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Bravo's Luanga PGM+Au+Ni Deposit Continues to Deliver Significant Mineralized Grades & Thicknesses

05.11.2024  |  CNW

Highlights include 21m at 9.34g/t PGM+Au, 116m at 1.59g/t PGM+Au,
5m at 16.40g/t PGM+Au, and 42m at 2.41g/t PGM+Au, 0.12% Ni

VANCOUVER, Nov. 5, 2024 - Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") received assay results from twenty-five diamond drill holes ("DDH") from 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.

"Today's drilling results mark another step forward as Bravo progresses towards completing the 2024 PGM definition drilling program to support future MRE updates. These results continue to intercept high grades over thick intersections, including those in the Oxide and Low Sulphide zones that have high platinum to palladium ratios.", said Luis Azevedo, Chairman and CEO. "The Luanga Project's consistent delivery of robust results and advancements across various potential development tracks solidify its position as a leading candidate to become a major new Western supplier of these essential metals through market cycles and away from sources affected by geopolitical risks and deep operational challenges. The Project's potential benefits from the substantial infrastructure of the Carajás District, including cost-effective hydro power as well as ready access to power lines, highways, rail, water, labour, and suppliers."

Highlights Include:

  • Infill and extensional drilling in the Central Sector continue to reveal improved mineralized grades and thicknesses as compared to previous 100m spaced sections.
  • Much of the mineralization intersected in the new drilling lies within 150m of surface and remains open for further extension to depth.
  • Drilling in the North Sector of the Luanga deposit continues to demonstrate high-grade supergene mineralization in the oxide zone (e.g. 21m at 9.34g/t PGM+Au in DDH24LU264) and wide zones of mineralization in the fresh rock (e.g. 116m at 1.59g/t PGM+Au in DDH24LU266).
  • Drilling at T5 target continues to extend mineralization eastward. Testing of the Bore Hole Electromagnetic ("BHEM") anomaly at T1 will commence soon, as well as drill testing of a new copper/gold target west of T5.

HOLE-ID

From

(m)

To

(m)

Thickness (m)

Pd

Pt

Rh

Au

PGM + Au

Ni* (%) Sulphide

TYPE

Sector

(g/t)

(g/t)

(g/t)

(g/t)

(g/t)

DDH24LU264

0.00

21.00

21.00

1.05

8.14

0.08

0.07

9.34

NA

Ox

North

DDH24LU265

128.30

164.60

36.30

0.45

1.36

0.04

0.01

1.87

0.01

FR/LS

North

And

201.60

228.60

27.00

1.64

0.93

0.18

0.04

2.78

0.07

FR

North

DDH24LU266

29.70

146.00

116.30

0.54

1.01

0.03

0.01

1.59

0.02

FR

North

DDH24LU269

49.65

54.65

5.00

10.46

5.09

0.77

0.08

16.40

0.04

FR

Central

DDH24LU271

69.20

81.20

12.00

2.09

0.92

0.14

0.01

3.16

0.12

FR

Central

DDH24LU275

25.80

46.90

21.10

2.34

0.81

0.15

0.03

3.33

0.10

FR

Central

DDH24LU277

86.90

89.90

3.00

22.13

8.56

1.01

0.06

31.65

0.03

FR

Central

And

175.90

179.90

4.00

3.21

13.93

0.62

0.01

17.77

0.02

FR/LS

Central

DDH24LU278

23.00

27.00

4.00

4.13

2.18

0.31

0.03

6.64

0.02

FR

Central

DDH24LU280

150.50

184.50

34.00

1.71

0.56

0.08

0.17

2.52

0.29

FR

Central

DDH24LU281

102.80

142.80

40.00

1.43

0.51

0.07

0.14

2.16

0.23

FR

Central

DDH24LU282

170.65

213.30

42.65

1.67

0.61

0.09

0.04

2.41

0.28

FR

Central

Notes: All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material. Given the orientation of drilling and mineralization, intercepts are estimated at 115% to 135% of true thickness in the Central Sector, and 135% to 155% 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 twenty-five diamond drill holes have been received, eight from the North Sector and seventeen from the Central Sector of the Luanga PGM+Au+Ni deposit. All the drill holes reported herein are angled holes (-60 degrees), towards an azimuth of 090° in the North Sector and 330° in the Central sector. Together, this set of drill holes comprise a total of 4,994.6 metres of diamond drilling.

Section 1 (Figure 1) in the Central Sector shows an infill section, with DDH24LU282 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 DDH23LU230 to DDH24LU237 to DDH24LU282. These results continue to support the mineralization defined on Bravo's earlier 100m spaced sections. This work continues to bode well for potential future project studies.

