A program of re-assaying previous drill core from BBX Minerals’ (ASX: BBX) Três Estados project in Brazil has revealed more platinum, iridium and rhodium mineralisation – this time a the Adelar target.

Drill core from holes completed in a 2017 reverse circulation program was re-evaluated using BBX’s proprietary process.

Holes TERC 009 and TERC 010 both returned numerous mineralised intervals.

Highlight intervals in TERC 009 were 4m at 1.30 grams per tonne five element (5E) platinum group metals (PGM) from 24m; 5m at 1.34g/t 5E PGM from 40m, including 1m at 3.04g/t 5E PGM.

Mineralisation also remained open at depth.

In TERC 010, best intervals were 2m at 4.74g/t 5E PGM from 18; 2m at 1.62g/t 5E PGM from 24m; and 2m at 0.9g/t 5E PGM from 30m.

Across both holes peak value for each mineral were 3.65g/t platinum, 0.89g/t iridium, and 0.2g/t rhodium.

BBX noted these results further extend known mineralisation west of the Adelar target.

Today’s assays follow results from holes TERC 001 and TERC 008, which were also drilled west of the Adelar target.

Late week, BBX revealed TERC 001 had intercepted 10m at 1.19g/t 5E PGM from surface, including 2m at 2.28g/t 5E PGM from surface; and 4m at 1.15g/t 5E PGM from 14m.

Hole TERC 008 uncovered 2m at 0.9g/t 5E PGM from 14m.

Assaying Três Estados mineralisation

The company has begun a full-scale assaying campaign of 82-holes from drilling completed in 2017 and 2021.

BBX describes Três Estados ore as unique and complex and to ensure the drill core is adequately evaluated it has developed its own proprietary analysis and extraction methods.

As part of this, BBX has established a dedicated laboratory in Goiás analyse the drill core for both gold and PGM in one process.

The laboratory was commissioned in November last year and a new AA (Atomic Adsorption Spectrometer) was recently installed, which is dedicated to Três Estados ore.

BBX is also conducting metallurgic pilot plant test work to come up with a commercially viable flow sheet for the mineralisation.

Três Estados project

Três Estados is located in Amazonia near the town of Apuí.

BBX says the Amazon is “vasty underexplored” and has “high potential” for a world class discovery including gold and other precious metals.