BRAZIL MINERALS, INC. EXPANDS DRILLING FOR GOLD FROM 6 TO 25 HOLES IN THE PARACATU PROJECT
May 23 2018 - 8:25AM
InvestorsHub NewsWire
BRAZIL MINERALS, INC. EXPANDS DRILLING FOR
GOLD FROM 6 TO 25 HOLES IN THE PARACATU
PROJECT
Pasadena, CA -- May 23, 2018 -- InvestorsHub
NewsWire -- 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:
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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