Jaguar Mining Announces Increase in Mineral Reserves and Resources for 2023

Jaguar Mining Inc. has released its annual Mineral Reserves and Resources report, highlighting substantial growth in its key indicators for 2023. Proven and probable (2P) reserves saw a net increase of 4%, standing at 470 koz. This growth is partly attributed to the addition of reserves to the Faina project, offsetting observed depletions due to mining at the Pilar and Turmalina mines.

On the resources front, Jaguar reported a 27% rise in measured and indicated resources, which now stand at 1.676 koz, and a 41% jump in inferred resources, reaching 1.628 koz. Significant additions mainly come from the Onças de Pitangui project.

The company plans to maintain a constant level of production at the Pilar operation until 2028, while the Turmalina complex, benefiting from contributions from the Faina project, is expected to see an increase in its operational life beyond 2030. Project development continues to advance, with significant updates expected in future MRMR estimation cycles.

Vern Baker, CEO of Jaguar Mining, highlights the positive impact of these results on the company's organic growth strategy and its long-term future. Investments in exploration and acquisition of new deposits help ensure reserve replacement and growth of the company's resources.