BRAZIL MINERALS BEGINS DRILLING IRON PROJECT IN TOP MINING DISTRICT
April 20, 2021 at 09:42 AM EDT
BELO HORIZONTE, BRAZIL, April 20, 2021 – OTC PR WIRE – Brazil Minerals, Inc. (OTC Pink: BMIX) (the “Company” or “Brazil Minerals”), the Strategic Mineral Resources Company for the Green Energy Revolution, is pleased to announce that its iron-focused 60%-owned subsidiary has begun drilling in the subsidiary’s wholly-owned project located in the well-known Iron Quadrangle area of the state of Minas Gerais in Brazil, one of the world’s most prolific areas for iron mining. Samples collected in this mineral property have shown iron concentrations up to 68%, a strong result according to the technical experts involved in the development of this mine. Photos from the site including the initial cores from the first hole are attached to this release.
Marc Fogassa, CEO of the Company, commented, “Brazil exports US$20 billion of iron ore annually. Iron has reached multi-year high prices recently and demand continues unabated. From what is observed from other local miners, a well-defined, simple open pit operation with quality extractable material can be highly profitable.”
This mineral property has preliminary indications of iron mineralization between 7 to 12 million tons. The current drilling campaign is expected to last two to three months and will determine the shape and depth of the open pit for operational licensing.
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC Pink: BMIX) is focused on essential and strategic minerals for the Green Energy Revolution with 100%-owned projects in hard-rock lithium, rare earths and titanium. Additionally, Brazil Minerals has interests in iron through a 60% equity ownership of Apollo Resources Corporation and in gold through a 30% equity ownership of Jupiter Gold Corporation (OTCQB: JUPGF). 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.
Brian W. Bernier
VP, Corporate Development and Investor Relations