JAGUAR MINERALS LIMITED - ASX: JAG

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Description

Jaguar Minerals Ltd (Jaguar) was founded in 2003 as a wholly-owned subsidiary of Australian miner and explorer Herald Resources Ltd. Jaguar and Herald entered into a sale agreement whereby Jaguar acquired Herald's interest in 5 Australian projects.

Listing on the Australian Stock Exchange in July 2004 Jaguar has set about discovering and developing high value mineral deposits, thereby delivering capital growth to shareholders and dividends where appropriate. Since listing Jaguar has continued to modify its project portfolio through regular review of other projects and opportunities that could generate added value to Jaguar's existing portfolio. Our ability to expediently assess and react to presented opportunities creates an ideal environment in which to grow the company and compliment our existing assets.

In 2008 Jaguar added two new projects to its portfolio, the Mt Jukes copper-gold, base metal project in North West Tasmania and through a joint venture agreement with Barrick Gold Australia's wholly owned subsidiary Sundowner Minerals, Jaguar is earning an 80% interest of the base metal rights at North Darlot, Western Australia.

The Company has a commitment to seeing that exploration funds are spent in the ground and follow up work programmes are continually being developed. A detailed review of the historical data obtained with the two new projects has been undertaken. This has highlighted specific target areas, with work programmes designed to test these areas.

Results from Jaguar's previous work programmes have highlighted several anomalies and Jaguar is looking forward to drilling these significant targets in upcoming field seasons.

The Directors of Jaguar consider the current projects to have a high degree of upside prospectivity each with potential for positive exploration success.

Mt Jukes Project

Located in western Tasmania, south of Queenstown, the addition of the Mt Jukes tenement to Jaguar's portfolio gives the company a significant 130km2 holding, it covers a strike length of 20 km of the Mt Read Volcanics (MRV), a suite of rocks renowned for hosting world class Volcanic Hosted Massive Sulphide ("VHMS") deposits such as the Mt Lyell copper gold deposit and the Rosebery base metal mine that has run continuously since 1936.

The main commodities of interest at Mt Jukes, are copper and gold although significant scope for zinc, lead, and silver mineralisation exists throughout the tenement. The tenement is host to numerous prospects, many of which haven't seen modern exploration techniques applied to them. The primary exploration model that Jaguar will initially target at Mt Jukes is the Mt Lyell and Jukes Proprietary style copper-gold deposits. It is possible however, that there is potential to find any one of a range of, gold-only (Henty style) and/or gold-rich polymetallic (Rosebery-style), deposits that occur in the Mt Read Volcanics.

Wilson River (Zinc, Lead, Silver)

The Wilson River tenement (EL23/2003) is located in the north-west Tasmania, some 65km south-west of Burnie and 15km south west of the Mt Bischoff tin mine (Metals X). The licence area is 9km2 and 100% owned by Jaguar, with a 1% net smelter Royalty to the vendors. Since 2004 Wilson River has seen the delineation of a 3km lead, zinc, silver anomaly along the contact of a granite/ultramafic contact.

Since the Company's first discovery of the lead, zinc anomaly several drill programs have been completed. From eleven holes targeting this anomaly, eight holes have intersected mineralisation with four holes intersecting significant lead, zinc mineralisation. Drilling targeted the northern and central parts of the 3km anomaly over a strike length of 2km. The southern part of the anomaly is still to be tested.

Temma (Copper, Base Metals)

The Temma project (EL 27/2005) is located in the north-west Tasmania on the West coast approximately 25 km south of the township of Arthur River and some 30km North West of the Savage River magnetite mine. The licence area is 127 km2 and was pegged and granted to Jaguar in 2005.

North Darlot Joint Venture

In July 2008 Jaguar Minerals finalised an option/joint venture agreement with Barrick (Darlot) NL (formerly Sundowner Minerals N.L.). Jaguar has the right to earn an 80% interest in the lead, zinc, copper and associated silver rights (¿Base Metals¿) by expending $1.2M on exploration over 5 years. The option/joint venture agreement allows Jaguar to explore for base metals on a package of Barrick¿s Darlot tenements in the Leonora region of Western Australia.

Mt David (Gold, Copper)

The Mt David tenement is situated in a strongly prospective area of New South Wales (NSW) called the Lachlan Fold Belt (Rangott, 2004). The Lachlan Fold Belt hosts several large mineral deposits ranging from Ordovician in age to Recent (including Cadia, Ridgeway, Lucknow and Browns Creek etc). Consisting of one exploration licence covering 163 km2 the Mt David tenement is located 35km south of Bathurst in central NSW.

Springfield

The Springfield tenement covers approximately 70 km2 and is located between the towns of Gulgong and Mudgee in Central NSW. Numerous gold prospects in the region of Springfield are believed to be the prime source of the +500k ounces of alluvial gold produced in the Gulgong area between 1872 and 1927. The hard rock gold sources discovered to date in the area do not explain the amount of historical alluvial gold won from the Tertiary deep leads.

The wholly owned project is host to a mineral resource at the Springfield prospect which was discovered in 1989. Reverse Cycle and diamond drilling down to only 150m below surface has defined an estimated 1.05Mt at 1.4 g/t for a contained 47,000 ounces of gold. Jaguar has a royalty agreement over this resource and a surrounding area of 11.6km2.

Mine For

gold, copper, lead, silver, zinc

Location of operation(s)

Tasmania, Western Australia, New South Wales

Address

Level 1, 703 Murray St
WEST PERTH, WA, AUSTRALIA

Phone

(61 8) 9485 0911

Email

Website

http://www.jaguarminerals.com.au

Last Updated

13/5/2011