Bravo’s Drilling at Luanga’s Northern Sector Shows Multiple Stacked Zones of PGM+Au Mineralization Highlights Include 44.5m at 2.07g/t PGM+Au, 24.0m at 2.98*g/t PGM+Au and 16.0m at 4.11g/t PGM+Au
NEWS RELEASE
21 March 2023
1 | P a g e
Bravo’s Drilling at Luanga’s Northern Sector Shows Multiple Stacked Zones of
PGM+Au Mineralization
Highlights Include 44.5m at 2.07g/t PGM+Au, 24.0m at 2.98*g/t PGM+Au and
16.0m at 4.11g/t PGM+Au
VANCOUVER, March 21, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company ”)
announced that it has received assay results from twenty-seven diamond drill holes (“DDH”) concentrated mostly in
the Northern Sector of its 100% owned Luanga palladium + platinum + rhodium + gold + nickel project (“Luanga” or
“Luanga PGM+Au+Ni Project”), located in the Carajás Mineral Province, state of Pará, Brazil.
“The latest results from Luanga’s Northern Sector continue to provide excellent results, comparing well with historic
drilling on nearby drill sections, in both tenor and mineralized thickness. Results also confirm that rhodium is a
significant part of the Luanga project, with unique high-grade levels of rhodium now identified in all three Sectors at
Luanga.” Drilling in the Northern Sector has not yet made significant progress into the basal ultramafic footwall;
however, we still see evidence for increasing levels of magm atic nickel sulphides as drilling approaches the basal
position,” said Luis Azevedo, Chairman and CEO of Bravo. “We look forward to starting the Phase 2 program including
testing the potential depth extents of Luanga PGM +Au+Ni mineralization combined with testing the potential for
magmatic nickel sulphide mineralization at depth.”
Highlights Include:
▪ Assay results received from drilling in the Northern Sector compare well with intercepts in historic drilling on
nearby drill sections both in tenor and mineralized thickness.
▪ Mineralization in the Northern Sector of Luanga is typified by multiple stacked zones of PGM+Au
mineralization, with magmatic nickel sulphide mineralization appearing to be more prevalent on the footwall
(basal) ultramafic side of the system.
▪ Surface geophysical programs have commenced with detailed ground magnetic s. Fixed Loop ground
electromagnetics ( EM) will commence on arriv al of the EM crew, while micro-gravity survey ing will be
completed after the detailed magnetic survey. All geophysical surveys will start in Luanga’s Central Sector,
where the basal (footwall) harzburgite (ultramafic) sequence is significantly thicker , and nickel potential
expected to be better, supported by recent higher-grade nickel intercepts.
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
PGM + Au
(g/t)
Ni** (%)
Sulphide) TYPE
DDH22LU074 0.0 52.9 52.9 0.48 0.76 0.05 0.01 1.29 NA Ox/FR
DDH22LU075 105.0 116.0 11.0 0.80 1.35 0.19 0.02 2.35 0.03 FR/LS
DDH22LU078 122.3 150.7 EOH 28.4 0.55 0.95 0.01 0.01 1.53 0.01 FR/LS
DDH22LU082 115.6 131.6 16.0 2.05 1.73 0.26 0.06 4.11 0.07 FR
DDH22LU086 0.0 9.2 9.2 3.22 1.36 0.18 0.04 4.79 NA Ox
And 86.4 130.9 44.5 1.19 0.70 0.15 0.03 2.07 0.14 FR
DDH22LU090 0.0 39.9 39.9 1.11 0.64 0.11 0.02 1.88 NA FR
DDH22LU091 54.6 62.6 8.0 1.37 0.99 0.14 0.01 2.51 0.11 FR
And 68.2 92.6 24.0 1.33 1.36 0.24* 0.04 2.98 0.19 FR
And 106.6 109.6 3.0 2.12 4.42 0.73* 0.03 7.30 0.01 FR/LS
DDH22LU097 51.6 107.6 56.0 0.47 0.64 0.08 0.03 1.22 0.01 FR/LS
DDH22LU104 0.0 12.2 12.2 1.17 0.66 0.11 0.02 1.96 NA Ox
DDH22LU113 0.0 34.0 34.0 0.21 1.18 0.02 0.01 1.42 NA Ox
And 46.0 82.4 36.4 0.28 1.38 0.05 0.01 1.72 0.01 FR/LS
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. ‘EOH’ End Of Hole.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 95% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
* Includes result/s Rh >1.00g/t requiring re-assay with a higher detection limit, results pending.
** Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays
NEWS RELEASE
21 March 2023
2 | P a g e
Luanga Northern Sector Infill Drilling
Drill results received from Luanga’s Northern Sector, like results from the rest of the Luanga trend, continue to
compare well with intercepts in historic drilling on nearby drill sections, in both tenor and mineralized thickness (see
Sections 1, 2, 3). Together, Figures 1 and 2 show an ~2.5km strike perspective of Luanga’s Northern Sector, where
results presented in this press release can be viewed on a broader scale, displayed over nickel-in-soil geochemistry
The ultramafic footwall is towards the eastern (right-hand) side of the figures.
Figure 1: Northern Sector A. Results consistent with historic drilling, with drilling now closed to 100m spaced sections.
NEWS RELEASE
21 March 2023
3 | P a g e
Figure 2: Northern Sector B. Results consistent with historic drilling, with drilling now closed to 100m spaced sections.
NEWS RELEASE
21 March 2023
4 | P a g e
Figure 3 (Section 1 on Figure 6) is typical of mineralization in the Northern Sector of Luanga, where multiple stacked
zones of PGM+Au mineralization are hosted in the orthopyroxenite transitional zone, while the footwall ultramafic
and its associated more significant magmatic nickel sulphide mineralization is yet to be encountered below.
Figure 3: Northern Sector Section 1 – Multiple stacked zones of mineralization.
Figure 4 (Section 2 on Figure 6) again shows multiple stacked zones on PGM+Au mineralization hosted in the
orthopyroxenite transitional zone, while the footwall ultramafic is yet to be encountered below.
NEWS RELEASE
21 March 2023
5 | P a g e
Figure 4: Northern Sector Section 2 – Multiple stacked zones of mineralization.
Figure 5 (Section 3 on Figure 6) is the most southerly section of the Northern Sector. Here multiple stacked zones of
mineralization have started to give way to a lesser number of thicker zones of mineralization (typical of the Central
Sector) while, at the same time, mineralization passes through vertical in inclination and becomes steeply dipping to
the east, where it continues for the next >5km, through the Central and Southwest Sectors (see sections in a previous
news release featuring the Central Sector, February 28th, 2023.
NEWS RELEASE
21 March 2023
6 | P a g e
Figure 5: Central Sector Section 3 – Multiple zones begin to give way to a lesser number of thicker zones as seen in the Central Sector.
Luanga Drill Program Progress
A total of 160 drill holes (25 in 2023) have been completed by Bravo to date, for 27,794 metres, including all 8 planned
twin holes and all 8 metallurgical holes (not being subject to routine assaying).
Results have been reported for 85 Bravo drill holes to date. Excluding the metallurgical holes, results for 48 Bravo
drill holes are currently outstanding.
Approximately 9 priority drill holes (4 currently in progress) remain to complete the redrill of the historic mineral
resource area. Once these holes are completed and results received, preparation of Bravo’s maiden mineral resource
estimate for Luanga will commence, and drilling will shift to Phase 2.
The Phase 2 program of work will focus on step out and exploration. Extensional drilling has the objective of extending
known zones of PGM+Au+Ni mineralization at depth, below the approximate 150m vertical depth previously defined
by historic drilling.
