The company noted that as per the geologist, there is continuity of this type of gravel layer within the entirety of the line drilled. In relative terms, this researched area is small compared to the total surface area of this mineral right, which measures 5.3 million square meters or 1,310 acres.
Also, the company is researching to determine ideal locations for future mining pits. Using its own drilling equipment and with its own field team, the company is positive of reducing ts costs. Also, it owns or controls 11 mining concessions and 17 other mineral rights, all in Brazil. Although the primary objective of this effort is to find locations with the highest quality of diamondiferous gravel, gold essentially always occurs together with diamonds in these deposits. The relative concentrations between diamonds and gold vary widely depending on local geological characteristics.
Brazil Minerals’ current mineral rights are for alluvial mining of diamonds. The best alluvial mines in Brazil are located in the State of Minas Gerais, where the company has its current mineral rights for diamonds. The Jequitinhonha River borders many of its mineral rights, and is well known for its high quality, sought-after colorless gems. Other rivers in Minas Gerais produce a combination of color and colorless gems. Historically, 97 percent of diamonds retrieved by BMIX in its properties are gem-type diamonds, and only 3 percent are industrial-type diamonds.
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