PASADENA, Calif., May 23, 2018 (GLOBE NEWSWIRE) -- 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