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Brazil Minerals concludes first phase of geological assessment in Minas Gerais
The drilling revealed commercially-viable gravel containing diamonds and gold
By: Diamond World News Service
May 28 2015 5:39PM
Reference: 11522  

Brazil Minerals, Inc. announced that its senior geologist, J. Francescatto, and his team have successfully concluded the first phase of geological assessment in a dry area for diamonds and gold, near a margin of the Jequitinhonha River in the State of Minas Gerais in Brazil. In total, six holes were drilled, each spaced by 50 meters, and with an average depth of 12.6 meters. The distance between the two outermost holes was 250 meters. All six holes showed presence of varying depths of commercially-viable gravel containing diamonds and gold.

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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