Location: State of Minas Gerais
Area: 2,385 acres
- The Diamantina Project area borders the meridional portion of the mountain range known as “Serra do Espinhaço”. This formation has a great extension of metamorphic-sedimentary rocks, specially quartzites and meta-sandstones, reason why such area stands out for its significant production of ornamental rocks made of quartzites.
- In Q3 2020, Jupiter Gold concluded an initial phase of geological studies at Diamantina including the completion of a geological survey in the permit area. The initial phase was based on geological mapping, sample gathering and previous rock deposit volume calculation using specific modelling software.
- The Diamantina Project shows eastern deposits with white quartzite which is highly sought after. According to a consultant with deep technical expertise, who has visited 60-70 producing quartzite mines in his career, the potential of such white quartzite is large. The estimated sale price of a cubic meter is expected to be between US$1,300 and US$2,000, with relatively low costs for open-sky extraction, thus potentially yielding a reasonably high margin of profit.
- The Company continues its exploratory research in this project and advancement to a mining operation.
Location in Brazil
Map of Mineral Right #1
Map of Mineral Right #2