PASADENA, Calif., Feb. 22, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE--Brazil Minerals, Inc. (USOTC:BMIX) (the "Company" or "Brazil Minerals") announced today that a new field in one of its properties in the Jequitinhonha River valley in Brazil is beginning to produce gold and diamonds. The Company is actively removing alluvium-type mineralized material found after excavating 60 feet deep in a dry area. Every truckload of material processed in the modular recovery unit operated by the Company has yielded fine gold. The concentration of gold obtained from each production run has varied, which is expected from an alluvium-type deposit, and ranged from economically feasible to highly attractive. Additional production data will allow the calculation of a gold concentration average for the deposit. Gem-quality diamonds have also been recovered from sectors of this deposit. A photograph of the mining area follows.
As the dry season begins next month, the Company also plans to execute drilling campaigns on several targets. Some of the drilling will be near the current gold and diamond mining area, looking for additional deposits. Other high potential targets to be evaluated will come from claims owned by the Company and ranked from within the BMIX Mineral Bank, its repository of properties. Brazil Minerals intends to prioritize evaluation of its new lithium claim. Additionally, the Company is actively analyzing other high-quality claims in various minerals to add to the BMIX Mineral Bank.
BMIX Mineral Bank:
Aquamarine/Tourmaline/Beryl: 288 acres
Diamond (kimberlites): 92,961 acres
Diamond (alluvial): 27,612 acres
Gold: 105,370 acres
Lithium: 288 acres
Manganese: 4,970 acres
Sand: 4,995 acres
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (USOTC:BMIX), through various consolidated subsidiaries has title to mining concessions for gold and diamonds, and a mineral bank with rights for multiple minerals, including lithium and manganese, and sought-after gems, including aquamarine, tourmaline, and beryl. One of BMIX's subsidiaries [perhaps state the percentage owned by BMIX?] is Jupiter Gold Corporation ("Jupiter Gold"). More information on BMIX 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.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/dd6e7c06-210a-4ed0-8dd7-95a723eacd65