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  • BBX Minerals (BBX) identifies significant REEs through initial reconnaissance auger drilling conducted across its newly acquired leases in the Apui region of Brazil
  • The company’s Apui REE project covers more than 50,000 hectares, prospective for REEs, which travel from the surface to the end of the hole
  • Some key results include 12 metres at 714 ppm TREO from surface and nine metres at 815 ppm TREO from surface
  • These discoveries could potentially define a world-class REE deposit, but BBX is keeping a closer eye on its EMA project where higher grade intercepts occur
  • BBX shares are up 2.86 per cent, trading at 3.6 cents at 11:41 am AEST

BBX Minerals (BBX) has identified significant rare earth elements (REEs) through initial reconnaissance auger drilling conducted across its newly acquired leases in the Apui region of Brazil.

The company’s Apui REE project encompasses an area exceeding 50,000 hectares (500 square kilometres), which shows promise for REEs. These areas have been thoroughly mapped from the surface down to the end of the drill holes.

Significant results included 12 metres of 606 parts per million (ppm) total rare earth oxides (TREO) from surface, 12 metres at 714 ppm TREO from the surface and nine metres at 815 ppm TREO from surface, including four metres at 930 ppm TREO from five metres.

BBX reported these findings to illustrate the consistent presence of REEs in the regolith, notably with enrichment in heavy rare earth oxides (HREO), aligning with the characteristics of typical ionic REE (iREE) deposits.

The auger holes were spread more than one kilometre apart to accurately test the full potential of the new acreage, with radiometric targets covering an area of 92.39 square kilometres, accounting for 39 per cent of the total radiometric signature discovered.

BBX believes that the wider separation of these initial exploration holes indicates the possibility of yet unattained higher TREO grades.

Furthermore, the company announced that when combining the auger results with soil sampling outcomes from the start of August and the identification of a distinct radiometric ternary signature, there exists the potential for the identification of a world-class REE deposit in Brazil.

BBX CEO Andre J Douchane highlighted that these new discoveries are significant for the company. However, he emphasized that the geological team’s primary focus remains on BBX’s Ema discovery, where higher-grade intercepts have been observed.

“BBX has allocated nearly 90 per cent of its assets toward developing a JORC resource at Ema – hopefully by the first quarter 2024,” he said.

“Work also continues on the PGM bioleaching process where pilot plant testing has progressed much faster than we thought, we expect to publish a full report in the next several weeks.”

BBX shares were up 2.86 per cent, trading at 3.6 cents at 11:41 am AEST.

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