Jaguar Mining Announces Significant, High Grade Intercepts Near-Mine at Pilar

Jaguar Mining Inc. (“Jaguar” or the “Company”) (TSX:JAG) today announced results from its investment in its near-mine high priority growth exploration drilling program, including 4 holes, involving 1,689 metres (“m”) at the Company’s emerging Pilar mine in Minas Gerais, Brazil. During the first half of 2017, the Company remained focused on reducing its cash costs, generating operating cash flow, and maintaining a disciplined approach to the allocation of sustaining capital which enabled the Company to continue deploying capital towards key growth exploration. The Company also announced it has successfully acquired a strategic Mineral Exploration License (the “License”) over a prospective greenstone terrane adding approximately 15% to the Pilar Mine License footprint. At Turmalina, three diamond drill rigs commenced growth exploration drilling targeting projected down-plunge extensions, below current mining levels and infrastructure, on both Orebody A and Orebody C.
As quoted in the press release:

Rod Lamond, President and CEO of Jaguar Mining commented: “Our employees’ tremendous efforts to reduce and control costs across the Company in the first half of 2017 has enabled the Company to continue its investment in key growth exploration projects at Pilar and Turmalina. This investment has created sustainable value as today’s drill results demonstrate the expected continuity of high grade mineralized structures well beyond current mine plans. The increased grade and thickness of mineralization at depth will build confidence in the potential for adding substantial new resources to the Pilar mine and to significantly extend its mine life. Plans for additional drilling at Pilar are being finalized. We are also optimistic that the drill program commenced at Turmalina may deliver similar exploration success when we report drill results before year-end. Moving forward, we will continue to remain disciplined in deploying capital towards the highest priority targets across all of our operating mine sites.”

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