- Jaguar Mining Inc. (JAG) confirmed gold mineralization continuity from recent drilling at its Pilar Mine Complex
- Drilling at Pilar targeted extensions on existing mineralized structures which are accessible from throughout the mine
- Results are consistent with the company’s mineral reserve and resource estimate for both grade and width
- A directional drilling program will start during Jaguar’s third fiscal quarter targeting projected depth extensions
- Jaguar Mining Inc. (JAG) is up 2.41 per cent trading at $3.40 per share as of 3:05 p.m. ET
Jaguar Mining (JAG) has confirmed gold mineralization continuity from recent drilling results at its Pilar Mine Complex in Brazil.
The company’s drilling at Pilar targeted extensions on existing mineralized structures, which are accessible from throughout the mine. Drilling at shallow levels aimed at adding production areas while deeper drilling primarily worked at adding to the life of the mine.
Drill results are consistent with the company’s mineral reserve and resource estimate for both grade and width and include several important intersections with substantial grade thicknesses. Drilling in the lowermost levels of the mine continues to demonstrate consistency in the expected ounces per vertical metre profile.
Vern Baker, President and CEO of Jaguar, stated,
“Drilling and development at Pilar Mine have validated our expectation of continuing economic mineralization at depth. Our drilling on level 15 [currently being developed] has indicated that the ounce per vertical meter mineral resource has increased in comparison to the level 12 mineral resource.”
Jaguar stated a directional drilling program will start during its third fiscal quarter, which will target the projected depth extensions located down plunge of the principal mineralized structures.
“Over the next year, we expect to develop the next two levels [16 and 17] while building the resource base to go significantly deeper… intersections with excellent grade and one very anomalous grade intercept have brought excitement to our team working on this resource extension,’ Baker said.
Jaguar Mining Inc. (JAG) is up 2.41 per cent, trading at $3.40 per share as of 3:05 p.m. ET