The Phase 2 program also includes a significant budget allocation for exploration . This work will focus on following
up newly identified higher -grade magmatic nickel (± copper ) sulphide mineralization types identified within the
Luanga footwall (stratigraphically below PGM+Au min eralization), the potential feeder zone (s) to Luanga, and the
exploration of new targets outside of the currently defined mineralized trends.
NEWS RELEASE
21 March 2023
7 | P a g e
Complete Table of Recent Intercepts
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
PGM + Au
(g/t)
Ni** (%)
Sulphide) TYPE
DDH22LU056 112.7 115.7 3.0 0.37 0.18 0.06 0.02 0.63 0.16 FR
And 125.3 127.3 2.0 0.51 0.27 0.00 0.01 0.79 0.02 FR
DDH22LU057 0.0 16.2 16.2 0.45 0.29 0.06 0.05 0.86 NA Ox
And 48.9 60.9 12.0 0.18 0.08 0.01 0.01 0.27 0.18 FR
And 90.6 106.6 16.0 0.22 0.10 0.03 0.02 0.37 0.20 FR
And 126.6 136.6 10.0 0.23 0.08 0.03 0.01 0.35 0.30 FR
DDH22LU060 10.0 14.0 4.0 0.24 0.13 0.02 0.01 0.39 NA Ox
DDH22LU063 14.3 15.3 1.0 0.06 0.02 0.01 0.57 0.66 NA Ox
DDH22LU067 0.0 2.0 2.0 2.54 3.09 0.32 0.10 6.04 NA Ox
And 25.2 32.2 7.0 0.41 0.23 0.05 0.01 0.71 0.16 FR
DDH22LU070 3.0 17.0 14.0 0.27 0.87 0.14 0.01 1.28 NA FR
DDH22LU072 0.0 10.0 10.0 0.56 0.27 0.07 0.02 0.92 NA FR
DDH22LU074 0.0 52.9 52.9 0.48 0.76 0.05 0.01 1.29 NA Ox/FR
DDH22LU075 0.0 6.0 6.0 0.89 0.60 0.08 0.19 1.75 NA Ox
And 80.0 85.0 5.0 0.72 0.43 0.06 0.04 1.25 0.11 FR
And 91.0 94.0 3.0 0.49 0.35 0.06 0.02 0.93 0.05 FR
And 105.0 116.0 11.0 0.80 1.35 0.19 0.02 2.35 0.03 FR/LS
And 119.0 126.0 7.0 0.24 0.32 0.06 0.01 0.62 0.01 FR/LS
And 150.0 150.9 EOH 0.9 4.72 1.13 0.33 0.13 6.30 0.02 FR
DDH22LU078 0.0 3.0 3.0 0.36 1.09 0.18 0.01 1.64 NA Ox
And 80.4 84.4 4.0 0.41 0.65 0.04 0.01 1.10 0.01 FR/LS
And 122.3 150.7 EOH 28.4 0.55 0.95 0.01 0.01 1.53 0.01 FR/LS
DDH22LU082 0.0 5.4 5.4 0.64 2.92 0.15 0.01 3.73 NA Ox
And 47.7 50.5 3.8 0.42 0.70 0.02 0.01 1.14 0.01 FR/LS
And 115.6 131.6 16.0 2.05 1.73 0.26 0.06 4.11 0.07 FR
DDH22LU085 0.0 3.0 3.0 0.40 0.22 0.06 0.03 0.71 NA Ox
And 140.6 148.3 7.7 1.69 1.14 0.14 0.02 2.98 0.12 FR
DDH22LU086 0.0 9.2 9.2 3.22 1.36 0.18 0.04 4.79 NA Ox
And 44.2 47.4 3.2 0.41 1.72 0.35 0.01 2.48 0.01 FR/LS
And 73.7 74.7 1.0 2.56 11.95 >1.00 0.02 15.53 0.02 FR/LS
And 86.4 130.9 44.5 1.19 0.70 0.15 0.03 2.07 0.14 FR
And 142.9 150.6 EOH 7.7 0.35 0.16 0.03 0.02 0.56 0.07 FR
DDH22LU089 0.0 65.8 65.8 0.61 0.29 0.07 0.03 1.00 NA Ox/FR
