Jaguar Intercepts High-Grade Gold Mineralization at Pilar Gold Mine

Jaguar Mining (TSX:JAG) has announced drill results from 40 underground diamond drill holes conducted at the Pilar Gold Mine located on the company’s Caete Complex in Brazil.
As quoted in the press release:

These results continue to reaffirm increasing grade profiles at depth at the Pilar BFII ore body and suggest a strong potential for the significant conversion of Mineral Resources to Mineral Reserves.
This drill program (5,369 metres (“m”)) included 40 holes, which generated multiple high-grade drill intercepts from Pilar including BFII, BF, BA, LFW, LHW, C, and SW ore bodies. The total cost of this exploration program was approximately $0.4 million. The underground resource definition-drilling program was designed to test the current resource envelope, and to test the down plunge extensions of the Pilar ore bodies. The drill program targeted, in particular, the newly discovered BFII ore body, as previously outlined in the “Technical Report on the Roça Grande and Pilar Operations, Minas Gerais State, Brazil”, a copy of which is available on the Company’s SEDAR profile at www.sedar.com.
Drilling Highlights and Key Intercepts

• Underground definition drilling on the Pilar BFII ore body has returned significant high-grade mineralization. Key intercepts include:
  • Hole FSB552A – 17.40 g/t Au over 6.80 m (6.46 m ETW¹);
  • Hole PPL325 – 7.73 g/t Au over 16.35 m (15.52 m ETW¹);
  • Hole PPL326 – 24.19 g/t Au over 5.65 m (4.46 m ETW¹);
  • Hole PPL363 – 23.95 g/t Au over 4.00 m (3.35 m ETW¹); and
  • Hole PPL340 – 9.05 g/t Au over 7.90 m (6.24 m ETW¹)

¹ETW – Estimated true width

• Exploration drilling focused on testing extensions to the Banded Iron Formation (“BIF”) ore bodies to assess the growth potential for Measured and Indicated Mineral Resources.

• Definition drilling focused on providing increased confidence and classification of the near-term mineral resources.

• The definition drilling programs are designed to replace current reserves being depleted from mining and will be added to the new 2016 Mineral Reserve and Mineral Resource model at year-end.

Click here to read the full press release.