11th Jun 2018 12:46
LONDON (Alliance News) - Jangada Mines PLC said Monday it received positive results from recent metallurgical test work done at its Pedra Branca platinum group metals project located in north east Brazil.
Jangada say the results "demonstrate that the inclusion of magnetic separation could materially positively impact the economics" of the project.
The natural resources company said the addition of magnetic separation increased recoveries of platinum group metals and "yielded unexpectedly high gold and chrome grades" in pre-concentrate.
Samples showed pre-concentrate platinum group metals grades up to 8.1 grammes per tonne. Average gold grades of 15 grammes per tonne, with the highest being 75.5 grammes per tonne. And pre-concentrate chrome grades at 42%.
Jangada will now incorporate the magnetic pre-concentration into an "optimised" flow sheet, which it expects will result in "further significant efficiencies including reduced plant size, capital expenditure and operating expenditure".
Chairman Brian McMaster said: "The potential of this project keeps improving. These metallurgical tests not only underline the current potential but highlight that, with the inclusion of magnetic separation in a processing circuit, we can significantly improve the economics of Pedra Branca. On conventional processing, the platinum group metals recoveries are already in line with the world's low-cost producers' recoveries, with metal credits including nickel, copper and cobalt adding further value. With magnetic separation, we can raise general recovery rates and reduce the feedstock requirements for recovery/production targets, which in turn lowers the capital expenditure and operating expenditure numbers. The unexpected recovery rates from gold were a further bonus. We are now looking to include these findings into future studies, which when finalised will demonstrate the true potential of South America's largest platinum group metals project."
Shares in Jangada Mines were up 2.8% at 4.37 pence each.
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