Jaguar Mining announces updated MRMR for MTL Complex

Jaguar Mining announced updated Mineral Reserves and Mineral Resources for its MTL Complex, a group of mineral deposits with the potential to provide feed to the Turmalina processing plant. The MTL Complex mineral deposits includes the Turmalina Mine, the Faina Project, the Pontal deposits, the Zona Basal open pit deposit and the Pitangui Project – Sao Sebastiao Mineral Resource, acquired as part of Jaguar’s recent acquisition of IAMGOLD’s Brazilian assets. Mineral Reserves and Mineral Resources for the MTL Complex are reported net of depletion by the Turmalina Mine as of July 31, 2023. HIGHLIGHTS: Consolidated Proven and Probable Mineral Reserves for the MTL Complex are reported as 324 koz. Consolidated Measured and Indicated Mineral Resources for the MTL Complex are reported as 1,155 koz. Inferred Mineral Resources for MTL Complex are reported as 881 koz. Probable Mineral Reserves for the Faina Project are reported as 132 koz. Indicated Mineral Resources for the recently acquired Pitangui Project added 448 koz to the Company’s inventory. Inferred Mineral Resources for the recently acquired Pitangui Project added 379 koz, to the Company’s inventory. Vern Baker, President and CEO of Jaguar stated, “We are pleased to provide this updated MRMR for the MTL Complex which incorporates the work we have completed to access the Faina Mineral Resource area and our recently acquired Pitangui Project – Sao Sebastiao Mineral Resource. We expect this new mineral resource base to provide the foundation for increasing production rates at the MTL Complex with additional long-term potential. By year-end we expect to have completed approximately 1,800 meters of access drift to reach the Faina area. In 2024, we expect to begin developing within the gold-bearing structures as well as continuing infrastructure development, and by the second half of 2024, we expect to start some test stoping. We are confident in our ability to grow the Faina mineral resource both to depth and along trend towards Pontal.”