Diamond-rich zone discovered in Brazil
Brazil Minerals, (BMIX) announced its extensive drilling campaign in one of its several mineral rights in the Jequitinhonha River Valley in northern Minas Gerais state in Brazil yielded alluvial material with a high likelihood for diamonds in over 57% of the drill holes executed, according to members of the Company’s technical team with expertise in alluvial diamond exploration.
Marc Fogassa, CEO of the Brazil Minerals, stated, “Our identification of an initial diamond-rich zone within a gold mineralization area is a very good outcome. It is relevant to note that this particular mineral right has 1,310 acres and this drilling campaign covered only a small portion of such area.”
Brazil Minerals drilled 35 holes spaced 30 to 50 meters apart utilizing a Banka 4-inch percussion rotary drill. As reported by the Company, all drill holes were positive for fine gold. Further analysis of the campaign’s results and inspection of collected samples indicate that there is a diamond-rich zone in the area as well.
Satellite markers for diamonds, such as limonite, rutilite and tourmalinite, among others, were observed in all samples recovered within this diamond-rich zone. The Jequitinhonha River Valley where this mineral right is located has been a well-known source of gem-quality alluvial diamonds for over two centuries.
