Brazil Minerals Strikes Gold in the Paracatu Project

PASADENA, CA - Brazil Minerals, Inc. reported that its subsidiary, Jupiter Gold Corporation, is advancing the initial drilling campaign of its Paracatu Project in Brazil, and already struck gold in multiple holes drilled. Gold particles were obtained and confirmed in pan concentrates in samples taken. The target is an alluvial plain along the Rico Creek, which drains the giant Paracatu gold deposit known as “Morro do Ouro” (Gold Hill), an ore body of 16 million ounces owned by Kinross Gold Corporation.  This planned campaign entails drilling a total of six holes spaced 100 meters apart, with samples being collected at one-meter intervals of depth, to be processed for quantitative geochemical analysis at a premier analytical laboratory. 

Marc Fogassa, CEO of the Company, commented, “We’re extremely pleased by these early results. Our multifactorial analysis had predicted a high probability for gold in this mineral right, and now drilling has confirmed it. It bodes well for the methodology of our group with respect to adding high potential claims to our asset base.”

The senior geologist on the Paracatu Project is Rodrigo Britto Mello, who has been with Jupiter Gold since October 2016. Mr. Mello has worked for some of the largest gold companies in the world such as Goldcorp, AngloGold, and AngloAmerican. He has written 19 geological reports, mostly on gold formations in Brazil. In a filing with the SEC, Goldcorp Inc., a large multinational global mining company, referred to Mello as “the qualified person responsible for the Mineral Reserve and Resource estimates for the Amapari mine, also in Brazil” (note: Amapari is a large gold mine project in Brazil).