web analytics
13.3 C
Munich
Sunday, September 25, 2022

Brazil Minerals, Inc. (OTCQB: BMIX) Breaking Out from a Penny as Co Acquires Lithium Mineral Rights Totaling 3,811.23 Hectares & Applies to Uplist

Brazil Minerals, Inc. (OTCQB: BMIX) is heating up after the Company announced it has acquired four lithium mineral rights totaling 3,811.23 hectares (~ 9,418 acres) owned by a group of six persons, all unrelated to the Company. In particular, Brazil Minerals acquired one mineral right which is immediately north and two mineral rights which are immediately south of one of its premier claims, the Neves Area (“Neves”), part of the Company’s 100%-owned Minas Gerais Lithium Project. Brazil Minerals is currently drilling on Neves and has identified multiple hard rock pegmatites with attractive lithium concentrations; several of such pegmatitic ore bodies continue to the north and south into the newly acquired mineral rights. These claims expand the Neves project area footprint from 67.50 hectares (~ 167 acres) to 2,683.90 hectares (~ 6,632 acres) or almost 40 times its previous surface area This is a transformative acquisition for two main reasons: a) it creates the possibility of operationally developing Neves into a producing lithium mine of significant size, and b) the large additional area gives the Company the opportunity for increased lithium resources. 

BMIX recently saw a powerful move up from under half a penny to $0.0275 highs on heavy volume and interest from investors. Since a brief dip below a penny last week BMIX is once again on the rise in recent trading.  BMIX has a history of big moves running to $0.10 in early 2021. The Company continues to see significant progress; In August BMIX announced it has continued progress in its hard-rock lithium project located in the northern region of the state of Minas Gerais in Brazil. The Company’s project is overseen by two geologists who are “qualified persons” for lithium in the definition of Subpart 1300 of Regulation S-K (“S-K 1300”). The information in this release is an interim update on the resource delineation drilling program and related technical studies currently ongoing at the Neves Area, part of Brazil Minerals’ 100%-owned Minas Gerais Lithium Project which consists of 48 mineral rights spread over 190 km2 (46,659 acres). BMIX recently filed a S-1/A regarding the application to up list its shares to NASDAQ. BMIX Minas Gerais Lithium Project intersects the property of a large publicly traded lithium miner that has demonstrated through extensive drilling the presence of lithium deposits totaling over 20 million tons, according to its publicly available filings. The Company recently identified the existence of hard rock pegmatites with lithium mineralization and is currently waiting on a technical report from SLR International Corporation in late-June 2022. 

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Brazil Minerals, Inc. (OTCQB: BMIX) is a U.S. mineral exploration and mining company with projects and properties in essentially all battery metals to power the Green Energy Revolution – lithium, rare earths, graphite, nickel, cobalt, and titanium. The Company’s current focus is on developing its hard-rock lithium project located in a premier pegmatitic district in Brazil – as lithium is essential for batteries in electric vehicles. Additionally, through subsidiaries, BMIX participate in iron, gold, and quartzite projects. The Company also owns multiple mining concessions for gold, diamond, and industrial sand. 

The Company is led by CEO Marc Fogassa, a high-level executive with extensive experience in venture capital and public company chief executive management. He has served on boards of directors of multiple private companies in various industries, and is a regular speaker internationally. Mr. Fogassa graduated with two Bachelor of Science degrees from MIT and from Harvard Medical School with a Dr. of Medicine. Mr. Fogassa owns 2,877,789,671 shares of BMIX.  

