BRAZIL MINERALS, INC. ADVANCES ITS LITHIUM PROJECT
May 09 2018 - 8:35AM
InvestorsHub NewsWire
BRAZIL MINERALS,
INC. ADVANCES ITS LITHIUM PROJECT
Pasadena, CA -- May 9,
2018 -- InvestorsHub NewsWire -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or
"Brazil Minerals") announced today that it has been advancing the
pre-drilling phase on its 288-acre lithium project located in the
region of Salinas, state of Minas Gerais, in Brazil. This mineral
right is inserted within the district chosen by CPRM (“Companhia de
Pesquisa de Recursos Minerais”), the Brazilian geological survey,
as the most prospective ground for lithium in Brazil. Recently, the
Company retained two consulting geologists for development and
intends to field an in-loco campaign in the second
semester of 2018. Separately, Brazil Minerals has already been
approached, on an unsolicited basis, by interested parties.
The indications are that the claim’s terrain is granitic and
composed of LCT (lithium, cesium, tantalum) pegmatites. A nearby
property has seen exploration of a pegmatite with lepidolite and
amblygonite, two lithium bearing minerals. In this district,
the identified lithium deposits are
associated with pegmatite formations, as seen in the photographs
attached.
Brazil’s lithium reserves
are expected to grow to 8% of the world’s total. Today, Argentina,
Chile and Bolivia, together, respond for 70% of the world's known
lithium reserves. Demand for lithium is outstripping production and
is primarily driven by growth in electric vehicles and smart
phones.
Brazil Minerals has built a portfolio of high quality mineral
rights (the “BMIX Mineral Bank”) and continues to add areas
methodically. The Company regularly evaluates and prioritizes its
research effort on such properties and utilizes its own team and
equipment for drilling.
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