Jaguar Announces Turmalina Mine Infill Diamond Drill Results, Resumption Of Growth Exploration Drilling Infill diamond drilling results confirm model grades and thickness of main orebodies , Orebody A: 15.22 g/t Au over 8.36m (including 20.20 g/t Au over 5.55m)
NEWS RELEASE
January 28, 2020 TSX: JAG
FOR IMMEDIATE RELEASE
Jaguar Announces Turmalina Mine Infill Diamond Drill Results,
Resumption Of Growth Exploration Drilling
Infill diamond drilling results confirm model grades and thickness of main orebodies
,
Orebody A: 15.22 g/t Au over 8.36m (including 20.20 g/t Au over 5.55m)
Orebody C: 8.02 g/t Au over 7.66m (including 19.35 g/t Au over 2.75m)
Toronto, January 2 8, 2020 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG) is pleased to
announce results of its 2019 Infill diamond drilling campaign and the resumption of growth exploration drilling
activities at its Turmalina Mine Operation (“Turmalina”).
Infill drilling completed in 2019 confirms expected modelled grade and thickness of both Orebody A and Orebody
C which are the source of current production. This drilling is expected to support replacement of Mineral
Reserves net of 2019 production depletion.
Definitions: ETW – estimated true width, g/t Au – grams per tonne gold, m – metres, grade (g/t Au) x thickness
(m) = GM (gram – metres)
At Turmalina, 11 infill drilling intersections reported grade (g/t Au) x thickness (m) results > 25 GM (refer to Table
1, Figure 1 and Appendix 1 , 2) with the best results from Orebody A , including 15.22 g/t Au over 8.36m
(including 20.20 g/t Au over 5.55m) and Orebody C including 8.02 g/t Au over 7.66m (including 19.35 g/t
Au over 2.75m).
Contractors, Major Drilling , have mobilized an underground diamond rig dedicated to growth exploration at
Turmalina through 2020. This drilling will initially focus on evaluating the important C-SE Block between level 6
and level 8 and below current level 8 access development as well as test priority targets on Orebody A, Orebody
B and C-Central / NW (Figure 1). The location of planned and targeted 2020 infill and growth exploration drilling
is presented in Figure 2.
Vern Baker CEO, Jaguar Mining commented : “Resumption of growth expl oration drilling at Turmalina is an
important milestone in Jaguar´s ongoing transformatio n to stabilize, grow and sustain production from its key
operations in the prolific Iron Quadrangle of Bra zil. The highly successful prior cycle of growth exploration
Investment by Jaguar , commenced in late 2016 , culminated in a material increase in the company’s Mineral
Resource inventory in 2017 -2018 and Mineral R eserve inventory in early 2019 . Infill Drilling activities at
Turmalina in 2019 are expected to replace 2019 mine depletion. With a sustained four-year reserve inventory
underpinning the Company’s planned production at current mining rates going forward, this growth exploration
cycle will focus on adding new, high -quality Mineral Resource and Mineral Reserve ounces contiguous with
existing mining infrastructure, while leveraging existing excess pl ant capacity. In parallel, the exploration team
is working to progress the next generation of priority, near-mine brownfields targets, supporting the Company’s
immediate and longer-term growth objectives.”
Jon Hill, Expert Advisor, Geology and Explorat ion, Jaguar Mining Management Committee commented : “The
previous investment in the growth exploration cycle (2016-2019) at Jaguar, successfully provided the company
with a solid and sustainable four-year reserve inventory at low discovery and conversion costs. This new cycle
of growth exploration will focus on targeting a number of clear, near-term productivity and growth opportunities,
which have been either recently discovered, recognized or under-explored mineralized zones. These compelling
targets have been generated through a combination of high -quality geological and structural mapping and
careful review of historical data by the Geology and Exploration Team. The benefits of this approach are proven,
and we expect to once again deliver material value t o Jaguar via strong, researched drill programs supported
by a successful and highly motivated team.”
2
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Turmalina Gold Mine Drill Results showing intercepts reporting greater than 25 gram meters.
Figure 1. Location Infill Drilling Impacts Orebody A, Orebody C-SE and C-Central On Grade X Thickness
Projection.
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JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Table 1. 2019 Infill Drilling Results Orebody A and Orebody C-Central.
Summary of Significant Intersections with greater than 25 gram metres
Jaguar Mining Inc. – Turmalina Mine
Hole ID From
(m)
To
(m)
Down Hole
Interval (m)
Estimated
True Width
(m)
Gold Grade
(g/t Au)
GT
(ETW)
Date
(mm/dd/yyyy) Orebody
FTS1727
103.68 118.48 14.80 12.12 2.45 29.69
5/28/2019
A
131.73 146.11 14.38 11.77 5.56 65.44 A
Including 139.16 143.30 4.14 3.38 12.69 42.91 A
FTS1728 142.68 151.58 8.90 8.36 15.22 127.24 A
Including 143.84 149.74 5.90 5.55 20.20 112.13 A
FTS1729 83.03 89.99 6.96 5.70 4.39 25.02 5/14/2019 A
FTS1731 94.85 106.08 11.23 9.52 3.35 31.89 5/10/2019 A
FTS1740 125.50 136.15 10.65 7.66 8.02 61.43
6/24/2019
C-Central
Including 130.29 134.12 3.83 2.75 19.35 53.21 C-Central
FTS1747 144.51 150.44 5.93 4.67 5.43 25.36 7/4/2019 A
FTS1748 146.79 157.82 11.03 9.03 8.62 77.84
7/5/2019
A
Including 151.50 155.23 3.73 3.00 18.64 55.92 A
FTS1754 150.72 156.51 5.79 4.56 5.49 25.03 7/1/2019 C-Central
FTS1755 92.86 96.03 3.17 2.65 16.65 44.12 7/11/2019 A
FTS1763 50.64 54.48 3.84 3.58 7.04 25.20
9/13/2019
CSE
FTS1764 55.62 58.45 2.83 2.5 29.03 72.58 CSE
4
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Figure 2. Location of 2020 Infill and Growth Exploration Drilling in Orebody A, Orebody C -SE and C -
Central.
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5
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Figure 3. Location of 2020 Infill and Growth Exploration Drilling in Orebody A, Orebody C -SE and C -
Central.
Table 2. Metreage of 2020 Infill and Growth Exploration Drilling Turmalina Mine.
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6
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Qualified Person
Scientific and technical information contained in this press release has been reviewed and approved by
Jonathan Victor Hill, BSc (Hons) (Economic Geology - UCT), FAUSIMM, Senior Expert Advisor Geology and
Exploration to the Jaguar Mining Management Committee, who is also an employee of Jaguar Mining Inc., and
is a “qualified person” as defined by National Instrument 43 -101 - Standards of Disclosure for Mineral Projects
(“NI 43-101”).
Quality Control
Jaguar continues to use a quality-control program that includes insertion of blanks and commercial standards in
order to ensure best practice in sampling and analysis.
HQ, NQ, and BQ size drill core is sawn in half with a diamond saw. Samples are selected for analysis in standard
intervals according to geological characteristics such as lithology and hydrothermal alteration. All diamond drill
hole collars are accurately surve yed using a Total Station instrument and down -hole deviations are surveyed
using a non-magnetic Reflex Gyrosmart 642.
Mean grades are calculated using a variable lower grade cut-off (generally 0.5g/t Au). No upper gold grade cut
has been applied to the da ta. However, the requirement for assay top cutting will be assessed during future
resource work.
Half of the sawed sample is forwarded to the analytical laboratory for analysis while the remaining half of the
core is stored in a secure location. The drill core samples from growth exploration drill holes are transported in
securely sealed bags and sent for physical preparation to the independent ALS Brazil (subsidiary of ALS Global)
laboratory located in Vespasiano, Minas Gerais, Brazil. The analysis is con ducted at ALS Global’s respective
facilities (fire assay are conducted by ALS Global in Lima, Peru, and multi -elementary analysis are conducted
by ALS Global in Vancouver, Canada). ALS has accreditation in a global management system that meets all
requirements of international standards ISO/IEC 17025:2005 and ISO 9001:2015. All major ALS geochemistry
analytical laboratories are accredited to ISO/IEC 17025:2005 for specific analytical procedures.
