Brazil Minerals, Inc. Adds Lithium Project Area to Its Mineral Bank
PASADENA, Calif., Jan. 31, 2018 (GLOBE NEWSWIRE) -- via OTC PR WIRE-- Brazil Minerals Inc. (OTC:BMIX) (the "Company" or "Brazil Minerals") announced today that it has added a premier mineral right for lithium to its mineral bank. This 288-acre claim is within a new and large province that could place Brazil within the top five world producers of lithium. Demand for lithium is rapidly increasing in connection with its use in batteries for electric vehicles and smart phones.
A recent study by CPRM ("Companhia de Pesquisa de Recursos Minerais"), the Brazilian geological survey, revealed new lithium mineralization with high potential for economic exploitation in an area of the Jequitinhonha Valley in northeast Minas Gerais state. This location is roughly 200 miles from the diamond, gold, and sand properties that Brazil Minerals owns along the same river valley. The CPRM study was carried out between 2012 and 2017 and funded by the Brazilian government as part of its interest in incentivizing discovery and development of resources in strategic minerals, such as lithium. The identified lithium deposits are associated with pegmatite formations, a photograph of which is attached.
With this discovery, Brazil is expected to increase its lithium reserves by 20 times. Today, the country has 0.4% of the world's reserves, which would then grow to account for 8%, becoming the fifth country in the ranking of reserves. Other South American countries, Argentina, Chile and Bolivia, together, make up about 70% of the world's known lithium reserves, estimated at more than 13 million tons.
Brazil Minerals has access to a deep local talent of geologists, mining engineers and other local experts with trained eyes for seeking out opportunities and filtering projects. The Company has been carefully adding to its mineral bank of high quality properties; the table below shows a breakdown of current mineral rights and related acreage. It regularly evaluates and prioritizes its research effort on properties and utilizes its own equipment for drilling.
BMIX Mineral Bank:
Diamond (kimberlites): 92,961 acres
Diamond (alluvial): 27,612 acres
Gold: 105,370 acres
Sand: 4,995 acres
Manganese: 4,970 acres
Lithium: 288 acres
About Brazil Minerals, Inc.
Brazil Minerals Inc. (OTC:BMIX), through various consolidated subsidiaries has title to mining concessions for gold and diamonds, and a mineral bank with rights for multiple minerals, including lithium and manganese. One of BMIX's subsidiaries is Jupiter Gold Corporation. More information on BMIX 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/2c763fe4-5500-427d-a3fd-aa502c9bcc40
Contact:
Marc Fogassa
CEO, Brazil Minerals Inc.
(213) 590-2500
info@brazil-minerals.com
www.brazil-minerals.com
@BMIXstock