PASADENA, California, September 20, 2018 /PRNewswire/ --
Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today its extensive drilling campaign in one of its several mineral rights in the Jequitinhonha River Valley in northern Minas Gerais state in Brazil yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed, according to members of the Company's technical team with expertise in alluvial diamond exploration. Marc Fogassa, CEO of the Brazil Minerals, stated, "Our identification of an initial diamond-rich zone within a gold mineralization area is a very good outcome. It is relevant to note that this particular mineral right has 1,310 acres and this drilling campaign covered only a small portion of such area."
Brazil Minerals drilled 35 holes spaced 30 to 50 meters apart utilizing a Banka 4-inch percussion rotary drill. As reported by the Company in its September 18, 2018 press release, all drill holes were positive for fine gold. Further analysis of the campaign's results and inspection of collected samples indicate that there is a diamond-rich zone in the area as well. Satellite markers for diamonds, such as limonite, rutilite and tourmalinite, among others, were observed in all samples recovered within this diamond-rich zone. The Jequitinhonha River Valley where this mineral right is located has been a well-known source of gem-quality alluvial diamonds for over two centuries.
BMIX Mineral Bank:
Gold: 119,989 acres
Diamond (kimberlites): 92,961 acres
Diamond (alluvial): 27,612 acres
Cobalt/Copper/Nickel: 5,011 acres
Iron/Titanium/Vanadium: 4,938 acres
Lithium: 288 acres
Manganese: 4,970 acres
Aquamarine/Beryl/Tourmaline: 288 acres
Sand (construction industry): 4,995 acres
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) along with its subsidiaries has a business model focused on: 1) mining specific areas for gold and diamonds and 2) generating projects from its portfolio of high-quality mineral rights for transactions leading to attractive equity positions and/or royalties. Our first equity holding from such strategy is Jupiter Gold Corporation (OTC: JUPGF). More information on Brazil Minerals is at http://www.brazil-minerals.com. Follow us on Twitter: @BMIXstock .
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Brazil Minerals, Inc.'s management and are subject to risks and uncertainties, which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, Brazil Minerals, Inc.'s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. We advise U.S. investors that the claims listed in the BMIX Mineral Bank are exploratory in nature, and as of now BMIX does not have "reserves" as such term is defined in the Securities and Exchange Commission's Industry Guide 7.
UCS Advisors and IR, LLC
SOURCE Brazil Minerals, Inc.