Bravo Extends PGM+Au+Ni Mineralization to Depth & Intercepts More Massive Sulphide Nickel Highlights include 3.2m at 2.86g/t PGM+Au, 1.81% Ni, and 0.18% Cu from 59.1m; 43m at 2.34g/t PGM+Au, 0.29% Ni from 246.8m, and 11m at 5.02g/t PGM+Au, 0.27% Ni from 271.4m
NEWS RELEASE
11 July 2023
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Bravo Extends PGM+Au+Ni Mineralization to Depth & Intercepts More
Massive Sulphide Nickel
Highlights include 3.2m at 2.86g/t PGM+Au, 1.81% Ni, and 0.18% Cu from 59.1m; 43m at 2.34g/t
PGM+Au, 0.29% Ni from 246.8m, and 11m at 5.02g/t PGM+Au, 0.27% Ni from 271.4m
VANCOUVER, July 11, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “ Company”)
announced that it has received assay results from twenty-one diamond drill holes (“DDH ”) from the Southwest,
Central and North Sectors at 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. Results include the
initial eight DDH from Phase 2 Program that is successfully targeting potential extensions to mineralization down to
approximately 300m below surface, which is twice as deep as Bravo drilled in its Phase 1 Program.
“The Phase 2 drill program is progressing as planned with initial results indicating PGM+Au+Ni mineralization is
present as expected from ~150m to ~ 300m below surface (see Figures 3 and 4) with comparable thicknesses and
grades to those intercepted at shallower depths tested during our Phase 1 Program ,” said Luis Azevedo, Chairman
and CEO of Bravo. “Drill hole DDH23LU184 has intercepted additional evidence of magmatic nickel sulphide
mineralization in the Southwest Sector, further supporting the potential for nickel sulphides at depth at Luanga. We
continue to be encouraged with such results , particularly as we await the final data interpretation of the recently
completed HeliTEM survey, where preliminarily data interpretation suggests promising anomalies are present.”
Highlights Include:
▪ DDH23LU184 returned further evidence of massive sulphide nickel in the Southwest Sector (Figure 1).
▪ First results from d eeper drilling ( Phase 2 Program) in the Central Sector have successfully identified
mineralization to depths of up to ~300m below surface (Figures 3 and 4) with similar thicknesses and grades
(PGM+Au and Ni Sulphide) as those in shallower Bravo drilling on the same sections.
▪ HeliTEM (airborne electromagnetics) was completed over the entire (7.810ha) Luanga project . Preliminary
data shows that promising anomalies are present. Final data (expected soon) will enable full interpretation.
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* (%) TYPE Sector
DDH23LU152 94.8 96.2 1.4 0.22 0.04 0.00 0.02 0.28 1.20 FR
Central Including 95.5 96.2 0.7 0.30 0.06 0.00 0.02 0.39 1.92 FR
And 140.0 152.0 12.0 0.81 0.54 0.07 0.05 1.46 0.15 FR
DDH23LU154 45.9 90.9 45.0 0.50 0.41 0.03 0.02 0.96 0.16 FR Central
DDH23LU155 256.9 263.6 6.7 1.06 0.28 0.02 0.01 1.37 0.26 FR North Including 258.7 259.5 0.9 3.28 0.46 0.01 0.01 3.76 1.15 FR
DDH23LU156 119.0 138.0 19.0 0.77 0.49 0.07 0.02 1.35 0.16 FR Central
DDH23LU157 5.6 18.4 12.8 0.79 0.38 0.03 0.21 1.42 NA Ox Central
DDH23LU158 165.2 174.2 9.0 1.76 1.68 0.03 0.03 3.49 0.08 FR North
DDH23LU162 246.8 289.8 43.0 1.70 0.52 0.08 0.05 2.34 0.29 FR Southwest
DDH23LU165 196.3 206.3 10.0 1.17 0.44 0.02 0.22 1.84 0.26 FR Central
DDH23LU166 271.4 282.4 11.0 2.92 1.47 0.22 0.42 5.02 0.27 FR Central
DDH23LU167 209.7 251.7 42.0 0.77 0.24 0.04 0.01 1.05 0.16 FR Central
DDH23LU168 260.7 275.0 14.3 2.12 0.96 0.15 0.05 3.28 0.13 FR Central
DDH23LU169 162.7 181.7 19.0 1.07 0.54 0.06 0.03 1.70 0.13 FR Central
DDH23LU170 249.0 288.0 39.0 0.60 0.34 0.05 0.02 1.01 0.10 FR Central
DDH23LU184 59.1 62.3 3.2 1.54 0.55 0.59 0.19 2.86 1.81 FR Southwest
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given the orientation of the hole and the mineralization, the intercepts are estimated to 110% to 120% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = 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 historical total nickel assays.