The infill drilling results presented on this news release ar e from drill holes completed by both Major Drillin g on
contract and Jaguar Mining Inc´s own drilling machines . The infill samples are transported for physical
preparation and analysis in securely sealed bags to the Jaguar in-house laboratory located at the Roça Grande
Mine, Caeté, Minas Gerais.
For a complete description of Jaguar’s sample preparation, analytical methods and QA/QC procedures, please
refer to the “Technical Report on the Roça Grande and Pilar Operations, Minas Gerais State, Brazil ”, a copy of
which is available on the Company’s SEDAR profile at www.sedar.com.
The Iron Quadrangle
The Iron Quadrangle has been an area of mineral exploration dating back to the 16th century. The discovery in
1699–1701 of gold contaminated with iron and platinum -group metals in the southeastern corner of the Ir on
Quadrangle gave rise to the name of the town Ouro Preto (Black Gold). The Iron Quadrangle contains world -
class multi-million-ounce gold deposits such as Morro Velho, Cuiabá, and São Bento. Jaguar holds t he second
largest gold land position of a gold producer in the Iron Quadrangle with just over 25,000 hectares.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed junior gold mining, development, and exploration company operating in
Brazil with three gold mining complexes and a large land package with significant upside exploration potential
from mineral claims covering an are a of approximately 64,000 hectares. The Company's principal operating
assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the
Turmalina Gold Mine Complex and Caeté Mining Complex (Pilar and Roça Gr ande Mines, and Caeté Plant).
The Company also owns the Paciência Gold Mine Complex, which has been on care and mainten ance since
2012. The Roça Grande Mine has been on temporary care and maintenance since April 2018. Additional
information is available on the Company's website at www.jaguarmining.com.
7
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
For further information, please contact:
Vern Baker
Chief Executive Officer
Jaguar Mining Inc.
+55 (31) 3232-7101
Hashim Ahmed
Chief Financial Officer
Jaguar Mining Inc.
416-847-1854
Forward-Looking Statements
Certain statements in this news release constitute "forward-looking information" within the meaning of applicable Canadian
securities legislation. Forward -looking statements and inform ation are provided for the purpose of providing information
about management's expectations and plans relating to the future. All of the forward-looking information set forth in this news
release is qualified by the cautionary statements below and those ma de in our other filings with the securities regulators in
Canada. Forward-looking information contained in forward-looking statements can be identified by the use of words such as
"are expected", "is forecast", "is targeted,” "approximately," "plans," "anticipates," "projects," "continue," "estimate," "believe,"
or variations of such words and phrases or statements that certain actions, events or results "may," "could," "would," "might,"
or "will" be taken, occur or be achieved. All statements, other than statements of historical fact, may be considered to be or
include forward-looking information. These forward-looking statements are made as of the date of this news release and the
dates of technical reports, as applicable. This news release contains forwar d-looking information regarding potential and,
among other things, expected future mineral resources, potential mineral production opportunities, geological and mineral
exploration statistics, ore grades, current and expected future assay results, and definition/delineation/exploration drilling at
the Pilar Gold Mine and the Turmalina Gold Mine in Brazil, as well as forward -looking i nformation regarding costs of
production, capital expenditures, costs and timing of the development of projects and new deposits, success of exploration,
development and mining activities, capital requirements, project studies, mine life extensions, and continuous improvement
initiatives. The Company has made numerous assumptions with respect to forward -looking information contai ned herein,
including, among other things, assumptions about the estimated timeline and for the development of the drill program at the
Pilar Gold Mine (and its expanded exploration footprint) and the Turmalina Gold Mine; its mineral properties; the supply and
demand for, and the level and volatility of the price of, gold; the accuracy of reserve and resource estimates and the
assumptions on which the reserve and resource estimates are based; the receipt of necessary permits; market competition;
ongoing relations with employees and impacted communities; and political and legal developments in any jurisdiction in
which the Company oper ates being consistent with its current expectations including, without limitation, the impact of any
potential power rationing, tailings facility regulation, exploration and mine operating licenses and permits being obtained and
renewed and/or there being adverse amendments to mining or other laws in Brazil and any changes to general business
and economic conditions. Forward -looking information involves a number of known and unknown risks and uncertainties,
including among others: the risk of Jaguar not mee ting its plans regarding its operations and financial performance;
uncertainties with respect to the price of gold, labor disr uptions, mechanical failures, increase in costs, environmental
compliance and change in environmental legislation and regulation, weather delays and increased costs or production delays
due to natural disasters, power disruptions, procurement and delivery of parts and supplies to the operations; uncertainties
inherent to capital markets in general (including the sometimes volatile valuation of securities and an uncertain ability to raise
new capital) and other risks inherent to the gold exploration, develop ment and production industry, which, if incorrect, may
cause actual results to differ materially from those anticipated by the Com pany and described herein. In addition, there are
risks and hazards associated with the business of gold exploration, developm ent, mining and production, including without
limitation environmental hazards, tailings dam failures, industrial accidents and wo rkplace safety problems, unusual or
unexpected geological formations, pressures, cave-ins, flooding, chemical spills, and gold bullion thefts and losses (and the
risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Although we have attempted to identify
important factors that could cause actual actions, events or results to differ materially from those described in forward-looking
statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended.
