Announcement • 21h
Jangada Mines plc Completes Phase 1 Drilling Programme and Reports Bonanza Gold Grades At Vivi Target
Jangada Mines plc has reported the completion of the Phase 1 drilling programme at the Molly Gold Project and the discovery of bonanza gold grades at the Vivi target. Drilling has successfully confirmed the historically reported exploration and drilling data, extended the previous mineralisation envelope along strike and down dip, and demonstrated the resources growth potential at Molly 1, which already has an inferred resource of 130,000 ounces of gold at an average grade of 2 g/t. Final Phase 1 drill hole highlights include: Hole 13A: 21.81 g/t Au, 9.50 g/t Ag and 0.67% Cu over 0.5m; Hole 3A: 20.76 g/t Au over 0.5m, 11.50 g/t Au over 0.58 m and 5.75 g/t Au over 0.55m separately; Hole 4A: 1.19 g/t Au over 14.15 m including 8.39 g/t Au, 6.10 g/t Ag, 0.37% Cu over 0.50m; 2.99 g/t Au over 0.95 m; 2.46 g/t Au, 3.00 g/t Ag over 0.66 m and 2.40 g/t Au over 1.00 m; Hole 2B: 7.77 g/t Au over 0.73m; Hole 11A: 3.76 g/t Au, 0.39% Cu over 3.00m (including 5.81 g/t Au over 0.95m); Hole 15A: 1.96 g/t Au, 13.72 g/t Ag and 0.3% Cu over 5.74m. A new style of disseminated mineralisation was discovered with Hole 4A intersecting 14.15m of disseminated gold at 1.19 g/t with a higher-grade core at 8.39 g/t over 0.50m. Copper mineralisation at Molly 1 has also demonstrated consistently higher grades than those historically reported. Geological modelling studies are underway at Molly 1 to validate and upgrade resource estimates. Vivi Target emerged as a highly prospective target with four rock-chip samples returning exceptionally high-grade values, including up to 306.2 g/t Au, 166.0 g/t Ag, 2.24% Cu, 2.19% Pb, and 1.12% Zn. Rock chip collected along the exposed Vivi 1 quartz vein returned gold grades of 151.23 g/t Au, 49.93 g/t Au, 39.74 g/t Au and copper grades as high as 0.20%. Drilling has confirmed a structurally controlled boudinage-type mineralised system at Molly 2. Highlights include Hole 8A returning multiple mineralised intercepts including 3.50 g/t Au over 0.91m and 2.23 g/t Au over 0.68m, alongside the presence of zinc and copper. Hole 7A returned 5.42m at 1.41% Pb with 1.00m at 4.97% Pb, demonstrating an active hydrothermal system. Also, hole 7A returned 0.87m grading 3.11 g/t Au, 30.40 g/t Ag, 0.13% Cu, and 0.24% Pb. A comprehensive 350 line-km Mag-drone survey and a 20.8 line-km ground Induced Polarisation survey are currently underway across the Project to refine structural interpretations and generate new high-priority drill targets. These geophysics surveys followed by a geological mapping will support further geological interpretation for additional potential resource growth at the Molly targets and additional drilling execution at the most promising targets, including Vivi. With Phase 1 drilling completed the Company remains well financed with over GBP 1,000,000 in cash and is fully funded for the next phase of exploration. The Molly Project continues to deliver highly encouraging exploration results underlining the project wide potential with the results from Molly 1, Molly 2 and Vivi targets, located in the southern part of the mining claim, reinforcing its potential as a significant polymetallic mineral system. Drilling at Molly 1 has successfully confirmed the findings of historical exploration and the 2,857m drilling campaign has identified a robust, near-surface epithermal gold system, which yielded significant intercepts including 3.0m at 14.4g/t Au, 5.07m at 8.6g/t Au, 6.5m at 10.5g/t Au and 1.0m at 200g/t Au. The Phase 1 drilling programme has now intersected multiple high-grade intervals across several holes, with results ranging from narrow, exceptionally high-grade veins to broader, more consistent mineralised zones. The most significant result came from Hole 4A, which returned a robust intersection of 14.15m of disseminated gold at 1.19 g/t with a higher-grade core at 8.39 g/t over 0.50m. This hole is approximately 150m to the west of Hole 3A, where exceptional results were reported including 0.58m grading 11.50 g/t Au, 21.30 g/t Ag, and 0.47% Cu, as well as a particularly high-grade interval of 0.50m grading 20.76 g/t Au, 6.30 g/t Ag, and 0.58% Cu and another one of 0.55m grading 5.75 g/t Au, 9.00 g/t Ag, and 1.35% Cu. Additional drilling across the target has returned multiple narrow, high-grade intercepts, consistent with the geology encountered by operating mines in the region. Hole 2B yielded 0.73m grading 7.77 g/t Au, 7.10 g/t Ag, and 0.23% Cu, while Hole 2A returned 0.78 m grading 2.92 g/t Au, 8.20 g/t Ag, and 0.17% Cu. Hole 3B delivered 1.19 m grading 1.97 g/t Au, with a higher-grade sub-interval of 0.66m grading 2.87 g/t Au and 6.20 g/t Ag, as well as an additional 0.89m grading 2.29 g/t Au. These results provide compelling support for the lateral continuity of the mineralised structure and reinforce the interpretation of a robust, multi-vein hydrothermal system with significant polymetallic potential. The correlation between mineralised intercepts across multiple holes demonstrates that high-grade mineralisation remains open along strike and highlights the potential for additional mineralised shoots within the system. To validate and confirm the resource estimates of Molly 1, the Company has initiated comprehensive geological modelling studies. The results will provide a solid foundation for future resource growth and potential resource expansion. The results from the Phase 1 drilling programme at Molly 1 continue to demonstrate the strength and complexity of the mineralised system, with multiple high-grade gold intersections associated with significant silver and copper mineralisation. Molly 1 may represent an important component of a larger hydrothermal mineralised system. When considered alongside Molly 2, Vivi and Boomerang, the results support the potential for a more extensive mineralised system across the Molly Project, warranting further drilling and geological modelling to define its continuity and scale. The Vivi target is situated approximately 800m to the west of the existing Molly 2 deposit and comprises two parallel N290-trending mineralised structures, approximately 100m apart, referred to as Vivi 1 and Vivi 2. Both structures are characterised by quartz veins displaying intense sulphide mineralisation, including pyrite, arsenopyrite, galena, and pyrrhotite. Initial results from four rock-chip samples collected from the mineralised quartz veins returned highly significant gold, silver, and base-metal grades. The most exceptional result came from sample V2b at Vivi 2, which returned 306.2 g/t Au, 166.0 g/t Ag, 2.24% Cu, 2.19% Pb, and 1.12% Zn from a 1.8-metre-thick mineralised vein. Results from V1 returned 21.52g/t Au and V2a returned 11.04 g/t Au + 8.3g/t Ag. Recent rock chip sampling collected along the exposed Vivi 1 quartz vein returned results of 151.23 g/t Au, 49.93 g/t Au, and 39.74 g/t Au.
