Bravo Intercepts First Evidence of Massive Sulphide Nickel in the Southwest Sector and Continuation of Mineralization at Depth at the Central Sector of Luanga Highlights include 45.2m at 1.89g/t PGM+Au, 0.20% Ni; 50.0m at 1.79g/t PGM+Au;
NEWS RELEASE
13 June 2023
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Bravo Intercepts First Evidence of Massive Sulphide Nickel in the Southwest Sector and
Continuation of Mineralization at Depth at the Central Sector of Luanga
Highlights include 45.2m at 1.89g/t PGM+Au, 0.20% Ni; 50.0m at 1.79g/t PGM+Au;
And 1.0m at 1.51% Ni
VANCOUVER, June 13, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “ Company”)
announced that it has received assay results from a further ten infill diamond drill holes (“DDH”) from 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.
“Recent drilling in the Southwest Sector (DDH23LU142) has intercepted the first evidence of magmatic nickel sulphide
mineralization outside that previously intersected in the North Sector (August 16th, 2022 news release). This indicates
the potential for nickel su lphides at depth along the entire 8.1km strike of the Luanga project. Coupled with the
continuing evidence of elevated levels of disseminated nickel sulphides throughout the Central Sector , a HeliTEM
survey across the entire Luanga land package has begun, designed to find indications of massive sulphides targets,”
said Luis Azevedo, Chairman and CEO of Bravo . “The Phase 2 drill program is progressing as planned, with drilling
completed to date (assays pending) shown in Figure 4 for reference. This shows where drill coverage is heading and
where future results will come from as we begin to explore the next 150 m interval of mineralization vertically below
the top 150m defined by historical work and Bravo’s Phase 1 program.”
Highlights Include:
▪ DDH23LU142 intersected the first evidence of magmatic nickel sulphide mineralization in the in the Southwest
Sector (Figure 1).
▪ Drilling in the Central Sector continues to intercept magmatic nickel sulphides at depth, where results from
Bravo’s drilling outperform historical shallower drill results.
▪ Assay results continue to compare well with that of historic drilling on nearby drill sections, both in tenor and
mineralized thickness.
▪ Deeper drilling ( Phase 2 program ) commenced in the Central Sector, systematically stepping back and
extending drill coverage at depth on each section.
▪ HeliTEM (airborne electromagnetics) over the entire area (7.810ha) of the Luanga project has begun.
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
DDH22LU142 0.0 50.0 50.0 1.13 0.50 0.05 0.12 1.79 NA Ox Southwest
And 157.0 158.0 1.0 0.02 0.02 0.01 0.01 0.04 1.51 FR Southwest
DDH22LU143 100.2 107.2 7.0 2.31 1.10 0.02 0.03 3.46 0.05 FR Central
DDH22LU145 102.1 116.3 14.2 1.04 0.59 0.08 0.02 1.72 0.06 FR Southwest
DDH22LU146 231.6 244.0 12.4 1.05 0.65 0.08 0.12 1.90 0.16 FR Central
DDH22LU147 66.3 99.3 33.0 0.88 0.41 0.05 0.03 1.36 0.08 FR Southwest
DDH22LU148 169.3 214.5 45.2 1.11 0.59 0.09 0.10 1.89 0.20 FR Central
DDH22LU149 84.7 103.7 19.0 1.34 0.65 0.08 0.05 2.12 0.15 FR Southwest
Including 91.7 97.7 6.0 2.41 1.24 0.16 0.09 3.91 0.17 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 130% 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
13 June 2023
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Luanga Drilling Update
Results from a further 10 diamond drill holes have been received, six from the Southwest Sector and four from the
Central Sector. Results continue to compare well with intercepts in historic drilling on nearby drill sections.
In the Southwest Sector (Figure 1), a 10-15cm zone of magmatic nickel sulphide mineralization was intersected,
providing the first evidence of massive 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 (DDH23LU142) showing first evidence of magmatic nickel sulphide mineralization in the Southwest Sector.
Elevated nickel values continue to be a feature of the Central Sector, broadly showing an enrichment in disseminated
magmatic nickel sulphide throughout the Central Sector (Figure 2) compared to the North and Southwest Sectors.
Drilling in the Central Sector continues to show mineralization dominated by one particularly thick continuous zone
of mineralization (Figure 3 – Section 1), extending for kilometres of strike in the Central Sector.
The Phase 2 program, focused on extending drill coverage at depth beyond the coverage of historic al drilling, is
progressing well. Completed drill holes which are pending assay results are highlighted on Figure 4, demonstrating
the pattern of step out drilling on each section through this Sector. Section 1 shows th e beginnings of the Phase 2
extensional drilling, in this case extending depth coverage on this section to >250m from surface.
A total of 182 drill holes (47 in 2023) have been completed by Bravo to date, for 34,149 metres, including all 8
planned twin holes and all 8 metallurgical holes (not subject to routine assaying).
Results have been reported for 148 Bravo drill holes to date. Results for 26 Bravo drill holes are currently
outstanding (excluding the metallurgical holes) . As evidenced by the constantly decreasing number of holes
outstanding at the laboratory, optimization of our assay process is having a positive impact on turnaround times as
compared to 2022.
Completed drill holes with results pending are highlighted on Figure 4.