NEWS RELEASE
11 July 2023
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Luanga Drilling Update
Results from a further twenty-one diamond drill holes have been received, including the first eight drill holes from
the Phase 2 Program targeting potential extensions of PGM+Au+Ni mineralization down to approximately 300m
below surface, or twice as deep as Bravo drilled in Phase 1 . Results from five drill holes are from the Southwest
Sector, eleven from the Central Sector, and five from the North Sector are reported in this news release . Results
confirm that mineralization extends to depth at similar thicknesses and grades to intercepts in historic drilling on
nearby drill sections, and in Bravo’s Phase 1 drill program.
In the Southwest Sector, another zone of magmatic nickel sulphide mineralization has been intersected, with 3.2m
of massive a nd semi -massive sulphides intercepted in DDH23LU184 (Figure 1) , providing further evidence of
magmatic nickel sulphides in the Southwest Sector. Assay results also show consistency with historical results for
PGMs compared with intercepts in historic drilling on neighbouring drill sections.
Figure 1: Core Photos (DDH23LU184) showing further evidence of magmatic nickel sulphide mineralization in the Southwest Sector.
Section 1 (Figure 3) in the Central Zone shows increasing nickel values at depth, continuing to broadly support an
enrichment in disseminated magmatic nickel sulphide throughout the Central Sector (Figure 2) compared to the
North and Southwest Sectors. Completed drill holes , which are awaiting assay results, are highlighted on Figure 4,
demonstrating the pattern of Phase 2 step out drilling. Section 1 drill-hole DDH23LU162 and Section 2 drill -hole
DDH23LU170 have both now defined mineralization to depths of approximately 250 metres below surface.
A total of 1 97 drill holes (62 in 2023) have been completed by Bravo to date, for 3 7,645 metres, including all 8
planned twin holes and all 8 metallurgical holes (not subject to routine assaying).
Results have been reported for 1 69 Bravo drill holes to date. Results for 20 Bravo drill holes are currently
outstanding (excluding the metallurgical holes). Completed drill holes with results pending are highlighted on Figure
4.
NEWS RELEASE
11 July 2023
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Figure 2: Central Sector (~2km strike) plan showing excellent results at depth, including consistently higher nickel assay results.
Figure 3: Central Sector (Section 1 on Figure 4) – Continuation of mineralization to depth, now defined to ~300m below surface.
NEWS RELEASE
11 July 2023
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Figure 4: Central Sector (Section 2 on Figure 4) – Continuation of mineralization to depth, now defined to ~300m below surface.
