Bravo Intersects Exceptional Thickness of High-Grade PGMs at Luanga
NEWS RELEASE
02 November 2022
1 | P a g e
Bravo Intersects Exceptional Thickness of High-Grade PGMs at Luanga
Highlights include 58.8m @ 2.11g/t PGM+Au, and 19.8m @ 2.68g/t PGM+Au
VANCOUVER, November 02, 2022 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the
“Company”) today announced that it has received assay results from an additional nine infill diamond drill holes
(“DDH”) from its Luanga palladium + platinum + rhodium + gold + nickel ( 3PGM+Au+Ni) project (“ Luanga” or
“Luanga PGM+Au+Ni”), located in the Carajás Mineral Province, state of Pará, Brazil.
“Drill hole DDH22LU029, which intersected 58.8m @ 2.11g/t 3PGM+Au from 9.7m, is one of the broadest zones of
3PGM+Au mineralization intersected at Luanga to date. This drill hole also demonstrates that multiple stacked
3PGM+Au+Ni zones exist stratigraphically above (see section attached) and below the previously defined
mineralized horizons. This increases our confidence in both the overall 3PGM+Au+Ni potential of Luanga, and the
potential for higher-grade nickel sulphide mineralization given the 39.4m @ 0.16% Ni intersected from 29.1m,”
said Luis Azevedo, Chairman and CEO of Bravo. “ Furthermore, DDH22LU029 intersect ed a zone of nickel-rich
disseminated sulphides below the main mineralized horizons (see section attached) , yet still within the same
orthopyroxenite host stratigraphy, again opening the possibility for new as yet unseen styles of nickel sulphide
mineralization at depth.”
Highlights
▪ The infill drilling campaign continues to advance rapidly, while results compare well with , or exceed , the
intercepts in historic drill holes on nearby drill sections, in both tenor and mineralized thicknesses.
▪ Highlights of Bravo’s recent intercepts are tabulated below, with details attached:
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
DDH22LU029 9.7 68.5 58.8 1.33 0.64 0.09 0.06 2.11 NA Ox/FR
Including 29.1 68.5 39.4 1.12 0.48 0.07 0.07 1.74 0.16 FR
And 108.4 117.1 8.7 2.12 1.70 0.24* 0.03 4.09* 0.05 FR
And 158.5 165.0 6.5 0.33 0.14 0.01 0.01 0.50 0.43 FR
DDH22LU016 55.5 75.3 19.8 0.48 1.94 0.26 0.01 2.68 0.06 FR/LS
DDH22LU022 81.2 101.0 19.8 1.27 0.77 0.12 0.05 2.21 0.23 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 80% to 90% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
* = Includes Rh >1.00g/t result. Overlimit analyses pending.
▪ In addition, t wo diamond drill holes were completed on two drill sections, 50m north and south of
DDH22LU047, the hole that intercepted massive sulphides (see August 16th, 2022 news release). All four step
out drill holes have intersected varying amounts of semi-massive sulphides. Assay results are pending.
▪ Downhole Electromagnetic surveys (“EM”) on these 4 drill holes , and surface fixed loop EM over the Luanga
deposit, have commenced.
▪ 102 drill holes have been completed , for a total of 17,337 metres (or 68% of Phase 1 Drilling Program) ,
including 6 twin holes and 6 metallurgical holes.
▪ 17,689 samples submitted for assay to date including 3,216 re-assay samples from historic drill core.
▪ 6 drill rigs operating onsite.
NEWS RELEASE
02 November 2022
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Luanga Drill Program
The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are on site, with drilling
progressing in various locations along the entire 8.1km strike length of the known Luanga mineralized envelope.
To date, 102 drill holes have been completed, for a total of 17,337 metres (or 68%) of the planned 25,500 metre
Phase 1 drill program.
