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Bravo’s North Sector Emerges as Second Thick, High-Grade Centre of Gravity for the Luanga PGM+Au+Ni Deposit

Highlights include 69m at 3.8g/t PGM+Au including 5m at 25.4g/t PGM+Au, 45m at 5.0g/t PGM+Au, and 24.9m at 5.9g/t PGM+Au, 0.12% Ni

VANCOUVER, BC, July 29, 2024 /CNW/ – Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), (“Bravo” or the “Company“) has received assay results from fifteen diamond drill holes (“DDH”) from the North Sector at its 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit (“Luanga deposit” or “Luanga PGM+Au+Ni deposit“), located in the Carajás Mineral Province, state of Pará, Brazil.

“The numerous thick high-grade drill intercepts from the North Sector of the Luanga deposit has significantly enhanced the resource potential in this area, thus establishing a second centre of gravity for the Luanga deposit,” said Luis Azevedo, Chairman and CEO. “In the Luanga deposit mineral resource estimate (“MRE”. See press release October 22, 2023), the Central Sector was seen to host a large proportion of the mineral resources, largely due to the concentration of historical holes and Bravo drilling. In contrast, the North Sector had only seen limited drilling at the time of the MRE. However, Bravo’s recent drilling, has consistently intercepted thicker zones of higher-grade mineralization within 150m of surface, as illustrated by the sections in this press release.”

Highlights Include:

  • Drilling in the North Sector continues to show improvements in both grade and thickness compared to historic drilling in this sector.
  • Mineralization intersected to date (see Sections 1 and 2) lies within 150m of surface and is open to further extension at depth.
  • The North Sector at the Luanga deposit is now recognised as a second centre of gravity of multiple thick high grade mineralized zones.
  • The current round of BHEM (bore-hole electromagnetic) surveying is close to completion. Drilling has recommencing at T5, testing new conductors along strike defined by this work. This will be followed by drilling at new and re-evaluated HeliTEM targets.
HOLE-IDFromToThickness(m)PdPtRhAuPGM + AuNi* (%)SulphideTYPE
(m)(m)(g/t)(g/t)(g/t)(g/t)(g/t)
DDH24LU2453.0072.4069.401.631.820.230.083.77NAFR/LS
including9.2014.205.008.8114.991.620.0125.42NAFR/LS
Also including44.0572.4028.351.760.940.140.183.010.25FR
And115.00143.0028.001.581.280.190.043.100.02FR
DDH24LU2470.0031.0031.001.050.810.220.012.10NAOx
DDH24LU24845.4070.3024.902.313.270.270.035.880.12FR/LS
including45.4055.4010.004.487.360.580.0412.460.08FR/LS
DDH24LU249111.40157.4046.001.410.690.140.062.300.18FR
DDH24LU250111.50117.506.004.182.920.490.327.910.11FR
And124.50131.507.002.251.850.340.084.520.08FR
And66.8067.801.00156.45158.25>10.02.16326.850.06FR
DDH24LU2520.00152.30152.300.400.750.04<0.011.20NAOx/FR
DDH24LU25484.5092.508.002.761.280.240.194.470.15FR
And21.3564.7043.351.520.800.130.222.670.20FR
DDH24LU2580.0045.6045.602.481.850.340.345.01NAOx
DDH24LU2598.6010.602.0012.7642.154.792.5962.28NAOx
Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given orientation of drilling and mineralization, intercepts are estimated at 125% to 140% of true thickness in the North Sector.
Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphide. 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 historical total nickel assays.

Luanga Drilling Update

Results from fifteen diamond drill holes have been received from the North Sector of the Luanga PGM+Au+Ni deposit. All the drill holes reported herein are angled holes (-60 degrees), towards an azimuth of 090°. Together, this set of drill holes comprise a total of 3,212.45 metres of diamond drilling.

Section 1 (Figure 1) in the North Sector shows infill and step-out drilling, with DDH24LU249 being the deepest drill hole on the section, exhibiting a wide zone of mineralization, open at depth, within 150m from surface, and consistently increasing in grade from DDH22LU090 to DDH24LU247 to DDH22LU086 to DDH24LU249. Trenching (TR23LU024) in this area also demonstrates the significant volume of near surface oxide mineralization. These results continue to bode well for potential future MRE updates. In comparison, the Central Sector has been defined to depths of up to 400m below surface, more than twice the depth of current drilling in the North Sector. The addition of a second centre of gravity for the Luanga PGM+Au+Ni deposit has potential to enhance future project economics, as and when demonstrated, mineralization could potentially be extracted from shallower depths for longer periods.

