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Friday, 20th July 2007 (2784 views)

Gold exploration company Jaguar Mining has provided an update of its operations at its newly commissioned Turmalina facility.

Following exploration, the measured and indicated resources at the gold mine have been increased by ten per cent.

Highlights of the company's update include its third mineralised zone at Turmalina which added 68,400 ounces of measured and indicated resources and 207,700 ounces of inferred resources to the company's holdings.

Also, an estimated 661,200 ounces of measured and indicated gold resources and 119,450 ounces of inferred resources were discovered at the company's Caete project.

"We continue to execute on the plan to reach 300,000 ounces of gold production in 2009 and these latest developments are further proof that we have the necessary assets to achieve that goal, including substantial mineral resources, an experienced and highly-skilled operating team in Brazil and the necessary financial capital," commented Daniel Titcomb, president of Jaguar.

He added that Jaguar's latest exploration results are further evidence of the "sizeable" potential in the region's greenstone belt, which it claims has an excellent infrastructure.

 

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