on Jaguar Mining, Inc. (isin : CA47009M8896)
Jaguar Mining Provides Update on Faina Development and Drilling Activities
Jaguar Mining Inc. has released an update on its Faina deposit's development and drilling activities. Located in the state of Minas Gerais, Brazil, Faina is a north-western extension of the ore zones at the Turmalina mine.
During Q2 2024, Turmalina achieved a milestone by milling the first tonnage from Faina, producing 414 gold ounces. High-grade mineralization has been intersected, including results such as 8.95 g/t Au over 14.29m, confirming the company's high confidence in the orebody.
To date, Jaguar Mining has invested approximately $16 million in Faina's development. The company reported probable mineral reserves of 132 koz and expected production growth to over 300,000 tonnes per year by 2026.
Vern Baker, CEO of Jaguar Mining, highlighted the progress and the expected strong growth at Faina in 2025, as the company aims to expand its mineral resources inventory and refine its geological model.
R. P.
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