Announcement • Jul 27
Jaguar Mining Inc. Intersects High-Grade Gold At Faina Orebody Confirming Continuity of Mineralization At Turmalina Mine
Jaguar Mining Inc. has successfully intersected multiple high-grade gold zones at the Faina orebody, located within the Turmalina Mine complex. These results confirm the continuity of mineralization and support the Company's strategy to expand Mineral Resources within the Faina orebody, one of four orebodies that comprise the Turmalina mine. Since Jaguar Mining obtained permission to resume activities at the Turmalina operations, resource conversion and new resource drilling activities have been increased, providing the foundation for the full resumption of mining operations at the Faina orebody, which is located to the NNW of current mining activities at the Turmalina mine. Initial drillholes returned significant gold grades, including: 3.40m @ 7.67 g/t Au (FAI0177), 5.39m @ 11.88 g/t Au (FAI0178), 2.14m @ 9.01 g/t Au (FAI0182), 3.13m @ 22.46 g/t Au (FAI0182). The drilling confirms the presence of robust mineralization within the Faina target zone and demonstrates the effectiveness of the current exploration strategy. The drilling results successfully validate the current geological model while refining the geometry and continuity of the mineralized lenses. This improved understanding of the orebody provides greater confidence for short- and medium-term mine planning and stope design. These encouraging initial results reinforce the potential to expand Mineral Resources at Turmalina and support future underground mine development. Table 1 - Assay Highlights: Hole ID FAI0177, From 62.63, To 66.40, DownHole Interval (m) 3.77, Estimated True Width (m) 3.40, Gold Grade (g/t Au) 7.67, Composite Type 3.40m @ 7.67 g/t Composite; 62.63 to 64.45, 1.82m, 1.64m, 13.67 g/t, 1.64m @ 13.67 g/t Including. FAI0178, From 51.00, To 56.54, DownHole Interval (m) 5.54, Estimated True Width (m) 5.39, Gold Grade (g/t Au) 11.88, Composite Type 5.39m @ 11.88 g/t Composite; 51.00 to 54.61, 3.61m, 3.58m, 17.99 g/t, 3.58m @ 17.99 g/t Including. FAI0182, From 80.33, To 82.52, DownHole Interval (m) 2.19, Estimated True Width (m) 2.14, Gold Grade (g/t Au) 9.01, Composite Type 2.14m @ 9.01 g/t Composite; 182.30 to 185.50, 3.20m, 3.13m, 22.46 g/t, 3.13m @ 22.46 g/t Composite; 182.30 to 184.81, 2.51m, 2.40m, 28.46 g/t, 2.40m @ 28.46 g/t Including. Table 2 - Hole Collars: Hole ID FAI0177, Easting (m) 511704.91, Northing (m) 7818444.26, Elevation (m) 416.67, Total Depth (m) 99.47, Collar Dip (°) -43.87, Collar Azimuth (°) 305; FAI0178, Easting (m) 511705.01, Northing (m) 7818441.36, Elevation (m) 416.46, Total Depth (m) 80.01, Collar Dip (°) -37.13, Collar Azimuth (°) 256.1; FAI0182, Easting (m) 511882.13, Northing (m) 7818501.05, Elevation (m) 400.86, Total Depth (m) 200.83, Collar Dip (°) -35.48, Collar Azimuth (°) 254.88. The Faina orebody is located within the Turmalina mine which also includes the A, B, and D orebodies, all hosted within a NNW-trending shear zone that extends from the A orebody to the Pontal Norte orebody, indicating connectivity of gold mineralization through well-understood shear zones. The Faina orebody is a structurally controlled orogenic gold system that exhibits strong continuity of mineralization along the interpreted mineralized trend. Gold mineralization is hosted predominantly within mafic metavolcanic rocks affected by an extensive hydrothermal system. Mineralization occurs as disseminated sulfides within shear zones and is primarily associated with fine-grained arsenopyrite, pyrrhotite, pyrite, and locally antimony-bearing sulfide assemblages, reflecting a complex multiphase hydrothermal evolution. The strong correlation between the planned drill targets and the assay results continues to validate the geological interpretation of the deposit while refining the geometry and continuity of the mineralized lenses. These results provide greater confidence for resource modeling, reduce geological uncertainty, and support more accurate underground mine planning, stope design, and production sequencing. During the initial processing of Faina ore at the MTL plant (part of the Turmalina mine complex) in June, gold recoveries exceeded expectations, reaching approximately 70% in the industrial circuit, which represents a significant improvement over the previously noticed 55% recovery observed in laboratory and pilot-scale testing. This enhanced performance may be attributed to the more intensive pre-liming stage applied as part of the pre-oxidation process in the industrial circuit, which appears to have a positive effect on the metallurgical response of the Faina ore. While these results are encouraging, they are based on a limited processing campaign and will continue to be closely monitored over the coming months to confirm whether this improvement can be consolidated as the plant gains further operational experience with the Faina ore feed. Additional metallurgical test work is also planned to better understand the relationship between pre-oxidation conditions and gold recovery, supporting the optimization of processing parameters for future production campaigns. The Company has commenced a new drilling campaign at the Turmalina Mine Complex designed to continue advancing the definition of new Mineral Resources across the orebodies located within the complex, including Faina. This next phase of drilling will target both the down-plunge and along-strike extensions of the mineralized lenses identified to date, with the objective of further expanding the resource base and supporting the full resumption of mining operations at the Faina orebody. The campaign will also test additional priority targets within the Turmalina mine shear zone that remain underexplored, leveraging the updated geological model to optimize drillhole placement and maximize discovery potential. Results from this ongoing program will be released as they become available.