Figure 1: North Sector (Section 1 on Figure 3). High-grade and thick mineralization near surface and continuing at depth. (CNW Group/Bravo Mining Corp.)
Figure 1: North Sector (Section 1 on Figure 3). High-grade and thick mineralization near surface and continuing at depth. (CNW Group/Bravo Mining Corp.)

Section 2 (Figure 2) is an infill section in the North Sector. Drilling also shows evidence of increasing thickness at depth, again with mineralization defined to date less than 150m from surface and still open at depth. As with Section 1 and in comparison, to the Central Sector, there is still significant potential to extend mineralization to depth while remaining potentially amenable to open pit exploitation, subject to future economic studies. Furthermore, Section 2 shows high volumes of mineralization in comparison to the volume of unmineralized material, demonstrating the potential for relatively low strip ratios in these areas.

Figure 2: North Sector (Section 2 on Figure 3). Wide zones of mineralization with low proportions of unmineralized material. (CNW Group/Bravo Mining Corp.)
Figure 2: North Sector (Section 2 on Figure 3). Wide zones of mineralization with low proportions of unmineralized material. (CNW Group/Bravo Mining Corp.)

HeliTEM (Helicopter borne EM) and Copper/Gold Exploration Update

Exploration is progressing on both BHEM targets and HeliTEM targets. The current round of BHEM surveying is close to completion. Drilling has recommencing at T5, testing new conductors defined along strike by this work. BHEM is currently in progress at T11. Following the new holes planned at T5, drilling will move to T11, followed by initial testing of new and re-evaluated HeliTEM targets.

Drill Results Status Update

A total of 311 drill holes have been completed by Bravo to date, for 66,366 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 267 Bravo drill holes to date. Assay results for 36 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).

Complete Table of Recent Intercepts.

