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Jangada ups Pedra Branca PGM, gold resource by 50%

Jangada Mines Plc's ore volume at its Pedra Branca platinum group metals project in northeastern Brazil increased 50% to 34.5 million tonnes at 1.3 g/t of PGMs and gold, at a 0.3 g/t gold equivalent cut-off grade.

The company recorded a 53% increase in PGM resource to 1.45 million ounces, a 28% increase in nickel resource to 140 million pounds, an 11% increase in the copper resource to 26 million pounds, and a 4% increase in cobalt resource to 6.7 million pounds.

The measured and indicated ore volume stands at 17.9 million tonnes, while the inferred resource totals 16.6 million tonnes.

Jangada said May 15 that it plans to evaluate six more known targets with potential for additional major upside in future resource estimates.

The company received government approval for pilot-scale production at Pedra Branca project in December 2017.