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.
Santa Maria de Itabira
The Santa Maria de Itabira license, dated 203, is for an area of 643.74 hectares with at least two known pegmatite dikes exposed in underground workings.
Gem quality beryl minerals are reported from adjacent properties.
The Santa Maria de Itabira pegmatites have been explored up to 100 metres horizontally and 30 metres vertically in tunnels and an underground shaft.
A total of approximately 400 metres in five of seven tunnels have been mapped.
Beryl production of some 410 kilograms from these dikes is reported but not confirmed with no current production.
Access to the Santa Maria de Itabira license is good, 50 kilometres from Itabira and only 15 kilometres from Santa Maria de Itabira.
Coronel Murta
The Coronel Murta license area of 342.65 hectares is undeveloped and is dated 2006.
Gem production is common in the region, topaz, tourmaline and morganite (pink beryl)
A large pegmatite body currently being exploited to the south of the license projects across the Jequitinonha river onto the Coronel Murta license.
That operation is stockpiling feldspar for the ceramic industry, lepidolite for possible sale to Lithium Corporation and is seeking morganite.
Beryl crystals are visible in the tunnel walls.
Access to the license is difficult. A primitive road extends approximately 20 kilometres from Coronel Murta city to the eastern part of the license area.
