TSX-V: JAG
BELO HORIZONTE, Brazil,
Aug. 12, 2014 /CNW/
- Jaguar Mining Inc. ("Jaguar" or the "Company") (JAG:
TSXV) today announced that it has applied for exploration
permits for Iron minerals in its Palmital and Bocaina gold
exploration permits, located 26 km from Itabirito, state of Minas
Gerais, Brazil.
Jaguar has filed a communication to DNPM declaring the existence
of a mineral deposit containing Iron, on its gold exploration
permits in the Bocaina and Palmital areas, located at approximately
130 meters from the gate to Palmital gold mine, now under care and
maintenance. The access to the area is the same as for the Palmital
gold mine.
Additionally, Jaguar has applied for a Guia de Utilização (an
exploration authorization) with DNPM ("Departamento Nacional de
Produção Mineral"), the federal mineral rights agency, and a LOP
(Licença de Operação para Pesquisa or Exploration License) with
SUPRAM, Superintendência de Regularização Ambiental de Minas
Gerais, the state environmental agency.
In making this announcement, George
Bee, Chief Executive Officer of Jaguar Mining Inc. stated,
"Jaguar's pursuit of this iron mineral deposit in no way changes
our focus away from the main task at hand, which is the operation
of our gold assets in Minas Gerais and capturing the potential
within our existing portfolio of gold exploration assets." He went
on to state that, "This iron deposit presents an opportunity to
bring cash into the company with little or no capital expenditures,
thereby assisting our gold business."
Based on the initial exploration activities conducted to date, a
talus type of iron minerals deposit, containing hematite,
itabirite, and quartz fragments, cemented by limonite, goethite and
other iron and clay minerals, has been mapped and surveyed by
Jaguar. Seven channel samples were collected from outcrops by
Jaguar geologists, and sent to SGS Geosol Laboratorios LTDA., an
independent laboratory in Belo Horizonte,
Brazil, for screening, sample preparation, and analysis,
providing the following results.
Natural
Pellet
|
mE
|
mS
|
Altitude
(masl)
|
>6.3mm
(%)
|
Fe
(%)
|
SiO2
(%)
|
Al2O3
(%)
|
P
(%)
|
Mn
(%)
|
LOI
(%)
|
CFEPL0001
|
639,160
|
7,774,004
|
1,345
|
48.81
|
60.10
|
1.91
|
5.27
|
0.055
|
0.03
|
5.97
|
CFEPL0002
|
639,251
|
7,774,141
|
1,358
|
48.62
|
63.10
|
2.28
|
3.61
|
0.064
|
0.02
|
3.33
|
CFEPL0003
|
639,386
|
7,774,466
|
1,401
|
36.01
|
55.70
|
5.16
|
8.77
|
0.052
|
0.08
|
5.81
|
CFEPL0004
|
639,376
|
7,774,429
|
1,395
|
52.44
|
57.00
|
2.25
|
8.60
|
0.060
|
0.04
|
6.75
|
CFEPL0005
|
639,333
|
7,774,354
|
1,390
|
58.41
|
61.10
|
1.35
|
5.84
|
0.070
|
0.06
|
5.24
|
CFEPL0006
|
639,314
|
7,774,361
|
1,384
|
39.33
|
61.70
|
1.31
|
5.50
|
0.062
|
0.03
|
5.24
|
CFEPL0007
|
639,186
|
7,773,915
|
1,341
|
64.33
|
58.00
|
3.13
|
7.02
|
0.078
|
0.04
|
6.55
|
Average
|
|
|
|
49.71
|
59.56
|
2.41
|
6.35
|
0.064
|
0.04
|
6.26
|
|
|
|
|
|
|
|
|
|
|
|
Fines
|
mE
|
mS
|
Altitude
(masl)
|
<6.3mm
(%)
|
Fe
(%)
|
SiO2
(%)
|
Al2O3
(%)
|
P
(%)
|
Mn
(%)
|
LOI
(%)
|
CFEPL0001
|
639,160
|
7,774,004
|
1,345
|
51.19
|
59.20
|
3.86
|
5.29
|
0.055
|
0.04
|
5.11
|
CFEPL0002
|
639,251
|
7,774,141
|
1,358
|
51.38
|
53.80
|
10.5
|
6.04
|
0.073
|
0.02
|
5.53
|
CFEPL0003
|
639,386
|
7,774,466
|
1,401
|
63.99
|
44.80
|
15.6
|
11.60
|
0.042
|
0.03
|
7.05
|
CFEPL0004
|
639,376
|
7,774,429
|
1,395
|
47.56
|
55.80
|
4.45
|
8.11
|
0.057
|
0.05
|
6.53
|
CFEPL0005
|
639,333
|
7,774,354
|
1,390
|
41.60
|
