Jaguar Mining Commences New Underground Drilling for Gold at Turmalina Mine

TORONTO, September 22, 2026 /CourierPR/ -- Jaguar Mining Inc., a Canadian-listed junior gold mining, development, and exploration company operating in Brazil, has announced the commencement of a new underground diamond drilling program at its Turmalina mine in Minas Gerais, Brazil. The program aims to test two growth opportunities: the depth extension of the Faina orebody and an upper-level extension of orebody A, referred to as the A/SE2 lens, which has never been systematically drill-tested.

The new exploration drift, which will serve as the drill platform for the campaign, has begun developing a dedicated 80-metre underground exploration drift, expected to be completed by early October 2026. This will provide access to the SE2 target, which lies between the A1 and A3 mine levels, and across the interval between the +640 m and +400 m elevations (sea level). The program will cover a panel of approximately 105m along strike by 285m down-plunge, representing an extension of orebody A that has never been drill-tested at these upper levels.

The program will test the depth extension of the Faina orebody, with seven drillholes (2024m in total) already completed, testing down to the 640m level. Core logging and sampling are underway, with assay results to be released in due course. This represents the first phase of a multi-orebody drilling program at the Turmalina mine.

The A/SE2 lens, which has never been systematically drill-tested, will be the focus of the program. The campaign design includes 20 planned drillholes totalling approximately 2,380m, with roughly 50 meter × 50 meter spacing between impact points. Drilling will be conducted from the new 80m exploration drift, providing efficient underground access to test the A/SE2 lens across the targeted +640m to +400m interval.

The A/SE2 lens is the upper-level extension of orebody A, and the program targets the hanging-wall continuity (SE2 lens) of orebody A across the interval between the +640 m and +400 m elevations (sea level). The program is based on supporting indications from limited historical diamond drillholes that intercepted the target zone and were assayed, with several returning positive gold results. The program could extend known mineralization directly within the operating underground mine, accessible from existing infrastructure.

The exploration rationale for the A/SE2 lens lies between the A1 and A3 mine levels, developed during the early stages of the Turmalina operation. The A400 level was the first level developed and mined within the SE2 lens, but the lens was not adequately drilled and remains almost entirely untested. As a result, its continuity was not confirmed, and the lens was neither fully developed nor mined. If drilling confirms the mineralization, this represents a significant, largely unexplored opportunity located directly within the existing mine.

Orebody A is characterized by high-grade gold mineralization with strong historical metallurgical performance, an average gold recovery of approximately 88.20% across all ore processed to date. This consistent performance reinforces the economic relevance of confirming further mineralized continuity along the SE2 hanging-wall extension through the current drilling program.

The mineralization occurs within biotite schists that experienced medium- to high-grade metamorphism at temperatures of approximately 650°C. The primary ore assemblage consists of arsenopyrite, löllingite, pyrrhotite, pyrite, and gold. A subsequent paragenetic stage is recognized, marked by gold remobilization coeval with the precipitation of native bismuth and bismuth tellurides.

The exploration campaign design comprises 20 drillholes totaling approximately 2,380m, with roughly 50 meter × 50 meter spacing between impact points. Drilling will be conducted from the new 80m exploration drift, providing efficient underground access to test the A/SE2 lens across the targeted +640m to +400m interval.

The planned campaign comprises 20 drillholes totaling approximately 2,380m, with roughly 50 meter × 50 meter spacing between impact points. Drilling will be conducted from the new 80m exploration drift, providing efficient underground access to test the A/SE2 lens across the targeted +640m to +400m interval.

The campaign design includes 20 planned drillholes totalling approximately 2,380m, with roughly 50 meter × 50 meter spacing between impact points. Drilling will be conducted from the new 80m exploration drift, providing efficient underground access to test the A/SE2 lens across the targeted +640m to +400m interval.

The campaign design includes 20 planned drillholes totalling approximately 2,380m, with roughly 50 meter × 50 meter spacing between impact points.