Jangada Mines PLC (LSE:JAN) has completed the purchase of a 33.3% equity interest in MTGOLD Mineração LTDA, the company that owns the Paranaíta Gold Project in Brazil. The project lies within the Alta Floresta – Juruena Gold Province, an area recognized for its abundant gold resources.
The acquisition, valued at £1 million in Jangada shares along with a £250,000 cash component, establishes Jangada as the project’s operator. Current exploration work has already identified around 210,000 ounces of gold, and the company intends to expand drilling and development activities to unlock additional value over the short term.
About Jangada Mines PLC
Jangada Mines PLC is a UK-listed resource development company with a primary focus on Brazil. Listed on AIM, the company is dedicated to the exploration and advancement of gold and other mineral projects, aiming to build shareholder value through disciplined project development and resource growth.
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