HOLE-IDFromToThickness(m)PdPtRhAuPGM + AuNi* (%)SulphideCu (%)SulphideTYPE
(m)(m)(g/t)(g/t)(g/t)(g/t)(g/t)
DDH24LU243162.45169.457.000.220.730.04<0.010.990.01FR
DDH24LU2453.0072.4069.401.631.820.230.083.77NAFR/LS
including9.2014.205.008.8114.991.620.0125.42NAFR/LS
Also including44.0572.4028.351.760.940.140.183.010.25FR
And79.7089.409.700.650.550.090.121.410.09FR
And115.00143.0028.001.581.280.190.043.100.02FR
And150.00154.004.000.460.190.040.010.700.05FR
And182.00190.008.000.340.110.020.020.490.07FR
And197.00201.054.050.400.100.02<0.010.520.05FR
DDH24LU2470.0031.0031.001.050.810.220.012.10NAOx
And51.6593.5041.850.840.410.090.011.350.11FR
including60.6576.5015.851.150.550.120.011.840.13FR
And102.50115.5013.000.270.250.04<0.010.570.03FR
And119.50123.504.000.770.340.050.011.160.05FR
And151.50153.502.005.062.490.210.017.770.10FR
And162.50171.509.000.360.130.010.010.500.06FR
DDH24LU2480.003.913.910.790.440.080.011.32NAOx
And45.4070.3024.902.313.270.270.035.880.12FR/LS
including45.4055.4010.004.487.360.580.0412.460.08FR/LS
And75.9079.904.000.860.410.060.021.350.26FR
And96.15100.304.150.570.310.030.020.930.14FR
DDH24LU2490.006.806.800.300.320.060.010.69NAOx
And18.0026.008.000.270.770.22<0.011.27NAFR/LS
And33.9046.3512.450.510.770.040.011.330.01FR
And54.3560.356.000.510.300.060.010.880.06FR
And181.10187.106.000.250.510.07<0.010.830.01FR
And94.10102.007.900.360.820.110.021.300.02FR
And111.40157.4046.001.410.690.140.062.300.18FR
And173.90182.909.000.790.410.090.091.370.14FR
And241.00244.003.00<0.01<0.010.010.020.030.010.68FR
DDH24LU250111.50117.506.004.182.920.490.327.910.11FR
And124.50131.507.002.251.850.340.084.520.08FR
DDH24LU2510.003.303.300.360.300.070.010.74NAOx
And66.8067.801.00156.45158.25>10.02.16326.850.06FR
DDH24LU2520.00152.30152.300.400.750.04<0.011.20NAOx/FR
including0.0027.4527.450.561.410.030.012.00NAOx
And192.50197.505.000.840.280.040.131.290.13FR
DDH24LU2530.0028.5028.500.360.700.030.011.09NAOx
And120.30123.303.000.610.280.02<0.010.920.03FR
DDH24LU2540.0027.3027.300.380.120.010.080.58NAOx
And41.3080.9039.600.750.370.060.121.310.19FR
And84.5092.508.002.761.280.240.194.470.15FR
And93.50101.508.000.390.210.020.050.670.13FR
And193.00196.003.000.391.060.390.011.850.05FR
And208.00216.008.000.550.360.070.011.000.01FR
And227.00231.004.000.180.060.020.050.310.070.72FR
DDH24LU2550.001.841.841.301.280.230.042.85NAOx
And60.6063.603.000.710.450.060.011.230.02FR
And77.6090.6013.001.080.970.190.012.260.02FR
And152.30164.3012.000.420.210.030.020.680.08FR
And185.05185.850.800.410.140.05<0.010.602.11FR
DDH24LU2560.008.358.351.390.550.100.102.14NAOx
And21.3564.7043.351.520.800.130.222.670.20FR
And71.7072.701.008.568.861.500.5319.400.01FR
And85.6089.604.000.720.350.040.031.140.06FR
And131.60166.6035.000.610.350.060.051.070.10FR
DDH24LU2570.0018.8018.800.350.620.090.011.07NAOx
DDH24LU2580.0045.6045.602.481.850.340.345.01NAOx
And88.6090.602.002.189.912.190.1514.430.01FR/LS
And99.60104.605.000.260.280.080.010.620.01FR
And162.60180.6018.000.300.180.030.030.530.03FR
DDH24LU2598.6010.602.0012.7642.154.792.5962.28NAOx
And13.6073.9060.300.310.540.05<0.010.910.01Ox/FR
And77.9078.901.000.6613.983.03<0.0117.670.01FR/LS
And134.45172.7038.250.410.400.060.010.880.05FR
Notes:  All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given orientation of drilling and mineralization, intercepts are estimated at 125% to 140% of true thickness in the North Sector.
Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphide. 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 historical total nickel assays
Figure 3: Location of Bravo Drilling and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)
Figure 3: Location of Bravo Drilling and Sections Reported in this News Release (CNW Group/Bravo Mining Corp.)

About Bravo Mining Corp.

Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga PGM+Au+Ni Project in the world-class Carajás Mineral Province of Brazil.

The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure, including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration drilling and trenching program is well advanced for 2024. Bravo’s current Environmental, Social and Governance activities includes planting more than 30,000 high-value 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, F.AusIMM (Fellow Australia Institute of Mining and Metallurgy), President of Bravo Mining Corp. who serves as the Company’s “qualified person” as defined in National Instrument 43-101 Standards of Disclosure for Mineral Projects (“NI 43-101“). Mr. Mottram has verified the technical data and opinions contained in this news release.

For further information about Bravo, please visit www.bravomining.com

Forward Looking Statements 

This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as “thick”, “high-grade”, “centre of gravity”, “numerous”, “significantly”, “enhanced”, “potential”, “concentration”, “consistently”, “improvement”, “extension”, “centre of gravity”, “numerous”, “bodes well”, variants of these words and other similar words, phrases, or statements that certain events or conditions “may” or “will” occur. This news release contains forward-looking information pertaining to the Company’s ongoing drill program and the results thereof; comparisons to historical and/or prior Bravo drilling; the potential for extensions to mineralization at depth; the potential for greater thicknesses and/or higher grades at depth; the impact of current and future drilling on future mineral resource estimates, after taking into account other modifying factors; whether or not the mineralization is amenable to open pit mining and, if so, to what extent; the potential for a second centre of gravity for the Luanga deposit; potential economic outcomes, including strip ratios, in future economic studies; and the Company’s plans in respect thereof. Forward-looking information involves risks, uncertainties and other factors that could cause actual events, results, and opportunities to differ materially from those expressed or implied by such forward-looking information. Factors that could cause actual results to differ materially from such forward-looking information include, but are not limited to, unexpected results from exploration programs, changes in the state of equity and debt markets, fluctuations in commodity prices, delays in obtaining required regulatory or governmental approvals, environmental risks, limitations on insurance coverage; and other risks and uncertainties involved in the mineral exploration and development industry. Forward-looking information in this news release is based on the opinions and assumptions of management considered reasonable as of the date hereof, including, but not limited to, the assumption that the assay results confirm that the interpreted mineralization contains significant values of nickel, PGMs and Au; that the mineralization remains open to depth, that PGM and/or Ni grades and mineralized thicknesses are improving to depth; that final drill and assay results will be in line with management’s expectations; that activities will not be adversely disrupted or impeded by regulatory, political, community, economic, environmental and/or healthy and safety risks; that the Luanga Project will not be materially affected by potential supply chain disruptions; and general business and economic conditions will not change in a materially adverse manner. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this news release are reasonable, undue reliance should not be placed on such information. The Company disclaims any intention or obligation to update or revise any forward-looking information, other than as required by applicable securities laws.

