Mr. Luis Azevedo reports
BRAVO INTERCEPTS SHALLOW PGMS AND MAGMATIC NI SULPHIDES AT LUANGA
Bravo Mining Corp. has received assay results from a further 19 infill diamond drill holes (DDH) from its 100-per-cent-owned Luanga palladium plus platinum plus rhodium plus gold plus nickel project, located in the Carajas mineral province, state of Para, Brazil.
Highlights
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71.4 metres at 1.94 grams per tonne platinum group metals plus gold from surface; 39.0 m at 2.34 g/t PGM plus Au, 0.26 per cent nickel; 9.0 m at 4.02 g/t PGM plus Au, 0.10 per cent Ni and 3.0 m at 13.09 g/t PGM plus Au.
"Recent assay results from infill drilling at Luanga continue to consistently enhance our understanding of the historical data. In the southwest sector, DDH22LU116 intersected the thickest known interval of continuous PGM plus Au mineralization (in that sector),"
said Luis Azevedo, chairman and chief executive officer of Bravo. "Further trenching is planned in the southwest sector to determine whether there is an increase in grade and thickness at surface, similar to what we observed in trenching the central sector. Meanwhile, results from drilling of the central sector continue to show mineralization dominated by a single thick zone, with higher-than-expected nickel concentrations as drilling continues to advance at depth. We look forward to further testing the potential for mineralization at depth with the phase 2 drill program, and in particular the commencement of the HeliTEM survey at the end of this month, designed to cover the whole area of the Luanga project."
Highlights include:
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DDH22LU116 intersected
the thickest known interval of continuous mineralization to date in the southwest sector, and where mineralization was previously interpreted to narrow.
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Drilling continues to intercept magmatic nickel sulphides at depth, especially in the central sector where results from Bravo's drilling outperform historical shallower drilling results.
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Assay results continue to compare well with intercepts in historic drilling on nearby drill sections, both in tenor and mineralized thickness, and to previously reported results from Bravo drilling on the same drill sections.
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The phase 2 drilling program commenced in the central sector, systematically targeting extensions to Luanga mineralization at depth.
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HeliTEM (airborne electromagnetics (EM)) over the whole area of the Luanga project is scheduled to begin at the end of May.
PGM +
From To Thickness Pd Pt Rh Au Au Ni* Cu
Hole ID (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t) (%) (%) Type
DDH22LU112 158.3 182.0 23.7 1.29 0.74 0.10 0.03 2.16 0.15 0.02 FR
DDH22LU116 0.0 71.4 71.4 1.19 0.55 0.05 0.14 1.94 NA - Ox/FR
Including 0.0 18.9 18.9 2.29 0.95 0.10 0.30 3.64 NA - Ox
Including 39.6 60.5 21.0 1.18 0.62 0.06 0.16 2.02 0.22 - FR
DDH22LU118 81.1 114.2 33.1 0.45 0.85 0.02 0.00 1.32 0.02 0.01 FR
DDH22LU126 121.0 124.0 3.0 5.83 6.00 1.16 0.09 13.09 0.01 - FR
DDH23LU134 140.2 163.2 23.0 1.10 0.59 0.06 0.15 1.90 0.14 - FR
DDH23LU135 191.1 230.1 39.0 1.70 0.54 0.09 0.02 2.34 0.26 - FR
DDH23LU136 207.1 228.9 21.8 1.18 0.41 0.06 0.10 1.75 0.18 - FR
DDH23LU137 37.1 46.1 9.0 2.64 1.15 0.19 0.03 4.02 0.10 - FR
DDH23LU138 139.9 153.9 14.0 0.91 0.47 0.05 0.21 1.64 0.13 - FR
Notes: All from, to depths and thicknesses are downhole. NA -- not applicable for oxide material.
-- not assayed. Given the orientation of the hole and the mineralization, the intercepts are
estimated to 105 per cent to 120 per cent of true thickness. Type: ox is oxide, LS is low sulphur,
FR is fresh rock. Recovery methods and results will differ based on the type of mineralization.
* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike
historic total nickel assays.
Luanga drilling assay results update
A total of 178 drill holes (43 in 2023) have been completed by Bravo to date, for 32,799 metres, including all eight planned twin holes and all eight metallurgical holes (not subject to routine assaying).
