Announcement • Jun 11
Jangada Mines plc Provides Update on Paranaíta Gold Project in Brazil
Jangada Mines PLC provided an update on the Paranaíta Gold Project within the Alta Floresta-Juruena Gold Province in Brazil, where recent exploration results support the presence of a large-scale gold system with significant growth potential. Drilling confirmed a large-scale hydrothermal gold system with both structurally controlled high-grade vein-hosted and disseminated mineralisation styles, significantly enhancing its exploration potential. Approximately 1,200 metres of mineralised structure along a NE-trending corridor were identified at the TP2 target. Management anticipates an additional +50,000 oz of inferred resource at Paranaíta Project based on these results. Drilling which included high-grade gold intercepts, such as 1.32 m @ 43.61 g/t Au (DDJG25-051), as well as thicker intersections, such as 11.20 m @ 0.83 g/t Au (DDJG25-02) has led to a better understanding of the geology and refining of the exploration model. Strong spatial correlation between geological mapping, drilling, artisanal workings, and geophysical anomalies, increasing confidence in targeting methodology and supporting the discovery potential of additional mineralised trends. More than 20 artisanal pits identified across Project area, many of which remain unmapped and unsampled, highlighting substantial untapped exploration upside. Airborne geophysics, ground geophysics, and diamond drilling planned to support target refinement and further resource growth opportunities. The Paranaíta Gold Project is a highly prospective mineralised system in which two distinct styles of mineralisation have been identified: structurally controlled high-grade vein-hosted; and disseminated associated with broader hydrothermal alteration zones. The coexistence of these two styles, indicating the presence of a robust hydrothermal system, significantly enhances the exploration potential of the Project. Five high-priority targets have already been identified and are being evaluated along an 8 km mineralised corridor, which also has 15+ high-grade gold occurrences for further quantification. The latest drilling campaign primarily targeted the TP2 structure, where nine holes were drilled. Results from this programme have advanced the geological understanding of the area, improving comprehension of grade distribution along a c. 1,200 m structure on a NE-trending corridor. Following further desktop studies conducted in tandem with Brazilian geological consultants GE21, management estimate an additional potential resource of +50,000 oz Au could be formally defined and added to the existing inferred resource base with a further drilling campaign in this structure. The mineralisation intercepted in drilling demonstrated good correlation with surface expressions, structural controls, and geophysical anomalies, supporting the interpretation of a continuous mineralised corridor. A strong spatial correlation was observed between mineralised veins, geophysical anomalies, and artisanal miners' pits. The high level of alignment between these exploration vectors increases confidence in the targeting methodology, and indicates that the integration of geological mapping, geophysics, artisanal workings, and drilling data is proving highly effective in identifying mineralised zones. The extensive presence of artisanal mining activity throughout the area is indicative of the prospectivity of the Project, with more than 20 artisanal pits identified, many of which remain unmapped and unsampled. These workings represent important empirical indicators of mineralised zones and demonstrate the strong surface expression of gold mineralisation across the property. The absence of systematic geological mapping, channel sampling, and structural interpretation within these workings indicates that a significant portion of the mineralised system remains poorly constrained and largely underexplored. Overall, the exploration results obtained to date indicate that Paranaíta hosts a large-scale and evolving gold system with substantial upside potential. Considering the limited level of systematic exploration completed so far, combined with the numerous untested artisanal workings and strong geological-geophysical correlations, the Project remains highly prospective for the discovery of additional gold resources and potentially new mineralised trends. The updated geological model highlights the continuity of the mineralised system along a northeastern (NE) trend, confirming the structural control of gold mineralisation within the TP2 target area. The integration of the new drilling database has significantly improved understanding of the geometry and continuity of the mineralised zones, allowing the identification of three principal geological structures extending along the NE direction. Each structure presents distinct characteristics regarding grade distribution and mineralization style, suggesting the presence of multiple mineralised domains within the target. The consistency of mineralised intercepts across the drilled sections reinforces the exploration potential of the NE-trending corridor and supports the ongoing expansion of the TP2 geological model. Among the most significant intercepts, drill hole DDJG25-05 returned 1.32 m @ 43.61 g/t Au, highlighting the presence of high-grade mineralisation within the structure. Further encouraging results include 11.20 m @ 0.83 g/t Au (DDJG25-02), 0.41 m @ 6.41 g/t Au (DDJG25-06), and 0.25 m @ 5.76 g/t Au (DDJG25-08). Geological mapping conducted at the TP2 target indicates that the mineralisation remains open toward both the northeast (NE) and southwest (SW), demonstrating significant expansion potential along strike. Structural interpretations and surface geological observations suggest the continuity of the mineralised system beyond the currently explored areas, reinforcing the prospectivity of the target and supporting the advancement of additional drilling and systematic exploration programmes. Recent geological reconnaissance carried out at the P3.2 and TP3.
