- Jangada Mines welcomed the release of positive assay results from drilling conducted by 17.7%-owned ValOre Metals at its Pedra Branca platinum group elements project in northeastern Brazil.

Highlights included the intersection of 9.49 grams per tonne of platinum group elements plus gold over 2.45 metres, within a broad mineralized ultramafic unit of 0.76 grams per tonne over 61.85 metres from 217.50 metres downhole.

'Our Phase 1 drilling has successfully identified near surface mineralization in the southern portion of the current Trapia 1 resource area,' ValOre chairman and chief executive Jim Paterson said.

The drilling, he added, had also extended and thickened an easterly down-dip mineralization across the full width of the resource, and proven that the mineralized ultramafic intrusion remained intact and open to expansion along a 1 kilometre geophysical target to the south.

'We plan to return to Trapia 1 near the end of Phase 1 due to the considerable resource expansion potential,' Paterson said.

At 2:37pm: [LON:JAN] Jangada Mines Plc Ord Gbp0.0004 share price was 0p at 2.95p

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