Results have been reported for 138 Bravo drill holes to date, which includes all drilling completed in 2022. Excluding the metallurgical holes, results for
32 Bravo drill holes are currently outstanding.
Drill results received from all three sectors at Luanga continue to compare well with intercepts in historic drilling on nearby drill sections and/or results from Bravo and historical drilling on the same drill sections.
The central sector continues to show mineralization dominated by one thick zone, with consistent thicknesses on section. Phase 2 drilling, which commenced in the central sector in April, 2023, is systematically targeting the extension of existing PGM plus Au plus Ni mineralization to a greater depth.
Elevated nickel values also continue to be a feature of the central sector, compared with historical results and in comparison with the north and southwest sectors, on a broad scale. This may be related to a significantly thicker basal (footwall) harzburgite (ultramafic) sequence, which is also coincident with a more prolific nickel-in-soil geochemical footprint.
Drilling in the southwest sector also shows consistency with assay results both for PGMs and magmatic nickel sulphides, comparing well with intercepts in historic drilling on neighbouring drill sections and with drilling by Bravo on the same section.
Phase 2 program
The phase 2 program commenced in April, 2023, with 21,500 metres of drilling planned, focused on extensional drilling to depth (below the known mineralization) and exploration of new targets.
Surface geophysical programs, microgravity and detailed ground magnetics remain in progress at Luanga, while HeliTEM (airborne EM) covering the entire Luanga project is scheduled to begin at the end of May.
COMPLETE TABLE OF RECENT INTERCEPTS
PGM +
From To Thickness Pd Pt Rh Au Au Ni* Cu
Hole ID (m) (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t) (%) (%) Type
DDH22LU102 68.5 71.5 3.0 1.19 0.48 0.00 0.25 1.92 0.10 0.19 FR
And 108.4 111.4 3.0 0.72 0.32 0.01 0.02 1.07 0.21 0.04 FR
And 165.4 182.4 17.0 0.63 0.31 0.05 0.01 1.00 0.10 0.02 FR
And 184.4 190.4 6.0 0.73 0.33 0.04 0.00 1.11 0.11 0.02 FR
And 224.3 232.3 8.0 0.32 0.12 0.01 0.02 0.48 0.10 0.06 FR
And 235.3 244.3 9.0 0.60 0.36 0.05 0.08 1.09 0.16 0.02 FR
DDH22LU112 123.9 131.9 8.0 0.48 0.31 0.00 0.12 0.91 0.09 0.02 FR
And 133.9 142.9 9.0 0.76 0.49 0.00 0.27 1.53 0.15 0.04 FR
And 158.3 182.0 23.7 1.29 0.74 0.10 0.03 2.16 0.15 0.02 FR
DDH22LU116 0.0 71.4 71.4 1.19 0.55 0.05 0.14 1.94 NA - Ox/FR
Including 0.0 18.9 18.9 2.29 0.95 0.10 0.30 3.64 NA - Ox
Including 39.6 60.5 21.0 1.18 0.62 0.06 0.16 2.02 0.22 - FR
DDH22LU117 153.0 161.0 8.0 0.56 0.25 0.05 0.01 0.86 0.07 0.01 FR
And 178.2 180.3 2.1 0.50 0.31 0.08 0.01 0.90 0.01 0.01 FR
DDH22LU118 0.0 8.0 8.0 0.34 1.03 0.02 0.02 1.41 NA NA Ox
And 72.9 77.1 4.3 0.23 0.83 0.00 0.00 1.06 0.02 0.01 FR
And 81.1 114.2 33.1 0.45 0.85 0.02 0.00 1.32 0.02 0.01 FR
DDH22LU120 72.3 75.3 3.0 0.48 0.25 0.00 0.05 0.78 0.04 0.03 FR
And 106.3 110.3 4.0 0.61 0.15 0.02 0.02 0.80 0.15 0.03 FR
DDH22LU124 0.0 5.1 5.1 0.69 0.98 0.03 0.27 1.96 NA NA Ox
And 43.2 46.8 3.6 3.84 0.24 0.13 0.01 4.23 0.27 0.03 FR
And 100.8 103.8 3.0 1.45 0.88 0.33 0.02 2.68 0.04 0.02 FR
And 125.8 136.8 11.0 1.09 0.75 0.12 0.01 1.97 0.05 0.01 FR
DDH22LU126 6.0 18.4 12.4 0.22 0.35 0.03 0.00 0.60 NA - Ox
