JAGUAR MINING PROVIDES POSITIVE RESULTS FROM ITS 2023 EXPLORATION PROGRAM HIGHLIGHTS INCLUDE: High-grade diamond drilling intercept of 16.69 g/t Au over a true width of 4.8m at Carrancas High-grade trench (up to 8.89 g/t Au over 10.4m) and outcrop rock-chip sampling program (up to
JAGUAR MINING PROVIDES POSITIVE RESULTS FROM ITS 2023 EXPLORATION PROGRAM
HIGHLIGHTS INCLUDE:
High-grade diamond drilling intercept of 16.69 g/t Au over a true width of 4.8m at Carrancas
High-grade trench (up to 8.89 g/t Au over 10.4m) and outcrop rock-chip sampling program (up to
21.9 g/t Au) defines 3km mineralized strike along the Rio do Peixe trend close to the Paciência
Complex
Strong (>100ppb Au) gold in-soil anomaly extends mineralization trend 4km southwards at
Paciência Complex.
Toronto, March 4, 2024 – Jaguar Mining Inc. ("Jaguar" or the "Company") (TSX: JAG; OTCQX: JAGGF)
is pleased to announce positive results from exploration activities completed during 2023 over three new target
trends across the Company’s extensive tenement portfolio, located in the Iron Quadrangle in the state of Minas
Gerais, Brazil.
During 2023, in parallel with its in -mine exploration activities, the Company continued to advance generative
and phase-one exploration programs over areas identified as high priority targets. These targets are strategically
important as they are the pipeline of high potential exploration projects in Jaguar’s extensive tenement package.
The package, which is 56,000 Ha includes tenements attributed to its 2023 acquisition of IAMGOLD’s Brazilian
assets.
The majority of work completed focused on initial reconnaissance drill testing of the Carancas target within the
Rocinha – Carrancas – Carneiro trend close to the Company’s Caeté complex. Outcrop and trench sampling at
various targets along the Rio do Peixe trend and soil sampling targeting previously untested southern extensions
to the mineralized Paciência trend from the currently closed Santa Isabel mine southwards to the tenement limit.
Jon Hill, VP Exploration and Geology at Jaguar Mining stated: “Exploring a pipeline of high potential targets
within our exploration portfolio is a fundamental part of the Company´s long term strategy. This past year was a
breakthrough year for us as we reported initial Mineral Reserves at our Faina project, reported a material
increase in Mineral Resource inventories booked through the acquisition of IAMGOLD’s Brazilian assets, and
advanced a new high grade mineralized zone on the BA structure at our Pilar mine. Our ability to continually
generate and progress high quality priority targets across our 56 ,000 Ha strategic tenement package again
speaks to the quality of our portfolio and the opportunity the Company has for new discoveries.”
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Figure 1. Location of Exploration Activities presented in this Press Release, Rocinha – Carrancas –
Carneiro trend, Rio do Peixe trend and Paciência trend.
Rocinha – Carrancas – Carneiro trend
This mineralized trend is 9km to the east of the Company´s Caeté plant and is defined by extensive historical
surface and underground excavations which have been mapped and sampled over approximately 5km of strike
length. Rock chip channel sampling of historical underground excavations reported several very high-grade
samples over intervals ranging from 0.7m to over 3m in true thickness . The mineralization is associated with
silicification and quartz veining and quartz -sericite-chlorite-carbonate alteration with associated fine
disseminated pyrite within a series of shallow-dipping shear zones which traverse the host greenschist sequence
at a shallow angle . The host greenschists comprise both metavolcanic and metasedimentary units and
interlayered banded iron formation. Rock chip channel samples collected from the underground excavations
with grade x thickness (GT) >10 are tabulated below in Table 1.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Table 1. Rock chip channel samples collected from the underground excavations with grade x thickness
(GT) > 10 (ETW = Estimated True Width; GT=grade x thickness).
The Company completed a series of shallow reconnaissance diamond drill holes in 2023 to confirm the
orientation and quantify the upside potential of the high-grade mineralization sampled in the underground
workings. The first hole, FCAR001 intersected a wide zone of mineralization grading 16.69 g/t Au over a true
width of 4.8m, which significantly enhanced the p otential of this project (Table 2). The targeted structure was
successfully intersected in several step-out holes but reported lower grades and thicknesses (Appendix 1).
Based on this early work, the geological models are being reviewed and refined to determine what geological
conditions can be used distinguish more favourable sites for higher grade, thicker areas from lower grade
narrower areas to inform drill targeting going forward.
Table 2. Diamond drilling results for holes FCAR001 and FCAR003 Carrancas target.
