Jangada Mines PLC (LSE:JAN) has released a promising exploration update for its Paranaíta Gold Project in Brazil, marking a key step toward expanding its gold resource base. The company is targeting an increase in resources from 210,000 ounces to approximately 350,000 ounces under JORC Code standards and intends to accelerate a Preliminary Economic Assessment focused on developing a high-grade, open-pit mine.
Exploration progress to date has been substantial: 21 of 31 planned trenches have been excavated, a 700-metre vein with visible gold mineralization has been identified, and a drilling contract has been signed for 1,800 metres of diamond drilling. These developments are expected to strengthen Jangada’s position in the gold sector and support the creation of long-term value for shareholders.
About Jangada Mines
Jangada Mines is a natural resource development company operating in Brazil, with a primary focus on gold exploration and development. Its flagship asset, the Paranaíta Gold Project, is located in the Alta Floresta-Juruena Gold Province, an area known for its high mineral potential.
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