Brazil Minerals is primarily focused on advancing and developing its hard-rock lithium project located in the state of Minas Gerais, Brazil, where some of the Company’s high-potential mineral rights are adjacent to or near large lithium deposits that belong to a large, publicly traded competitor which has demonstrated through extensive drilling the presence of lithium deposits totaling over 20 million tons, according to its publicly available filings. The Company’s Minas Gerais Lithium Project is its largest endeavor and consists of 44 mineral rights spread over 74, 531 acres and predominantly located within the Brazilian Eastern Pegmatitic Province which has been surveyed by the Brazilian Geological Survey and is known for the presence of hard rock formations known as pegmatites which contain lithium-bearing minerals such as spodumene and petalite. In general, lithium derived from pegmatites is less costly to purify for uses in high technology applications than lithium obtained from brine. Such applications include the battery supply chain for electric vehicles (“EVs”), an area of expected high growth for the next several decades. 

The Company’s exploratory work to date in some mineral rights in its Minas Gerais Lithium Project, including trenching and drilling with subsequent geochemical analysis of samples, has determined the existence of hard rock pegmatites with lithium mineralization. Given the proximity to areas of economically significant lithium deposits from the Competitor who has demonstrated through extensive drilling the presence of lithium deposits totaling over 20 million tons, according to its publicly available filings. BMIX technical experts believe that one or more areas of its Minas Gerais Lithium Project may also contain similar lithium deposits. 

BMIX owns 46.17% of the common shares of Apollo Resources Corporation, a private company currently primarily focused on the development of its initial iron mine, expected to start operations and revenues in early 2023. BMIX also own approximately 24.56% of Jupiter Gold Corporation a company focused on the development of gold projects and of a quartzite mine, and whose common shares are quoted on the OTCQB under the symbol “JUPGF”. The quartzite mine is expected to start operations and revenues in 2022. Currently JUPGF trades at $0.79. JUPGF quartzite mine is expected to start operations and revenues in 2022. 

Recently, BMIX obtained the presumptive exploratory permits for six additional nickel mineral rights encompassing 29,075 acres in the state of Goiás in Brazil. One of these rights is adjacent to a nickel producing mine and all are in a district known for lateritic nickel deposits. With such additions, Brazil Minerals’ nickel mineral rights holdings have more than doubled to 57,900 acres (234 km2). 

The Company also has a second collection of seven lithium mineral rights in the Northeastern part of Brazil comprising 16,266 acres (66 km2). In total, both lithium projects (Minas Gerais and Northeastern Brazil) comprise 62,925 acres (254 km2) of exploration claims. Besides lithium, Brazil Minerals’ portfolio of exploration properties for other battery metals includes 59,700 acres (234 km2) for nickel, 30,009 acres (121 km2) for rare earths, 22,050 acres (89 km2) for titanium, and 14,507 acres (59 km2) for graphite. The Company believes that it has one of the largest exploration footprints for battery metals among publicly listed companies. 

To Find out the inside Scoop on BMIX Subscribe to Microcapdaily.com Right Now by entering your Email in the box below

BMIX

In August the Company announced it has continued progress in its hard-rock lithium project located in the northern region of the state of Minas Gerais in Brazil. The Company’s project is overseen by two geologists who are “qualified persons” for lithium in the definition of Subpart 1300 of Regulation S-K (“S-K 1300”). The information in this release is an interim update on the resource delineation drilling program and related technical studies currently ongoing at the Neves Area, part of Brazil Minerals’ 100%-owned Minas Gerais Lithium Project which consists of 48 mineral rights spread over 190 km2 (46,659 acres). 

The Company has completed 15 drill holes for a total of approximately 1,170 meters (3,384 feet). The most recently completed hole, DHAB15, intercepted 27.9 meters (92 feet) of pegmatite containing crystalline and microcrystalline spodumene. The geological logging of drill hole DHAB15 is described in the Table below and the photographs of some of the core boxes are attached to this release. The Company is awaiting the geochemical assay results from DHAB15. Prior drill holes have confirmed the continuity of grade and thickness of lithium-bearing pegmatites in the Neves Area, including a peak grade of 3.23% Li2O obtained in a section of a drill hole located 23.0 meters (75 feet) from DHAB15. 