And 28.9 37.4 8.5 0.22 0.35 0.01 0.00 0.58 NA - Ox/FR
And 121.0 124.0 3.0 5.83 6.00 1.16 0.09 13.09 0.01 - FR
DDH22LU127 105.7 108.8 3.1 0.51 0.21 0.00 0.01 0.73 0.19 0.04 FR
And 133.9 138.9 5.0 0.41 0.10 0.01 0.01 0.53 0.02 0.01 FR
DDH22LU129 45.1 49.1 4.0 0.04 0.01 0.00 0.01 0.05 0.20 - FR
And 97.8 98.8 1.0 0.69 0.83 0.00 0.03 1.55 0.05 - FR
And 111.8 112.8 1.0 1.32 0.43 0.00 0.15 1.91 0.26 - FR
DDH23LU130 80.9 88.9 8.1 0.31 0.11 0.02 0.02 0.46 0.09 - FR
And 98.9 104.9 6.0 0.28 0.26 0.00 0.05 0.59 0.01 - FR
And 112.9 129.9 17.0 0.83 0.28 0.03 0.01 1.16 0.14 - FR
DDH23LU131 123.7 127.3 3.6 0.41 0.15 0.01 0.03 0.60 0.32 - FR
And 129.3 150.7 21.4 0.15 0.20 0.00 0.01 0.36 0.02 - FR
DDH23LU132 80.9 84.9 4.0 1.07 0.98 0.03 0.04 2.13 0.02 - FR
And 112.9 127.9 15.0 0.75 0.25 0.04 0.04 1.06 0.18 - FR
DDH23LU133 55.0 58.0 3.0 0.16 0.08 0.00 0.03 0.28 0.22 - FR
And 73.0 78.0 5.0 0.06 0.03 0.01 0.00 0.10 0.20 - FR
And 98.0 104.0 6.0 0.17 0.05 0.04 0.03 0.29 0.27 - FR
And 143.5 153.5 10.1 0.73 0.37 0.02 0.15 1.27 0.09 - FR
DDH23LU134 74.1 79.1 5.0 0.37 0.15 0.00 0.03 0.55 0.18 - FR
And 140.2 163.2 23.0 1.10 0.59 0.06 0.15 1.90 0.14 - FR
DDH23LU135 191.1 230.1 39.0 1.70 0.54 0.09 0.02 2.34 0.26 - FR
DDH23LU136 103.7 106.7 3.0 1.07 0.38 0.00 0.24 1.70 0.27 - FR
And 131.7 135.2 3.5 0.26 0.11 0.05 0.01 0.42 0.24 - FR
And 147.4 154.0 6.6 0.82 0.30 0.01 0.19 1.31 0.21 - FR
And 189.0 198.1 9.1 0.55 0.20 0.03 0.08 0.86 0.21 - FR
And 207.1 228.9 21.8 1.18 0.41 0.06 0.10 1.75 0.18 - FR
And 263.6 300.3 36.7 0.21 0.21 0.00 0.01 0.43 0.02 - FR
DDH23LU137 0.0 4.8 4.8 1.11 0.58 0.05 0.05 1.79 0.01 - Ox
And 37.1 46.1 9.0 2.64 1.15 0.19 0.03 4.02 0.10 - FR
DDH23LU138 139.9 153.9 14.0 0.91 0.47 0.05 0.21 1.64 0.13 - FR
Notes: All from, to depths and thicknesses are downhole. NA -- not applicable for oxide material. -- not assayed.
Given the orientation of the hole and the mineralization, the intercepts are estimated to 105 per cent to
120 per cent of true thickness. Type: ox is oxide, LS is low sulphur, FR is fresh rock. Recovery methods
and results will differ based on the type of mineralization.
* Bravo's nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic
total nickel assays.
About Bravo Mining Corp.
Bravo is a Canada and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM plus Au plus Ni project in the world-class Carajas mineral province of Brazil.
The Luanga project benefits from being in a location close to operating mines, with excellent access and proximity to existing infrastructure, including road, rail, and clean and renewable hydro grid power. The project area was previously deforested for agricultural grazing land. Bravo's current environmental, social and governance activities include replanting trees in the project area, hiring and contracting locally, and ensuring protection of the environment during its exploration activities.
Technical disclosure
Technical information in this news release has been reviewed and approved by Simon Mottram, FAusIMM (fellow Australia Institute of Mining and Metallurgy), president of Bravo Mining who serves as the company's qualified person as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects. Mr. Mottram has verified the technical data and opinions contained in this news release.
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