Jangada Mines plc (LSE:JAN) has reported further high-grade gold assay results from its Molly Gold Project in Brazil’s Tapajós Province, with grab samples returning up to 370.41 grams per tonne (g/t) of gold at Molly 2 and 151.23 g/t at the Vivi target.
The latest sampling programme identified additional gold-bearing quartz veins across several exploration areas, including the newly identified Jane and Esmeril targets. The results also revealed associated silver, copper, lead and zinc mineralisation, supporting the company’s interpretation of a broader polymetallic system.
Jangada has now identified seven prospective target areas across the project, with further sampling, geological mapping and geophysical interpretation underway.
Vivi Target Delivers Further High-Grade Gold Results
Additional sampling at Vivi returned gold grades of 151.23 g/t, 112.45 g/t, 49.93 g/t and 39.74 g/t, following an earlier result of 306.23 g/t.
The original high-grade sample also contained 166.00 g/t silver, 2.19% lead and 1.12% zinc.
Across the sampling programme, three samples returned gold grades exceeding 100 g/t, four exceeded 40 g/t, ten exceeded 10 g/t and 19 exceeded 1.0 g/t.
Surface mapping has identified at least seven mineralised quartz veins across an area of approximately one square kilometre, although the full extent of the individual structures and the wider vein system remains undetermined.
The company said the presence of multiple gold-bearing veins, together with elevated concentrations of silver, copper, lead and zinc, was consistent with a structurally controlled hydrothermal mineralising system.
Further analysis is underway to establish the continuity and geological relationships between the identified veins.
Molly 2 Sampling Returns Gold Grades of 370.41 g/t
At Molly 2, follow-up exploration identified additional mineralised zones following drilling results announced in August 2026.
Grab samples returned gold grades of 370.41 g/t and 241.30 g/t, accompanied by silver grades of 148.00 g/t and 57.50 g/t, respectively.
The newly identified mineralised structures display varying orientations and dips, indicating the presence of multiple gold-bearing zones within the target area.
Jangada expects the latest sampling results, combined with ongoing geophysical interpretation, to assist in identifying additional drilling targets.
The company is continuing to assess the distribution and potential extent of mineralisation across Molly 2.
New Jane and Esmeril Targets Expand Exploration Area
Exploration has also identified gold-bearing structures at the Jane and Esmeril targets, located west of Vivi.
The areas were initially identified through evidence of artisanal mining activity, prompting further geological investigation and sampling.
At Esmeril, grab samples returned gold grades of up to 26.56 g/t and 15.16 g/t.
Geological mapping identified mineralised structures near the boundary of the Molly Project licence area, with their strike extending into the project.
Preliminary geological and geophysical interpretations suggest that additional extensions of these structures could occur within the Jane and Esmeril target areas.
Jangada said exploration at both targets remains at an early stage, with further detailed investigations being planned.
Seven Prospective Gold Targets Identified
The company has now identified seven exploration targets across the Molly Gold Project: Molly 1, Molly 2, Vivi, Jane, Esmeril, Boomerang South and Eastpot.
The latest discoveries extend the project’s prospective footprint, particularly towards the southern part of the licence area.
Jangada also highlighted the exploration potential of Boomerang, where a mineralised trend extends for approximately five kilometres and remains relatively underexplored.
Chief Executive Officer Paulo Misk said the latest results had exceeded the company’s expectations.
“The consistently high grades, alongside associated silver, copper, lead and zinc mineralisation, highlight the potential for an extensive, structurally controlled mineralised system,” Misk said.
He added that the identification of additional targets had increased the scope for further exploration across the project.
Further Assay Results and Geophysical Interpretation Pending
Jangada is continuing a second sampling programme covering Vivi, Molly 2, Boomerang South and Eastpot.
At Vivi, systematic channel sampling has been undertaken across one of the identified mineralised structures.
A total of 78 channel samples were collected, with assay results outstanding for 54 samples from six channels positioned perpendicular to the main structure.
Results are also pending from an external laboratory for a further 26 grab samples collected at Vivi.
Meanwhile, geological mapping continues across the project, and interpretation of completed drone magnetic and induced polarisation surveys is approaching completion.
Aeromagnetic survey results are also expected shortly.
The company’s fully funded Phase 2 drilling campaign is nearing completion, with the latest geological information expected to contribute to the assessment of future exploration priorities.
High-Grade Samples Require Further Verification
Although the latest grab samples returned substantial gold grades, Jangada acknowledged that selective surface samples do not necessarily represent average grades across a deposit or demonstrate mineralisation continuity.
Further systematic sampling, geological interpretation and drilling will be required to determine the extent, geometry and consistency of the mineralised zones.
The company has not established a mineral resource estimate for the newly identified targets based on these results.
Outlook
Jangada’s latest exploration results provide additional evidence of high-grade gold-bearing structures across multiple areas of the Molly Gold Project.
Near-term activities will focus on completing the ongoing sampling programme, receiving outstanding assay results and finalising geophysical interpretations.
The company will also assess the results of its Phase 2 drilling campaign as it works to define further exploration targets.
While the reported gold grades are high, additional drilling and geological work will be necessary to establish whether the mineralisation has sufficient continuity, scale and economic potential to support future development.
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