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Jangada Mines said it would launch an exploration programme at its Pitombeiras vanadium located in Brazil to support a preliminary economic assessment of the project in the first quarter of 2020.
The company would explore the grid along the 43 North-South oriented-lines, completing a minimum of 1,500m of drilling with 30 drill holes. It would also carry out a ground magnetic survey as well as collect samples for metallurgical testwork.
'We believe that at the end of the planned exploration schedule and along with the conclusions of the logistic study, we will have substantial information to prepare a robust preliminary economic assessment in Q1 2020,' the company said.
At 9:52am: (LON:JAN) Jangada Mines Plc Ord Gbp0.0004 share price was -0.2p at 2.2p