Section 2 (Figure 2) shows infill hole DDH24LU280, in the Central Sector, aimed at increasing classification confidence in the next MRE update. Drilling also shows mineralized grades and thicknesses that are similar to, or better than, drilling from earlier Bravo phases on either side of this drill hole (DDH23LU058 and DDH23LU136). Trenching (TRC24LU031A/B) on this section also demonstrates the more significant volume of near surface oxide mineralization (due to dispersion) compared to more discrete thicknesses intersected by drilling in the fresh rock below. These results will support future Mineral Resource Estimate ("MRE") updates.

Section 3 (Figure 3) is an infill section in the Central Sector. Drilling (DDH24LU275, and DDH22LU059) also shows clear evidence of better mineralized grades and thicknesses compared to historic drilling (PPT-LUAN-FD0121) between the Bravo drill holes, again with mineralization defined to date less to ~150m from surface and still open at depth.

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

Exploration is progressing on both BHEM targets and HeliTEM targets. Drilling continues at T5, the previously reported massive sulphide Cu-Ni discovery (see news release dated May 28, 2024), expanding mineralization to the east. Drilling to follow up BHEM at T1 will commence soon, along with drill testing of a new copper target located west of T5.

Drill Results Status Update

A total of 338 drill holes have been completed by Bravo to date, for 72,006 metres, including 8 metallurgical holes (not subject to routine assaying). Results have been reported for 297 Bravo drill holes to date. Assay results for 33 Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes). A total of 42 trenches have been completed to date (for 8,317 metres), with results for 37 trenches reported and results for 5 trenches pending.

Complete Table of Recent Intercepts.

HOLE-ID

From

To

Thickness (m)

Pd

Pt

Rh

Au

PGM + Au

Ni* (%) Sulphide

TYPE

(m)

(m)

(g/t)

(g/t)

(g/t)

(g/t)

(g/t)

