Jaguar Mining's Pilar Mine Reveals a Potentially Transformative High-Grade Zone

Toronto-based Jaguar Mining Inc. has reported a significant discovery within the BA-Torre structure of its Pilar mine in Brazil. The company crossed a zone of high grade mineralization over a continuous length of over 130 meters during development in exploratory access at Level 15.2. This area had already been identified through diamond exploration drilling in early 2023, suggesting a positive outlook for the future production capacity of the Pilar mine.

Highlighted individual channel results include 20.2 g/t gold over an estimated true channel width of 9.6m, 21.0 g/t over 7.0m, and 23.2 g/t over 5 .6m, indicating significant continuity of high-grade mineralized material. This, combined with follow-up drilling which also revealed high-grade intersections in the BA-Torre structure, reinforces the idea of a potentially transformational production area for the Pilar mine.

The BA-Torre structure had historically been the main source of production for the Pilar mine up to level 7. Below this level, mineralization had declined in both grade and thickness, shifting interest to the neighboring BF structure . The rediscovery of high grades at levels 15 and 16 now opens new avenues to improve production in the near term with additional diamond drilling currently underway.