Jaguar Mining (TSX:JAG) Announces New High-Grade Intercepts at Turmalina Complex

Jaguar Mining (TSX:JAG) has reported new results from exploration and growth activities at the Turmalina Complex in Minas Gerais, Brazil. The company has continued to expand on previous results at the project from several priority diamond drill campaigns begun in the fourth quarter of 2022. These campaigns focussed on high-grade extensions of mineralizations discovered earlier in 2022.

Figure 1 -Plan View MTL – Faina – Pontal Trend with updated results Source: Jaguar Mining

New exploration diamond drilling was focussed on high-grade mineralization in the C Structure at Turmalina, follow-up step-out drilling at the Pontal South Discovery, as well as high-grade targets within the B Structure, which were also at shallow levels in the mine. 

Figure 2 – Long Section showing the location of exploration diamond drilling results reported relative to the Turmalina Mine – Faina Project and Pontal, Pontal North and Pontal South Targets Source: Jaguar Mining

Jaguar Mining sees the results so far as encouraging, with high grades over mineable widths reported from various areas within the C and B Mineralized Structures, including the identification of a new structure within the footwall of the C Structure.

At the Pontal South Discovery, the company’s step-out drilling has demonstrated continuity of high-grade mineralization to depth down plunge. Jaguar Mining is also drilling at the Faina Growth Project, completing approximately 15,359 metres of infill resource conversion drilling across 46 holes with the goal of converting the published Inferred Mineral Resource to an Indicated Mineral Resource. 

Figure 3 – Plan view showing C- Structure Drilling Intersection Location. Source: Jaguar Mining

Drilling at the Faina Growth Project confirmed high-grade characteristics of this mineralization and continuity within the deposit. Drilling also underpins geological and grade models for the important project. Jaguar Mining expects to publish updated Mineral Reserves and Mineral Resources with the AIF sometime in March 2023. 

Figure 4 – Plan view of B Structure showing drill intersections location. Source: Jaguar Mining

Vern Baker CEO of Jaguar Mining, commented in a press release: “I am very excited about the positive drill results reported today as they support the Company’s organic growth plans and ultimately our future production profile. The high grades in the C and B Structures are at shallow levels and close to development in these sectors of the mine which justifies our plan to focus production in these areas and support ongoing underground access development towards the Faina Resource. The success of infill drilling at Faina and the continued definition of new mineralized areas along the main structural trend continue to demonstrate the upside potential of this trend.”

Figure 5 – Plan view of Pontal South showing Diamond Drill Hole Location and Results. Source: Jaguar Mining

Highlights from the results are as follows:

  • 22.87 g/t Au over an estimated true width of 5.4m in Orebody CNW
  • 13.54 g/t Au over an estimated true width of 6.4m in Orebody B
  • 7.98 g/t Au over 5.2m* in Pontal South
  • 9.51 g/t Au over 9.8m*in Faina Resource Conversion Infill Drilling * (Drilled width – true width unknown)

C- Structure Mineralization

11.56 g/t Au over 4.6m

8.08 g/t Au over 6.8m

22.87 g/t Au over 5.4m

B- Structure Mineralization

11.58 g/t Au over 7.6m

9.60 g/t Au over 6.2m

13.54 g/t Au over 6.4m

Pontal South Exploration Target

2.44 g/t Au over 19.6 m* (including 3.28 g/t Au over 12.7m*)

4.69 g/t Au over 10.1 m* (including 7.98 g/t Au over 5.2m*)

* (Drilled widths -true width unknown)

Faina Project Infill Drilling Results

4.40 g/t Au over 23.3m* (including 9.51 g/t Au over 9.8 m*)

7.10 g/t Au over 11.0m* (including 8.20 g/t Au over 9.0m*)

9.57 g/t Au over 6.80 m* (including 77.7 g/t Au over 0.8 m*)

* (Drilled widths -true width unknown))

Figure 6 – Pontal South Cross Section through hole PTL105. Source: Jaguar Mining

Table 1 – Best Drilling Intersections C-Structure with Grade x Thickness (GT) > 25 in the Turmalina Complex

