(Kitco News) - Jaguar Mining (TSX: JAG) reported Tuesday that in Q3 2022, its consolidated gold production was 21,161 ounces, 6% lower than Q3 2021 production of 22,603 ounces.
The company said that gold production at Pilar was lower by 9% with 11,195 ounces for the quarter compared to 12,338 ounces produced in Q3 2021, while gold production at Turmalina was lower by 3% with 9,966 ounces for the quarter, compared to 10,265 ounces produced in Q3 2021
Jaguar also noted that its total development of 3,000 metres for Q3 2022 represented an increase of 15% compared to 2,615 metres for the same period in 2021, adding that total definition, infill and exploration drilling of 21,359 metres for the quarter represented an increase of 13% compared to 18,852 metres for the same period in 2021.
President and CEO Vern Baker commented, "In terms of production, Turmalina actually had one of its best quarters since 2021; the mine showed good consistency in both stoping and development, and we expect that to strengthen over the next quarter. At Pilar, production was slightly lower due to cycling issues related to backfilling limited higher-grade stoping blocks. Pilar expects to be back on track with consistent performance in the next quarter. Jaguar's third quarter continues to be defined by our internal development projects and exploration success."
Jaguar Mining is a Canadian-listed junior gold mining, development, and exploration company operating in Brazil with three gold mining complexes and a large land package with significant upside exploration potential from mineral claims.
The company's principal operating assets are located in the Iron Quadrangle, a prolific greenstone belt in the state of Minas Gerais and include the Turmalina Gold Mine Complex and Caeté Mining Complex (Pilar and Roça Grande Mines, and Caeté Plant).
