StockMarketWire.com - Natural resources company Jangada Mines reported updated mineral resources estimate for its Pitombeiras operation in Brazil North showing a 221% increase in measured and indicated resource.

The updated preliminary economic assessment is expected to be completed following the delivery of the updated mineral resources for both Pitombeiras' and Goela.

The Goela target drilling was now underway, and the company said it was confident it will add to its previously disclosed resources.

Based upon the exploration results from the Pitombeiras North, Pitombeiras South and Goela targets, Jangada aims to potentially delineate 10Mt of total mineral resources.

'While we await the conclusion of the works at Goela, our team has advanced many other workstreams, including new metallurgical tests, that will be part of the updated PEA, scheduled for completion in Q3 2021,' the company said.




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