BRAZIL MINERALS, INC. PROVIDES INITIAL TEST RESULTS OF
GOLD RETRIEVAL UNIT
PASADENA, CA -- July 20, 2016 -- InvestorsHub NewsWire -- Brazil
Minerals, Inc. (OTC:
BMIX) (the "Company" or "BMIX") today gave a brief update on
its first test of a new gold recovery platform. A Gold Retrieval
Unit (GRU) test run of 6.8 cubic meters of material produced
59.1 grams (approximately 1.9 troy ounces) of 96% gold, now
molten into a gold bar, as seen in an attached photograph.
Note: The photographs cited in this press release are available
in the version posted on the Companys website (www.brazil-minerals.com).
Last week, BMIX's initial portable GRU test ran material
originated from the waste pile, a sand tailing box, and the new
mining area. The Company cautions that the samples were small and
certain waste from its large plant had high concentrations of gold.
Nevertheless, the test afforded several important conclusions as
described below.
1) Every material processed by the GRU
yielded gold. This confirmed that centrifugation is an effective
recovery method for the fine gold prevalent in BMIX's properties
along the Jequitinhonha River valley.
2) BMIX believes that the concentration
of gold per cubic meter from alluvial material originating from the
new mining area was attractive and will be economical with
mechanization to increase the throughput. Tests are continuing on
additional samples. The material from the new mining area at
disposal to run in GRUs, or retrievable from the locale, is very
large.
3) Diesel cost as a percentage of the
expected revenue from the sale of the gold bar this week was only
approximately 1%. Internal Company calculations show that diesel
cost should run at 5% or less of the revenues of GRU-based
operations. In the past, with retrieval of gold and diamonds in the
large plant, diesel was by far the highest operating cost, at a
substantial multiple of this anticipated level.
4) For effective, continuous operations,
the GRUs ideally should be larger and mechanized. The test used
manual labor for sieving of material before passage to the
centrifuge, which required on average three workers and yet
precluded a large volume from reaching the GRU. A mechanized
sieving system will achieve much higher throughput per hour and use
less direct labor. BMIX plans to acquire or build mechanical sieves
but wants first to perform additional tests to solidify
specifications. A photograph attached to this press release shows
the GRU used in the test.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC:
BMIX) is a producer of diamonds, gold, sand, and industrialized
mortar. We have title to 32 mineral rights for gold, diamonds,
manganese, and sand, including 10 mining concessions for gold and
diamonds, the highest level of right to mine in Brazil. More
information on BMIX is at www.brazil-minerals.com.
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, BMIX'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.
Cautionary note regarding estimates of Indicated and
Inferred Mineral Resources of Diamonds and Gold as found in MDBs NI
43-101 Technical Reports.
We advise U.S. investors that while these terms and amounts
are recognized by Canadian regulations, the U.S. Securities and
Exchange Commission (SEC) does not recognize them. U.S. investors
are cautioned not to assume that any part or all of the mineral
deposits in these categories will ever be converted into mineral
reserves as defined by the U.S.'s Industry Guide 7.
Cautionary note regarding estimates of Mineral
Reserves of Diamonds and Gold as found in MDBs Bankable Feasibility
Study.
We advise U.S. investors that while these terms and amounts
are recognized by Brazilian regulations, the SEC does not recognize
them. U.S. investors are cautioned not to assume that any part or
all of the mineral deposits in this category will ever be converted
into mineral reserves as defined by the U.S.'s Industry Guide
7.
Cautionary note regarding estimates of Volume and
Weight of Sand as found in MDBs studies filed with the local
Brazilian regulatory agencies.
We advise U.S. investors that while sand volume and weight
terms and amounts as filed in Brazil are recognized by Brazilian
regulations, the SEC does not recognize them. U.S. investors are
cautioned not to assume that any part of such are not considered
mineral reserves as defined by the U.S.'s Industry Guide
7.
Cautionary note regarding estimates of potential
mineralization for gold of the Apui/Borba Project with the local
Brazilian regulatory agencies.
We advise U.S. investors that potential mineralization for
gold of the Apui/Borba Project with Brazilian regulators is not
recognized by the SEC. U.S. investors are cautioned not to assume
that any part of such potential mineralization is or will ever
become mineral reserves as defined by the U.S.'s Industry Guide
7.
Contact:
Marc Fogassa
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com