Jaguar Mining (TSX:JAG) has reported new results from exploration and growth activities at the Turmalina Complex in Minas Gerais, Brazil. The company has continued to expand on previous results at the project from several priority diamond drill campaigns begun in the fourth quarter of 2022. These campaigns focussed on high-grade extensions of mineralizations discovered earlier in 2022.

New exploration diamond drilling was focussed on high-grade mineralization in the C Structure at Turmalina, follow-up step-out drilling at the Pontal South Discovery, as well as high-grade targets within the B Structure, which were also at shallow levels in the mine. 

Jaguar Mining sees the results so far as encouraging, with high grades over mineable widths reported from various areas within the C and B Mineralized Structures, including the identification of a new structure within the footwall of the C Structure.

At the Pontal South Discovery, the company’s step-out drilling has demonstrated continuity of high-grade mineralization to depth down plunge. Jaguar Mining is also drilling at the Faina Growth Project, completing approximately 15,359 metres of infill resource conversion drilling across 46 holes with the goal of converting the published Inferred Mineral Resource to an Indicated Mineral Resource. 

Drilling at the Faina Growth Project confirmed high-grade characteristics of this mineralization and continuity within the deposit. Drilling also underpins geological and grade models for the important project. Jaguar Mining expects to publish updated Mineral Reserves and Mineral Resources with the AIF sometime in March 2023. 

Vern Baker CEO of Jaguar Mining, commented in a press release: “I am very excited about the positive drill results reported today as they support the Company’s organic growth plans and ultimately our future production profile. The high grades in the C and B Structures are at shallow levels and close to development in these sectors of the mine which justifies our plan to focus production in these areas and support ongoing underground access development towards the Faina Resource. The success of infill drilling at Faina and the continued definition of new mineralized areas along the main structural trend continue to demonstrate the upside potential of this trend.”

Highlights from the results are as follows:

• 22.87 g/t Au over an estimated true width of 5.4m in Orebody CNW
• 13.54 g/t Au over an estimated true width of 6.4m in Orebody B
• 7.98 g/t Au over 5.2m* in Pontal South
• 9.51 g/t Au over 9.8m*in Faina Resource Conversion Infill Drilling * (Drilled width – true width unknown)

C- Structure Mineralization

11.56 g/t Au over 4.6m

8.08 g/t Au over 6.8m

22.87 g/t Au over 5.4m

B- Structure Mineralization

11.58 g/t Au over 7.6m

9.60 g/t Au over 6.2m

13.54 g/t Au over 6.4m

Pontal South Exploration Target

2.44 g/t Au over 19.6 m* (including 3.28 g/t Au over 12.7m*)

4.69 g/t Au over 10.1 m* (including 7.98 g/t Au over 5.2m*)

* (Drilled widths -true width unknown)

Faina Project Infill Drilling Results

4.40 g/t Au over 23.3m* (including 9.51 g/t Au over 9.8 m*)

7.10 g/t Au over 11.0m* (including 8.20 g/t Au over 9.0m*)

9.57 g/t Au over 6.80 m* (including 77.7 g/t Au over 0.8 m*)

* (Drilled widths -true width unknown))

Table 1 – Best Drilling Intersections C-Structure with Grade x Thickness (GT) > 25 in the Turmalina Complex

Summary of Diamond Drill Intersections Orebody C Structure Turmalina Mine
Hole ID	From (m)	To (m)	DownHole Interval (m)	Estimated True Width (ETW) (m)	Gold Grade (g/t Au)	GT (Grade x ETW)
FTS2165	60.4	70.3	9.82	6.6	3.88	26
FTS2280	132.4	138.8	6.34	4.6	11.56	53
FTS2285	147.1	155.8	8.67	6.80	8.08	55
FTS2218	159.7	165.7	6.05	5.4	22.87	124

Table 2 – Best Drilling Intersections B-Structure

Summary of Diamond Drill Intersections Orebody B Structure Turmalina Mine
Hole ID	From (m)	To (m)	DownHole Interval (m)	Estimated True Width (ETW) (m)	Gold Grade (g/t Au)	GT (Grade x ETW)
GR390LM01	65.3	84.4	19.1	7.6	11.58	88
B390LM12	4.6	11.6	7.0	6.2	9.60	59
B390LM11	2.3	9.8	7.5	6.4	13.54	86

Table 3 – Best Drilling Intersections Pontal South

Summary of Diamond Drill Intersections Orebody Pontal South Structure
Hole ID	From (m)	To (m)	DownHole Interval (m)	Gold Grade (g/t Au)	GT* (Grade x Thickness)
PTL105	255.0	265.1	10.1	4.69	47
Including	258.0	263.2	5.2	7.98	41

GT*: (Drilled width – true width unknown)

Table 4 – Faina Resource Conversion Infill Drilling – Best Intersections

Summary of Diamond Drill Intersections
Faina Resource Conversion Infill Drilling – Best Intersections
Hole ID	From (m)	To (m)	DownHole Interval (m)	Gold Grade (g/t Au)	GT* (Grade x Thickness)
FUH180	216.2	236.9	20.8	2.52	52
Including	222.4	227.0	4.6	6.28	29
FUH183	192.6	205.7	13.1	3.69	48
Including	204.7	205.7	1.0	24.80	25
FUH185	61.9	77.5	15.6	3.27	51
Including	74.5	77.5	3.0	9.42	28
FUH185	158.9	168.7	9.8	4.58	45
Including	164.0	168.7	4.7	7.28	34
FUH193	146.8	170.9	24.1	1.92	46
Including	160.6	162.3	1.7	8.27	14
FUH196	279.0	290.0	11.0	7.10	78
Including	280.0	289.0	9.0	8.20	74
FUH205	289.2	296.0	6.8	9.57	65
Including	289.2	290.0	0.8	77.70	62
FUH208	196.5	224.0	27.6	2.22	61
Including	201.5	209.2	7.7	5.18	40

GT*: (Drilled width – true width unknown)

 

 

The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.