Jaguar Mining reports updated mineral reserves, resources

Jaguar Mining announced its annual Mineral Reserves and Mineral Resources statement for 2023. Proven and Probable Mineral Reserves and Measured, Indicated and Inferred Mineral Resources figures are reported for Jaguar’s two operating mining and production complexes, Turmalina and Caete, and for the Paciencia Complex, currently on care and maintenance. The Turmalina Complex is comprised of the Turmalina mine, the Faina and Oncas de Pitangui growth projects as well as the Zona Basal and Pontal deposits. The Caete Complex is comprised of the Pilar mine, the Roca Grande mine and the Corrego Brandao deposit. The Paciencia Complex is comprised of the Santa Isabel and Margazao mines and the Bahu deposit. HIGHLIGHTS: Consolidated Proven and Probable Mineral Reserves show additions of 132 koz reflecting the addition of reserves at the Faina project, offset by mined depletion at Pilar and Turmalina of 88 koz and removal of remnant material from inventory at Turmalina of 28 koz for a net increase of 4% to 470 koz, Faina Probable Mineral Reserves added 132 koz to Jaguar’s 2P Mineral Reserves inventory. Consolidated Measured and Indicated Mineral Resources increased by 27% to 1,676 koz, reflecting the addition of measured and indicated mineral resources from the Oncas de Pitangui project. Oncas de Pitangui Indicated Mineral Resources added 448 koz, to Jaguar’s Mineral Resources inventory. Consolidated Inferred Mineral Resources increased by 41% to 1,628 koz driven by the addition of inferred mineral resources from the Oncas de Pitangui project. Oncas de Pitangui Inferred Mineral Resources added 379 koz to the Company’s inventory. Life of Mine plans at the Pilar operation forecast production at current rates into 2028. At the Turmalina Complex, with Faina ramping up from this year through 2026, the LOM extends at increased production rates beyond 2030. The Company continues to progress project work required to support the publication of initial mineral reserves for the Oncas de Pitangui project in the fourth quarter of 2024. Vern Baker, CEO of Jaguar Mining stated, ” This year’s Mineral Reserve and Mineral Resource update further advances our organic growth strategy, especially with the initial disclosure of probable Mineral Reserves from our Faina project and the addition of 800 koz of Mineral Resources added from the acquisition of Iamgold’s Sao Sebastiao deposit and Oncas de Pitangui project . A net increase of 4% in Mineral Reserves along with the material increases in Mineral Resources is a very positive driver underpinning the long-term future of the company.