PASADENA, Calif., Nov. 11, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that the first run of the production of diamonds from its current mining site was better than expected. Diamondiferous gravel was extracted, transported, and processed through a nearby first-stage recovery plant. The resulting high-probability partially-processed ore was then further separated by granulometric characteristics into “small”, “medium”, and “large size” material, each of which needs to be further processed for final recovery of rough diamonds. The attached photograph shows two of the rough diamonds recovered from the first complete run of the “small size” material.
The operating team at Brazil Minerals was pleasantly surprised as these initially-recovered diamonds were on average bigger than those retrieved under similar methodology from other mining areas in the same district, and their concentration was higher as well.
As previously disclosed, in prior areas mined by Brazil Minerals in the same Jequitinhonha River Valley mining district, over 95% of the produced rough diamonds were gems suited for jewelry use. The Company had several rough diamonds polished, certified, and graded at the Gemological Institute of America (“GIA”) in the U.S., which is considered a premier analytical laboratory for gems. Their highest color grade was “E”, the second-best color (note: the scale starts at “D”). Their best clarity was “VVS1”, the second-best clarity. The majority graded F-G for color and VVS2-VS2 for clarity, and weighed between 0.4 and 2.0 carats. The Rapaport valuation of such Brazil Minerals’ GIA-graded diamonds was $3,250 per carat.
The Company will further process “medium size” and “large size” partially-processed ore in the next several days. Careful analysis of these results is important because the recovery steps are adaptable to the granulometric characteristics of the rough diamonds seen. The goal is to maximize the yield on diamond recovery prior to processing stockpiled ore. Below is a photograph of part of the diamond recovery facilities and members of our technical team.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX) has a business model focused on: 1) mining specific areas for diamonds and gold, and 2) advancing projects from its portfolio of high-quality mineral rights for transactions leading to royalties and/or equity positions, such as its stake in Jupiter Gold Corporation (OTC: JUPGF). Brazil Minerals, Inc. has projects in lithium (17,000+ acres), rare earths (12,000+ acres), titanium, nickel, iron, and placer diamonds and gold. 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.
Contact:
Marc Fogassa
CEO, Brazil Minerals, Inc.
(833) 661-7900
info@brazil-minerals.com
www.brazil-minerals.com
@BMIXstock
Photos accompanying this announcement are available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/2090f8e6-79b9-4472-9561-9f85f50ded2b
https://www.globenewswire.com/NewsRoom/AttachmentNg/f6b364ca-79e5-424d-bf0e-0f6010c13690