TORONTO / ACCESSWIRE / August 6, 2020 / Jaguar Mining Inc. (“Jaguar” or the “Company”) (TSX: JAG) today announced its monetary and operational effects during the 3 months (“Q2 2020”) and the six months ended June 30, 2020. All figures are in U.S. dollars, unless otherwise noted.
Second Quarter 2020 Operating Summary
Summary of second quarter 2020 monetary results
Vern Baker, president and CEO of Jaguar Mining, said: “These strong effects of the quarter reflect our steady progress toward our 25,000-ounce sustainable goal consistent with the quarter. And gold prices. We are pleased to announce that this is our fifth consecutive quarter with the expansion of ounce production. All members of our Brazilian team of miners have demonstrated their commitment to get our company through the existing COVID-19 crisis and the construction of a sustainable organization.
COVID-19 reinforces our main threat in terms of maintaining momentum. Cases in Brazil are increasing and our team has reported their first cases with our staff. However, the team remained calm and focused, and others who were positive about the virus have now returned to their pictures after proper quarantine. All our painters are running to manage our trail through the COVID-19 problem, and we have developed plans to deal with possible scenarios as the stage continues to unfold.
Vern added: “We are pleased to announce that the Pilar gold mine reached a new production record for the quarter with 13,452 ounces produced. Production at the Turmalina gold mine continues to improve, and this quarter saw an increase of 6% compared to the previous quarter. 10,031 ounces produced. The matrix and progression rates in Turmaline are sufficient to increase production in the part of the year.
Jaguar enters the moment part of the year with a very solid balance, a sustainable production platform, adequate exploration opportunities, an impressive position in the iron ring; whether in acres and to have infrastructure, and an exceptional monetary position. As a result of this strong performance, our Support Board approved more expenses in 2020 for exploration and allocation assessment. “
Second Quarter 2020 monetary results
Related images Table 1 Table 2
Cash and use of funds
Qualified people
Clinical and technical data contained in this press release reviewed and approved through Jonathan Victor Hill, BSc (Hons) (Geolog Economicy – UCT), Senior Expert Advisor in Geology and Exploration at the Jaguar Mining Administration Committee, who is also a worker at Jaguar Mining Inc., and is a “qualified person” within the meaning of Regulation 43-101 – Mining Project Information Standards (Regulation 43-101).
The Iron Ring
The iron quadrangle is a mining exploration domain dating back to the 16th century. The discovery in 1699-1701 of iron-contaminated gold and platinum organization metals in the southeast corner of the iron ring gave rise to the city call Ouro Preto (black gold). World-class gold ring gold deposits of several million ounces such as Morro Velho, Cuiabá and Sao Bento. Jaguar occupies the moment in the largest gold land position in the iron ring with just over 25,000 hectares.
About Jaguar Mining Inc.
Jaguar Mining Inc. is a Canadian-listed gold mining, progression and exploration junior company operating in Brazil with 3 gold mining complexes and giant terrain with significant prospects for significant exploration of approximately 64,000 hectares of mineral concessions. The company’s main operating assets are located in the Iron Quadranlum, a prolific green rock belt in Minas Gerais state, and come with the Turmalina gold mining complex and the Caeté mining complex (Pilar and Roca Grande mines and the Caeté plant). The Company also owns the Gold Mine Complex, which has been the subject of care and majortenance since 2012. The Roca Grande mine has been majordinate and temporarily majordinated since April 2019. Additional information can be found on the company’s online website at www. jaguarmining.com.
For information, contact:
Vernon Baker, JEFE Jaguar Mining [email protected]
Hashim Ahmed Chief Financial Officer Jaguar Mining Inc. [email protected]
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 about management’s expectations and plans relating to the future. All of the forward-looking information made in this news release is qualified by the cautionary statements below and those made 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,” “anticipates,” “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. This news release contains forward-looking information regarding, among other things, expected sales, production statistics, ore grades, tonnes milled, recovery rates, cash operating costs, definition/delineation drilling, the timing and amount of estimated future production, costs of production, capital expenditures, costs and timing of the development of projects and new deposits, success of exploration, development and mining activities, currency fluctuations, capital requirements, project studies, mine life extensions, restarting suspended or disrupted operations, continuous improvement initiatives, and resolution of pending litigation. The Company has made numerous assumptions with respect to forward-looking information contained herein, including, among other things, assumptions about the estimated timeline for the development of 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; political and legal developments in any jurisdiction in which the Company operates 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 meeting the forecast plans regarding its operations and financial performance; uncertainties with respect to the price of gold, labour disruptions, 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, development and production industry, which, if incorrect, may cause actual results to differ materially from those anticipated by the Company and described herein. In addition, there are risks and hazards associated with the business of gold exploration, development, mining and production, including environmental hazards, tailings dam failures, industrial accidents and workplace safety problems, unusual or unexpected geological formations, pressures, cave-ins, flooding, chemical spills, procurement fraud and gold bullion thefts and losses (and the risk of inadequate insurance, or the inability to obtain insurance, to cover these risks). Accordingly, readers should not place undue reliance on forward-looking information.
For more information on these and other points underlying the forward-looking data presented in this press release, please refer to the Company’s Recent Maximum Management Report and Annual Notice, as well as other public disclosure documents found at “Jaguar Mining Inc.” SEDAR emitter profile in www.sedar.com. The forward-looking statements reflect the Company’s moderate expectations as of the date of this press release and would possibly replace it after that date. The Company disclaims any objective or legal responsibility to update or revise any forward-looking information, whether as a result of new data, long-term or otherwise, unless required to do so by law. The prospective data contained in this press release are expressly qualified through this precaution.
Non-CONFORMing measures
This press release provides secure monetary measures that do not have a standardized requirement through IFRS. Readers are asked to read the footnotes when the company develops its use of non-IFRS-compliant measures.
SOURCE: Jaguar Mining Inc.