Aug 4 2015
Brazil Minerals, Inc. announced today that it has made all of the cash payments for its ownership position in RST Recursos Minerais Ltda. and that it had completed the second phase of geological assessment in a new dry locale for diamonds and gold in the valley of the Jequitinhonha River in the State of Minas Gerais in Brazil.
Diamondiferous and auriferous gravel
In total, three holes were drilled using the Company's Banka 4-inch drill, 100 meters apart and on a straight line. All holes showed presence of commercially-viable gravel containing diamonds and gold with the thickness of such layer varying between 1.20 and 4.50 meters. A photograph of such type of gravel accompanies this release. Bedrock was reached in depths varying from 10.80 to 19.20 meters. Initial analysis of the data obtained indicates a strong likelihood of continuity of the gravel layer along the area sampled. In relative terms, this researched locale was small compared to the total surface area of this mineral right, which measures 5.3 million square meters or 1,310 acres.
While the results described today are strong, the Company cannot make any assumptions about the extent to which similar results will be seen if drilling or mining is done in the remainder of this large mineral area.