PASADENA, CA–(July 20, 2020) – Brazil Minerals, Inc. (OTC: BMIX) (the “Company” or “Brazil Minerals”) is pleased to announce that it has advanced its Iron Project (described in a prior release) with receipt of an independent technical report on the opportunity prepared by an independent geological consulting firm. This firm’s team spent several days in the project area, and collected multiple samples. The report estimates that the Project area contains 7.4 million tons of iron for a deposit spanning up to a depth of 45 meters.
Additionally, Brazil Minerals has begun a collaboration effort with a university laboratory with expertise in iron concentration and separation processes. The Company is intent on quickly identifying the most cost-effective route for processing for the specific iron mineral found in this project, a key step for operational planning purposes. Currently available data indicates the potential for an operation with annual net profits of up to US$1 million and a mine life between 10 and 20 years. A photograph of one of the formations from the Iron Project is attached below.