advancing the pitombeiras vanadium project highly exposed to … · 2020-06-23 · corporate...

CORPORATE PRESENTATION JUNE 2020

Advancing the Pitombeiras Vanadium Project

Highly Exposed to PGM Upside through ValOre Holding

Jangada Mines plc | Q2 2020

INVESTMENT HIGHLIGHTS

Focused on the exploration & development of the highly prospective Pitombeiras Vanadium Project. Exposed to the prolific Pedra Branca PGM Project through a 26% ownership of ValOre Metals Corp. (TSX-V: VO)STRATEG

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High grade vanadium, titanium, iron mineralisation starting at surface

Drilling and extensive surface sampling confirmed discovery

Technical report indicates potential for sizable high grade resource

Structural & geophysics data demonstrate potential to extend the known mineralisation

Metallurgical tests demonstrate high grade vanadium recoveries

Extensive exploration programme & PEA executed in 2020

Favourable mining jurisdiction with mineral rights & surface access secured

Management with proven development & permitting track record in Brazil

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Currently short-term liquidity equivalent to Market Capitalisation


BOARD & CORPORATE STRUCTURE

Capital Structure (*) LON:JANOrdinary Shares 237,315,053Market Cap in GBX (*) ₤4.6 millionMarket Cap. in CAD (*) C$7.8 millionDirectors Shareholding 46.3%Equity not in public hands 72.5%

Liquidity26% interest in Valore Metals Shares (*) C$5.6 millionCash Position (**) C$1.5 millionTotal Liquidity in CAD (*) C$7.1 millionTotal Liquidity in GBX (*) ₤4.2 million

(*) June 16, 2020; (**) As at December 2019 plus ValOre last C$1.0M payment received Feb 2020

20 years’ experience in the area of corporate reconstruction, turnaround, and performance improvement, alongside 20 years in the mining industry. Founder of numerous ASX-listed companies and managed the reorganisation, recapitalisation and listing of over 20 companies. Founding director of venture capital and advisory firm Garrison Capital Pty Ltd.

Brian McMaster Executive Chairman

Over 25 years’ experience in the natural resources sector. Former CEO of Asia Resource Minerals plc (formerly Bumi plc), a FTSE listed mining company, where he played a significant role in restructuring the group. Former Deputy Chairman of Berau Coal, one of Indonesia’s largest coal producers. Previously he was a senior executive at Anglo American plc and De Beers, where he worked for over 20 years. Currently Executive Chairman of Arc Minerals Limited, a UK listed company and Chairman of Fodere Group, a private mining company.

Over 25 years of mining experience in Brazil. P.Geo, a lawyer, and an independent member of several TSX-ASX listed companies. Founder and Managing Partner of FFA Legal, focused solely on natural resources companies. Co-Founder of Avanco Resources sold to Oz Minerals for $430 million. VP of the Brazilian National Conference of Industry’s Mining Council. Rio Verde Minerals; Harvest Minerals, Jangada Mines, Talon Metals, Brazilian Gold.

Nicholas von Schirnding Ind. Non-Exec Director

Luis Azevedo Exec Director

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PITOMBEIRAS VANADIUM PROJECT

LOCATION & LOGISTICS • State of Ceará/Brazil - 300km from port city of Fortaleza on a paved highway • Three potential routes for ore identified – ports in Ceará Free Trade Zone

TECHNICAL REPORT • JORC Exploration Target range from 40Mt to 60Mt tonnes at 0.3% to 0.6% V2O5, 40% to 55% Fe2O3

and 8 to 10% TiO2.

PROJECT AREA • Single exploration license covering 1,093 hectares

MINERALISATION • Typical Vanadiferous Titanomagnetite (VTM) style of mineralisation with vanadium minerals

associated with magnetite-rich zones hosted within the Troia mafic/ultramafic sequence

METALLURGY • Positive Davis Tube Recovery results demonstrating amenability of ore to conventional magnetic

separation

EXCELLENT JURISDICTION FOR EXPLORATION AND MINING • Supportive local and state governments / established infrastructure

HIGH-GRADE VANADIUM, TITANIUM, IRON

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PROJECT LOCATION & FAVOURABLE LOGISTICS

• Supportive mining code

• Established infrastructure at site including road, rail and power

• Three identified routes to ports located at free trade zone – including Pecem seaport, a major bulk handling port

