|Interest||1.0% Net Smelter Royalty|
|Commodity||Vanadium, Titanium, Iron Ore|
|Counterparty||Jangada Mines plc|
- Pitombeiras is a high-grade greenfield vanadium, titanium, iron exploration project in Brazil with mineralization commencing at surface.
- Pitombeiras hosts a NI43-101-compliant resource estimate of 8.26Mt of which 62% is classified in the higher confidence Measured and Indicated category (July 29, 2021).
- Measured & Indicated Resource estimate of 5.1Mt million tonnes at an average grade of 0.46% V2O5, 9.04 % TiO2 and 46.06% of Fe2O3 for a contained resource of 23,439 tonnes V2O5.
- Inferred Resource estimate of 3.16 million tonnes at an average of 0.44% V2O5, 9% TiO2 and 45.86% of Fe2O3 for a contained resource of 13,729 tonnes V2O5.
- A positive Preliminary Economic Study (“PEA”) was published on February 16, 2021, confirming robust economics and potential to become a profitable producer of Ferrovanadium concentrate (62%/65% Fe, plus V2O5 credit).
- Based on the robust PEA, Jangada on September 30,2021 announced that the project would be fast-tracked via a full feasibility study, rather than an upgraded PEA, and that an independent engineering advisory company has been appointed.
- Further information can be found at this website: http://www.jangadamines.com/