Summary of Diamond Drill Intersections

Orebody C Structure Turmalina Mine

Hole ID From (m) To (m) DownHole Interval (m) Estimated True Width (ETW) (m) Gold Grade (g/t Au) GT

(Grade x


FTS2165 60.4 70.3 9.82 6.6 3.88 26
FTS2280 132.4 138.8 6.34 4.6 11.56 53
FTS2285 147.1 155.8 8.67 6.80 8.08 55
FTS2218 159.7 165.7 6.05 5.4 22.87 124
Figure 7 – Plan view of Faina Resource Conversion Infill Drilling Intersections. Source: Jaguar Mining

Table 2 – Best Drilling Intersections B-Structure

Summary of Diamond Drill Intersections

Orebody B Structure Turmalina Mine

Hole ID From (m) To (m) DownHole Interval (m) Estimated

True Width (ETW) (m)

Gold Grade (g/t Au) GT

(Grade x


GR390LM01 65.3 84.4 19.1 7.6 11.58 88
B390LM12 4.6 11.6 7.0 6.2 9.60 59
B390LM11 2.3 9.8 7.5 6.4 13.54 86

Table 3 – Best Drilling Intersections Pontal South

Summary of Diamond Drill Intersections

Orebody Pontal South Structure

Hole ID From (m) To (m) DownHole Interval (m) Gold Grade (g/t Au) GT*

(Grade x Thickness)

PTL105 255.0 265.1 10.1 4.69 47
Including 258.0 263.2 5.2 7.98 41

GT*: (Drilled width – true width unknown)

Table 4 – Faina Resource Conversion Infill Drilling – Best Intersections

Summary of Diamond Drill Intersections
Faina Resource Conversion Infill Drilling – Best Intersections
Hole ID From (m) To (m) DownHole Interval (m) Gold Grade (g/t Au) GT*

(Grade x Thickness)

FUH180 216.2 236.9 20.8 2.52 52
Including 222.4 227.0 4.6 6.28 29
FUH183 192.6 205.7 13.1 3.69 48
Including 204.7 205.7 1.0 24.80 25
FUH185 61.9 77.5 15.6 3.27 51
Including 74.5 77.5 3.0 9.42 28
FUH185 158.9 168.7 9.8 4.58 45
Including 164.0 168.7 4.7 7.28 34
FUH193 146.8 170.9 24.1 1.92 46
Including 160.6 162.3 1.7 8.27 14
FUH196 279.0 290.0 11.0 7.10 78
Including 280.0 289.0 9.0 8.20 74
FUH205 289.2 296.0 6.8 9.57 65
Including 289.2 290.0 0.8 77.70 62
FUH208 196.5 224.0 27.6 2.22 61
Including 201.5 209.2 7.7 5.18 40

GT*: (Drilled width – true width unknown)



The above references an opinion and is for information purposes only. It is not intended to be investment advice. Seek a licensed professional for investment advice. The author is not an insider or shareholder of any of the companies mentioned above.

By Matthew Evanoff

I cover the mining industry and the best mining stocks around the world. I write about industry news, individual companies, projects, management, and profiles on industry leaders.

If you would like to receive our free newsletter via email, simply enter your email address below & click subscribe.


 Daily Gainers

 Lincoln Minerals Limited LML.AX +125.00%
 Golden Cross Resources Ltd. GCR.AX +33.33%
 Casa Minerals Inc. CASA.V +30.00%
 Adavale Resources Limited ADD.AX +22.22%
 Athena Resources Ltd. AHN.AX +22.22%
 Azimut Exploration Inc. AZM.V +21.98%
 New Stratus Energy Inc. NSE.V +21.05%
 Dynasty Gold Corp. DYG.V +18.42%
 Azincourt Energy Corp. AAZ.V +18.18%
 Gladiator Resources Limited GLA.AX +17.65%

Download the latest Solaris Resources (SLSSF) Investor Kit

You have successfully subscribed to the newsletter

There was an error while trying to send your request. Please try again.

MiningFeeds will use the information you provide on this form to be in touch with you and to provide updates and marketing.