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Jupiter Gold Discovers Substantial Quartzite Deposits
September 21, 2020 6:00 AM EDT | Source: Jupiter Gold Corporation
Belo Horizonte, Brazil--(Newsfile Corp. - September 21, 2020) - Jupiter Gold Corporation (OTCQB: JUPGF) ("Jupiter Gold" or the "Company") announced that it has identified white and light grey quartzite deposits in one of its 100%-owned mineral rights in southeast Brazil. Preliminary calculations indicate a potential aggregate of 3.7 million tons of quartzite, a mineral which is widely used for countertops and tiles; Brazil is a leading producer and exporter. Current prices for the type of quartzite identified range from $1,200 to $2,000 per ton when sold at the quarry. Because of the possibility of potential cash flow with a relatively simple quarry, Jupiter Gold has been investigating this opportunity with a mining engineer with substantial expertise in both quartzite mining and its commercialization.
A photograph from an aerial survey of a part of Jupiter Gold's project area is found below; the contours drawn in the picture indicate the four areas with most quartzite outcroppings.
Figure 1
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Photographs of a retrieved quartzite sample and of an outcropping in Jupiter Gold's mineral right are found below.
Figure 2
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Figure 3
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The Company plans focused field studies and, if results continue to be positive, to expeditiously enter with the necessary permitting for an open surface mining operation.
About Us
Jupiter Gold Corporation (OTCQB: JUPGF) has 100% ownership in several gold projects in development and exploration in Brazil. In particular, Jupiter Gold owns 100% of both the Alpha Gold Project, with over 22,000 acres of mineral rights for gold in the state of Minas Gerais, and the Alta Floresta Gold Project, with over 24,000 acres of mineral rights for gold in the state of Mato Grosso. More information on Jupiter Gold is available at www.jupitergoldcorp.com.
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.
Contact:
Brian W. Bernier
Head of Investor Relations and Corporate Development
Jupiter Gold Corporation
(833) 661-7900
www.jupitergoldcorp.com
ir@jupitergoldcorp.com
@JupiterGoldCorp
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/64232