Jaguar announces acquisition of strategic land position extending roça grande mine concession by 1,000 hectares; provides growth exploration update
Toronto, Canada, June 21, 2017 – Jaguar Mining Inc. (“Jaguar” or the “Company”) (TSX:JAG) is pleased to announce that it has acquired a strategic Mineral Exploration License (“License”) located 4.5 km west of the Caeté mill operations (“Caeté Mill”) where the Company currently processes ore from its Pilar Gold Mine (“Pilar” or “Pilar Mine”) and its Roça Grande Gold Mine (“RG” or “RG Mine”). The Company is also pleased to provide a Growth Exploration Update on its operations including the Pilar Mine and the Turmalina Gold Mine (“Turmalina” or “Turmalina Mine”), located in Minas Gerais, Brazil.
New Strategic Land Position at Roça Grande Mine Concession
- The newly acquired License, located 4.5 km west of the Caeté Mill, increases the total registered RG Mine concession by 1,000 hectares (“ha”). The Company believes that the expanded land position, adds significant value to the overall RG concession area as it is strategically located just west of the RG Mine, and contains 7.5 km of contiguous Banded Iron Formation (“BIF”) as well as a large number of historic Portuguese workings from the late 17th and 18th centuries (refer to Figure #1).
- The License area was originally staked in 1981, and became publically available on May 27, 2016 when it was declared a Mineral Exploration License in the Brazilian Official Gazette under the ordinance number 807/2017. It was awarded to Jaguar on March 23, 2017 by the Departamento Nacional de Produção Mineral (“DNPM”).
- Within the License area, there are strong magnetic anomalies associated with more than 7.5 km of mapped, highly prospective, contiguous BIF extensions, including the possibility of a potential gold-bearing BIF hinge zone in the west-south-west portion of the License area (refer to Figure #2).
- The License area also contains a number of strategic exploration targets including the highly prospective Morro da Mina target, which forms part of the BIF continuity currently hosting the RG1 mineralization along with additional RG mineralization which make up the RG complex. Geological and structural mapping with soil sampling is planned for the Morro da Mina target in the second half of 2017, with the objective of confirming historic gold occurrences in and around the target (refer to Figure #3)
Fonte: Jaguar Mining