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- BBX Minerals (ASX:BBX) confirms fresh drill intercepts of REE mineralisation at the company’s Ema project in Brazil
- The company’s headline result detailed a five-metre intersection with an equivalent grading of 850ppm TREO
- This was followed by 17 metres at 648ppm TREO, 11 metres at 627ppm TREO, and 10 metres at 869ppm TREO, the latter including a five-metre pocket at 1009 ppm TREO
- So far, BBX has only drilled approximately 32 square kilometres of its entire 189 square kilometre project
- Shares last traded at 2.5 cents
BBX Minerals (ASX:BBX) has confirmed fresh drill intercepts of rare earth element (REE) mineralisation at the company’s Ema project in the Apui region of Brazil.
The company carried out auger drilling atop key targets near existing confirmed REE targets, hitting near surface mineralisation.
BBX’s headline result detailed a five-metre intersection with an equivalent grading of 850 parts per million (ppm) total rare earth oxides (TREO).
This was followed by 17 metres at 648 ppm TREO, 11 metres at 627 ppm TREO, and 10 metres at 869 ppm TREO, the latter including a five-metre pocket at 1009 ppm TREO.
While grades will need improvement to attract investor interest, the presence of near-surface mineralisation bodes well for the company, as well as for potential scenarios where a larger mineral system may be underground.
So far, the company has only drilled approximately 32 square kilometres of its entire 189 square kilometre project.
All in all, 123 auger holes were drilled during the latest phase of exploration. Of the 11 holes drilled, eight returned positive REE assay results.
“The EMA REE discovery continues to show good consistency and better grades at depth,” BBX CEO Andre J. Douchane said.
“Due to the large amount of REE exploration in Brazil SGS is now experiencing an 8-week back up so if BBX is to produce a JORC Resource by the end of March 2024, then holes drilled after the end of November will not get in the initial resource estimate.”
Two separate laboratories, CETEM, the Brazilian “national lab,” and “The Catalao Lab,” are both conducting metallurgical tests with BBX’s REE ore extracted from Ema, and results from both entities are expected soon.
Earlier this month, the company reported on a previous test that yielded “exceptional” REE recoveries for high-value magnet rare earths neodymium and praseodymium.
BBX is also positioning itself as an ESG-focused REE explorer.
The company intends to use a “bioleaching” process in its downstream operations, utilising microbial agents to separate target minerals from ore instead of heavy chemicals.
BBX shares last traded at 2.5 cents.