DDH24LU260

119.90

123.90

4.00

2.68

4.24

2.22

0.52

9.66

0.01

FR/LS

DDH24LU261

0.00

41.50

41.50

0.44

0.77

0.03

0.01

1.24

NA

Ox

And

53.90

73.90

20.00

0.27

0.59

0.08

<0.01

0.94

0.02

FR/LS

And

88.90

90.90

2.00

0.31

0.89

0.13

0.01

1.34

0.02

FR/LS

And

111.90

113.90

2.00

0.95

2.53

0.49

0.02

4.00

0.02

FR/LS

And

181.90

192.90

11.00

0.39

0.23

0.04

0.01

0.66

0.03

FR

DDH24LU262

0.00

35.00

35.00

0.33

0.68

0.03

0.01

1.05

NA

Ox

And

35.00

49.00

14.00

0.16

0.46

0.05

0.01

0.66

0.01

FR/LS

And

58.00

63.00

5.00

1.16

4.61

0.92

0.03

6.71

0.02

FR/LS

And

146.00

152.00

6.00

0.91

2.62

0.42

0.15

3.96

0.15

FR

DDH24LU263

0.00

29.90

29.90

0.64

0.68

0.02

<0.01

1.34

NA

Ox

And

62.50

68.55

6.05

0.35

0.76

0.03

0.01

1.15

0.01

FR/LS

And

72.55

104.60

32.05

0.27

0.60

0.04

<0.01

0.91

0.01

FR/LS

And

147.60

151.60

4.00

0.64

0.63

0.11

0.03

1.40

0.14

FR

And

177.60

192.60

15.00

0.39

0.18

0.02

0.05

0.64

0.09

FR

DDH24LU264

0.00

21.00

21.00

1.05

8.14

0.08

0.07

9.34

NA

Ox

And

31.25

85.30

54.05

0.37

0.71

0.02

<0.01

1.10

0.01

FR/LS

DDH24LU265

128.30

164.60

36.30

0.45

1.36

0.04

0.01

1.87

0.01

FR/LS

And

201.60

228.60

27.00

1.64

0.93

0.18

0.04

2.78

0.07

FR

DDH24LU266

0.00

7.85

7.85

0.30

1.01

0.04

0.01

1.35

NA

Ox

And

29.70

146.00

116.30

0.54

1.01

0.03

0.01

1.59

0.02

FR

And

186.00

194.00

8.00

0.59

0.42

0.08

0.01

1.10

0.10

FR

DDH24LU267

67.00

92.00

25.00

0.21

0.49

0.03

<0.01

0.73

0.01

FR

And

236.80

242.80

6.00

0.54

0.37

0.05

<0.01

0.97

0.06

FR

And

269.80

277.80

8.00

0.23

0.10

0.04

<0.01

0.37

0.21

FR

DDH24LU268

0.00

12.00

12.00

0.31

0.62

0.07

0.01

1.02

NA

Ox

DDH24LU269

49.65

54.65

5.00

10.46

5.09

0.77

0.08

16.40

0.04

FR

And

107.30

149.30

42.00

0.31

0.25

<0.01

<0.01

0.57

0.03

FR

DDH24LU270

47.00

88.00

41.00

0.27

0.22

0.01

<0.01

0.51

0.02

FR

DDH24LU271

0.00

5.15

5.15

0.84

0.33

0.03

0.03

1.25

NA

FR

And

69.20

81.20

12.00

2.09

0.92

0.14

0.01

3.16

0.12

FR

And

181.20

249.20

68.00

0.31

0.29

0.01

<0.01

0.61

0.02

FR

DDH24LU272

0.00

2.70

2.70

0.49

0.29

0.06

0.02

0.87

NA

Ox

And

20.10

28.35

8.25

0.44

0.18

0.03

0.02

0.67

NA

Ox

And

31.00

38.00

7.00

1.01

0.41

0.08

0.03

1.54

0.19

FR

And

48.00

58.00

10.00

1.48

0.54

0.09

0.18

2.29

0.21

FR

And

136.00

191.00

55.00

0.34

0.31

0.01

<0.01

0.66

0.01

FR

DDH24LU273

0.00

12.75

12.75

1.21

0.49

0.08

0.02

1.80

NA

Ox

And

86.60

110.60

24.00

0.29

0.24

0.01

<0.01

0.53

0.01

FR

And

122.60

125.60

3.00

0.20

0.61

0.10

<0.01

0.92

0.01

FR/LS

DDH24LU274

0.00

6.00

6.00

0.33

0.21

0.01

0.01

0.56

NA

Ox

And

20.50

52.70

32.20

0.32

0.26

0.01

<0.01

0.59

0.01

FR

DDH24LU275

0.00

5.80

5.80

0.50

0.34

0.05

0.03

0.92

NA

Ox

And

25.80

46.90

21.10

2.34

0.81

0.15

0.03

3.33

0.10

FR

And

131.90

174.90

43.00

0.31

0.24

0.01

<0.01

0.57

0.02

FR

DDH24LU276

0.00

4.00

4.00

0.60

0.26

0.03

0.01

0.89

NA

Ox

And

84.50

96.50

12.00

0.33

0.20

0.01

<0.01

0.54

0.02

FR

DDH24LU277

0.00

1.79

1.79

0.49

0.22

0.28

0.02

1.01

NA

FR

And

75.90

80.90

5.00

0.67

0.39

0.04

0.02

1.11

0.05

FR

And

86.90

89.90

3.00

22.13

8.56

1.01

0.06

31.65

0.03

FR

And

149.90

161.90

12.00

0.18

0.38

0.01

0.01

0.58

0.01

FR/LS

And

175.90

179.90

4.00

3.21

13.93

0.62

0.01

17.77

0.02

FR/LS

DDH24LU278

14.00

17.00

3.00

2.28

0.93

0.16

0.02

3.38

NA

Ox

And

23.00

27.00

4.00

4.13

2.18

0.31

0.03

6.64

0.02

FR

And

120.50

126.77

6.27

0.20

0.33

0.01

0.01

0.54

0.01

FR

DDH24LU279

39.50

44.50

5.00

0.35

0.33

0.01

0.01

0.69

0.02

FR

DDH24LU280

107.95

112.75

4.80

0.59

0.20

0.03

0.06

0.88

0.31

FR

And

150.50

184.50

34.00

1.71

0.56

0.08

0.17

2.52

0.29

FR

And

206.50

237.50

31.00

0.25

0.24

<0.01

0.01

0.51

0.02

FR

DDH24LU281

15.90

19.60

3.70

0.60

0.26

<0.01

0.32

1.18

NA

Ox

And

56.80

60.80

4.00

0.45

0.15

<0.01

0.09

0.68

0.19

FR

And

63.80

66.80

3.00

0.61

0.24

<0.01

0.11

0.97

0.12

FR

And

79.80

87.80

8.00

0.29

0.11

0.01

0.10

0.50

0.11

FR

And

93.80

96.80

3.00

0.23

0.10

0.01

0.02

0.36

0.20

FR

And

102.80

142.80

40.00

1.43

0.51

0.07

0.14

2.16

0.23

FR

And

146.80

171.80

25.00

0.24

0.22

0.02

0.01

0.47

0.02

FR

DDH24LU282

170.65

213.30

42.65

1.67

0.61

0.09

0.04

2.41

0.28

FR

And

218.30

252.30

34.00

0.32

0.23

0.01

0.01

0.57

0.01

FR

And

295.30

299.30

4.00

1.80

1.75

0.27

0.14

3.97

0.04

FR

And

306.30

310.30

4.00

0.15

0.40

0.02

<0.01

0.61

0.02

FR

DDH24LU283

22.10

27.80

5.70

0.60

0.23

0.02

0.01

0.86

0.01

FR

DDH24LU284

109.38

113.97

4.59

0.25

0.31

0.01

<0.01

0.57

0.01

FR

Notes:

All 'From', 'To' depths, and 'Thicknesses' are downhole. 'NA' Not applicable for Oxide material.