57.20
|
3.41
|
7.59
|
0.074
|
0.04
|
6.85
|
CFEPL0006
|
639,314
|
7,774,361
|
1,384
|
60.67
|
59.00
|
2.95
|
6.34
|
0.066
|
0.04
|
6.16
|
CFEPL0007
|
639,186
|
7,773,915
|
1,341
|
35.67
|
57.30
|
4.44
|
6.69
|
0.083
|
0.05
|
6.55
|
Average
|
|
|
|
50.29
|
54.87
|
6.02
|
7.24
|
0.066
|
0.04
|
6.26
|
The elemental and oxide grades were analyzed by X-ray
fluorescence, and loss on ignition ("LOI") was determined by high
temperature ashing.
The location of the samples is indicated on the table by their
UTM coordinates - Datum Córrego Alegre.
The grades shown are conceptual in nature, and there has been
insufficient exploration to define a mineral resource, and it is
uncertain if further exploration will result in the target being
delineated as a mineral resource.
The Company may conduct further exploration to delineate and
evaluate the talus deposit upon receipt of applicable licensing and
approvals.
This press release has been reviewed and approved with respect
to the technical information being reported by Wilson Miola, Jaguar's Director of Engineering,
and a Qualified Person under NI 43-101. Wilson Miola has verified the data disclosed,
including sampling, and analytical data underlying the technical
information. Wilson Miola has
visited the target area twice during the months of April and June.
The analytical data was obtained from a certified independent
external laboratory, SGS Geosol.
About Jaguar Mining
Jaguar is a junior gold producer in Brazil with operations in a prolific
greenstone belt in the state of Minas Gerais and owns the Gurupi
Project in Northeastern Brazil in
the state of Maranhão. The Company also owns additional mineral
resources at its approximate 210,000-hectare land base in
Brazil. Additional information is
available on the Company's website at www.jaguarmining.com.
Forward Looking Statements
Certain statements in this press release constitute
"Forward-Looking Statements" within the meaning of the U.S. Private
Securities Litigation Reform Act of 1995 and applicable Canadian
securities legislation. Forward-Looking Statements can be
identified by the use of words such as "are expected", "is
forecast", "is targeted", "approximately" or variations of such
words and phrases or statements that certain actions, events or
results "may", "could", "would", "might", or "will" be taken, occur
or be achieved. Forward-Looking Statements involve known and
unknown risks, uncertainties and other factors which may cause the
actual results or performance to be materially different from any
future results or performance expressed or implied by the
Forward-Looking Statements.
These Forward-Looking Statements represent the Company's views
as of the date of this press release. The Company anticipates that
subsequent events and developments may cause the Company's views to
change. Factors which could cause results or events to differ from
current expectations include, among other things, actions taken
against the Company by governmental agencies and securities and
other regulators and other factors not currently viewed as material
that could cause actual results to differ materially from those
described in the Forward-Looking Statements. The Company does
not undertake to update any Forward-Looking Statements, either
written or oral, that may be made from time to time by or on behalf
of the Company subsequent to the date of this discussion except as
required by law.
SOURCE Jaguar Mining Inc.