BBX Minerals has continued to reveal ‘significant’ PGM and gold at Três Estados

Brazil-focused mineral explorer and technology company BBX Minerals (ASX: BBX) has revealed “significant” platinum group metals in initial assays from RC and diamond drilling at its Três Estados project last year.

A second diamond hole at the project’s Tabocal prospect, intercepted 2m at 0.98 grams per tonne gold, 4.43g/t palladium and 10.82g/t platinum.

This followed assay results which were revealed a few days earlier for hole TED015 of the 2021 campaign, which hit numerous mineralised zones within the Adelar prospect.

Highlight intervals were 2m at 1.82g/t iridium, 1.55g/t platinum, 0.63g/t palladium and 0.18g/t gold from 30m; and 1m at 11.52g/t platinum, 0.41g/t gold and 0.12g/t rhodium.

From October 2020 and April 2021, BBX completed 31 diamond drill holes at Três Estados as part of a follow-up program that totalled 2,273.69m.

In addition to Tabocal and Adelar, drilling was also undertaken at the Central, Daniel and Capuaçu prospects.

Proprietary assay and processing methods

With the unique and complex-style of mineralisation at BBX’s Brazilian projects, the company has continued to develop its proprietary analysis and extraction techniques for the ore.

As part of this, BBX established a dedicated laboratory facility in Catalão in the state of Goiás, Brazil, which was commissioned in November last year.

Using the laboratory, BBX has fine-tuned its process in assaying for both gold and PGM in one method. Furthermore, this well-equipped laboratory will enable BBX to expedite its assaying programme and accelerate process development work.

Although BBX says the analytical process may benefit from additional fine-tuning, it is of a high enough quality for the company to undertaking full-scale assaying of its available drill core from Três Estados.

The assay throughput rate is expected to pick up pace in the coming weeks with additional equipment purchased and the laboratory team strengthened.

Meanwhile, metallurgical pilot plant test work is underway to generate a commercially viable extraction technique for Três Estados ore.

BBX chief executive officer Andre Douchane said the company looked forward to releasing assays of other holes “on a regular basis”.

Mr Douchane said the initial drill hole results indicate the deposit has the characteristics of a PGM deposit with gold rather than a pure gold orebody.

“Since the deposit appears to contain considerable amounts of iridium and rhodium, assaying for these metals became necessary and took longer to perfect than BBX initially anticipated.”

“Now, with the ability to assay various steps in a treatment process, BBX can press forward with determining an efficient processing method,” Mr Douchane added.

Reverse circulation assays

With a quality assay method established, BBX has completed evaluation of ore from the first four reverse circulation holes completed in 2017 at Três Estados.

Precious metals were encountered in all four holes, with notable results of 2m at 1.26g/t platinum, 0.46g/t iridium, and 0.03g/t rhodium from surface; 12m at 1.71g/t platinum and 0.03g/t rhodium from 38m and mineralisation remaining open; and 6m at 4.28g/t platinum from 12m, including 2m at 1.02g/t gold, 0.23g/t palladium, 9.38g/t platinum, 0.11g/t iridium and 0.06g/t rhodium.

Mr Douchane explained the company intended to assay the remaining 15 or so drill holes from the 2017 program in the order they were completed.

“The geological anomaly that the first five drill holes are in is quite large and I’m pleased to see continuity between the holes assayed to-date, especially TED 001 and TED 015 being about 3.5km apart at opposite ends of the anomaly.”

Mr Douchane said there were “many more holes” to assay and he is “excited” to see the results for all of them.

Brazilian focus

BBX is focused on advancing its Brazilian projects, which are located in Amazonia near the town of Apuí.

The company says the southern Amazon region is “vastly underexplored” with “high potential” for discovery of “world class” gold and other precious metals.

Três Estados is BBX’s flagship project, which will be assayed first. Additionally, BBX owns the Ema gold project also located in the Apuí region.

All up, BBX has 270.5 square kilometres of tenements in an environment prospective for gold, PGM and base metals.