Brazil Minerals, Inc. (The "Company" or "Brazil Minerals") announced today that its main site alluvial diamond and gold mining operation has started recovery of raw diamonds and fine gold.
The concentrations obtained in processing of diamondiferous and auriferous gravel at the nearby recovery plant are increasing as sequentially lower levels of such alluvial material are reached. Attached to this release is a recent photograph of the main excavation site. All equipment used in this operation belongs to the Company (or its subsidiaries) and therefore production costs are relatively low.
The successful implementation to date of this initial site has permitted the Company to proceed on two important developments. The first is the ongoing work on an expansion of the licensing of the current site to adjacent highly-attractive areas identified on selected drilling. The second is the multi-factorial evaluation of all of the Company’s similar areas in the Jequitinhonha Valley (over 27,000 acres for diamond and gold among multiple mineral rights) to identify where to locate a second mining operation.