Jangada Mines PLC said Oct. 10 that drilling identified high-grade nickel and copper sulfide anomalies at its Pedra Branca platinum group metals project in Brazil.

The discoveries are located immediately beneath the project's existing PGM and base metal resource, and could improve its already robust economics.

Highlights include 2.65% nickel, 0.86% copper and 0.13% cobalt at a depth of 55 meters, and 1.65% nickel, 1.5% copper and 0.1% cobalt at 47.2 meters.

Jangada is preparing a pre-feasibility study for Pedra Branca assuming shallow open pit mining and conventional processing methods.