Gold junior Jaguar Mining has signed an option agreement with mid-tier producer Iamgold on a package of 28 exploration tenements, covering 27 141 ha in the prolific Iron Quadrangle, in Minas Gerais, Brazil.
The Iron Quadrangle agreement stipulates that Jaguar has the option to earn an initial 60% interest in the package by spending $6-million in exploration expenditures over four years, starting in the third quarter of 2020.
Jaguar will be the project operator and will be subject to oversight by a technical committee with representatives from both companies.