PASADENA, Calif., May 14, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (BMIX) (the "Company" or "Brazil Minerals") announced today that it is in advanced planning for a gold and diamond open-sky operation in the Jequitinhonha River Valley. Last week, the Company finished three of a total of six drill holes for the purpose of demarcating the precise boundaries of the initial mining pit. In this mineral right, as previously announced, a drilling campaign showed gold in all 35 drill holes, as well as markers for diamonds in a majority of them. Since this mineral right has a total surface area of 1,310 acres and given its high-quality results to date, it offers the potential to be mined as open pit, over a substantial period of time.
In parallel with the above, a Brazil Minerals’ geologist is evaluating where a second gold and diamond operation could be placed among the Company’s many other mineral rights in the Jequitinhonha River Valley, which together have more than 25,000 acres of surface area. Several of these rights are already at the mining concession stage, the highest titled category in Brazil. Currently, there appears to be seven potential new mine sites each within a different mineral right owned by the Company.
The Company believes that it is making good progress towards its goal for its Jequitinhonha River Valley assets which is to obtain a steady cash flow stream through profitable mining of gold and diamonds at each site. Such mining will be low-cost, open-sky, year-round using smaller plants based on centrifugation since the gold is found in fine powder format within gravel/alluvium.
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 transactions leading to royalties and/or equity positions. The first equity holdings from such strategy is a 49% ownership in Jupiter Gold Corporation (JUPGF). More information on Brazil Minerals is at www.brazil-minerals.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.