Jaguar Mining Reports Updated Significant 49% Increase in Mineral Reserves at Pilar Mine, Reinforcing Long Term Growth Strategy
Original announcement by tmx on
- Company
- Jaguar Mining Inc.
- Ticker
- JAG
- Exchange
- TSX
- Region
- Minas Gerais, Brazil
- Primary commodity
- Gold
- Secondary commodities
- None reported
- Document categories
- Resource update
- Extracted
- 2026-08-21 18:51:05 UTC
Analysis by Minestarters Atlas
Minestarters Atlas analysis
Summary
Jaguar Mining has reported a significant 49% increase in Mineral Reserves at its Pilar Mine, totaling 286,000oz of gold. This growth was driven by successful infill and step-out drilling programs and geological model reinterpretation completed during 2025.
Reasoning: The announcement reports a substantial 49% increase in Pilar Mine mineral reserves, driven by successful infill and step-out drilling and geological reinterpretation.
Positive factors
- Significant reserve growth (49%)
- Successful conversion of resources to reserves
- Expansion of mineralized footprint via step-out drilling
- Strong M&I resource growth
Facts used in scoring: 8
Classification and evidence
Tonnage Growthpositive
Significant tonnage increase (≥15%) vs prior estimate with grade maintained or improved.
Why it applies: Pilar Mineral Reserves increased by 94,000oz (49%) compared to previously reported 192,000oz.
Evidence · text
“representing a net increase of 94,000oz in Proven & Probable Mineral Reserves , compared to the previously reported 192,000oz”
Category Upgradepositive
Resource confidence improved — Inferred upgraded to Indicated, or Indicated to Measured. De-risking signal.
Why it applies: Drilling program successfully converted Mineral Resources into Mineral Reserves.
Evidence · text
“Drilling program successfully converted Mineral Resources into Mineral Reserves”
QP/CP Signedpositive
Qualified Person (QP) or Competent Person (CP) named and signed off — a member of a recognized professional association (e.g., AusIMM, SME, AIG, P.Geo) with relevant experience.
Why it applies: Multiple Qualified Persons from SLR Consulting Canada Ltd are named as having reviewed and validated the estimates.
Evidence · text
“Mineral Reserves were estimated by Jaguar staff, reviewed and validated by SLR's Qualified Persons.”
Cut-off Disclosedpositive
Cut-off grade used for resource reporting is clearly stated, enabling like-for-like comparison.
Why it applies: Cut-off grades for various deposits (Turmalina, Pilar, Faina, Onças de Pitangui) are explicitly stated in the notes.
Evidence · text
“Mineral Reserves are estimated using a cut-off grade of 2.59 g/t Au for orebodies A, B, and C at Turmalina deposit and 2.45 g/t Au for Pilar deposit.”
Extracted facts
Stored fact records: 8. Some facts used in scoring do not have a stored record.
Resource Estimates (8)
indicatedgoldTonnes: 2494000Grade: 3.57Grade Unit: g/tContained Metal: 286000Contained Unit: ozHistorical resultNeeds review: historical_restatementView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 2494000
- Grade
- 3.57
- Grade Unit
- g/t
- Contained Metal
- 286000
- Contained Unit
- oz
Review
- Needs Review
- Yes
- Review Reason
- historical_restatement
- Historical
- Yes
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Pilar Mine Proven & Probable reserves increased from 192koz to 286koz.
Positive factors
- Significant tonnage and metal increase
Evidence · text
“Updated Pilar Proven & Probable Mineral Reserves total 286,000oz (2,494 kt @ 3.57 g/t Au)”
indicatedgoldTonnes: 514000Grade: 3.98Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 514000
- Grade
- 3.98
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: BA Orebody contribution to Pilar reserves.
Positive factors
- High grade relative to mine average
Evidence · text
“BA Orebody: 66 koz (514 kt @ 3.98 g/t Au)”
indicatedgoldTonnes: 1211000Grade: 3.62Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 1211000
- Grade
- 3.62
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: BFs Orebodies contribution to Pilar reserves.
Positive factors
- Major contributor to reserves
Evidence · text
“BFs Orebodies : 141 koz (1,211 kt @ 3.62 g/t Au)”
indicatedgoldTonnes: 312000Grade: 3.27Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 312000
- Grade
- 3.27
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: SW Orebody contribution to Pilar reserves.
Evidence · text
“SW Orebody : 33 koz (312 kt @ 3.27 g/t Au)”
indicatedgoldTonnes: 173000Grade: 3.24Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 173000
- Grade
- 3.24
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Torre Orebody contribution to Pilar reserves.
Evidence · text
“Torre Orebody : 18 koz (173 kt @ 3.24 g/t Au)”
indicatedgoldTonnes: 285000Grade: 3.14Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 285000
- Grade
- 3.14
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Other orebodies contribution to Pilar reserves.
Evidence · text
“Other Orebodies : 29 koz (285 kt @ 3.14 g/t Au)”
indicatedgoldTonnes: 1225000Grade: 3.26Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 1225000
- Grade
- 3.26
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Turmalina Mine Proven & Probable reserves.
Evidence · text
“The Proven & Probable Mineral Reserves for Orebodies A, B, & C currently total 128 koz (1,225 kt @ 3.26 g/t Au), unchanged from the previous disclosure.”
indicatedgoldTonnes: 2122000Grade: 4.16Grade Unit: g/tView all detailsHide details
Identity
- Commodity
- gold
- Ticker
- JAG
Resource Data
- Category
- indicated
- Tonnes
- 2122000
- Grade
- 4.16
- Grade Unit
- g/t
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-04-01T00:00:00.000Z
Reasoning: Onças de Pitangui project Probable reserves.
Evidence · text
“Onças de Pitangui project contains Probable Mineral Reserves totalling 284 koz (2,122 kt @ 4.16 g/t Au), unchanged from the previous disclosure.”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.