TORONTO, April 8, 2015 /PRNewswire/ --
TSX-V: JAG
Jaguar Mining Inc. ("Jaguar" or the "Company") (JAG:
TSX-V) today announced multiple high-grade drill
intercepts generated from definition drilling within the current
indicated resource envelope at the Turmalina Mine.
Drill hole FTS1125 intercepted 23.71 grams per tonne Au ("g/t
Gold") over 14 meters, including 41.27 grams per tonne Au over 7.6
meters, while drill hole FTS1130 intercepted 23.62 grams per tonne
Au over 8.8 meters and drill hole FTS1145 intercepted 20.15 grams
per tonne Au over 8.7 meters.
George Bee, Chief Executive
Officer of Jaguar, stated, "These results reinforce our
current Mineral Reserve and Resource estimation (see news release
dated March 25, 2015) and the
continuity of higher grades over significant thicknesses at
Turmalina Orebody A."
All drilling intercepts highlighted are down plunge of current
underground workings at Turmalina Ore Body A.
Table 1 below contains intersections drilled between
September 2014 and January 2015, and are contained within the
current indicated resource envelope. With these results, the
Company has greater geologic confidence as drill density has been
increased, thereby providing the opportunity to upgrade current
resources to a higher category while the grades reported reinforce
the trend of increasing ounces per vertical meter as depth
increases.
The impact of the intercepts was not incorporated into the
reserve/resource model update that was disclosed on March 25, 2015.
From To Length Au Grade
Hole ID Date (m) (m) (m) (g/t)
FTS1084 09-2014 95.8 101.5 5.8 12.38
FTS1117 09-2014 116.5 127.1 10.7 7.86
FTS1118 09-2014 101.4 107.1 5.7 11.66
including 09-2014 102.3 105.2 2.9 19.40
FTS1119 10-2014 112.8 118.4 5.6 10.22
FTS1121 10-2014 119.2 124.8 5.6 10.17
FTS1123 09-2014 132.9 135.7 2.8 9.05
FTS1124 01-2015 168.6 170.6 2.0 8.09
FTS1125 01-2015 136.2 150.2 14.0 23.71
including 01-2015 142.6 150.2 7.6 41.27
FTS1126 01-2015 125.6 130.5 4.8 6.15
FTS1130 01-2015 139.4 148.1 8.8 23.62
FTS1145 03-2015 140.7 149.4 8.7 20.15
The effect of incorporating the new drill date into the
reserve/resource model will only be ascertained and quantifiable
once a reserve and resource model update is conducted, later in the
year, once additional data is gathered.
Quality Control
Jaguar Mining has implemented a quality-control program that
includes insertion of blanks, commercial standards and duplicate
core samples in order to ensure best practice in sampling and
analysis. NQ and BQ size drill core is saw cut and half the drill
core is sampled in standard intervals according to geological
characteristics such as lithology and hydrothermal alteration
contents. The remaining half of the core is stored in a secure
location. Rock channel sampling of the underground development
follows the same standard intervals of the drill core. The drill
core samples are transported in security sealed bags to the
in-house Roça Grande Mine Laboratory, Caeté, Minas Gerais and
occasionally to the independent SGS Geosol laboratory in
Vespasiano, Minas Gerais. The rock chip samples are transported in
security sealed bags to the Roça Grande Mine Laboratory, Caeté,
Minas Gerais. The preparation and analysis are all conducted at the
respective facilities, either at the Roça Grande Mine Laboratory in
Caeté, MG or at the SGS Geosol Laboratory in Vespasiano, MG. The
Roça Grande Mine Laboratory does not carry an ISO certification.
The SGS Geosol Laboratory is ISO 9001 accredited. As part of
in-house QA/QC the Roça Grande Mine Laboratory inserts certified
gold standards, blanks and pulp duplicate samples.
Qualified Person
Scientific and technical information contained in this press
release has been reviewed and approved by Marcos Dias Alvim, BSc
Geo., MAusIMM (CP), Project Development Manager, 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 ("NI43-101").
