2O3') for a contained resource of 28,990 tonnes V2O5 (released 19 August 2020)
- Indicated Resource estimate of 1.47 million tonnes at an average grade of 0.50% V2O5, 9.85 % TiO2 and 49.78% of Fe2O3 for a contained resource of 7,297 tonnes V2O5
- Inferred Resource estimate of 4.23 million tonnes at an average of 0.51% V2O5, 10.17% TiO2 and 50.64% of Fe2O3 for a contained resource of 21,693 tonnes V2O5
- Preliminary Economic Assessment to be completed following completion of drilling extension with targeted release Q1 2021
- Mineralisation at or near surface with significant further upside as resource remains open in all directions and to date only two out of eight known targets have been drilled
- Additional step out and infill drilling planned in late 2020 for resource expansion and upgrade at Pitombeiras North and Goela targets whilst also targeting Pitombeiras South
- Jangada notes also that the resource remains open in all directions and to date, the drilling and assay results that are feeding into the PEA are based on two out of eight known targets selected based on ground magnetic survey, using N-S oriented lines with spacing between lines ranging from 25 to 100 meters for total of 129.79 linear kilometres, covering an area of 1,068.89 hectares.
- Further information can be found at this website: http://www.jangadamines.com/