- BBX Minerals (BBX) records significant platinum values in diamond drilling at its Três Estados project in Brazil, using its in-house method of assaying
- The latest results come from drill hole TED 001 completed at the Tabocal prospect as part of the company’s 2021 31-hole drilling campaign
- The platinum values were noted in the upper portion of the drill hole, followed by a deeper high grade multi-element intersection
- While the company’s CEO Andre Douchane says the initial results are exciting, there are around 80 holes yet to be analysed
- Shares have been trading 44.4 per cent higher at 19.5 cents at 12:23 pm AEST
BBX Minerals (BBX) has recorded significant platinum values in diamond drilling at its Três Estados project, using its in-house method of assaying.
The gold project is located southeast of Apui in the Brazilian state of Amazonas.
The latest results come from drill hole TED 001 completed at the Tabocal prospect as part of the company’s 2021 drilling campaign, which comprised a total of 31 holes across the project.
The platinum values were noted in the upper portion of the drill hole, mainly below the base of weathering, followed by a deeper high grade multi-element intersection within unweathered, weakly altered gabbro.
This is the second hole to be analysed using BBX’s in-house method of analysing platinum group metals and gold mineralisation, with the method finalised last week following initial analysis of Hole TED 015 which is located at the Adelar prospect, 3.5 kilometres from TED 001.
Specifically, BBX said the method comprises a nickel smelt at 1,500 degrees, producing a nickel bead which is subsequently digested in hydrochloride acid, the residue is dissolved in 4 acids and the solution is then fire assayed by conventional lead collection.
At TED 015, BBX noted gold, platinum, palladium, and rhodium mineralisation.
While CEO Andre Douchane said the initial results are exciting, there are around 80 holes still to be analysed.
“There will be many more assays in the coming days — almost exclusively from Três Estados,” he said.
“The team continues to see mostly platinum group elements with minor amounts of gold in the ongoing assays; however, it’s early days and we have a lot of work yet to do.
“Additionally, the team has good indications that the mineralised zones also contain silver which it will begin to assay for in due time.”
The company revealed that its technical team chose the Três Estados prospect as having the best area to quickly develop a JORC resource on, and Mr Douchane said analysis of the next 20 or more drill holes will determine this assumption.
Today’s announcement follows a string of delays over the past years, in particular with laboratory partners, and COVID-19.
Following the latest news, the company’s share price rose 44.4 per cent to trade at 19.5 cents at 12:28 pm AEST.