• Pecem is 352km from site and accessible via a federal paved highway

CEARÁFORTALEZA

PITOMBEIRAS

PECEM

FAVOURABLE LOCATION, EASY ACCESS AND EXCELLENT INFRASTRUCTURE

PECEM PORT: Complete infrastructure with capacity to move 750k EUTs per year • An artificial external port for mixed

use with a total movement capacity of 750k Equivalent Unit of Transport (EUT) • Partnered with the Port of Rotterdam

• Located in the state of Ceará, which benefits from: • Industrial free trade area for

exporting that provides tax and exchange benefits

• Simplified administrative procedures, which positively impact the product's selling margins and bring additional competitive advantages to Jangada

• Trained and skilled workforce readily available

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2019/2020 EXPLORATION PROGRAMME

VANADIUM-BEARING MASSIVE MAGNETITE ROCK

Geological Mapping Highly detailed approach covering the entire tenement area

Diamond Drilling 1,360 m of drilling with 19 drill holes concluded on Q1/2020. 688

analysis

ONGOING – RESULTS EXPECTED DURING H2 2020

EXPLORATION PROGRAMME

Ground Magnetic Survey Continuous along 43 x 100 m spaced S-N lines covering a total

area of 1,308 ha, totalling 133.3 km of survey

Ground Gamma Survey Along 43 x 100 m spaced S-N lines, with measurement points at

each 50 m

Soil Sampling Along 43 x 100 m spaced S-N lines, with stations at each 50 m

CLEAR PATH TO RESOURCE DEVELOPMENT

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Dry Density Study 305 core samples

JORC Mineral Resources

PEA


SUBSTANTIAL EXPLORATION UPSIDE

• Layered and massive vanadium-bearing magnetite body associated with large airborne magnetic anomaly

• Three mineralised bodies associated with high-magnetic anomalies

• Structural and geophysical interpretation supports lateral and downdip extension of the known mineralisation to the north and east directions

• Potential exists to delineate additional magnetic sources

• Lithological and chemical/grade consistency between drill holes further support continuity

• Potential high grade vanadium, titanium and iron project development

• Attractive mass recovery producing high-grade vanadium magnetite concentrates (Davis Tube Recovery test)

FAVOURABLE REGIONAL GEOLOGY TRANSLATES INTO SCALABILITY

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JORC Exploration Target has been estimated from recent drilling, magnetic and rock chip geochemistry to range from

40Mt to 60 Mt tonnes at 0.3% to 0.6% V2O5, 40% to 55% Fe2O3 and 8 to 10% TiO2


MAGNETIC ANOMALY TARGETS

• Recent work has discovered a new target – Goela

• Substantial footprint added to the overall prospect beyond the previously announced JORC Exploration Target

• Ongoing work to investigate if Pitombeiras (170,000m2) and Goela (80,000m2) are linked and form one large deposit

• Other smaller-size magnetic anomalies have been confirmed on an infill ground magnetic phase

EIGHT NEW TARGETS IDENTIFIED

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EXECUTED DRILLING PROGRAMMETESTING VTM STRUCTURAL CORRIDOR

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• 345.15-metre drilled in 2019 plus 1,360.80-metre drilled in 2020, for a total of 1,705.95-metre of diamond drilling

• Drilling programme tested three of most prospective magnetic targets associated with outcropping VTM mineralisation

• Average grades and apparent widths for all 13 mineralised holes received to date stand at 0.535% V2O5, 10.58% TiO2 and 56.19% Fe2O3 over 31.34 metres

Exploration Target

Total Diamond

Drill Holes

Total Metres

Pitombeiras North 14 1,232.90

Pitombeiras South 2 171.10

Goela 8 301.95

Total 24 1,705.95


DRILLING RESULTS – PITOMBEIRAS NORTHCONSISTENT, HIGH GRADE MINERALISATION CONFIRMED AT SURFACE AND AT DEPTH

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High-grade zones contains V2O5 intercepts of 0.81%, 0.75 % and 0.74 % over a 7.0 m, 14.0 m and 13.25 m intervals, respectively

Fresh massive VTM mineralisation on drill hole DD20PI16 at 18.00 metres

depth


DRILLING SECTIONSCONSISTENT, HIGH GRADE MINERALISATION CONFIRMED AT SURFACE AND AT DEPTH

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• High grade mineralisation commences at surface and remains open along the strike

• Geological model is consistent with other globally significant vanadium deposits


POSITIVE METALLURGY TESTS

• Davis Tube Test is considered by metallurgists to be a simulation of industrial wet magnetic separation

• Key findings • Two samples submitted from Pitombeiras

responded exceptionally well and demonstrate the ore’s suitability to be processed by magnetic separation

