PASADENA, Calif., July 22, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (BMIX) (the "Company" or "Brazil Minerals") announced that it has expanded its lithium footprint in Brazil over 32-fold to now 9,677 acres by adding three lithium claims totaling 9,389 acres in the state of Minas Gerais last week. Brazilian lithium comes primarily from hard-rock spodumene deposits recognized as one of the highest-quality in the world due to lower impurities and thus better suited for high technology applications such as batteries for electric vehicles and portable computing devices. Besides Brazil, there are only a few significant spodumene deposits globally, such as one in Canada being developed by Nemaska Lithium.
Areli Nogueira, Senior Geological Engineer at Brazil Minerals, commented: “There are three major districts in the Litiniferous Pegmatite Province of Minas Gerais and our claims provide us with excellent potential presence in one of these districts. In fact, two of our areas are only one mile from a known lithium ore formation contained in a main gemstone mine. Gemstones such as beryllium, aquamarine, and tourmaline occur in the same pegmatites as spodumene and other lithium-bearing minerals.”
Besides spodumene [LiAl(SiO₃)₂], other minerals containing lithium that are found locally include petalite [LiAlSi₄O₁₀], amblygonite [(Li,Na)AlPO4(F,OH)], and lepidolite [K(Li,Al,Rb)2(Al,Si)4O10(F,OH)2]. A photograph of Mr. Areli holding a sample of hard-rock spodumene is attached below.
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/cd5ff288-e438-4de1-9f9c-c832b5894725
Marc Fogassa, CEO of Brazil Minerals, commented, “Our primary focus is mining gold and diamond, and continuing to strengthen our balance sheet. In parallel, we continue with active analytical intelligence regarding areas we consider key to our expansion. High-quality lithium is rare and demand continues to rise, and as such the markets provide attractive valuations to public companies exploring it. The addition of these high potential hard-rock spodumene areas from Minas Gerais is timely and strategic for us and substantially enhances our portfolio.”
Brazil Minerals is starting studies on these new areas immediately. Demand is evident as representatives from companies based in Australia, Bolivia, China and Russia have recently visited the Minas Gerais lithium districts in search of opportunities.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (BMIX) 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 stand-alone mines, royalty payments or equity holdings. The first equity holdings from such strategy are a 47% ownership in Jupiter Gold Corporation (JUPGF), a publicly-listed company focused on gold, platinum, and palladium. More information on Brazil Minerals is at www.brazil-minerals.com. More information on Jupiter Gold is at www.jupitergoldcorp.com.
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 Brazil Minerals’ (and its subsidiaries’) properties and projects, as of now, are exploratory and do not have measured “reserves” as such term is defined by the Securities and Exchange Commission.