Jaguar Mining Announces Encouraging 2023 Exploration Results

Jaguar Mining Inc., based in Toronto, Canada, has disclosed positive outcomes from its exploration endeavors in 2023, spotlighting promising results from several new target trends within its extensive property holdings in Minas Gerais, Brazil. The company's exploration program has notably identified high-grade diamond drilling intercepts and trench results alongside new mineralized strikes.

Notable achievements include a diamond drilling intercept at the Carancas target, yielding 16.69 g/t Au over a 4.8m true width, and standout trench and rock-chip sampling results that delineated a 3km mineralized strike at the Rio do Peixe trend near the Paciência Complex. Furthermore, a significant soil anomaly has expanded the exploration potential of the Paciência Complex southwards by 4km.

Jaguar Mining's aggressive exploration strategy in 2023 has been pivotal in advancing its portfolio across the Iron Quadrangle, leveraging the acquisition of IAMGOLD's Brazilian assets to enhance its exploration footprint. The year's efforts culminated in the expansion of mineral reserves at the Faina project, an increase in mineral resource inventories, and the discovery of a new high-grade mineralized zone at the Pilar mine.

The company outlined its systematic approach to exploration, focusing on high-potential targets within its 56,000 Ha land package. This strategy employs advanced drilling, trenching, and sampling methodologies to refine geological models and target high-grade, thick mineralized zones more effectively.

The exploration initiatives underscore Jaguar Mining's commitment to discovering and developing high-quality assets, contributing to its long-term growth strategy in the prolific Iron Quadrangle region.