Brazil Minerals, Inc. Expands Drilling for Gold From 6 to 25 Holes in the Paracatu Project
May 23 2018 - 8:27AM
Via OTC PR Wire -- Brazil Minerals, Inc. (OTC:BMIX) (the "Company"
or "Brazil Minerals") announced today that, given strong initial
results, its subsidiary Jupiter Gold Corporation (“Jupiter Gold”)
expanded the drilling campaign of its Paracatu Project from 6 holes
in an exploratory campaign to 25 holes in a detailed campaign.
Eleven of the twelve holes already drilled have shown visual
evidence of gold.
The target is an alluvial plain along the Rico Creek, which
drains the giant Paracatu gold deposit known as “Morro do Ouro”
(Gold Hill), an ore body of 16 million ounces owned by Kinross Gold
Corporation (NYSE:KGC). Geochemical analysis of the higher
quantity of samples collected in the detailed drilling will allow
for stronger statistical significance of results. In turn, this
will permit more accurate quantification for reporting and for the
preparation of a permit to mine the area. Marc Fogassa, CEO
of the Company, commented, “The initial results in the Paracatu
Project have been highly encouraging and thus it made sense to
expand the campaign. Note that this is our first effort at drilling
an area which is far away from our main Brazilian operations and
yet the logistics have worked out very well. We plan to replicate
this method for many of our other high potential mineral rights –
including claims for gold, diamonds, lithium, and cobalt, among
others.” The senior geologist on the Paracatu Project is Rodrigo
Mello, who has extensive experience in Brazilian gold geology. Mr.
Mello has worked in Brazil for some of the largest gold companies
in the world such as Goldcorp, AngloGold, and AngloAmerican, and
has written 19 geological reports, mostly on gold formations.
Photographs from the Paracatu Project drilling campaign and sample
material retrieved
follow: http://www.globenewswire.com/NewsRoom/AttachmentNg/c3c31a85-6e3a-43d8-b66c-b2e8ef2b7f62
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. 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 royalties and/or
equity positions. Our first equity holdings from such strategy is a
55.4% ownership in Jupiter Gold Corporation. More information on
Brazil Minerals is at 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 do not have “reserves” as such term is
defined in the Securities and Exchange Commission’s Industry Guide
7. Contact: Marc Fogassa CEO, Brazil Minerals,
Inc. (213) 590-2500 info@brazil-minerals.com
www.brazil-minerals.com @BMIXstock
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