There can be no assurance that forward -looking statements will prove to be accurate, as ac tual results and future events
could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on
forward-looking information.
8
JAGUAR MINING INC.
First Canadian Place, 100 King Street West, 56th Floor, Toronto, Ontario, Canada M5X 1C9 T: 416-847-1854
Appendix 1
Infill Drilling Results Orebody A and Orebody C.
Summary of Significant Intersections, Drilling Program
Jaguar Mining Inc. – Turmalina Mine
Hole ID From
(m)
To
(m)
DownHole
Interval (m)
Estimated True
Width (m)
Gold Grade
(g/t Au)
GT
(ETW)
Date
(mm/dd/yyyy)
FTS1626
100.81 102.70 1.89 1.60 3.67 5.87
4/12/2019 112.78 115.33 2.55 1.77 3.20 5.66
147.72 153.17 5.45 3.98 2.01 8.00
FTS1639
113.43 114.56 1.13 1.11 1.02 1.13
8/22/2019
138.43 146.72 8.29 8.00 2.95 23.60
FTS1703 69.02 79.25 10.23 8.85 2.18 19.29 4/8/2019
FTS1704 148.43 151.47 3.04 2.25 7.62 17.15 4/16/2019
FTS1705 60.06 61.03 0.97 0.82 3.04 2.49 4/22/2019
FTS1722 No impact 4/1/2019
FTS1723 66.19 68.02 1.83 1.75 3.95 6.91 4/10/2019
FTS1724
60.03 61.88 1.85 1.53 1.36 2.08
5/28/2019
69.37 73.35 3.98 3.29 1.92 6.32
FTS1727
90.04 94.97 4.93 3.77 1.54 5.81
103.68 118.48 14.80 12.12 2.45 29.69
131.73 146.11 14.38 11.77 5.56 65.44
Including 139.16 143.30 4.14 3.38 12.69 42.91
FTS1728 142.68 151.58 8.90 8.36 15.22 127.24
Including 143.84 149.74 5.90 5.55 20.20 112.13
FTS1729 83.03 89.99 6.96 5.70 4.39 25.02 5/14/2019
FTS1731
94.85 106.08 11.23 9.52 3.35 31.89
5/10/2019 152.25 154.94 2.69 2.55 5.41 13.80
Including 94.85 97.57 2.72 2.30 7.24 16.65
FTS1733
52.86 53.95 1.09 0.83 3.05 2.53
6/5/2019
59.55 63.06 3.51 2.68 1.99 5.33
FTS1734 156.98 157.79 0.81 0.75 2.00 1.50 6/10/2019
FTS1735
130.80 132.01 1.21 1.10 4.83 5.31
6/26/2019
144.05 145.97 1.92 1.85 6.96 12.88
FTS1736 No impact 5/14/2019
FTS1737 104.50 109.75 5.25 2.95 3.13 9.23 6/24/2019
FTS1738
145.37 146.37 1.00 0.80 5.50 4.40
7/8/2019
169.62 173.41 3.79 2.72 4.19 11.40
FTS1740 125.50 136.15 10.65 7.66 8.02 61.43 6/24/2019