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Jaguar Mining ups total resource by 72% to 6.035 million ounces

Last updated: 18:24 07 Dec 2009 GMT, First published: 19:24 07 Dec 2009 GMT

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Jaguar Mining Inc (TSX, NYSE: JAG) said the recently filed  National Instrument 43-101 statement of resources technical report on its newly acquired Gurupi project in Northern Brazil has increased the group’s total measured and indicated gold resource by 72 percent from the previously filed statement.

Jaguar's measured and indicated gold resources now total approximately 95,233,340 tonnes at an average grade of 1.97 grams per tonne for approximately 6.035 million ounces.

Inferred resources are estimated at approximately 26,072,000 tonnes at an average grade of 2.08 g/t for approximately 1.744 million ounces. The increase in inferred ounces over the company's previously filed statement rose 55 percent.

A feasibility study for the Gurupi open pit project is being prepared and is expected to be completed during the first quarter of 2010.j

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