Jaguar Mining completes strategic acquisition of Brazilian assets of Iamgold

Map: Jaguar Mining

Jaguar Mining announces the successful closing of its previously announced acquisition  of the Pitangui Project and the remaining interest in the Acurui Project from a subsidiary of Iamgold Corporation.

In connection with the Transaction, the Company also granted to the Vendor a net smelter returns royalty.  

Vern Baker, President and CEO of Jaguar, stated: "We are very pleased to have completed this transaction to purchase IAMGOLD's Brazilian assets. The transaction increases our resource base and furthers our corporate strategy to leverage our extensive existing infrastructure to drive production growth through increased plant throughput. Going forward, our plan is to focus on permitting the Pitangui Project and move it into development as quickly as is possible. The Acurui Project complements our Paciencia property and will be considered a part of the exploration and development package we have available to restart production at Paciencia in the future."

The Iron Quadrangle

The Iron Quadrangle has been an area of mineral exploration dating back to the 16th century. The discovery in 1699–1701 of gold contaminated with iron and platinum-group metals in the southeastern corner of the Iron Quadrangle gave rise to the name of the town Ouro Preto (Black Gold). The Iron Quadrangle contains world-class multi-million-ounce gold deposits such as Morro Velho, Cuiabá and São Bento. Jaguar holds the third largest gold land position in the Iron Quadrangle with over 50,000 hectares.

Jaguar Mining Inc. 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.