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Jangada ups resources at Pedra Branca platinum group metals project

An updated mineral resource estimate for Jangada Mines Plc's Pedra Branca platinum group metals project in Brazil showed increases of 35% and 74%, respectively, in measured and indicated resources.

The project now hosts a JORC-compliant resource of about 1 million ounces of PGM plus gold at 2.46 g/t of palladium equivalent, 109 million pounds of nickel, 23 million pounds of copper, 6.4 million pounds of cobalt and 670,000 tonnes of chromium.

Meanwhile, 77% of the project's resources are now in the indicated and measured categories and are expected to be converted to economic reserves during the finalization of the pre-feasibility study, which may materially impact the life of the mine and project value.

The pre-feasibility and scoping studies are progressing on schedule, with the latter expected to be completed during the current quarter.

Jangada is targeting an exploration potential of more than 3 million ounces of PGM at the project.