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Jaguar Mining Provides Update on Faina Development and Drilling Activities
HIGH GRADES AND MINERALIZED THICKNESSES IN DEVELOPMENT AND DIAMOND DRILL HOLES ON H-LENS DIA...
About this update from Jaguar Mining Inc.
[{"type":"text","content":"Jaguar Mining Provides Update on Faina Development and Drilling ActivitiesHIGH GRADES AND MINERALIZED THICKNESSES IN DEVELOPMENT AND DIAMOND DRILL HOLES ON H-LENSDIAMOND DRILLING - H LENS8.95 g/t Au over an estimated true width of 14.29m in hole FH425LM075.44 g/t Au over an estimated true width of 18.23m in hole FH425LM095.17 g/t Au over an estimated true width of 17.96m in hole FH425LM12TORONTO, ON / ACCESSWIRE / August 29, 2024 / Jaguar Mining Inc. (\"Jaguar\" or the \"Company\") (TSX:JAG)(OTCQX:JAGGF) is pleased to provide an update on mine development and drilling at its Faina deposit (\"Faina\"). Faina is a north-western extension of the ore zones at the Turmalina mine, as part of the Company's MTL mining complex located in the state of Minas Gerais, Brazil, approximately 130 kilometers northwest of the city of Belo Horizonte.During the second quarter (see press release dated August 7, 2024), Turmalina achieved a milestone with the first tonnage from the Faina deposit being milled. Faina ore generated by access development was processed at the Turmalina plant which produced 414 gold ounces. Continuing development and first stope production from the Faina deposit are expected in the second half of 2024.Probable Mineral Reserves at Faina (as at December 2023) are reported as 132 koz (787 kt @ 5.22 g/t Au) within Measured and Indicated Mineral Resources of 233 koz (1,427 kt @ 5.08 g/t Au) and Inferred Mineral Resources of 232 koz (1,420 kt @ 5.09 g/t Au) (see Press Release dated December 18, 2023). Mineral Reserves and Mineral Resources at Faina will be updated with 2024 metrics in the first quarter of 2025.Since development of Faina commenced in 2022, approximately 4,439m of primary access development from the Turmalina mine to the Faina deposit has been achieved, with approximately 1,158m of development completed since the start of 2024, including approximately 155m of secondary productive development. To date, the Company has invested approximately US$16 million in capital at Faina which has mainly been spent on infill diamond drilling, metallurgical test work, access development and studies.Vern Baker, President, and CEO of Jaguar Mining stated: \"Progress at Faina on ramps and orebody access is advancing better than expected. We are also pushing definition diamond drilling as development opens up positions for diamond dri...