en.Wedoany.com Reported - Jaguar Mining announced positive results from the first phase of diamond drilling at the Distrito Aurífero de Paciência gold district in Itabirito, Minas Gerais, Brazil. The new drill holes confirmed the continuity of a large mineralized system between the Chamé, Santa Isabel, Marzagão, and Bahú targets, consolidating a corridor extending over 15 kilometers that has the potential to become a new gold district in the Quadrilátero Ferrífero (Iron Quadrangle).
The drilling campaign comprised a total of 17 holes for 3,764 meters. Of these, eight holes (totaling 2,245 meters) were located at the Chamé target, while the remaining nine holes (totaling 1,518 meters) were concentrated in the Santa Isabel/Marzagão area. Key results from the Chamé target include a 32.21-meter interval grading 0.37 g/t, containing a 6.71-meter interval grading 1.15 g/t; and a 34.30-meter interval grading 0.39 g/t, containing a 1-meter interval grading 2.37 g/t gold. In the Santa Isabel-Marzagão structural zone, the best results include a 7.85-meter interval averaging 2.03 g/t gold, containing a 2-meter interval grading 3.17 g/t; and another 2.11-meter interval grading 3.10 g/t gold, containing a 1.11-meter interval grading 4.62 g/t.
Armando José Massucatto, General Manager of Exploration at Jaguar Mining, stated that the drilling confirmed the physical continuity of the mineralized structure from the Santa Isabel mine towards the southeast and identified a parallel structure at the Chamé target. He noted that the combination of these structures confirms the existence of a high-potential district extending approximately 15 kilometers. Jaguar Mining President Luis Albano Tondo pointed out that these results are part of the company's five-year strategic exploration plan announced at the end of 2025, which aims to systematically evaluate the main targets among over 400 mineralized occurrences within the company's 46,000-hectare land package in the Iron Quadrangle, with the goal of converting new mineral resources into economically viable reserves and expanding the company's gold production in the coming years.
The results indicate that at the Chamé target, low-grade structures were identified in the upper portion of the geological structure, while the structure at the bottom maintained characteristics similar to the Santa Isabel-Marzagão system. The drilling successfully traced mineralization extending over one kilometer beyond the existing underground workings of the Santa Isabel mine. The study also indicates that the geological trend of Paciência is connected to the regional São Vicente lineament (a geological structure approximately 40 kilometers long), which hosts significant gold deposits, including the Morro Velho mine, which historically produced over 10 million ounces of gold between 1834 and 2004.
Comparing the results from the Chamé target with historical data from the Bahú target reveals a high degree of similarity between the mineralized systems. According to the company, the presence of multiple parallel mineralized bodies indicates a robust superimposed structural system, a characteristic considered favorable for the formation of new gold deposits. Jaguar Mining also emphasized that geological mapping and sampling have identified new structures related to the São Vicente lineament, enhancing the potential for low-grade and medium-grade mineralization that could support future open-pit mining projects. With the continuity of these structures confirmed over the entire 15-kilometer extent, the company believes the entire area exhibits characteristics of a world-class gold exploration district.
The Paciência district currently hosts inferred mineral resources of approximately 189,000 ounces of gold, contained within 1.423 million tonnes of ore at an average grade of 4.14 g/t. Concurrently with exploration activities, Jaguar Mining continues preparations for the potential restart of underground mining at the Santa Isabel mine by the end of 2026. Related activities include dewatering, drift rehabilitation, underground development, and a new round of drilling, which will provide the basis for an updated technical report. The company stated that all sample laboratory analyses were conducted by accredited independent laboratories following international quality control protocols. Jaguar Mining operates three gold production complexes in the Iron Quadrangle of Minas Gerais and considers the Paciência district one of the most important growth frontiers in its mineral exploration portfolio.
