Jaguar Mining Boosts Pilar's Proven and Probable Reserves by 310 Percent

Jaguar Mining Inc. (TSXV:JAG) released its year-end mineral resource and mineral reserve estimates for its Pilar gold mine.
Proven and probable reserves now stand at 172,000 ounces of gold, up 310 percent from 2014. Meanwhile, measured and indicated resources sit at 514,000 ounces of gold, up 56 percent from 2014.
The press release states:

Proven & Probable Reserves: 1,220 million tonnes grading 4.39 g/t Au, containing 172,000 oz Au
Measured & Indicated Resources: 3,479 million tonnes grading 4.59 g/t Au, containing 514,000 oz Au
Inferred Resources: 1,208 million tonnes grading 5.45 g/t Au containing 212,000 oz Au

Rodney Lamond, president and CEO of Jaguar Mining, commented:

We are extremely pleased with the increased Mineral Resources and Mineral Reserves at Pilar. With the positive results from our drill programs and our improved modeling practices at Pilar, we now have a better understanding of the geological model and its down-plunge mineralization potential. In addition, the new block model has increased our confidence in our Mineral Resources and Reserves inventory. Our priority of building confidence in our mine planning begins with the confidence in our actual Mineral Reserves. The large increase in our Mineral Reserve base at Pilar has enabled us to significantly increase our mine life with sufficient mineral reserves for four years at the current production profile. The Inferred Mineral Resource at Pilar also now confirms that mineralization continues down-plunge on the main mineralized trends and highlights the considerable potential for further additions to our Mineral Resource base.

Click here to read the full Jaguar Mining Inc. (TSXV:JAG) press release.