Jangada Mines (AIM:JAN) announced it has completed and interpreted the geophysics programme at its Molly Gold Project in Brazil's Tapajós Province, identifying 15 geophysical targets, nine of them ranked as high priority.
The AIM-listed gold and polymetallic explorer said the survey results showed a strong correlation between the newly mapped structures and known gold mineralisation, reinforcing its geological model for the 6,656-hectare project.
The programme comprised a 368.2 line-kilometre MagDrone magnetic survey across 3,320 hectares and an 11.8 line-kilometre ground induced polarisation (IP) survey at the Vivi and Molly 2 targets, run between 1 July and 7 November.
The priority targets sit across five areas: South Boomerang (four targets), Vivi (one), Esmeril (one), Eastpot (one) and West Boomerang (two, a newly identified target area), each already carrying gold-bearing veins, historical artisanal workings or recorded gold occurrences.
The MagDrone data mapped a network of east-west and northeast-southwest structures, with secondary northwest-southeast trends, consistent with regional controls on gold mineralisation across the Tapajós Province, plus a prominent structural corridor running along the southern part of the project.
Jangada checked the geophysics against ground already proven by drilling or surface sampling: the Molly 1 deposit, which carries a JORC (2012) inferred resource of 130,000 ounces of gold at 2 g/t, and Molly 2, where surface samples previously returned up to 370.41 g/t gold, both sit on the southern structural corridor identified by the survey.
The Vivi vein swarm, where surface samples have returned up to 306.23 g/t gold, also coincides with a geophysical target, as does the Esmeril area, where grab samples have returned up to 26.56 g/t gold.
The ground IP survey at Vivi found zones of high chargeability and resistivity, consistent with sulphide-bearing quartz veins, lining up along the projected trace of the mapped veins and continuing beyond the depth and extent of the exposed outcrops.
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"These are excellent results that reinforce our geological model and highlight the significant exploration potential of the 6,656-hectare Molly Gold Project," said chief executive Paulo Misk, adding that the geophysical signatures correlating with known mineralisation at Molly 1, Molly 2 and Vivi "give us confidence in applying this approach across the wider project."
Jangada is now running a fully funded 11-hole diamond drilling programme of approximately 1,400 metres, split across seven holes (900 metres) at Vivi, three holes (300 metres) at Molly 2 and one hole (200 metres) at South Boomerang.
Three holes have been completed so far, each intersecting visible mineralisation, with samples now undergoing assay testing.
Jangada said it expects to report assay results from the ongoing drilling programme in due course.