Ann: Additional Pyrometallurgical Extraction Results, page-3

20 tonnes per month pilot plant! That'll help pay the bills.

ADDITIONAL PYROMETALLURGICAL GOLD EXTRACTION ACHIEVES 41 g/t AT TRÊS ESTADOS

Highlights:
 Additional pyrometallurgical tests conducted on the Três Estados bulk sample using minor variations on the original method significantly increased the extraction of gold from the sample to 41g/t Au
 BBX has appointed Marcelo da Silva Pinto M.E. refinery to conduct pilot plant testing on up to 20 tonnes per month on a revenue-sharing basis
 Drilling targets finalised at Ema and Tres Estados
 Process initiated to obtain trial mining licences at Três Estados and Ema

Brazilian gold explorer, BBX Minerals (ASX: BBX or “the Company”) is pleased to announce further exceptional results of preliminary metallurgical testing from the Company’s Três Estados Project.

Following highly encouraging initial results, the Company has advanced its pyrometallurgical extraction process at the Marcelo da Silva Pinto M.E. facility on the Tres Estados bulk sample to further improve metal recoveries, including recovery of platinum and palladium.

Three additional tests were conducted, yielding gold and silver-rich buttons (see Figure 1) which were dissolved and analysed by AAS, yielding gold results of 8.32g/t Au, 25.00g/t Au and 41.40g/t Au, back calculated to original sample weight, compared with pyrometallurgical results of 4.70g/t Au and 1.53g/t Au announced on 1 June 2017. The second and third tests incorporated a pre-oxidation step prior to smelting, previously not utilised. Due to the target of enhancing gold recovery, minor adjustments in the extraction method resulted in lower silver values in tests 1 and 3 than those announced on 1 June 2017 (see Table 1).

Commenting on the significance of the results, BBX CEO Jeff McKenzie said: “We are delighted by the opportunity to commence pyrometallurgical pilot plant testing which will not only enable BBX to further test, refine and upscale this extraction process but also has the potential to generate a modest cash flow for the Company.”

Contract signed for pilot plant testing of up to 20 tonnes per month
BBX has signed a contract with Marcelo da Silva Pinto M.E. to conduct pilot plant testing on up to 20 tonnes per month on a revenue sharing basis. This pilot plant testing will commence immediately the Company is satisfied with the treatment process. This enables the Company to develop a better understanding of issues related to scaling up production based on the pyrometallurgical technique, in parallel with ongoing development work on the alternative hydrometallurgical process at the e-Reciclar and CETEC facilities in Belo Horizonte and at Nomos in Rio de Janeiro. Additional results have yet to be received from this testwork. BBX does not currently have access to pilot-scale testing facilities for the hydrometallurgical process where work is continuing at a laboratory scale.

A 150kg surface bulk sample of fresh gabbro, identical in appearance to the Três Estados gabbro has been collected from the Ema prospect from an area of 100m x 40m (see Figure 3). Hydrometallurgical and pyrometallurgical testwork is planned to commence on this sample during the coming week.

The locations of both the Três Estados and Ema bulk samples were arbitrarily chosen on the basis of the extent of outcropping fresh gabbro within the extensive areas of mapped gabbroic intrusive.