Given the orientation of drilling and mineralization, intercepts are estimated at 115% to 135% of true thickness in the Central Sector, and 135% to 155% 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

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 +70,000 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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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 "continues", "significant", "critical", "undoubtedly", "robust", "potential", "solidify", "essential", "substantial", "improved", "further extension", "high-grade", "consistently increasing", "better", "wide", "bode 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; 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-ID

Company

East (m)

North (m)

RL (m)

Datum

Depth (m)

Azimuth

Dip

Sector

DDH24LU260

Bravo

659449.835

9343124.194

258.596

SIRGAS2000_UTM_22S

165.25

90.00

-60.00

North

DDH24LU261

Bravo

659398.590

9343123.961

255.949

SIRGAS2000_UTM_22S

245.40

90.00

-60.00

North

DDH24LU262

Bravo

659539.417

9342814.041

273.110

SIRGAS2000_UTM_22S

190.60

90.00

-60.00

North

DDH24LU263

Bravo

659451.586

9342974.382

267.848

SIRGAS2000_UTM_22S

260.55

90.00

-60.00

North

DDH24LU264

Bravo

659387.575

9343074.446

252.390

SIRGAS2000_UTM_22S

160.35

90.00

-60.00

North

DDH24LU265

Bravo

659297.480

9343074.500

237.800

SIRGAS2000_UTM_22S

260.30

90.00

-60.00

North

DDH24LU266

Bravo

659356.430

9343124.000

249.810

SIRGAS2000_UTM_22S

245.75

90.00

-60.00

North

DDH24LU267

Bravo

659655.160

9342616.070

254.510

SIRGAS2000_UTM_22S

350.35

90.00

-60.00

North

DDH24LU268

Bravo

658508.010

9340906.000

235.950

SIRGAS2000_UTM_22S

105.70

330.00

-60.00

Central

DDH24LU269

Bravo

658730.170

9340927.830

237.050

SIRGAS2000_UTM_22S

165.80

330.00

-60.00

Central

DDH24LU270

Bravo

658731.530

9341015.780

229.700

SIRGAS2000_UTM_22S

100.45

330.00

-60.00

Central

DDH24LU271

Bravo

658755.370

9340883.910

238.040

SIRGAS2000_UTM_22S

250.20

330.00

-60.00

Central

DDH24LU272

Bravo

658655.830

9340855.020

245.410

SIRGAS2000_UTM_22S

205.45

330.00

-60.00

Central

DDH24LU273

Bravo

658630.870

9340898.340

242.680

SIRGAS2000_UTM_22S

150.15

330.00

-60.00

Central

DDH24LU274

Bravo

658604.230

9340944.550

238.180

SIRGAS2000_UTM_22S

100.10

330.00

-60.00

Central

DDH24LU275

Bravo

658693.880

9340890.480

239.010

SIRGAS2000_UTM_22S

185.35

330.00

-60.00

Central

DDH24LU276

Bravo

658700.910

9340978.290

237.550

SIRGAS2000_UTM_22S

105.55

330.00

-60.00

Central

DDH24LU277

Bravo

658830.010

9340945.250

239.620

SIRGAS2000_UTM_22S

220.75

330.00

-60.00

Central

DDH24LU278

Bravo

658802.200

9340993.410

230.410

SIRGAS2000_UTM_22S

150.25

330.00

-60.00

Central

DDH24LU279

Bravo

658774.840

9341040.260

221.600

SIRGAS2000_UTM_22S

85.10

330.00

-60.00

Central

DDH24LU280

Bravo

658485.620

9340648.530

283.830

SIRGAS2000_UTM_22S

295.10

330.00

-60.00

Central

DDH24LU281

Bravo

658333.870

9340511.980

280.550

SIRGAS2000_UTM_22S

275.20

330.00

-60.00

Central

DDH24LU282

Bravo

658405.280

9340488.590

285.330

SIRGAS2000_UTM_22S

340.25

330.00

-60.00

Central

DDH24LU283

Bravo

658090.780

9340435.240

232.570

SIRGAS2000_UTM_22S

180.45

330.00

-60.00

Central

DDH24LU284

Bravo

658051.730

9340402.830

245.820

SIRGAS2000_UTM_22S

200.20

330.00

-60.00

Central

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

Preparation

Method

Method

Method

Method

For All Elements

Pt, Pd, Au

Rh

Sulphide Ni, Cu

Trace Elements

PRPCLI (85% at 200#)

FAI515

FAI30V

AA04B

ICP40B

SOURCE Bravo Mining Corp.



Contact
Luis Azevedo, Chairman and CEO or Alex Penha, EVP Corporate Development, T: +1-416-509-0583, info@bravomining.com
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