BBX Minerals (ASX:BBX) encounters precious metal mineralisation at Três Estados, Brazil

• BBX Minerals (BBX) encounters precious metal mineralisation at its Três Estados project in Brazil
• The company today revealed results for a reverse circulation drill hole first drilled during a 2017 program, where assays were conducted for gold, platinum, palladium, iridium and rhodium
• The company says it encountered precious metal mineralisation within both the weathered and unweathered portion of the hole
• Despite the release of the results, BBX CEO André Douchane says this week has been slow for drill holes as the company focuses on completing assays for “important” related projects
• BBX Minerals is down 12.9 per cent and trading at 14.5 cents at 12:55 pm AEST

BBX Minerals (BBX) has encountered precious metal mineralisation at its Três Estados project in Amazonas State, Brazil.

The company received assay results for a reverse circulation drill hole first drilled during a 2017 program, where assays were conducted for gold, platinum, palladium, iridium and rhodium.

BBX encountered precious metal mineralisation within both the weathered and unweathered portion of the hole

Results from the drilling included two metres at 0.3 grams per tonne (g/t) palladium, 0.64 g/t platinum, 0.37 g/t iridium and 0.08 g/t rhodium from six metres.

BBX’s Chief Executive Officer, André Douchane, said the company was pleased to see continuity in the analysed holes.

“If this continues, we should be able to begin working on a JORC resource in another nine or ten holes,” the Mr Douchane said.

The CEO explained this week had been slow for drill holes as the company focused on completing assays for important related projects.

“This created a bit of an interruption because of installing an electrical line and a gas line to the area where the new Atomic Adsorption Spectrometer (AA) is to be installed,” he said.

“This new AA is crucial to BBX’s assaying efforts. It will be fully dedicated to BBX, whereas the currently installed equipment is shared by the other companies that utilize the lab.”

BBX Minerals was down 12.9 per cent and trading at 14 cents at 12:55 pm AEST.