Business
Jaguar Mining Reports First Quarter Operating Results
Company Maintains Strong Treasury & Liquidity Updates on COVID-19 Impact on Operati...
About this update from Jaguar Mining Inc.
[{"type":"text","content":"Jaguar Mining Reports First Quarter Operating ResultsCompany Maintains Strong Treasury & LiquidityUpdates on COVID-19 Impact on OperationsTORONTO, ON / ACCESSWIRE / April 12, 2021 / (\"Jaguar\" or the \"Company\") (TSX:JAG)(OTCQX:JAGGF) today announced gold production results for the first quarter of 2021 (\"Q1 2021\"). Financial results for Q1 2021 will be available on the Company's website and will be filed on SEDAR on or before May 15, 2021. All figures are in US Dollars, unless otherwise expressed.Vern Baker, President and CEO of Jaguar Mining stated: \"The first quarter of 2021 has been particularly challenging for both the people of Brazil and the employees of Jaguar, and their respective families. In Brazil, COVID-19 cases increased to their highest levels by the end of March and we are hopeful April will begin to trend downward. Similarly, we faced our highest levels of impact from the pandemic in the first quarter as 447 of our approximately 1,570 (~30%) employees and contractors have either contracted the virus, been quarantined, or have been sidelined for health risk factors for varying amounts of time. Our operating divisions have been the hardest hit where the loss of skilled drillers and mechanics heavily impacted productivity. The temporary reduction of expertise and manpower coupled with the continuous reconfiguration of our operating teams and inability for movement of technical resources between mines have been the major contributing factors to our underperformance this quarter.\"Q1 2020 Operating HighlightsConsolidated gold production decreased 14% with 18,161 ounces compared to 21,008 ounces in Q1 2020. Grade also decreased to 3.10 g/t compared to 4.15 g/t in Q1 2020.Pilar gold production decreased 16% with 9,643 ounces compared to 11,521 ounces in Q1 2020,Turmalina gold production decreased 10% with 8,517 ounces, compared to 9,487 ounces in Q1 2020.Total development of 2,017 metres for the first quarter of 2021 was in line compared with the same period in 2020 with 2,041 metres.Total definition, infill and exploration drilling in the mines increased 7% to 15,597 metres compared to 14,545 metres in Q1 2020. The additional drilling is expected to allow Jaguar to continue expanding Mineral Resources in 2021.Surface Exploration drilling was 4,678 meters compared to no drilling in Q1 of 2020.Growth Exploratio...