The Market Online - At The Bell

Join our daily newsletter At The Bell to receive exclusive market insights

  • BBX Minerals (ASX:BBX) makes a new discovery at its Apuí ENE REE project in Brazil
  • In hole APTR-013, BBX yielded exceptional values, reaching up to 2757 ppm TREO, including 594 ppm Nd Pr oxides
  • Standout results included 12 meters at 1380 ppm TREO from surface, with an even more impressive five meters at 1942 ppm TREO from seven meters down
  • BBX plans to deploy two of the Ema drills to Apuí for step-out drilling from APTR-013
  • BBX last traded at 2.8 cents

BBX Minerals (ASX:BBX) has announced a new discovery at its Apuí ENE rare earth element (REE) project in Brazil.

The company reported initial total rare earth oxide (TREO) assay results for regional reconnaissance auger drilling carried out over 25 kilometres NE of the three new leases near Apuí in Brazil.

In hole APTR-013, BBX yielded exceptional values, reaching up to 2757 parts per million (ppm) TREO, including 594 ppm Nd Pr oxides.

The standout results included 12 meters at 1380 ppm TREO from surface, with an even more impressive five meters at 1942 ppm TREO from seven meters down.

Other significant findings included three meters at 1130 ppm TREO in APTR-014 and four meters at 908 ppm TREO in APTR-018.

“APTR 013 is not only a very exciting discovery hole it’s also quite amazing because of what it contains,” BBX CEO Andre J Douchane said.

“Obviously, the rare earth assays are high (1942ppm over five metres); however, the hole also contains slightly over seven per cent K2O (potash) from metre eight to 12 and between one per cent and 2.5 per cent TiO2 over the entire hole.”

In light of the wet season approaching in mid-December, BBX has made the decision to temporarily suspend drilling activities at Apuí ENE and Ema.

Looking ahead, BBX plans to deploy two of the Ema drills to Apuí for step-out drilling from APTR-013, with potential resource calculations covering up to 30 square kilometres at Ema.

The company aims to conduct 20 to 25 additional holes near APTR-013, with the last of the assays expected by mid-February, potentially influencing a JORC resource estimate.

BBX last traded at 2.8 cents.

BBX by the numbers
More From The Market Online

Weekly Wrap-up: The Headlines That Matter

A list of headlines and economic data that moved markets this week – and what's next.
The Market Online Video

Market Close: ASX200 wraps up the week on a high

The ASX200 closed up nearly half a per cent. Most sectors finished in the green.
The Market Online Video

Webinar: Australia’s Uranium Awakening: Investing in a Glowing Future

Uranium's regained serious value after an extended price depression that resulted from plentiful supplies coupled with…