en.Wedoany.com Reported - UK-based Jangada Mines plc (AIM: JAN) released a project update on June 11, 2026, confirming that its latest drilling at the Paranaíta Gold Project in Mato Grosso, Brazil, has identified a large-scale hydrothermal gold system. The company expects the TP2 target to add over 50,000 ounces of inferred resources, further expanding the project's existing 210,000-ounce gold resource base.
The Paranaíta Gold Project is located in the Alta Floresta-Juruena Gold Province in Brazil. Jangada Mines is a Brazil-focused natural resources company listed on the Alternative Investment Market (AIM) of the London Stock Exchange. CEO Paulo Misk stated that the drilling results confirm a 1.2-kilometer-long mineralized structure, the first of five high-grade targets identified by the company.
This drilling campaign identified a mineralized structural zone approximately 1,200 meters long along a northeast strike at the TP2 target. Assay results show high-grade gold mineralization, with hole DDJG25-051 intersecting 1.32 meters at 43.61 g/t gold, and hole DDJG25-02 intersecting 11.20 meters at 0.83 g/t gold. Over 20 artisanal mining pits have been discovered in the project area, many of which have yet to be mapped and sampled, indicating significant untapped exploration potential.
Jangada Mines plans to conduct the next phase of exploration, including high-resolution MagDrone aeromagnetic surveys (approximately 135 line-km) and ground induced polarization surveys (approximately 22.4 line-km), to further refine targets. Following geophysical work, subsequent diamond drilling will be carried out to test priority mineralized zones and assess resource expansion potential along strike and at depth. Misk stated that the company has sufficient funding to support the next phase of exploration at the Paranaíta project. In addition to the Paranaíta project, the company is also advancing work on the Molly Gold Project, which hosts 130,000 ounces of gold resources.
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