• Results indicate a conventional processing route producing high quality concentrate is feasible

• Mass recovery was 59% and 62% with grades of 1.26% and 1.23% V2O5 respectively

• Low concentration of deleterious elements in concentrate

DAVIS TUBE TEST

Concentrate Pitombeiras Ore

V2O5 Grade 1.24%

Fe203 Grade 95%

Recovery 61%

TiO2 Grade 33.75%

SiO2 0.74%

AI2O3 2.08%

MgO 0.68%

RESULTS

Vanadium-bearing massive magnetite rock

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LOGISTICS STUDY

• C. Steinweg Handelsveem Latin America S.A. prepared an initial analysis on logistics of shipping the ore

• Preliminary study considered an estimated iron ore production of 300kt, ramping to 600kt within two years

• Indicative costs to transport the ore to the Main Chinese Ports (“MCP”) using the Fortaleza seaport have been estimated at US$84.64/wet metric tonne (wmt).

• Using the Pecem seaport as an alternative route, the total indicative costs have been estimated at US$ 90.02/wmt.

• Estimates include road freight, operations, charges and ocean freight

LOW LOGISTICAL COSTS INCREASE COMPETITIVE NATURE OF DEPOSIT

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Fe-V-Ti COMPARABLES – EXPLORERS & DEVELOPERSGRADE IN CONCENTRATE

Fe2O3 GradeTiO2 Grade

14Source: Company reports

V2O5 Grade


PEDRA BRANCA PGM-AU PROJECT

CONTROL OF AN ENTIRE PGM DISTRICT (PD-PT-AU, IN BRAZIL) • 38,940 ha land package, five 43-101 resource PGM deposit areas >US$35M HISTORICAL EXPENDITURES, ANGLO AMERICAN PLATINUM (~12 YEARS) • >30,000m drilling, extensive geophysics and geochemistry • Deemed “non-core asset” by Anglo in 2014 due to extremely high internal hurdles (>14

Moz) AUG-2019 43-101 RESOURCE: 1.067 MOZ PGM+AU IN 27.2 MT @ 1.22 G/T • Inferred resource expansion potential at all 5 deposits PGM+AU DEPOSITS COME RIGHT TO SURFACE • All open pit targets, extremely low strip ratios, and proven targeting methodology EXCEPTIONAL PROPERTY-WIDE EXPLORATION POTENTIAL • 25 undrilled targets, 10 drilled targets requiring follow-up / Strong 43-101 resource

expansion upside • Jangada used to own 100% of Pedra Branca and therefore has extensive understanding

of geology and prospectivity EXCELLENT JURISDICTION FOR EXPLORATION AND MINING • Supportive local and state governments / Established infrastructure EXTREMELY FAVORABLE MARKET OUTLOOK FOR PGMS • Strong supply-demand fundamentals, with very low substitution risk

26% OWNED BY JANGADA THROUGH ITS SHAREHOLDING IN VALORE METALS CORP.

Capital Structure TSX-V: VO

Issue and Outstanding 90.4 million

Fully Diluted 103.2 millionMarket Cap C$21.7 millionCash Position C$1.3 million

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Source: ValOre Q4 Update - Pedra Branca PGM-Au Project, Northeastern Brazil


SUMMARY

Large proven resource with significant expansion potential

Consistent, high grade mineralisation confirmed at surface & at depth

Favourable regional geology translates into scalability

Clear path to resource development & PEA in timely manner

Robust potential economics supported by established infrastructure available

Exposure to exceptional PGM-Au project through 26% interest in ValOre

Currently short-term liquidity equivalent to Market Capitalisation

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DISCLAIMER & FORWARD LOOKING STATEMENTS

The information contained in this document (the “Presentation”) has been prepared by Jangada Mines plc (the “Company”) solely for informational purposes. It is subject to material updating, completion, revision, verification and further amendment.

This Presentation has not been approved by an authorised person in accordance with Section 21 of the Financial Services and Markets Act 2000, as amended (“FSMA”). This Presentation does not constitute, and the Company is not making, an offer of transferable securities to the public within the meaning of sections 85B and 102B of FSMA. The Presentation is simply a summary of the assets of the Company but existing and prospective investors should rely only on the Admission Document (which can be found on the investor page of the website) and must rely on their own examination of the legal, taxation, financial and other consequences of an investment in the Company, including the merits of investing and the risks involved. Prospective investors should not treat the contents of this Presentation as advice relating to legal, taxation or investment matters and are advised to consult their own professional advisers concerning any acquisition of shares in the Company.

