The company's Juma East project is located in Brazil, and while greenfields, the area has historically had thousands of artisanal miners, highlighting known gold in the area.
BBX has today revealed a fire assay result of 4.58g/t gold over 13.66 metres from hole JED-004.
This is the same interval that had previously produced only trace gold via fire assay.
Jeff McKenzie, CEO for BBX, commented:
"This is a huge step forward in our endeavours to develop a consistent analytical technique for this style of mineralisation where we have now proved the significant presence of gold in the system via amalgamation and fire assay.
"We have made a lot of progress in only a short period of time though work is continuing in an effort to optimise our techniques.
"We are excited about the size, scale and potential of the Juma East property and these results are a reward for the systematic approach and hard work of our group."
Background to the assays
BBX said that following a pre-treatment step involving intense oxidation, fire assay of the pulverised unassayed sample splits (sample pulps) from this interval returned a value of 4.58g/t gold.
The sample was subjected to pre-treatment at the Nomos laboratory in Rio de Janeiro and subsequently fire-assayed at the Intertek laboratory in Parauapebas, Para state.
This interval had previously yielded a total precious metal grade of 4.76g/t (4.06g/ gold) from amalgamation tests, but only very low gold values from conventional fire assay analysis.
BBX regards this result as a major milestone in developing a routine analytical method that can be used at Juma East and fine-tuning of the method is continuing, focusing on measuring both gold and PGM levels.
Systematic amalgamation tests are currently being conducted on the most prospective portions of holes JED-006 and JED-001.
This will provide additional news flow over the coming weeks.
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