NEWS RELEASE
13 June 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 at depth, with relatively higher nickel assay results.
NEWS RELEASE
13 June 2023
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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* (%) TYPE
DDH22LU140 55.9 65.9 10.0 0.28 0.10 0.02 0.04 0.44 0.18 FR
And 72.2 79.2 7.0 0.19 0.08 0.02 0.17 0.46 0.16 FR
And 100.2 103.2 3.0 0.32 0.12 0.08 0.01 0.53 0.24 FR
And 113.2 125.8 12.6 0.57 0.21 0.09 0.07 0.95 0.22 FR
DDH22LU141 92.3 94.3 2.0 0.63 0.17 0.00 0.01 0.82 0.01 FR
DDH22LU142 0.0 50.0 50.0 1.13 0.50 0.05 0.12 1.79 NA Ox
And 75.0 78.0 3.0 0.36 0.24 0.02 0.02 0.63 0.06 FR
And 101.0 108.0 7.0 0.17 0.40 0.05 0.00 0.61 0.01 FR
And 157.0 158.0 1.0 0.02 0.02 0.01 0.01 0.04 1.51 FR
DDH22LU143 59.3 69.8 10.5 0.63 0.24 0.02 0.01 0.90 0.14 FR
And 100.2 107.2 7.0 2.31 1.10 0.02 0.03 3.46 0.05 FR
DDH22LU144 23.6 34.6 11.0 0.33 0.14 0.00 0.03 0.50 0.12 FR
And 45.6 49.6 4.0 0.15 0.07 0.01 0.02 0.24 0.33 FR
And 79.7 105.7 26.0 0.66 0.30 0.05 0.10 1.11 0.17 FR
And 121.7 125.7 4.0 1.39 0.72 0.09 0.11 2.31 0.16 FR
And 135.7 136.7 1.0 1.23 5.24 1.54 0.05 8.17 0.03 FR/LS
DDH22LU145 102.1 116.3 14.2 1.04 0.59 0.08 0.02 1.72 0.06 FR
DDH22LU146 196.6 198.6 2.0 0.67 0.35 0.03 0.03 1.08 0.22 FR
And 231.6 244.0 12.4 1.05 0.65 0.08 0.12 1.90 0.16 FR
And 258.2 260.2 2.0 0.38 0.24 0.01 0.01 0.63 0.09 FR
DDH22LU147 14.8 19.9 5.1 0.28 0.12 0.01 0.03 0.44 0.12 FR
And 66.3 99.3 33.0 0.88 0.41 0.05 0.03 1.36 0.08 FR
DDH22LU148 111.9 113.9 2.0 0.27 0.10 0.22 0.02 0.61 0.33 FR
And 121.2 123.3 2.1 0.78 0.29 0.05 0.03 1.15 0.27 FR
And 145.3 148.3 3.0 0.81 0.46 0.06 0.06 1.40 0.23 FR
And 169.3 214.5 45.2 1.11 0.59 0.09 0.10 1.89 0.20 FR
DDH22LU149 84.7 103.7 19.0 1.34 0.65 0.08 0.05 2.12 0.15 FR
Including 91.7 97.7 6.0 2.41 1.24 0.16 0.09 3.91 0.17 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 130% 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
13 June 2023
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Figure 4: Location of Bravo Drilling and Sections Reported in this News Release
NEWS RELEASE
13 June 2023
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About Bravo Mining Corp.
Bravo is a Canada 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 benefits from being in a location close to operating mines, with excellent access and proximity to
existing infrastructure, including road, rail and clean and renewable hydro grid power. The project area was
previously de-forested for agricultural grazing land. Bravo’s current Environmental, Social and Governance activities
includes replanting 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 or contact:
Alex Penha
EVP Corporate Development
NEWS RELEASE
13 June 2023
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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 “compare well ”, “elevated”, “anticipated”, “future results”,
“continues”, 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 thereo f including the potential for additional massive Ni sulphides in the Southwest
Sector; elevated Ni sulphide grades and the interpretation of a single main mineralized zone in the Central Sector; the
comparisons to historical and prior Bravo drilling; the expected commencement of airborne geophysical surveys; the
potential for extensions to mineralization at depth; 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 Ni grades 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 wi ll 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.
NEWS RELEASE
13 June 2023
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Schedule 1: Drill Hole Collar Details
HOLE-ID Company East (m) North (m) RL (m) Datum Depth
(m) Azimuth Dip Sector
DDH23LU140 Bravo 657100.09 9339583.01 251.127 SIRGAS2000 UTM22S 190.10 360.00 -60.00 Southwest
DDH23LU141 Bravo 658199.40 9340347.34 252.431 SIRGAS2000 UTM22S 220.15 330.00 -60.00 Central
DDH23LU142 Bravo 657100.04 9339676.62 264.675 SIRGAS2000 UTM22S 170.20 360.00 -60.00 Southwest
DDH23LU143 Bravo 658147.78 9340436.49 242.302 SIRGAS2000 UTM22S 120.50 330.00 -60.00 Central
DDH23LU144 Bravo 657449.97 9339829.93 257.351 SIRGAS2000 UTM22S 150.20 360.00 -60.00 Southwest
DDH23LU145 Bravo 657649.95 9339982.09 251.758 SIRGAS2000 UTM22S 127.75 360.00 -60.00 Southwest
DDH23LU146 Bravo 659188.92 9340924.01 231.608 SIRGAS2000 UTM22S 300.45 330.00 -60.00 Central
DDH23LU147 Bravo 657450.01 9339881.44 257.354 SIRGAS2000 UTM22S 120.25 360.00 -60.00 Southwest
DDH23LU148 Bravo 659168.24 9340969.09 240.541 SIRGAS2000 UTM22S 220.15 330.00 -60.00 Central
DDH23LU149 Bravo 657800.03 9340005.07 251.063 SIRGAS2000 UTM22S 190.55 360.00 -60.00 Southwest
Schedule 2: Assay Methodologies and QAQC
Samples follow a chain of custody between collection, processing, and delivery to the SGS laboratory in Parauapebas,
state of Par á, 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. Dri ll 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 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 t he 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
PRP102_E (95% at 150#) FAI515 FAA35J ICP04B ICP40B