Certain of the information contained in this Presentation has been obtained from published sources prepared by other parties. Certain other information has been extracted from unpublished sources prepared by other parties which have been made available to the Company. The Company has not carried out an independent investigation to verify the accuracy and completeness of such third party information. No responsibility is accepted by the Company or any of its directors, officers, employees or agents for the accuracy or completeness of such information.

The securities mentioned herein have not been and will not be, registered under the U.S. Securities Act of 1933, as amended (the “Securities Act”), or under any U.S. State securities laws, and may not be offered or sold in the United States of America or its territories or possessions (the “United States”) unless they are registered under the Securities Act or pursuant to an exemption from or in a transaction not subject to the registration requirements of the Securities Act. Neither this Presentation nor any copy of it may be taken or transmitted into the United States, or distributed, directly or indirectly, in the United States, or to any "US person" as defined in Regulation S under the Securities Act of 1933, including US resident corporations or other entities organised under the laws of the United States or any state thereof or non-U.S. branches or agencies of such corporations or entities. This Presentation is not being made available to persons in Australia, Canada, Japan, the Republic of Ireland, the Republic of South Africa or any other jurisdiction in which it may be unlawful to do so and it should not be delivered or distributed, directly or indirectly, into or within any such jurisdictions.

All statements of opinion and/or belief contained in this Presentation and all views expressed represent the directors’ own current assessment and interpretation of information available to them as at the date of this Presentation. In addition, this Presentation contains certain "forward-looking statements", including but not limited to, the statements regarding the Company’s overall objectives and strategic plans, timetables and capital expenditures. Forward-looking statements express, as at the date of this Presentation, the Company’s plans, estimates, forecasts, projections, opinions, expectations or beliefs as to future events, results or performance. Forward-looking statements involve a number of risks and uncertainties, many of which are beyond the Company’s control, and there can be no assurance that such statements will prove to be accurate. No representation is made or assurance given that such statements or views are correct or that the objectives of the Company will be achieved. The reader is cautioned not to place reliance on these statements or views and no responsibility is accepted by the Company or any of its directors, officers, employees or agents in respect thereof. The Company does not undertake to update any forward-looking statement or other information that is contained in this Presentation. Neither the Company nor any of its shareholders, directors, officers, agents, employees or advisers take any responsibility for, or will accept any liability whether direct or indirect, express or implied, contractual, tortious, statutory or otherwise, in respect of, the accuracy or completeness of the information contained in this Presentation or for any of the opinions contained herein or for any errors, omissions or misstatements or for any loss, howsoever arising, from the use of this Presentation.

Neither the issue of this Presentation nor any part of its contents is to be taken as any form of contract, commitment or recommendation on the part of the Company or the directors of the Company to proceed with any transaction or accept any offer and the right is reserved to terminate any discussions or negotiations with any prospective investors. The Company reserves the right without any notice or liability to the recipient of this Presentation or its advisers to: (i) change any of the procedures, timetable or requirements or terminate negotiations at any time prior to the signing of any binding agreement with investors; (ii) provide different information or access to information to different persons; (iii) agree variations to the property, rights and liabilities comprised in the Company; and (iv) negotiate at the same time with more than one person. In no circumstances will the Company be responsible for any costs, losses or expenses incurred in connection with any appraisal or investigation of the Company. This Presentation should not be considered a recommendation by the Company or any of its affiliates in relation to any prospective acquisition of shares in the Company. No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of the Company or any of its affiliates, any of its directors, officers or employees or any other person as to the accuracy, completeness or fairness of the information or opinions contained in this Presentation and no responsibility or liability is accepted for any such information or opinions or for any errors or omissions.

JORC Exploration Target - The numbers of volume, tonnage and grades herein presented are represented as JORC Exploration Target as defined and, in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves (“the JORC Code” 2012 Edition), which states that: “An Exploration Target is a statement or estimate of the exploration potential of a minerals deposit in a defined geological setting where the statement or estimate, quoted as a range of tonnes and a range of grade (or quality), relates to mineralisation for which there has been insufficient exploration to estimate a Mineral Resource

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CONTACTSJANGADA MINES

Brian McMaster20 North Audley Street

LondonW1K 6LX

[email protected]

[email protected]

Luis AzevedoJornalista Ricardo Marinho 360

Salal113, Barra Da TijucaRio de JaneiroCEP 22631350

[email protected]

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advancing the pitombeiras vanadium project highly exposed to … · 2020-06-23 · corporate...

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