Location of Bravo Drilling Reported in this Document
NEWS RELEASE
02 November 2022
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Section – Showing DDH22LU029 Stacked 3PGM+Au+Ni Zones, and New Nickel Zone at Depth
Complete Table of Intercepts
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
3PGM +
Au (g/t)
Ni (%
Sulphide) TYPE
DDH22LU016 55.5 75.3 19.8 0.48 1.94 0.26 0.01 2.68 0.06 FR/LS
DDH22LU021 8.0 13,0 5.0 0.29 0.24 <0.01 0.01 0.54 NA Ox
DDH22LU022 81.2 101.0 19.8 1.27 0.77 0.12 0.05 2.21 0.23 FR
DDH22LU023 0.0 7.0 7.0 0.38 0.30 <0.01 0.03 0.62 NA Ox
DDH22LU024 66.6 76.0 9.4 0.77 0.29 0.12 0.05 1.24 0.22 FR
DDH22LU025 28.5 37.5 9.0 0.85 0.55 0.15 0.02 1.57 0.17 FR
DDH22LU027 88.1 91.1 3.0 0.42 0.27 0.03 0.01 0.73 0.01 FR
And 95.6 103.6 8.0 0.26 0.09 0.05 0.01 0.40 0.01 FR/LS
DDH22LU028 0.0 24.0 24.0 0.25 0.26 <0.01 0.01 0.52 NA FR
DDH22LU029 9.7 68.5 58.8 1.33 0.64 0.09 0.06 2.11 NA Ox/FR
Including 29.1 68.5 39.4 1.12 0.48 0.07 0.07 1.74 0.16 FR
And 108.4 117.1 8.7 2.12 1.70 0.24* 0.03 4.09* 0.05 FR
And 158.5 165.0 6.5 0.33 0.14 0.01 0.01 0.50 0.43 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercept is estimated to be 80% to 90% of true thickness.
Type: Ox = Oxide. LS = Low Sulphur. FR + Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
NA: Not Applicable as intercept is oxide or a mix of oxide and fresh rock mineralization.
* = Includes Rh >1.00g/t result. Overlimit analyses pending.
NEWS RELEASE
02 November 2022
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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 3PGM + 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
02 November 2022
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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 “Exceptional”, “High-Grade”, “Highlights”, “broadest”, “multiple”,
“confidence”, “potential”, “ rich”, “possibility”, “as yet unseen”, “continues”, “compare well”, “exceed”,
“highlights”, and other similar words, phrases or statements that certain events or conditions “should”, or “will”
occur. In particular, this news release contains forward-looking information pertaining to the Company’s ongoing
re-assay and drill programs and the results thereof; the expected completion of geophysical surveys and the results
of such surveys; the potential for the definition o new styles of mineralization and exten sions to 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, changes in the state of equity and debt markets, fluctuations
in commodity prices, delays in obt aining 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 the interpreted mineralization contains significant values of nickel, copper and also
contain PGMs and Au; 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 use d 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
02 November 2022
6 | P a g e
Schedule 1: Drill Hole Collar Details
HOLE-ID Company East (m) North (m) RL (m) Datum Depth
(m) Azimuth Dip
DDH22LU016 Bravo 659067.99 9341140.05 231.20 SIRGAS2000 UTM22S 199.05 90.00 -60.00
DDH22LU021 Bravo 660000.70 9341825.04 256.77 SIRGAS2000 UTM22S 250.00 90.00 -60.00
DDH22LU022 Bravo 659195.85 9341118.15 227.84 SIRGAS2000 UTM22S 150.30 330.00 -60.00
DDH22LU023 Bravo 660000.02 9341721.99 241.36 SIRGAS2000 UTM22S 250.05 90.00 -60.00
DDH22LU024 Bravo 657100.06 9339629.97 259.19 SIRGAS2000 UTM22S 170.00 360.00 -60.00
DDH22LU025 Bravo 659158.01 9341182.98 225.69 SIRGAS2000 UTM22S 150.35 330.00 -60.00
DDH22LU027 Bravo 659245.18 9341231.67 229.00 SIRGAS2000 UTM22S 150.35 330.00 -60.00
DDH22LU028 Bravo 657000.01 9339729.10 296.06 SIRGAS2000 UTM22S 170.40 360.00 -60.00
DDH22LU029 Bravo 659836.03 9341725.05 243.28 SIRGAS2000 UTM22S 183.75 90.00 -60.00
Schedule 2: Assay Methodologies and QAQC
Samples follow a chain of custody between collection, processing and delivery to the ALS 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 inse rt 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 Parauap ebas ALS laboratory by Bravo staff. Additional
information about the methodology can be found on the ALS global website (ALS) in the analytical guides.
Quality Assurance and Quality Control (“ QAQC”) is maintained internally at the lab through rigorous use of
internal certified reference materials, blanks, and duplic ates. 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 res ults is triggered and
when deemed necessary, the samples that were tested in the batch with the failed QAQC sample are re-tested.
Bravo ALS
Preparation Method Method Method Method
For All Elements Pt, Pd, Au Rh Ni-Sulphide Trace Elements
PREP-31B PGM-ICP27 Rh-MS25 Ni-ICP05 ME-ICP61