NEWS RELEASE
11 July 2023
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Complete Table of Recent Intercepts.
HOLE-ID From To Thickness
(m)
Pd Pt Rh Au PGM + Au Ni* (%)
Sulphide
Cu (%)
Sulphide TYPE (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t)
DDH23LU139 123.9 124.9 1.0 0.88 0.29 0.00 0.11 1.28 0.10 FR
And 168.9 170.9 2.0 0.46 0.16 0.00 0.09 0.72 0.14 FR
And 185.3 187.3 2.0 0.27 0.15 0.00 0.04 0.47 0.10 FR
And 193.3 194.3 1.0 0.58 0.24 0.00 0.17 0.99 0.17 FR
And 216.8 220.8 4.0 0.57 0.21 0.00 0.08 0.86 0.18 FR
And 236.8 239.8 3.0 0.21 0.08 0.00 0.06 0.35 0.09 FR
And 253.9 257.5 3.6 0.84 0.28 0.03 0.12 1.28 0.24 FR
And 288.0 290.0 2.0 0.23 0.08 0.08 0.00 0.39 0.26 FR
And 301.3 302.3 1.0 1.90 0.40 0.15 0.01 2.47 0.76 FR
And 319.0 325.0 6.0 0.44 0.18 0.05 0.01 0.68 0.20 FR
DDH23LU150 0.0 2.0 2.0 0.23 0.09 0.00 0.03 0.34 NA Ox
And 32.0 38.0 6.0 0.25 0.10 0.01 0.01 0.38 0.31 FR
And 44.0 46.0 2.0 0.33 0.13 0.00 0.02 0.48 0.12 FR
And 63.9 68.9 5.0 0.23 0.09 0.01 0.02 0.35 0.12 FR
And 79.9 82.0 2.1 0.38 0.18 0.01 0.01 0.58 0.07 FR
And 84.0 87.0 3.0 0.49 0.28 0.01 0.01 0.79 0.08 FR
Including 84.0 85.0 1.0 0.75 0.37 0.00 0.02 1.14 0.08 FR
And 93.0 98.1 5.1 0.39 0.27 0.03 0.01 0.71 0.03 FR
Including 94.0 95.0 1.0 1.34 0.63 0.10 0.04 2.10 0.12 FR
DDH23LU151 0.0 5.2 5.2 0.23 0.12 0.00 0.02 0.38 NA Ox
And 20.7 22.7 2.0 0.58 0.20 0.00 0.02 0.81 0.30 FR
And 58.6 60.6 2.0 6.52 3.45 0.48 0.09 10.54 0.06 FR
Including 58.6 59.6 1.0 8.62 4.59 0.57 0.14 13.93 0.06 FR
And 64.6 66.6 2.0 0.40 0.20 0.01 0.00 0.61 0.06 FR
DDH23LU152 94.8 96.2 1.4 0.22 0.04 0.00 0.02 0.28 1.20 FR
Including 95.5 96.2 0.7 0.30 0.06 0.00 0.02 0.39 1.92 FR
And 104.2 106.2 2.0 0.36 0.22 0.00 0.02 0.60 0.17 FR
And 114.2 116.2 2.0 0.28 0.16 0.00 0.05 0.49 0.15 FR
And 118.2 125.2 7.0 0.24 0.15 0.02 0.03 0.44 0.12 FR
And 131.0 138.0 7.0 0.56 0.34 0.03 0.21 1.13 0.16 FR
And 140.0 152.0 12.0 0.81 0.54 0.07 0.05 1.46 0.15 FR
Including 145.0 146.0 1.0 2.37 1.62 0.35 0.09 4.43 0.29 FR
And 157.0 161.0 4.0 0.26 0.13 0.01 0.01 0.41 0.06 FR
DDH23LU153 47.3 52.3 5.0 0.14 0.36 0.00 0.01 0.52 0.22 FR
And 100.3 107.3 7.0 0.19 0.14 0.02 0.01 0.36 0.03 FR
DDH23LU154 0.0 2.7 2.7 0.26 0.14 0.01 0.04 0.44 NA Ox
And 21.2 23.2 2.0 0.28 0.59 0.00 0.08 0.94 0.20 FR
And 45.9 90.9 45.0 0.50 0.41 0.03 0.02 0.96 0.16 FR
Including 65.9 76.9 11.0 0.75 0.52 0.06 0.01 1.34 0.27 FR
And 95.9 115.9 20.0 0.29 0.42 0.05 0.01 0.77 0.02 FR
Including 106.9 107.9 1.0 1.66 4.53 0.61 0.03 6.84 0.02 FR
DDH23LU155 0.0 7.0 7.0 0.15 0.15 0.01 0.00 0.32 NA Ox
And 155.5 160.5 5.0 0.19 0.16 0.02 0.00 0.38 0.03 FR
And 172.5 177.5 5.0 0.16 0.12 0.02 0.00 0.30 0.14 FR
NEWS RELEASE
11 July 2023
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HOLE-ID From To Thickness
(m)
Pd Pt Rh Au PGM + Au Ni* (%)
