Whatever happened too this? Back in JAN of this year.. Never heard anything else about it since?
BRAZIL MINERALS, INC. ADDS LITHIUM PROJECT AREA TO ITS MINERAL BANK
Pasadena, CA -- January 31, 2018 -- InvestorsHub NewsWire -- Brazil Minerals, Inc. (OTC: BMIX) (the "Company" or "Brazil Minerals") announced today that it has added a premier mineral right for lithium to its mineral bank. This 288-acre claim is within a new and large province that could place Brazil within the top five world producers of lithium. Demand for lithium is rapidly increasing in connection with its use in batteries for electric vehicles and smart phones.
A recent study by CPRM ("Companhia de Pesquisa de Recursos Minerais"), the Brazilian geological survey, revealed new lithium mineralization with high potential for economic exploitation in an area of the Jequitinhonha Valley in northeast Minas Gerais state. This location is roughly 200 miles from the diamond, gold, and sand properties that Brazil Minerals owns along the same river valley. The CPRM study was carried out between 2012 and 2017 and funded by the Brazilian government as part of its interest in incentivizing discovery and development of resources in strategic minerals, such as lithium. The identified lithium deposits are associated with pegmatite formations, a photograph of which is attached.
With this discovery, Brazil is expected to increase its lithium reserves by 20 times. Today, the country has 0.4% of the world's reserves, which would then grow to account for 8%, becoming the fifth country in the ranking of reserves. Other South American countries, Argentina, Chile and Bolivia, together, make up about 70% of the world's known lithium reserves, estimated at more than 13 million tons.
Brazil Minerals has access to a deep local talent of geologists, mining engineers and other local experts with trained eyes for seeking out opportunities and filtering projects. The Company has been carefully adding to its mineral bank of high quality properties; the table below shows a breakdown of current mineral rights and related acreage. It regularly evaluates and prioritizes its research effort on properties and utilizes its own equipment for drilling.
BMIX Mineral Bank:
Diamond (kimberlites): 92,961 acres
Diamond (alluvial): 27,612 acres
Gold: 105,370 acres
Sand: 4,995 acres
Manganese: 4,970 acres
Lithium: 288 acres
About Brazil Minerals, Inc.
Brazil Minerals, Inc. (OTC: BMIX), through various consolidated subsidiaries has title to mining concessions for gold and diamonds, and a mineral bank with rights for multiple minerals, including lithium and manganese. One of BMIX's subsidiaries is Jupiter Gold Corporation. More information on BMIX is at www.brazil-minerals.com. Follow us on Twitter: @BMIXstock.
