BRAZIL MINERALS, INC. STRIKES GOLD IN THE PARACATU PROJECT
16 Maggio 2018 - 2:10PM
InvestorsHub NewsWire
BRAZIL
MINERALS, INC. STRIKES GOLD IN THE PARACATU
PROJECT
Pasadena, CA -- May 16,
2018 -- InvestorsHub NewsWire -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or
"Brazil Minerals") announced today that its subsidiary Jupiter Gold Corporation
(“Jupiter Gold”) is advancing the initial drilling campaign of its
Paracatu Project and already struck gold in multiple holes drilled.
Gold particles were
obtained and confirmed in pan concentrates in samples taken.
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).
This
planned campaign entails drilling a total of six holes
spaced 100 meters apart, with samples being collected at
one-meter intervals of depth, to be processed for
quantitative geochemical analysis at a premier analytical
laboratory.
Marc Fogassa, CEO of the Company, commented, “We’re extremely
pleased by these early results. Our multifactorial analysis had
predicted a high probability for gold in this mineral right, and
now drilling has confirmed it. It bodes well for the methodology of
our group with respect to adding high potential claims to our asset
base.”
The senior
geologist on the Paracatu Project is Rodrigo Mello, who has been
with Jupiter Gold since October 2016. Mr. Mello has worked for some
of the largest gold companies in the world such as Goldcorp,
AngloGold, and AngloAmerican. He has written 19 geological reports,
mostly on gold formations in Brazil. In a filing with the SEC,
Goldcorp Inc. (NYSE: GG), a large multinational
global mining company, referred to Mr. Mello as “the qualified
person responsible for the Mineral Reserve and Resource
estimates for the Amapari mine” (note: Amapari is a large gold mine
project in Brazil).
Photographs of
the Paracatu Project drilling campaign and material retrieved
follow:
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 Paracatu Project and 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
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