About Jaguar Mining
Jaguar is a gold producer with mining operations in a prolific
greenstone belt in the state of Minas Gerais, Brazil. Additionally, Jaguar wholly owns the
large-scale Gurupi Development Project in the state of Maranhão,
Brazil. In total, the Company owns
mineral claims covering an area of approximately 197,000-hectares.
Additional information is available on the Company's website
at http://www.jaguarmining.com.
Forward Looking Statements
Certain statements in this press release constitute
"Forward-Looking Statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Forward-looking statements include, but are
not limited to, management's assessment of Jaguar's future plans
and operation. Certain statements throughout this press release
constitute forward-looking statements (forecasts) under applicable
securities laws relating to future events or future performance.
Forward-Looking Statements can be identified by the use of words
such as "are expected", "is forecast", "is targeted",
"approximately", "plans", "anticipates" "projects", "anticipates",
"continue", "estimate", "believe" or variations of such words and
phrases or statements that certain actions, events or results
"may", "could", "would", "might", or "will" be taken, occur or be
achieved. Forward-Looking Statements involve known and unknown
risks, uncertainties and other factors, which may cause the actual
results or performance to be materially different from any future
results or performance expressed or implied by the Forward-Looking
Statements. These factors include the uncertainties associated with
the exploration and development of mineral properties, in
interpreting drilling results and other geological data,
fluctuating gold prices and monetary exchange rates, the
possibility of project cost delays and overruns or unanticipated
costs and expenses, uncertainties relating to the availability and
costs of financing needed in the future for the continuance of the
operations and development of the reserves and resources,
uncertainties related to production rates, timing of production and
the cash and total costs of production. Forward-looking information
is based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by
Jaguar and described in the forward-looking information. The
forward-looking information contained in this press release is made
as of the date hereof and Jaguar undertakes no obligation to update
publicly or revise any forward-looking information, whether as a
result of new information, future events or otherwise, unless
required by applicable securities laws. The forward-looking
information contained in this press release is expressly qualified
by this cautionary statement.
Forward-Looking Statements involve known and unknown risks,
uncertainties and other factors may cause the actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements. Such risk
factors include, among risks associated with exploration and
development of mineral properties, the uncertainties involved in
interpreting drilling results and other geological data,
fluctuating gold prices and monetary exchange rates, the
possibility of project cost delays and overruns or unanticipated
costs and expenses, uncertainties relating to the availability and
costs of financing needed in the future for the continuance of the
operations and development of the reserves and resources,
uncertainties related to production rates, timing of production and
the cash and total costs of production, as well as those factors
disclosed in the Company's current Annual Information Form and
Management's Discussion and Analysis, as well as other public
disclosure documents, available on SEDAR
athttp://www.sedar.com. Although the Company has
attempted to identify important factors that could cause actual
actions, events or results to differ materially from those
described in forward-looking statements, there may be other factors
that cause actions, events or results not to be as anticipated,
estimated or intended. There can be no assurance that
forward-looking statements will prove to be accurate. The
forward-looking statements contained herein are presented for the
purposes of assisting investors in understanding the Company's
plan, objectives and goals and may not be appropriate for other
purposes. Accordingly, readers should not place undue reliance on
forward-looking statements. These Forward-Looking Statements
represent the Company's views as of the date of this press release.
The Company anticipates that subsequent events and developments may
cause the Company's views to change. Factors, which could cause
results or events to differ from current expectations, include,
among other things, actions taken against the Company by
governmental agencies and securities and other regulators and other
factors not currently viewed as material that could cause actual
results to differ materially from those described in the
Forward-Looking Statements. The Company does not undertake to
update any Forward-Looking Statements, either written or oral, that
may be made from time to time by or on behalf of the Company
subsequent to the date of this discussion except as required by
law.
Derrick Weyrauch, Chief Financial
Officer, Phone: +1-416-628-9601, dweyrauch@jaguarmining.com