Jaguar Reports Multiple High-grade Intercepts at Pilar Mine in Brazil

Jaguar Mining Inc. (TSXV:JAG) announced its underground exploration drilling at Pilar mine in Minas Gerais, Brazil hit multiple high-grade intercepts including 18.22 grams per tonne gold over 7.4 meters from drill hole PPL302.

As quoted in the press release:

The Pilar Mine is one of two underground mines that provide ore to the Caete Complex (“Caete”) and represents approximately two-thirds of the ounces produced at Caete. The drilling program, initially launched in Q3 2014, is largely focused to test potential depth extensions of mineralization below the current mine working levels.

All newly reported holes in Table 1 have intersected high-grade mineralization confirming the extension of a mineralized system in depth at the Pilar mine.  Additionally, the high-grade mineralization was identified at the footwall of the main AB ore body (picture 1) providing an opportunity to add new resources in depth extension at the Pilar Mine.

Drill hole PPL160 intercepted 14.04 grams per tonne Au (“g/t Gold”) over 8.7 meters, drill hole PPL294 intercepted 10.63 grams per tonne Au over 13.6 meters, drill hole PPL304 intercepted 20.98 grams per tonne Au over 3.7 meters and drill hole PPL307 intercepted 18.22 grams per tonne Au over 7.4 meters, including 27.19 grams per tonne Au over 4.3 meters. Table 1 below contains intersections in AB ore body drilled between September 2014 and April 2015.

George Bee, CEO of Jaguar Mining, commented:

These drill hole intercepts confirm the potential of expanding reserves and resources at the Pilar Mine, thereby potentially expanding the existing life-of-mine and production profile. With these results, we have re-initiated mine planning activities in order to consider a restart of primary and secondary development activities at Caeté, however, any decision to restart development activities will be deferred until the current exploration program is concluded, mine planning/costing has been completed and positive economic results from a restart of development are evident.

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