AUS
NZ
UK
CA
USA
IND
_09_27_2025_16_21_36_527590.png)
Highlights
- Jangada Mines sold entire Blencowe holding to redirect capital to Paranaíta Gold Project.
- Trenching underway, samples collected, drilling contractor negotiations in progress.
- Targeting annual production of approximately 20,000 oz Au at Paranaíta.
Jangada Mines (LSE:JAN), a Brazil-focused natural resource development company, announced that it has sold its entire investment in Blencowe Resources PLC to concentrate its cash resources on a new gold strategy. The focus is on advancing the high-grade Paranaíta Gold Project in Brazil.
Following the sale of 21,050,000 ordinary shares in Blencowe and a GBP 800,000 capital raise in August 2025, Jangada stated that it is well-capitalised to implement its strategy and accelerate work at Paranaíta, where it holds management control. Trenching has already commenced, with samples being collected and discussions with drilling contractors underway. An update on these activities is expected in the coming weeks.
The company is aiming to deliver a preliminary economic assessment (PEA) for a high-grade, open-pit operation targeting annual production of around 20,000 oz Au. Analysis of existing project data is guiding an exploration programme designed to expand the current 210,000 oz Au resource to a targeted ~350,000 oz Au under JORC reporting standards.
Paranaíta Gold Project covers 7,211 hectares and is a gold-rich porphyry-epithermal system with extensive historical data and artisanal mining activity. Fifteen primary high-grade gold occurrences have been identified along an 8 km east-west mineralised corridor.
An internally generated resource estimate currently stands at approximately 210,000 oz Au at 3.165 g/t, compliant with Comissão Brasileira de Recursos e Reservas standards. This resource is expected to be readily converted to JORC classification and expanded with further exploration.
Historic exploration investment exceeded USD 2m, identifying six high-priority zones. Sample results reached up to 135 g/t Au, with trench and drill highlights including 5.0 metres at 5.48 g/t Au and 3.8 metres at 12.5 g/t Au. Metallurgical testing indicated an average overall gold recovery of 86%.
