Belo Horizonte, Brazil--(Newsfile Corp. - September 13, 2021) - Brazil Minerals, Inc. (OTCQB: BMIX) (the "Company" or "Brazil Minerals"), the Strategic Mineral Resources Company for the Green Energy Revolution, is pleased to announce that it has made strong advances in its lithium and iron projects during the last several weeks.
The Company's geology field team has intersected a wide layer of spodumene, the primary lithium-bearing mineral, in one of its hard-rock lithium project areas; two photos from some of the recently retrieved material are attached to this release. Work is ongoing towards obtaining the data needed for the first technical report with an estimate of lithium resources. The information gained from these studies will dictate how to best develop and commercialize the identified resources and the most beneficial way to proceed on conversations with potential customers and partners.
Retrieved Materials from the Hard-Rock Lithium Project Areas
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Separately, Brazil Minerals, through its iron-focused subsidiary, is expecting to soon receive the technical report on its first iron project from the independent geology firm responsible for the drilling campaign. Preliminary indications point to 12 million tons of iron ore resources, and work is ongoing towards planning for an initial iron mine. The Company's iron subsidiary has two additional, separate high potential iron areas within the well-known Iron Quadrangle mining district.
Additionally, Brazil Minerals' Jupiter Gold subsidiary has concluded the required geological and environmental studies and is expecting the last needed permit to begin operations of its first quartzite mine. It has already obtained the initial commercial licensing from the mining department.
Marc Fogassa, CEO of the Company, commented, "We are delighted by some of the recent results obtained. It is an exciting time as we are clearly progressing towards our goal of unlocking value from our vast mineral rights portfolio and in due time becoming a profitable multi-mineral producer."
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTCQB: BMIX) is a lithium company with projects in other highly strategic minerals such as rare earths, titanium, nickel, and cobalt. In addition, Brazil Minerals owns a majority stake in a private company developing its first iron mine, and a minority stake in Jupiter Gold Corporation, which is developing two large gold projects and a quartzite mine. 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
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/96280