- BBX Minerals (BBX) finalises its assay method, reporting “significant” precious metal values from a diamond drill hole at the Três Estados project in Brazil
- The company has been working to “fine-tune” its way of detecting results for both gold and platinum group metals in a single assay method
- Gold, platinum, palladium, and rhodium mineralisation was seen in the hole which represents the first hole to be successfully analysed by the in-house procedure developed for this complex type of mineralisation
- The company’s technical team is satisfied with the method developed and will accelerate the amount of assays processed in the coming weeks
- Shares are trading 19.1 per cent higher today at 12.5 cents each at 12:30 pm AEST
BBX Minerals (BBX) has finalised its assay method, reporting “significant” precious metal values from a diamond drill hole at the Três Estados project in Brazil.
The company has been working to “fine-tune” its methods, aiming to detect results for both gold and platinum group metals (PGMs) in a single assay method.
Hole TED 015 was selected as it covers a range of geological characteristics of interest and showed PGM values throughout the hole, but mostly below a zone of intense weathering.
Gold, platinum, palladium, and rhodium mineralisation was seen, representing the first hole to be successfully analysed by the procedure developed in-house for this complex type of mineralisation.
The company’s technical team is satisfied with the method developed and will accelerate the amount of assays processed in the coming weeks.
However, it will continue to conduct investigative work into the assay method to improve the process.
Meanwhile, metallurgical pilot plant test work is continuing to develop a commercially viable extraction technique.
CEO Andrew Douchane said he is excited to see the consistent release of further assays from other drill holes.
“These initial drill hole results indicate that the deposit has the characteristics of a platinum group metal deposit with gold, rather than a gold deposit,” he said.
“Since the deposit appears to contain considerable amounts of iridium and rhodium, assaying for these metals became necessary, and took much longer to perfect than BBX initially anticipated.”
Shares were trading 19.1 per cent higher today at 12.5 cents each at 12:30 pm AEST.