Jaganda Mines issues update on the Paranaíta Gold Project

Overview

• Drilling confirmed a large-scale hydrothermal gold system with both structurally controlled high-grade vein-hosted and disseminated mineralisation styles, significantly enhancing its exploration potential.
• Approximately 1200 m of mineralised structure along a NE-trending corridor identified at the TP2 target. Management anticipates an additional +50 000 oz of inferred resource at Paranaíta Project based on these results.
• Drilling which included high-grade gold intercepts, such as 1.32 m @ 43.61 g/t Au (DDJG25-051), as well as thicker intersections, such as 11.20 m @ 0.83 g/t Au (DDJG25-02) has led to a better understanding of the geology and refining of the exploration model.
• Strong spatial correlation between geological mapping, drilling, artisanal workings, and geophysical anomalies, increasing confidence in targeting methodology and supporting the discovery potential of additional mineralised trends.
• More than 20 artisanal pits identified across project area, many of which remain unmapped and unsampled, highlighting substantial untapped exploration upside.
• Airborne geophysics, ground geophysics, and diamond drilling planned to support target refinement and further resource growth opportunities.

Jangada Chief Executive, Paulo Misk, said: “We are delighted to have confirmation of 1.2 km of mineralised structure, from the first of our identified five high grade targets. Results suggest an additional potential inferred resource at Paranaíta Project of +50 000 oz can be generated from the TP2 target, adding to the existing 210 000 oz Au. With the extensive desktop study now complete, we have a better understanding and interpretation of the geology and structural trends that have derisked the exploration model. The strong correlation between geological mapping, drilling, artisanal workings, and geophysical anomalies is highly encouraging especially put into context of the 20 plus artisanal pits already identified.

“The recent analysis and results from the drilling programme reaffirm our positive interpretation of Paranaíta and we are fully-funded for its next level of exploration, which will include additional geophysics (including drone surveys) and IP work to further quantify the development potential of a low-capex, open-pit, gold production project. Following the completion of the geophysical survey, we intend to move to a more robust drilling campaign aiming to evaluate the additional resource at TP2 and expand and increase the level of confidence of the resource at TP1 and TP3.2.

“As announced earlier this week, work is already underway at the Molly Gold Project, which has a resource 130 000 oz Au. The work programmes at both projects are funded from existing cash resources and we look forward to providing further operational updates as we deliver on our strategy of building a multi asset high grade gold portfolio.”

Read the article online at: https://www.globalminingreview.com/exploration-development/11062026/jaganda-mines-issues-update-on-the-paranata-gold-project/