Jangada reports exploration progress at Paranaita Gold Project
By Josh White
Date: Friday 06 Feb 2026
(Sharecast News) - Jangada Mines said in an update on Friday that exploration results at its Paranaíta Gold Project in Brazil continued to support the potential for a materially larger, shallow open-pit resource, as trenching and early drilling confirmed extensive mineralisation and encouraging gold grades.
The AIM-traded company said trenching returned gold grades of up to 4.3 grams per tonne and confirmed a north-east to south-west trending mineralised structure extending over more than 800 metres of strike length and to depths of up to 100 metres at the TP-02 target.
It said the work also identified several additional prospective targets across the 7,211-hectare project area in the Alta Floresta-Juruena Gold Province.
Jangada said it had completed 1,100 metres of drilling to date as part of a programme aimed at expanding the existing open-pittable resource of 210,000 ounces of gold at an average grade of 3.165 grams per tonne towards a target of around 350,000 ounces under the JORC code.
Initial assay results from the first drill hole at TP-02 intersected multiple mineralised intervals with grades of up to 3.1 g/t over a total mineralised length of 16.2 metres, in line with results from trenching and surface sampling.
The firm said trenching and soil sampling at TP-02 returned grades of up to 3.1 grams per tonne over continuous intervals of up to 20 metres, while additional trenches recorded grades as high as 4.3 grams per tonne.
At the TP-3.2 target, soil sampling delivered grades of up to 6.4 grams per tonne with continuous mineralised intervals of up to 32 metres above cut-off, alongside further anomalous results in adjacent trench areas.
Jangada noted that TP-02 and TP-3.2 together currently host an estimated 141,000 ounces of gold across two of six high-priority targets identified along an eight-kilometre mineralised corridor that contains more than 15 high-grade gold occurrences and historical sampling results of up to 135 grams per tonne.
Assay results from the remaining drill holes were expected later this month, after which the company planned to undertake detailed geological modelling with project vendor GE21 to determine the next phase of resource delineation and plan further drilling.
"Supported by the current favourable gold market conditions, initial results from Paranaíta reinforce our confidence in achieving the objective of defining a shallow open-pit mining opportunity at the Paranaíta Project," said chief executive Paulo Misk.
"The trench results, which allowed the demarcation of the 800 metre mineralised structure and its confirmation in the drill holes executed so far, are encouraging, supporting our learned opinion that the TP02 target of the Paranaíta Project is scalable."
He added that once all drilling results were received, the company would work with GE21 to plan additional drilling and deliver an enhanced geological model, with the aim of expanding the current inferred mineral resource and progressing its classification to JORC standards.
At 1058 GMT, shares in Jangada Mines were down 7.33% at 1.53p.
Reporting by Josh White for Sharecast.com.
Email this article to a friend
or share it with one of these popular networks:
You are here: news
10 Lower Thames St,
London EC3R 6EN