6,000m grid drill campaign will target shallow oxide maiden mineral resource.
Reverse circulation drilling will evaluate an area 1,000m along strike by 200m width to a depth of 30-50m defined by gold in soil anomalies and mineralized drill intersections.
Toronto, September 7, 2021 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) is pleased to announce that a 6,000m reverse-circulation drilling campaign has commenced at the Zona Basal Target (“ZB”) located near the operating Turmalina Gold Mine and Mill Complex (MTL) in Minas Gerais, Brasil. ZB is defined by an extensive gold in soil anomaly (> 100ppb Au) and successful phase one diamond drilling (best intersection 2.39 gt Au over a drilled width of 20,45m (see press-release dated 16, February 2020).
The current grid infill drilling campaign is targeting a shallow oxide maiden resource within the surface exposure and shallow supergene (oxide-saprolite) regolith profile within a central area which extends some 1,000m along strike by 200m width (across strike) and to a depth of 30-50m.
A total of 120 reverse-circulation holes to an average depth of 50m are planned along a 50m x 50m grid pattern. Drilling is expected to take three months with expected assay results to be reported on by year end 2021. The estimation of the maiden mineral resource is expected in late Q1-2022.
Jon Hill, Vice President, Geology and Exploration, Jaguar Mining commented: “We are confident ZB has the potential to deliver an additional and important oxide mineral resource, as either supplementary mill feed at the Turmalina Mill, leveraging existing excess capacity, or as a stand-alone heap leach facility. Closer spaced drilling will provide important additional geological and grade data at an appropriate scale to inform targeting of higher-grade, structurally controlled mineralization extending beneath the near surface, open pit mineable oxide zones.”
Vern Baker, CEO, Jaguar Mining commented: “Jaguar sees a great opportunity in the Zona Basal target to grow our resources with material that has very strong potential economics. The first step is being taken to define the near surface oxide resource available. Zona Basal clearly reflects our exploration team´s ability to find high quality exploration projects within short distances of our existing capital base and operating teams. We expect to move forward quickly with this project once the data is accumulated and analysed.”
Figure 1 – Location of Zona Basal Target relative to Jaguar´s Operations in Minas Gerais, Brasil.
Table 1 – Summary Statistics of Exploration Activities completed at Zona Basal to date.
|Zona Basal Exploration||No of holes / samples||Metres|
Table 2 – Planned reverse circulation infill drilling programme (September – November 2021)
2021 RC Planning
|#RC DH||Average Depth||Total. Metres|
Figure 2. Map showing planned reverse circulation infill drilling grid (September – November 2021). Background shows gold in soil anomaly > 100ppb Au (Red) and silver in soil anomaly (Blue).
Scientific and technical information contained in this press release has been reviewed and approved by Jonathan Victor Hill, BSc (Hons) (Economic Geology - UCT), FAUSIMM, Vice President Geology and Exploration, who is an employee of Jaguar Mining Inc., and is a "qualified person" as defined by National Instrument 43-101 - Standards of Disclosure for Mineral Projects ("NI 43-101").
The Iron Quadrangle
The Iron Quadrangle has been an area of mineral exploration dating back to the 16th century. The discovery in 1699-1701 of gold contaminated with iron and platinum-group metals in the south-eastern corner of the Iron Quadrangle gave rise to the name of the town Ouro Preto (Black Gold). The Iron Quadrangle contains world- class multi-million-ounce gold deposits such as Morro Velho, Cuiabá, and São Bento. Jaguar holds the second largest gold land position in the Iron Quadrangle with just over 62,000* hectares (*includes Iamgold JV Agreement Areas).
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes and a large land package with significant upside exploration potential from mineral claims. The Company's principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the Turmalina Gold Mine Complex and Caeté Mining Complex (Pilar and Roça Grande Mines, and Caeté Plant). The Company also owns the Paciência Gold Mine Complex, which has been on care and maintenance since 2012. The Roça Grande Mine has been on temporary care and maintenance since April 2019. Additional information is available on the Company's website at www.jaguarmining.com
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