Brazil Minerals Inc. recently announced that it has completed the second phase of the company’s geological assessment and successfully paid in cash for its new ownership with RST Recursos Minerais Ltda.
With the finish of the second phase, the company has now made a complete geological assessment of the Jequitinhonha River valley, located within Brazil’s State of Minas Gerais, for both gold and diamonds.
The company used its Banka 4-inch drill to drill three holes on a straight line 100 meters apart. All of the holes proved that there was commercially-viable gravel with gold and diamonds present. The thickness of the gravel layer ranged from 1.20 to 4.50 meters. The bedrock in the area varies between 10.80 and 19.20 meters.
The first analysis suggests that there is a strong chance that the gravel layer continues throughout the sampled area. This area is relatively small compared the company’s mineral right of the region, which is 1,310 acres.
Brazil Minerals Inc., a U.S.-based, publicly traded company with Brazilian mining properties, drills for rough diamonds, sand and gold. The company owns 50 percent of RST Recursos Minerais Ltd as well as 100 percent of Mineracao Duas Barras.
More information is available to the public on Brazil Minerals’ main website.