CHANNEL Channel
Interval (m)
Estimated
True Width
(m)
Gold Grade
(g/t Au) GT (ETW) Zone
CCAR0014 2.3 2.3 48.70 112.02 Pele de Onça
CRO-CG-0091 1.4 1.4 27.93 39.10 Carrancas
CRO-CG-0053 0.5 0.5 23.28 11.64 Carrancas
CRO-CG-0054 0.6 0.6 16.97 10.18 Carrancas
CCAR0044 3.2 3.2 15.25 48.80 Pele de Onça
CRO-CG-0048 1.6 1.6 14.46 23.14 Carrancas
CRO-CG-0057 0.7 0.7 14.21 9.95 Carrancas
CCAR0035 2.1 2.1 12.98 27.26 Pele de Onça
HOLE ID FROM (m) TO (m)
Down Hole
Interval
(m)
Estimated
True
Width (m)
GOLD
GRADE (g/t
Au)
GT (ETW) Zone
FCAR001 49.15 53.95 4.8 4.8 16.69 80.101
Including 49.15 51.75 2.6 2.6 23.24 60.425
FCAR003 52.94 54.18 1.24 1.24 2.67 3.3108 Carrancas
Carrancas
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Figure 2. Map showing location of drill hole FCAR001 and underground rock chip channel samples at
Carrancas relative the entire Rocinha – Carrancas – Carneiro trend.
Rio do Peixe Trend
This Rio do Peixe mineralized trend is located approximately 20km north-east of the Company´s Paci ência
complex and is defined by extensive historical surface and underground excavations which have been mapped
and sampled by the Company over 3km of strike. Surface trenching and rock chip sampling have returned
encouraging sampling results which include a best trench sample result of 8.89 g/t Au over 10.4m (true width
unknown) and rock chip samples up to 21.9 g/t Au.
The mineralization is associated with quartz veining and quartz -sericite-chlorite-carbonate alteration with fine
disseminated pyrite within a series of steep-dipping mylonitic shear zones. The host greenschists comprise
variably sheared ultramafic, mafic and quartz - sericite schists and banded iron formation.
5
JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Figure 3. Map showing the location of trench samples and rock chip samples from outcrop along the
Rio do Peixe trend.
Table 3. Rock chip channel samples collected from the surface trenches with grade x thickness (GT) >
10 (ETW = Estimated True Width; GT=grade x thickness).
Paciência Trend
The Paci ência trend is defined by a major mineralized crustal shear zone which traverses the Company’s
Paciência complex tenement package over a strike length of so me 15km. In 2023, the Company completed a
soil sampling program (1,200 samples) targeting previously untested southern extensions to the mineralized
Paciência trend from the currently closed Santa Isabel mine southwards to the tenement limit.
CHANNEL
Channel
Interval
(m)
Estimated
True
Width (m)
Gold
Grade (g/t
Au)
GT (ETW) Zone
MTCH001 3.0 3.0 16.63 49.89 Mata dos Trovões
MTCH002 7.00 7.00 5.42 37.94 Mata dos Trovões
MTCH022 10.40 10.40 8.90 92.56 Mata dos Trovões
TRB 056 13.90 13.90 1.20 16.68 Urubu
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
This program has successfully defined a robust (>100ppb Au), gold in-soil anomaly named Chamé – Cedro that
extends the potential mineralization trend southwards along this structure by 4km. Follow-up surface mapping
and rock chip sampling has reported to date, more the 10 samples with gold values greater than 5 g/t Au with a
peak grade of 22 g/t Au.
Figure 4. Map showing the location of the newly defined , 4km striking Chamé – Cedro gold in-soil
anomaly relative to the Paciência trend within Jaguar’s Paciência complex tenement package.
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JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
Figure 5. Map showing the 4km striking Chamé – Cedro gold in-soil anomaly contoured above 100 ppb
Au, extending immediately to the south of the currently-closed Santa Isabel mine.
Quality Control
All sampling and samples utilized at Jaguar uses 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. Rock channel
sampling of the underground development follows the same standard intervals as for the drill core.
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 and rock chip samples for resource -reserve conversion and
grade control samples are transpor ted for physical preparation and analysis in securely sealed bags to the
Company’s in-house laboratory located at the Caeté complex, in Caeté, Minas Gerais. Growth exploration
samples are sent to the independent ALS Brazil (subsidiary of ALS Global) laboratory located in Vespasiano,
Minas Gerais, Brazil. The analysis of these exploration samples is conducted at ALS Global’s respective facilities
(fire assay is conducted by ALS Global in Lima, Peru, and multi-elementary analysis is 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.
8
JAGUAR MINING INC.
1400-25 Adelaide Street East, Toronto, Ontario M5C 3A1 T: 416-847-1854
For a complete description of the Company’s sample preparation, analytical methods and QA/QC procedures,
please refer to “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.sedarplus.ca.
The drilling results presented in this news release are from drill holes completed by the Company’s own fleet of
diamond drilling rigs.
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, Vice President Geology and
Exploration, 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").
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 Iron
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.
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. The Company's principal operating assets are 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 Grande Mines, and Caeté Plant). The Company also owns the Pa ciência Gold Mine Complex,
which has been on care and maintenance since 2012. The Roça Grande Mine has been on temporary care and
maintenance since April 2019. Additional information is available on the Company's website
at www.jaguarmining.com.
For further information please contact:
Vernon Baker
Chief Executive Officer
Jaguar Mining Inc.
416-847-1854
Alfred Colas
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 information are provided for the purpose of providing information