BELO HORIZONTE, Brazil, Dec. 02, 2019 (GLOBE NEWSWIRE) -- via OTC PR WIRE -- Jupiter Gold Corporation (OTC: JUPGF) (“Jupiter Gold” or the “Company”) announced today that the results of the geochemical sampling conducted in two shafts (70 ft. and 60 ft. deep, spaced 60 ft.) in its Alpha Project included a 16.2 g/t gold intersect within a 5.0 g/t gold zone over 4 meters. In terms of detection, 36 out of the 37 samples returned positive for gold. The analytical test used was fire assay (FAA505) performed by SGS-Geosol, a premier laboratory used by major mining companies in Brazil.
Jupiter Gold’s Alpha Project encompasses 28,167 acres east of Belo Horizonte, just outside of the Iron Quadrangle, a district known for both iron and gold mining. As described in a prior release, Jupiter Gold is in the process of revalidating Alpha Project’s 64,000 ounces of gold mineralization, as reported by a prior owner in detailed technical studies filed with the Brazilian mining authorities after extensive trenching and drilling.
Mr. Areli Nogueira, the Company’s senior geologist, commented, “Our initial geochemical studies, as reported today, were better than expected. Gold appears to be disseminated in a wide layer of saprolite, which may be easier to mine. Furthermore, it is likely that gold will also be identifiable in deeper rock, which would expand the total mineralization.”
Given these positive results, Jupiter Gold plans to advance on further studies that may lead to a technical report (NI 43-101 or equivalent format) for this property. In parallel, the Company has started the planning of the regulatory studies needed for an initial gold production license.
Jupiter Gold Corporation (OTC: JUPGF) owns 100% title to seven gold projects in development and exploratory stages aggregating 125,000 acres in Brazil. Its Alpha Project has a reported 64,000 ounces of gold mineralization from prior studies which the Company is in the process of revalidating. Brazil Minerals, Inc. (OTC: BMIX) owns 39% of the outstanding shares of Jupiter Gold. More information on Jupiter Gold is available at www.jupitergoldcorp.com. Follow it on Twitter: @JupiterGoldCorp
Safe Harbor Statement
This press release contains forward-looking statements made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward looking statements are based upon the current plans, estimates and projections of Jupiter Gold Corporation's management and are subject to risks and uncertainties, which could cause actual results to differ from the forward- looking statements. Such statements include, among others, those concerning market and industry segment growth and demand and acceptance of new and existing products; any projections of production, reserves, sales, earnings, revenue, margins or other financial items; any statements of the plans, strategies and objectives of management for future operations; any statements regarding future economic conditions or performance; uncertainties related to conducting business in Brazil, as well as all assumptions, expectations, predictions, intentions or beliefs about future events. Therefore, you should not place undue reliance on these forward-looking statements. The following factors, among others, could cause actual results to differ from those set forth in the forward-looking statements: business conditions in Brazil, general economic conditions, geopolitical events and regulatory changes, availability of capital, Jupiter Gold Corporation’s ability to maintain its competitive position and dependence on key management. This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction. We advise U.S. investors that its projects, as of now, do not have measured “reserves” as such term is specifically defined by the Securities and Exchange Commission.