Business
Jaguar Mining Reports 23,483 Ounces Produced in Second Quarter
Pilar Mine Achieves New Record Production Strong Free Cash Flow and Liquidity Ope...
About this update from Jaguar Mining Inc.
[{"type":"text","content":"Jaguar Mining Reports 23,483 Ounces Produced in Second QuarterPilar Mine Achieves New Record ProductionStrong Free Cash Flow and Liquidity Operational Update on COVID-19 Action PlanTORONTO, ON / ACCESSWIRE / July 7, 2020 / Jaguar Mining Inc. (\"Jaguar\" or the \"Company\") (TSX:JAG) today announced interim gold production results for the second quarter of 2020 (\"Q2 2020\"). The Company is pleased to announce that it continues to show consistent quarter-over-quarter operational improvement at the Pilar Gold Mine (\"Pilar\") and Turmalina Gold Mine (\"Turmalina\") located in Minas Gerais, Brazil. Financial results for Q2 2020 will be reported and filed on SEDAR on or before August 10, 2020. All figures are in US Dollars, unless otherwise expressed.Vern Baker, CEO, commented: \"We are pleased to be able to announce our continued progress toward our goal of sustainable production of 25,000 ounces per quarter. Our teams at Pilar and Turmalina continue to make steady strides to build the foundation of a strong company. Jaguar's gold production of 23,483 ounces combined with 2,445 development metres and 14,278 Diamond Drilling meters demonstrate a strong performance on all key aspects of our plan. I personally would like to thank all our team members for their continuing commitment to building a strong company during a quarter with COVID-19 issues.\"Q2 2020 Operating HighlightsConsolidated gold production increased 28% with 23,483 ounces compared to 18,366 ounces in Q2 2019, demonstrating the fifth consecutive quarter of increase in sustainable production. Grade also increased to 4.00 g/t compared to 3.48 g/t in Q2 2019;Pilar gold production increased 28% and set a new production record with 13,452 ounces compared to 10,543 ounces in Q2 2019;Turmalina gold production increased 28% with 10,031 ounces, compared to 7,823 ounces in Q2 2019;Total development metres increased 22% to 2,445 metres compared to 2,009 metres in Q2 2019. Primary development meters increased 30% to 1,707 metres compared to 1,310 metres in Q2 2019. Secondary development meters increased 6% to 738 metres compared to 699 metres in Q2 2019.Total definition, infill and exploration drilling increased 74% to 14,278 metres compared to 8,189 metres in Q2 2019. The additional drilling is expected to allow Jaguar to continue expanding Mineral Resources in 2020;Strong treasur...