Schedule 1: Drill Hole Collar Details

HOLE-IDCompanyEast (m)North (m)RL (m)DatumDepth(m)AzimuthDipSector
DDH24LU243Bravo659320.2969343423.067234.075SIRGAS2000_UTM_22S180.3590.00-60.00North
DDH24LU245Bravo659449.9089343222.998265.789SIRGAS2000_UTM_22S201.0590.00-60.00North
DDH24LU247Bravo659487.7309343274.466255.947SIRGAS2000_UTM_22S195.8590.00-60.00North
DDH24LU248Bravo659629.1679342814.033287.632SIRGAS2000_UTM_22S115.2590.00-60.00North
DDH24LU249Bravo659418.8899343274.468256.112SIRGAS2000_UTM_22S260.6590.00-65.00North
DDH24LU250Bravo659586.2529342814.013279.501SIRGAS2000_UTM_22S150.8090.00-60.00North
DDH24LU251Bravo659558.6549342926.032280.623SIRGAS2000_UTM_22S136.2590.00-60.00North
DDH24LU252Bravo659397.2529343223.012257.381SIRGAS2000_UTM_22S260.7590.00-60.00North
DDH24LU253Bravo659511.5389342926.040274.883SIRGAS2000_UTM_22S195.7090.00-60.00North
DDH24LU254Bravo659498.1239343222.968273.546SIRGAS2000_UTM_22S275.2590.00-60.00North
DDH24LU255Bravo659511.2419343022.997273.370SIRGAS2000_UTM_22S260.1590.00-60.00North
DDH24LU256Bravo659492.7439343174.490275.190SIRGAS2000_UTM_22S280.8090.00-60.00North
DDH24LU257Bravo659462.4399343074.444260.638SIRGAS2000_UTM_22S160.2590.00-60.00North
DDH24LU258Bravo659498.3669343123.980266.226SIRGAS2000_UTM_22S278.5590.00-60.00North
DDH24LU259Bravo659399.3859343174.526254.921SIRGAS2000_UTM_22S260.8090.00-60.00North

Schedule 2: Assay Methodologies and QAQC

Samples follow a chain of custody between collection, processing, and delivery to the SGS Geosol laboratory in Parauapebas, state of Pará, Brazil. The drill core is delivered to the core shack at Bravo’s Luanga site facilities and processed by geologists who insert certified reference materials, blanks, and duplicates into the sampling sequence. Drill core is half cut and placed in secured polyurethane bags, then in security-sealed sacks before being delivered directly from the Luanga site facilities to the Parauapebas SGS Geosol laboratory by Bravo staff. Additional information about the methodology can be found on the SGS Geosol website (SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core is also presented in the table below, where the information is known.

Quality Assurance and Quality Control (“QAQC“) is maintained internally at the lab through rigorous use of internal certified reference materials, blanks, and duplicates. An additional QAQC program is administered by Bravo using certified reference materials, duplicate samples and blank samples that are blindly inserted into the sample batch. If a QAQC sample returns an unacceptable value an investigation into the results is triggered and when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.

Bravo SGS Geosol
PreparationMethodMethodMethodMethod
For All ElementsPt, Pd, AuRhSulphide Ni, CuTrace Elements
PRPCLI (85% at 200#)FAI515FAI30VAA04BICP40B
Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)
Bravo Mining Corp. Logo (CNW Group/Bravo Mining Corp.)

SOURCE Bravo Mining Corp.

Cision
Cision

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