Sulphide
Cu (%)
Sulphide TYPE (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t)
And 182.5 183.5 1.0 0.88 0.17 0.04 0.04 1.12 0.08 FR
And 193.5 196.5 3.0 0.33 0.13 0.02 0.02 0.49 0.16 FR
And 209.0 209.8 0.9 0.68 0.09 0.09 0.02 0.88 0.67 FR
And 217.8 228.8 11.0 0.39 0.11 0.02 0.01 0.54 0.10 FR
And 236.8 240.8 4.0 0.35 0.09 0.01 0.00 0.46 0.12 FR
And 244.8 248.8 4.0 0.71 0.22 0.06 0.00 0.99 0.10 FR
And 251.8 254.8 3.0 0.22 0.22 0.01 0.00 0.46 0.06 FR
And 256.9 263.6 6.7 1.06 0.28 0.02 0.01 1.37 0.26 FR
Including 258.7 259.5 0.9 3.28 0.46 0.01 0.01 3.76 1.15 FR
And 267.6 270.4 2.7 0.29 0.15 0.01 0.09 0.54 0.05 FR
DDH23LU156 40.2 42.2 2.0 0.22 0.09 0.01 0.01 0.33 0.19 Ox/LS
And 75.0 77.0 2.0 0.19 0.11 0.01 0.10 0.41 0.05 FR
And 92.5 98.0 5.6 0.22 0.13 0.00 0.05 0.40 0.06 FR
And 113.0 119.0 6.0 0.31 0.19 0.01 0.01 0.53 0.13 FR
And 119.0 138.0 19.0 0.77 0.49 0.07 0.02 1.35 0.16 FR
And 142.0 154.0 12.0 0.41 0.22 0.01 0.02 0.66 0.04 FR
Including 143.0 145.0 2.0 0.64 0.29 0.02 0.11 1.05 0.09 FR
DDH23LU157 0.0 2.6 2.6 0.43 0.26 0.01 0.06 0.76 NA Ox
And 5.6 18.4 12.8 0.79 0.38 0.03 0.21 1.42 NA Ox
And 27.4 40.0 12.6 0.37 0.24 0.01 0.02 0.64 0.04 Ox/LS
And 42.0 53.0 11.0 0.66 0.34 0.04 0.01 1.06 0.04 FR
And 64.0 66.7 2.7 0.10 0.32 0.07 0.00 0.49 0.01 FR
DDH23LU158 97.2 101.2 4.0 0.44 0.39 0.00 0.01 0.84 0.05 FR
And 110.2 113.2 3.0 1.54 1.35 0.11 0.01 3.01 0.11 FR
And 118.2 121.2 3.0 0.27 0.13 0.01 0.05 0.46 0.11 FR
And 165.2 174.2 9.0 1.76 1.68 0.03 0.03 3.49 0.08 FR
Including 167.2 169.2 2.0 4.42 5.23 0.03 0.06 9.75 0.18 FR
And 201.6 204.4 2.9 0.86 0.35 0.01 0.02 1.24 0.39 FR
DDH23LU159 66.8 68.8 2.0 0.29 0.33 0.04 0.00 0.67 0.04 FR
And 106.5 115.2 8.7 0.08 0.07 0.01 0.14 0.31 0.10 FR
And 204.4 209.3 4.8 0.26 0.19 0.01 0.00 0.46 0.18 FR
Including 204.4 205.3 0.9 0.85 0.20 0.06 0.01 1.12 0.56 FR
DDH23LU160 15.8 22.8 7.0 0.49 0.15 0.14 0.05 0.83 NA Ox
Including 15.8 17.8 2.0 0.92 0.26 0.26 0.08 1.53 NA Ox
And 60.3 65.4 5.1 0.76 0.33 0.01 0.09 1.18 0.05 FR
DDH23LU161 0.0 3.5 3.5 0.25 0.34 0.03 0.03 0.64 NA Ox
And 33.5 34.4 0.9 0.79 0.64 0.11 0.01 1.55 NA Ox/LS
And 86.1 94.1 8.0 0.29 0.23 0.02 0.01 0.55 0.15 FR
And 103.1 112.1 9.0 0.65 0.69 0.12 0.01 1.46 0.09 FR
And 120.1 132.4 12.3 0.33 0.25 0.03 0.01 0.62 0.05 FR
Including 121.1 125.1 4.0 0.58 0.45 0.06 0.03 1.12 0.04 FR
And 137.0 138.0 1.1 1.15 3.00 0.07 0.02 4.24 0.54 FR
DDH23LU162 111.1 115.0 3.9 0.84 0.36 0.05 0.21 1.45 0.22 FR
And 197.9 199.9 2.0 0.63 0.19 0.04 0.07 0.93 0.21 FR
And 213.9 215.9 2.0 0.47 0.14 0.08 0.10 0.78 0.23 FR
And 221.9 222.8 1.0 1.40 0.25 0.08 0.17 1.89 0.29 FR
NEWS RELEASE
11 July 2023
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HOLE-ID From To Thickness
(m)
Pd Pt Rh Au PGM + Au Ni* (%)
Sulphide
Cu (%)
Sulphide TYPE (m) (m) (g/t) (g/t) (g/t) (g/t) (g/t)
