On May 14th, 2019, Brazil Minerals, Inc. has announced that it is doing advanced scheduling for a gold and diamond open-sky operation in the Jequitinhonha River Valley.
Last week, the company completed three out of six drill holes to establish the limits of exact boundaries of the initial mining pit. In this mineral right, as announced earlier, a drilling campaign showed gold in all 35 drill holes, in addition to markers for diamonds in a majority of them. Because this mineral right owns a total surface area of 1310 acres and used its high-quality results until now, it can be mined as open pit over a considerable time period.
In tandem with the above, a geologist from Brazil Minerals evaluates where a second diamond and gold operation could be placed among the company’s various other mineral rights in the Jequitinhonha River Valley, both having over 25,000 acres of surface area. Many of these rights are already at the mining concession level, the highest titled category in Brazil. At present, there seem to be seven potential new mine sites, each within a different mineral right possessed by the company.
The company hopes that it is advancing toward its goal for its Jequitinhonha River Valley assets, which is to acquire a steady cash flow stream through profitable mining of diamonds and gold at every site. On the basis of centrifugation, such mining will be low-cost, open-sky, year-round operation using smaller plants because the gold is found in fine powdered form within gravel or alluvium.