PASADENA, Calif., May 09, 2018 (GLOBE NEWSWIRE) -- Via OTC PR Wire -- 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