Jaguar Mining Increases Measured/Indicated Minteral Resources at Gurupi Gold Project; Shares Pop 22.5%

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Jaguar Mining Inc. ( JAG ) is up 22.6% at $0.83 on volume of 2.93 mln, above the 30-day avg of 2.32 mln. The trading activity follows the company's announcement that it has increased its estimated measured and indicated mineral resources at its Gurupi Project to 3.2 million ounces of gold based on analysis of recent drilling results. The resources, stated at a cutoff grade of 0.33 g/t Au, include 35.65 million tonnes of Measured Resources at 0.86 g/t Au and 75.02 million tonnes of Indicated Resources at 0.93 g/t.

JAG trades in a 52-week range of $0.60 - $8.18. Shares have declined 82.8% in the last 12 months.

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This article appears in: Investing Commodities
Referenced Stocks: JAG


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