Jangada Mines (LSE:JAN) has announced high-grade drilling results from its Molly Gold Project in Brazil, confirming the continuity of polymetallic mineralisation at the Molly 1 deposit and extending the known strike length by as much as 150 metres toward the East Pot area. Drill intercepts included gold grades exceeding 20 g/t, alongside notable silver and copper mineralisation, supporting the interpretation of a larger structurally controlled ore body that remains open both along strike and at depth. The results strengthen the case for an expanded drilling campaign at the project.
At the separate Molly 2 target, maiden drill hole 7A confirmed a new polymetallic discovery connected to the broader Molly 1 system. The hole encountered shallow high-grade mineralisation containing gold, silver, copper and lead, trending westward toward the Vivi target area. Combined, the Molly 1 East Pot and Molly 2 Vivi corridors point to the emergence of a district-scale polymetallic system with substantial resource expansion potential. Jangada said the project could see a significant increase in resources as outstanding assay results are processed and further drilling, geophysical surveys and structural analysis are completed.
The company’s outlook remains constrained by weak financial fundamentals, including its pre-revenue status, recurring losses and continued cash burn despite having no debt on the balance sheet. However, technical indicators appear more supportive, with the share price trading above key moving averages and showing moderately positive momentum. Valuation metrics remain limited by the absence of earnings and dividend support.
More about Jangada Mines PLC
Jangada Mines plc (LSE:JAN) is an AIM-listed natural resources company focused on the exploration and development of gold and polymetallic projects in Brazil. Its flagship Molly Project is located within the Tapajós Gold Belt and targets structurally controlled high-grade narrow vein systems containing gold, silver, copper, zinc and lead in a historically productive artisanal mining region.
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