Including 21.4 65.8 44.4 0.58 0.29 0.07 0.02 0.97 0.14 FR
DDH22LU090 0.0 39.9 39.9 1.11 0.64 0.11 0.02 1.88 NA FR
And 52.9 61.9 9.0 0.52 0.28 0.04 0.01 0.85 0.03 FR
And 72.9 82.9 10.0 0.46 0.27 0.07 0.02 0.81 0.03 FR
DDH22LU091 54.6 62.6 8.0 1.37 0.99 0.14 0.01 2.51 0.11 FR
And 68.2 92.6 24.0 1.33 1.36 0.24* 0.04 2.98 0.19 FR
And 106.6 109.6 3.0 2.12 4.42 0.73* 0.03 7.30 0.01 FR/LS
DDH22LU092 0.0 6.0 6.0 0.52 0.39 0.08 0.02 1.02 NA Ox
And 66.0 71.0 5.0 0.57 0.21 0.05 0.01 0.83 0.07 FR
And 144.5 147.5 3.0 0.69 0.46 0.13 0.01 1.29 0.01 FR
DDH22LU093 55.4 62.4 7.0 0.64 0.30 0.05 0.01 1.00 0.13 FR
And 91.4 95.4 4.0 0.98 0.22 0.02 0.01 1.23 0.01 FR
DDH22LU095 No Significant Result
DDH22LU096 100.8 102.7 1.9 0.11 0.53 0.17 0.01 0.82 0.01 FR/LS
DDH22LU097 0.0 9.2 9.2 1.03 0.42 0.08 0.04 1.57 NA Ox
And 25.3 38.3 13.0 0.84 0.34 0.06 0.04 1.28 0.05 FR
And 51.6 107.6 56.0 0.47 0.64 0.08 0.03 1.22 0.01 FR/LS
DDH22LU099 0.0 21.3 21.3 0.23 0.57 0.10 0.01 0.90 NA Ox
And 136.8 138.8 2.0 6.32 3.97 0.63 0.08 10.99 0.01 FR
NEWS RELEASE
21 March 2023
8 | P a g e
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
PGM + Au
(g/t)
Ni** (%)
Sulphide) TYPE
DDH22LU101 10.2 17.2 7.0 0.41 0.14 0.03 0.06 0.64 0.19 FR
And 50.1 60.1 10.0 0.40 0.13 0.02 0.01 0.56 0.11 FR
DDH22LU104 0.0 12.2 12.2 1.17 0.66 0.11 0.02 1.96 NA Ox
And 39.1 57.0 17.9 0.46 0.66 0.03 0.01 1.15 0.01 FR/LS
DDH22LU110 75.4 78.4 3.0 0.64 0.22 0.01 0.10 0.97 0.08 FR
And 105.4 109.4 4.0 0.52 0.25 0.02 0.12 0.90 0.03 FR
And 190.4 194.4 4.0 1.88 0.95 0.20 0.06 3.09 0.11 FR
And 237.4 245.4 8.0 1.54 0.69 0.11 0.02 2.35 0.03 FR
DDH22LU113 0.0 34.0 34.0 0.21 1.18 0.02 0.01 1.42 NA Ox
And 46.0 82.4 36.4 0.28 1.38 0.05 0.01 1.72 0.01 FR/LS
DDH22LU114 0.0 65.4 65.4 0.30 0.21 0.01 0.01 0.54 NA Ox/FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. ‘EOH’ End Of Hole.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 95% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
* Includes result/s Rh >1.00g/t requiring re-assay with a higher detection limit, results pending.
** Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays
DDH22LU095 returned no significant results , whiles holes DDH22LU 060 and 063 intercepted only weak
mineralization, as these holes are on the far east of their respective sections, having passed over the top of the
mineralization. DDH22LU096 is on the western end of a section outside the limits of known mineralization.