Jaguar Mining Intersects High-Grade Gold at Faina Orebody, Confirming Continuity of Mineralization at Turmalina Mine
Jaguar’s infill drilling at Faina confirms high-grade continuity for its $445 million producing project.
Jaguar Mining Inc. (JAG) has released the initial assay results from a drilling program targeting the Faina orebody at its Turmalina Mine. The company stated that the findings validate its geological model and confirm the continuity of mineralized bodies, while also highlighting improved metallurgical recovery of approximately 70% in the industrial plant, compared to 55% in prior laboratory tests. These developments support plans to resume full mining operations at Faina.
Key drill intercepts reported include: - FAI0177: 3.40 m @ 7.67 g/t Au (including 1.64 m @ 13.67 g/t Au) - FAI0178: 5.39 m @ 11.88 g/t Au (including 3.58 m @ 17.99 g/t Au) - FAI0182: 2.14 m @ 9.01 g/t Au and 3.13 m @ 22.46 g/t Au (including 2.40 m @ 28.46 g/t Au)
Jaguar Mining Inc. (JAG) is a producer with a $445M market cap and $75M in cash. The recent drill results originate from an existing orebody at a recently restarted mine, confirming the continuity of known high-grade lenses. These findings will aid short-term mine planning but do not materially alter the resource base or production profile.
The market already anticipates a ramp-up at Turmalina, with Q2 2026 production reaching 13,057 oz, which included 10% Faina ore. The stock has retraced from $9.46 to $5.22 amid broader market and operational concerns. While the intercepts are positive, the news is considered routine and not materially new or transformative, with positive metallurgical developments viewed as incremental.
Jaguar Mining Inc. (JAG) is a Canadian-domiciled junior gold producer operating in Brazil’s Iron Quadrangle. Its principal assets include the Caeté Complex, featuring the Pilar mine with an annual production of approximately 40,000 ounces; the MTL Complex, which includes the Turmalina mine currently restarting with the Faina orebody; and the Paciência Complex, where the Santa Isabel mine is planned for restart. The company holds total proven and probable reserves of 858,000 ounces of gold as of December 2025.
For fiscal year 2025, Jaguar Mining produced 40,254 ounces of gold, with guidance for 2026 set between 50,000 and 60,000 ounces. Financial results for the first quarter of 2026 reported revenue of $44.6 million and net income of $4.7 million. The company holds $71.2 million in cash with no net debt. Major shareholder Eric Sprott holds approximately 48% of the company.