• BBX Minerals (BBX) strikes significant near surface platinum, iridium, and rhodium mineralisation at the Três Estados project in Brazil
• The company received assay results for two diamond holes from its 2020-2021 drilling program where holes were assayed for gold, platinum, palladium, iridium and rhodium
• BBX says it’s been working towards a JORC mineral resource estimate, with the potential for further drilling to come
• BBX Minerals is up 6.67 per cent with shares trading at eight cents at 1:49 pm AEST

BBX Minerals (BBX) has struck significant near surface platinum, iridium, and rhodium mineralisation at the Três Estados project in Brazil.

The company received assay results for two diamond drill holes from its 2020-2021 drilling program where holes were assayed for gold, platinum, palladium, iridium and rhodium.

The first hole returned significant iridium and platinum results in the upper portion of the holes, returning grades including two metres at 2.56 grams per tonne (g/t) platinum group metals (PGM) from 87 metres.

The second hole showed consistent coincident platinum and rhodium results in the weathered portion of the hole. Assays included two metres at 2.94 g/t platinum group metals, with 2.77 g/t platinum and 0.17 g/t rhodium, from two metres.

The new results follow Wednesday’s announcement, where the company received results for several drill holes from its 2017 and 2020/2021 programs at Três Estados.

The results showed continuous platinum mineralisation from surface, as well as intervals of iridium and rhodium.

“What we are seeing is a large extension of high-grade PGMs from surface that extends over a 3.5-kilometre strike,” CEO Andre Douchane said.

“The company is hard at work, moving towards a JORC over coming months, with potentially further drilling to come, looking to expand on the mineralised zone.”

BBX Minerals was up 6.67 per cent with shares trading at eight cents at 1:49 pm AEST.