A technical report for the project is being prepared by SLR Consulting Ltd. an independent consulting firm that specializes in the mining industry. The technical report will include the results of the first drill holes completed on the Neves Area. Results from DHAB15 and other more recent drill holes will not be included in the upcoming first version of the technical report from SLR but will be added to the next version of the report. With the press release issued today, Brazil Minerals intends to begin providing periodic progress updates for its Minas Gerais Lithium Project as drilling and related technical studies continue to advance. 

On August 22 BMIX announced it has acquired four lithium mineral rights totaling 3,811.23 hectares (~ 9,418 acres) owned by a group of six persons, all unrelated to the Company. In particular, Brazil Minerals acquired one mineral right which is immediately north and two mineral rights which are immediately south of one of its premier claims, the Neves Area (“Neves”), part of the Company’s 100%-owned Minas Gerais Lithium Project. Brazil Minerals is currently drilling on Neves and has identified multiple hard rock pegmatites with attractive lithium concentrations; several of such pegmatitic ore bodies continue to the north and south into the newly acquired mineral rights. These claims expand the Neves project area footprint from 67.50 hectares (~ 167 acres) to 2,683.90 hectares (~ 6,632 acres) or almost 40 times its previous surface area (please see the attached map). This is a transformative acquisition for two main reasons: a) it creates the possibility of operationally developing Neves into a producing lithium mine of significant size, and b) the large additional area gives the Company the opportunity for increased lithium resources. 

Marc Fogassa, CEO of the Company, commented, “This highly significant transaction is the result of months of hard-fought negotiations as these lithium areas attracted interest from multiple companies. We were successful in large part for having developed a solid local reputation for quality execution in our exploration programs. The Neves expansion is strategically critical and immediately brings our overall Minas Gerais Lithium Project to the next level.” 

For More on BMIX Subscribe Right Now!

Currently trading at a $36 million market valuation BMIX has 3,385,151,300 shares outstanding of which 1,222,982,873 are restricted, leaving 2,187,513,979 free trading BMIX shares. The Company has $1.8 million in assets and under $1 million in debt. *Not including equity stakes in Apollo Resources, and Jupiter Gold Corporation (OTCQB: JUPGF) BMIX traded as high as $0.10 in early 2021 and recently reversed off $0.0039 lows after the seller that decimated the share price in recent months closed out their position. BMIX Minas Gerais Lithium Project intersects the property of a large publicly traded lithium miner that has demonstrated through extensive drilling the presence of lithium deposits totaling over 20 million tons, according to its publicly available filings. Besides lithium, Brazil Minerals’ portfolio of exploration properties for other battery metals includes 59,700 acres (234 km2) for nickel, 30,009 acres (121 km2) for rare earths, 22,050 acres (89 km2) for titanium, and 14,507 acres (59 km2) for graphite. The Company believes that it has one of the largest exploration footprints for battery metals among publicly listed companies. BMIX) is heating up after the Company announced it has acquired four lithium mineral rights totaling 3,811.23 hectares (~ 9,418 acres) owned by a group of six persons, all unrelated to the Company. In particular, Brazil Minerals acquired one mineral right which is immediately north and two mineral rights which are immediately south of one of its premier claims, the Neves Area (“Neves”), part of the Company’s 100%-owned Minas Gerais Lithium Project. Brazil Minerals is currently drilling on Neves and has identified multiple hard rock pegmatites with attractive lithium concentrations; several of such pegmatitic ore bodies continue to the north and south into the newly acquired mineral rights. These claims expand the Neves project area footprint from 67.50 hectares (~ 167 acres) to 2,683.90 hectares (~ 6,632 acres) or almost 40 times its previous surface area We will be updating on BMIX when more details emerge so make sure you are subscribed to Microcapdaily.

Subscribe to Our 100% Free Penny Stock Newsletter. We Have Something Big Coming!

Disclosure: we hold no position in BMIX either long or short and we have not been compensated for this article.

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest article

Sign up now for our 100% FREE Penny Stock Newsletter

Privacy Policy. we will never share your email with anyone.