And 225.8 229.8 4.0 0.24 0.07 0.01 0.03 0.35 0.11 FR
And 246.8 289.8 43.0 1.70 0.52 0.08 0.05 2.34 0.29 FR
Including 270.8 274.8 4.0 2.41 0.71 0.13 0.14 3.40 0.44 FR
And 293.8 322.8 29.0 0.36 0.26 0.00 0.01 0.63 0.02 FR
DDH23LU165 99.4 100.4 1.0 5.87 2.50 0.08 0.14 8.59 0.77 FR
And 183.4 184.4 1.0 1.03 0.58 0.01 0.02 1.65 0.09 FR
And 196.3 206.3 10.0 1.17 0.44 0.02 0.22 1.84 0.26 FR
Including 200.4 204.6 4.2 1.77 0.70 0.02 0.39 2.87 0.29 FR
And 208.5 212.7 4.2 0.32 0.16 0.00 0.09 0.57 0.06 FR
And 315.6 317.6 2.0 0.20 0.13 0.00 0.00 0.33 0.03 FR
DDH23LU166 92.0 93.0 1.0 1.12 0.45 0.00 0.43 2.00 0.13 FR
And 160.5 165.5 5.0 2.53 0.70 0.14 0.09 3.45 0.19 FR
Including 160.5 161.5 1.0 7.75 1.90 0.67 0.14 10.46 0.14 FR
And 172.5 173.5 1.0 0.86 0.31 0.00 0.03 1.20 0.13 FR
And 267.4 270.4 3.0 0.41 0.24 0.01 0.10 0.77 0.09 FR
And 271.4 282.4 11.0 2.92 1.47 0.22 0.42 5.02 0.27 FR
Including 277.4 281.4 4.0 4.31 2.17 0.31 0.42 7.21 0.36 FR
And 285.4 286.4 1.0 1.18 0.67 0.07 0.03 1.96 0.05 FR
DDH23LU167 41.6 44.8 3.2 0.20 0.07 0.00 0.05 0.32 0.06 FR
And 209.7 251.7 42.0 0.77 0.24 0.04 0.01 1.05 0.16 FR
Including 249.7 251.7 2.0 2.27 0.64 0.13 0.02 3.06 0.17 FR
And 265.7 277.7 12.0 0.12 0.21 0.00 0.00 0.33 0.01 FR
DDH23LU168 77.6 78.6 1.0 0.61 0.50 0.00 0.12 1.23 0.08 FR
And 155.3 158.3 3.0 0.78 0.39 0.00 0.15 1.33 0.16 FR
And 253.7 254.7 1.0 2.44 0.19 0.13 0.12 2.87 0.20 FR
And 260.7 275.0 14.3 2.12 0.96 0.15 0.05 3.28 0.13 FR
Including 270.9 274.0 3.1 4.89 2.15 0.33 0.05 7.43 0.17 FR
DDH23LU169 26.0 34.1 8.1 0.28 0.12 0.00 0.06 0.46 NA Ox/LS
And 38.0 42.0 4.0 0.38 0.15 0.02 0.07 0.61 0.13 FR
And 145.7 150.7 5.0 0.21 0.12 0.00 0.01 0.35 0.17 FR
And 158.7 160.7 2.0 0.26 0.17 0.01 0.02 0.47 0.05 FR
And 162.7 181.7 19.0 1.07 0.54 0.06 0.03 1.70 0.13 FR
And 189.7 198.7 9.0 0.92 0.37 0.07 0.02 1.37 0.06 FR
And 224.7 227.7 3.0 0.19 0.46 0.00 0.01 0.65 0.01 FR
DDH23LU170 116.4 119.4 3.0 0.43 0.17 0.00 0.09 0.69 0.02 FR
And 190.6 192.6 2.0 0.69 0.36 0.04 0.15 1.24 0.13 FR
And 220.0 232.0 12.0 0.20 0.10 0.01 0.10 0.41 0.09 FR
And 240.0 244.0 4.0 0.20 0.09 0.00 0.01 0.31 0.20 FR
And 249.0 288.0 39.0 0.60 0.34 0.05 0.02 1.01 0.10 FR
Including 254.0 255.0 1.0 3.25 1.84 0.31 0.08 5.48 0.20 FR
And 290.0 294.0 4.0 0.16 0.14 0.02 0.04 0.37 0.03 FR
DDH23LU184 59.1 62.3 3.2 1.54 0.55 0.59 0.19 2.86 1.81 0.18 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material.
Given the orientation of the hole and the mineralization, the intercepts are estimated to 110% to 120% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = 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 historical total nickel assays
NEWS RELEASE
11 July 2023
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Figure 4: Location of Bravo Drilling and Sections Reported in this News Release