U.S. battery metals company, Brazil Minerals, Inc., (OTCMKTS:BMIX) is actively involved in developing a 100%-owned lithium project in a world-class pegmatitic district in Brazil. It fully owns sizeable exploration projects in nickel/cobalt, rare earths, titanium, and graphite. The company also has equity stakes in a private company advancing its first iron mine – Apollo Resources Corporation, and a publicly listed company developing a quartzite mine and advancing two gold projects – Jupiter Gold Corporation.
Trading Data
On Monday, BMIX stock moved up 11.86% to $0.0165 with more than 21.82 million shares, compared to its average volume of 9.36 million shares. The stock moved within a range of $0.0149 – 0.0170 after opening trading at $0.0149.
Brazil Minerals Acquires Right to Large Lithium Area
Brazil Minerals, Inc. has made an announcement about signing a contract that has an exclusive option to acquire a large high-potential lithium mineral concession from local owners, which spans 389 hectares, 961 acres.
The area is located in the Bananal Valley in the municipality of Salinas and within the Araçuaí Hard Rock Lithium District in northeastern Minas Gerais, Brazil. This mineral right includes a huge pegmatitic outcrop measuring approximately 30 meters (98 feet) in diameter and 8 meters (26 feet) in height, which is several times larger than the average size of regular outcropping pegmatites.
The pegmatite seems to be a continuation of the locally well-known Lavra do Oscar (Oscar’s mine), which is a historical spodumene site. Some of the best lithium areas are situated near older artisanal sites that used to be explored for quartz and semi-precious stones. The company wants to immediately conduct the work required to define targets for a first pass drill testing campaign in this area. It 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.
SLR Consulting Ltd., a premier independent company, is finalizing an initial geotechnical report on this area undergoing the drilling campaign. The SLR report will also contain information on two other high-potential areas nearby, one of which is scheduled to begin a drilling campaign next month.
Apart from 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, and 22,050 acres (89 km2) for titanium, and 14,507 acres (59 km2) for graphite. The company is touted to have one of the largest exploration footprints for battery metals among publicly listed companies.
Brazil Minerals Doubles the Size of Its Nickel Exploration Footprint
Back in May of this year, the company had 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. That is exactly how Brazil Minerals’ nickel mineral rights holdings have more than doubled to 57,900 acres, as stated above.
Technical Data
BMIX stock is trading above the 20-Day and 50-Day Moving averages of $0.0115 and $0.0083 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0081.
