During the drilling at drill hole PPL302, the company has intercepted 18.22 grams per tonne gold over 7.4 meters during the underground exploration.
The drilling program, which was initially launched in Q3 2014 and focuses to test the potential depth extensions of mineralization below the current mine, working levels.
The pillar mine is one of the two underground mines that gives ore to the Caete Complex ("Caete") and represents approximately two-thirds of the ounces produced at Caete.
Jaguar Mining said that this drilling program also includes representative intercepts at ore body C that have been confirmed by previous results of nearby drill holes.
Jaguar Mining CEO George Bee said:"These drill hole intercepts confirm the potential of expanding reserves and resources at the Pilar Mine, thereby potentially expanding the existing life-of-mine and production profile.
"With these results, we have re-initiated mine planning activities in order to consider a restart of primary and secondary development activities at Caeté, however, any decision to restart development activities will be deferred until the current exploration program is concluded, mine planning/costing has been completed and positive economic results from a restart of development are evident."
