TSX-V: JAG
TORONTO, April 8, 2015 /CNW/ - Jaguar Mining Inc.
("Jaguar" or the "Company") (JAG: TSX-V) today announced
multiple high-grade drill intercepts generated from definition
drilling within the current indicated resource envelope at the
Turmalina Mine.
Drill hole FTS1125 intercepted 23.71 grams per tonne Au ("g/t
Gold") over 14 meters, including 41.27 grams per tonne Au over 7.6
meters, while drill hole FTS1130 intercepted 23.62 grams per tonne
Au over 8.8 meters and drill hole FTS1145 intercepted 20.15 grams
per tonne Au over 8.7 meters.
George Bee, Chief Executive
Officer of Jaguar, stated, "These results reinforce our current
Mineral Reserve and Resource estimation (see news release dated
March 25, 2015) and the continuity of
higher grades over significant thicknesses at Turmalina Orebody
A."
All drilling intercepts highlighted are down plunge of current
underground workings at Turmalina Ore Body A.
Table 1 below contains intersections drilled between
September 2014 and January 2015, and are contained within the
current indicated resource envelope. With these results, the
Company has greater geologic confidence as drill density has been
increased, thereby providing the opportunity to upgrade current
resources to a higher category while the grades reported reinforce
the trend of increasing ounces per vertical meter as depth
increases.
The impact of the intercepts was not incorporated into the
reserve/resource model update that was disclosed on March 25, 2015.
Hole
ID
|
Date
|
From
(m)
|
To
(m)
|
Length
(m)
|
Au
Grade
(g/t)
|
FTS1084
|
09-2014
|
95.8
|
101.5
|
5.8
|
12.38
|
FTS1117
|
09-2014
|
116.5
|
127.1
|
10.7
|
7.86
|
FTS1118
|
09-2014
|
101.4
|
107.1
|
5.7
|
11.66
|
including
|
09-2014
|
102.3
|
105.2
|
2.9
|
19.40
|
FTS1119
|
10-2014
|
112.8
|
118.4
|
5.6
|
10.22
|
FTS1121
|
10-2014
|
119.2
|
124.8
|
5.6
|
10.17
|
FTS1123
|
09-2014
|
132.9
|
135.7
|
2.8
|
9.05
|
FTS1124
|
01-2015
|
168.6
|
170.6
|
2.0
|
8.09
|
FTS1125
|
01-2015
|
136.2
|
150.2
|
14.0
|
23.71
|
including
|
01-2015
|
142.6
|
150.2
|
7.6
|
41.27
|
FTS1126
|
01-2015
|
125.6
|
130.5
|
4.8
|
6.15
|
FTS1130
|
01-2015
|
139.4
|
148.1
|
8.8
|
23.62
|
FTS1145
|
03-2015
|
140.7
|
149.4
|
8.7
|
20.15
|
The effect of incorporating the new drill date into the
reserve/resource model will only be ascertained and quantifiable
once a reserve and resource model update is conducted, later in the
year, once additional data is gathered.
Quality Control
Jaguar Mining has implemented a
quality-control program that includes insertion of blanks,
commercial standards and duplicate core samples in order to ensure
best practice in sampling and analysis. NQ and BQ size drill core
is saw cut and half the drill core is sampled in standard intervals
according to geological characteristics such as lithology and
hydrothermal alteration contents. The remaining half of the core is
stored in a secure location. Rock channel sampling of the
underground development follows the same standard intervals of the
drill core. The drill core samples are transported in security
sealed bags to the in-house Roça Grande Mine Laboratory, Caeté,
Minas Gerais and occasionally to the independent SGS Geosol
laboratory in Vespasiano, Minas Gerais. The rock chip samples are
transported in security sealed bags to the Roça Grande Mine
Laboratory, Caeté, Minas Gerais. The preparation and analysis are
all conducted at the respective facilities, either at the Roça
Grande Mine Laboratory in Caeté, MG or at the SGS Geosol Laboratory
in Vespasiano, MG. The Roça Grande Mine Laboratory does not carry
an ISO certification. The SGS Geosol Laboratory is ISO 9001
accredited. As part of in-house QA/QC the Roça Grande Mine
Laboratory inserts certified gold standards, blanks and pulp
duplicate samples.
Qualified Person
Scientific and technical information
contained in this press release has been reviewed and approved by
Marcos Dias Alvim, BSc Geo., MAusIMM (CP), Project Development
Manager, who is an employee of Jaguar Mining Inc., and is a
'qualified person' as defined by National Instrument 43-101-
Standards of Disclosure for Mineral Projects ("NI43-101").
About Jaguar Mining
Jaguar is a gold producer with
mining operations in a prolific greenstone belt in the state of
Minas Gerais, Brazil.
Additionally, Jaguar wholly owns the large-scale Gurupi Development
Project in the state of Maranhão, Brazil. In total, the Company owns mineral
claims covering an area of approximately 197,000-hectares.
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 include, but are not
limited to, management's assessment of Jaguar's future plans and
operation. Certain statements throughout this press release
constitute forward-looking statements (forecasts) under applicable
securities laws relating to future events or future performance.
Forward-Looking Statements can be identified by the use of words
such as "are expected", "is forecast", "is targeted",
"approximately", "plans", "anticipates" "projects", "anticipates",
"continue", "estimate", "believe" 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 factors include the uncertainties associated with
the exploration and development of mineral properties, in
interpreting drilling results and other geological data,
fluctuating gold prices and monetary exchange rates, the
possibility of project cost delays and overruns or unanticipated
costs and expenses, uncertainties relating to the availability and
costs of financing needed in the future for the continuance of the
operations and development of the reserves and resources,
uncertainties related to production rates, timing of production and
the cash and total costs of production. Forward-looking information
is based on current expectations, estimates and projections that
involve a number of risks and uncertainties which could cause
actual results to differ materially from those anticipated by
Jaguar and described in the forward-looking information. The
forward-looking information contained in this press release is made
as of the date hereof and Jaguar undertakes no obligation to update
publicly or revise any forward-looking information, whether as a
result of new information, future events or otherwise, unless
required by applicable securities laws. The forward-looking
information contained in this press release is expressly qualified
by this cautionary statement.
Forward-Looking Statements involve known and unknown risks,
uncertainties and other factors may cause the actual results,
performance or achievements to be materially different from those
expressed or implied by the forward-looking statements. Such risk
factors include, among risks associated with exploration and
development of mineral properties, the uncertainties involved in
interpreting drilling results and other geological data,
fluctuating gold prices and monetary exchange rates, the
possibility of project cost delays and overruns or unanticipated
costs and expenses, uncertainties relating to the availability and
costs of financing needed in the future for the continuance of the
operations and development of the reserves and resources,
uncertainties related to production rates, timing of production and
the cash and total costs of production, as well as those factors
disclosed in the Company's current Annual Information Form and
Management's Discussion and Analysis, as well as other public
disclosure documents, available on SEDAR at
www.sedar.com. Although the Company has attempted to
identify important factors that could cause actual actions, events
or results to differ materially from those described in
forward-looking statements, there may be other factors that cause
actions, events or results not to be as anticipated, estimated or
intended. There can be no assurance that forward-looking statements
will prove to be accurate. The forward-looking statements contained
herein are presented for the purposes of assisting investors in
understanding the Company's plan, objectives and goals and may not
be appropriate for other purposes. Accordingly, readers should not
place undue reliance on 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.