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PASADENA, Calif., Aug. 21, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that its alluvial diamond and gold project mining operations are progressing well and within its plans for production in the third quarter of 2019. This project is in the Jequitinhonha River Valley of the state of Minas Gerais, Brazil, and in a district known for retrieval of diamonds and gold for over two centuries. Brazil Minerals, through subsidiaries, has title to over 27,000 acres of mineral rights for diamonds and gold in this region.
In the current mining site, excavation has reached a depth of approximately 25 feet. Between 35 to 50 feet in depth the desired auriferous and diamondiferous gravel layer appears, followed by bedrock at about 60 feet. Attached to this release are a photograph of this active site and a photograph of Marc Fogassa, CEO of the Company, and Areli Nogueira, its Senior Geological Engineer, during a recent visit.
The Company also announced that it had completed a few additional drilling holes prior to excavation in areas just adjacent to the current target site. In one of these areas, the auriferous and diamondiferous gravel layer was found to be over 20 feet in thickness, which is highly attractive, and provided valuable indication as to future direction for project expansion.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) 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 holding from such strategy is in Jupiter Gold Corporation (OTC: JUPGF). 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 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.
Photos accompanying this announcement are available at: