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Minas Gerais
The Properties are located in the Minas Gerais State, Brazil. One is located in the Santa Maria de Itabira municipal district and the other in the Coronel Murta municipal district as shown in the illustration that follows.
- Minas Gerais is a well mineralized region with a productive history of mineral production dating from the 16th century and includes the well known Caue gold mine of the Vale do Rio Doce Company (NYSE: RIO).
- Eastern Minas Gerais is the location of one of the world's largest gem bearing pegmatite provinces and beryl is a frequent component of pegmatites in the region.
- Historically, attention has been on the gem varieties of beryl, emerald, aquamarine, morganite as well as associated species, topaz, tourmaline and chrysoberyl.
- IB's properties comprise 996 hectares of research licenses which are for a period of three years and may be extended for an additional three years upon application and submittal of a report of activities. At the end of the extension, the license must be converted through an application for a mining license.
- Work permitted under a research license includes mapping, soil sampling, definition drilling and trenching. No production is permitted under the research license.
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