Bravo Announces Plans for 2024 Drilling and Trenching Program Designed to Upgrade and Expand PGM+Au+Ni Mineralization at Luanga
NEWS RELEASE
8 February 2024
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Bravo Announces Plans for 2024
Drilling and Trenching Program Designed to Upgrade and Expand PGM+Au+Ni Mineralization at Luanga
VANCOUVER, February 8, 2024 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF) (“ Bravo” or the “ Company”)
today announces its plans for the advancement 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.
2024 Luanga Plan Highlights
• Drilling Program – 16,000m of infill and drilling designed to upgrade and expand the known mineralization.
• Trenching Program - 11,000m of additional trenching along the entire 8km strike length of the Luanga
deposit to more fully define and potentially expand the oxide mineralization.
• Drilling EM Anomalies - 3,000m of drilling allocated to follow up the HeliTEM identified anomalies, including
down hole electromagnetic (DHEM) surveys.
• Metallurgy Program – Focused on evaluating downstream processing options toward detailed
characterization, flow-sheet design, and optimization.
• Permitting Process – Planned submission of the Environmental Impact Assessment (EIA) and application for
the Preliminary Licence (LP) with the Pará State Environmental Agency.
“In 2024, Bravo plans to continue its successful resource definition and expansion program at Luanga, as well as
advancing other aspects of the project in parallel ,” said Luis Azevedo, Chair and CEO of Bravo. “Upon completion of
the ongoing drilling program, Bravo will have a total drilling inventory of approximately 129,500m, an increase of
approximately 50 % compared to the total drilling utilized in our maiden Mineral Resource Estimate (MRE). The
planned trenching program, proven effective in adding tonnages to the MRE, will be substantially expanded to cover
Luanga's extensive 8.1km strike length. Additionally, we have allocated 3,000m of exploratory drilling to evaluate the
nickel sulphide potential of the project . Various multidisciplinary activities in support of future economic studies ,
including continuing metallurgical testing and optimization, along with progress in the permitting process, are well
underway and should support a disciplined review of potential future options for the Project.”
Drilling Program
During 2022-23, Bravo drilled 251 holes for 54,407 metre with the holes aimed at increasing confidence levels and
expanding the mineral resources . Combining the drillholes executed in 2023 with those from 2022 and historical
data, Bravo's drilling inventory concluded 2023 with 104,242 metres from 503 drillholes, of which 407 drillholes for
82,082 metres were used in the mineral resource estimate (“MRE”) announced on October 22, 2023.
Since the cut -off date for the MRE in October 2023, Bravo has completed an additional 39 drill holes for 10,201m.
The Phase 3 drill program continues with the objective of upgrading portions of the MRE not already in the indicated
category and expanding the MRE at depth. Mineralization has now been defined to a depth of ~450m in some areas,
compared to MRE’s 200m average depth.
To achieve this objective, Bravo has planned approximately 16,000m of additional drilling in 89 holes, with most of
the planned drilling concentrated in the Central and North Sectors. An updated MRE is expected to be reported in
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the second half of 2024, with a t otal drilling inventory of approximately 129,500m expected to be used in the
calculation of the updated MRE.
Figure 1: 2024 Planned Drill Holes
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Trenching Program
In parallel with the proposed drill program, Bravo plans to continue its successful trenching program along the entire
8.1km strike length of the Luanga deposit to fully define the extent of the oxide mineralization, since results to date
(see news releases December 14, 2023 , September 26, 2023 and May 8, 2023 ) have shown a much broader
development of oxide hosted mineralization, along with significant supergene enrichment. 11,000m of trenching
has been planned for the first half of 2024, in addition to the 1,580m used in the current MRE.
Figure 2: 2024 Planned Trenching
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Drilling testing of EM Anomalies
Bravo plans to systematically evaluate the nickel sulphide potential at Luanga, using geophysical surveys completed
in 2023, as a targeting tool. These surveys included airborne and ground electromagnetics (see news release dated
September 11, 2023), airborne and ground magnetics and ground microgravity, from which drilling targets have been
prioritized.
A total of 3,000m of drilling has been allocated to follow up the identified anomalies, complemented by down hole
electromagnetic (DHEM) surveys.
Metallurgy Program
Bravo has completed extensive metallurgical testing of the sulphide and oxide mineralization that support ed the
MRE’s reasonable prospects for eventual economic extraction , results of which were summarized in the Technical
Report dated October 22, 2023.
Additional test work continues to optimize the recoveries and evaluate downstream processing options toward
detailed characterization, flow-sheet design, and optimization.
In parallel, tailings design parameters and utilization (carbon capture) will also be advanced to support potential
requirements for permitting and enviro-economic considerations and project studies.
Permitting Process
Bravo has now completed the environmental baseline work necessary to support the Environmental Impact
Assessment (EIA) submission and Preliminary Licence (LP) application with the Pará State Environmental Agency –
Semas. The EIA should be submitted in Q1 /2024 and Bravo expects to continue advancing the permitting process
over the coming year, in parallel with its other activities.
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, with excellent access and proximity to existing infrastructure, including road, rail, and clean
renewable hydro grid power. A fu lly funded 63,000m infill, step out and exploration drilling program is well
advanced, with 19,000m of drilling and 11,000m of trenching scheduled to be completed in 202 4. Bravo’s current
Environmental, Social and Governance activities includes replanting 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.
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For further information about Bravo, please visit www.bravomining.com or contact:
Alex Penha
EVP Corporate Development
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 “advance”, “define”, “effective”, “expand”, “expect”, “future results”,
“continue”, “objective”, “optimize”, “plan”, “potential”, “proven”, “successful”, “target”, “interpretation”, “upgrade”,
variants of these words and other similar words, phrases, or statements that certain events or conditions “may”,
“should” or “will” occur. This news release contains forward -looking information pertaining to the results of the
ongoing trenching and drilling programs; the interpretation of the results of the drill and trench data, including that
the saprolite mineralization is locally supergene enriched, and the impact on future mineral resource estimates
thereof; the potential that similar supergene enrichment may be present along the entire strike length of the Luanga
deposit and the impact on mineral resourc e estimates thereafter; the potential for downdip extensions to the
mineralization and the impact on future MREs; the potential future economics of the oxide and sulphide
mineralization, including the recoverability of PGMs and Au therein; the results of planned additional drilling and
trenching; the results and implications of planned metallurgical testing, including downstream progressing and
carbon capture; the progress, timing and outcomes of permitting processes; 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 , metallurgical testing, permitting , 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 th e
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
results from trenching reason ably reflect consistent zones of oxide mineralization and that future results from
additional trenching will continue to see similar broad distribution of oxides with higher grades that the current MRE;
that activities will not be adversely disrupted or im peded 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.