Bravo Intersects High-Grade IOCG-Style Massive Sulphide Copper-Gold Mineralization in Drill Testing of Luanga EM targets Highlights include 11.48m at 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu, 3.6g/t Au at T5 Target
NEWS RELEASE
28 May 2024
1 | P a g e
Bravo Intersects High-Grade IOCG-Style Massive Sulphide Copper-Gold
Mineralization in Drill Testing of Luanga EM targets
Highlights include 11.48m at 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu,
3.6g/t Au at T5 Target
• Regional exploration has drilled two new areas of sulphide mineralization (T5 and T6
Targets), east of the original Luanga PGM+Ni+Au deposit.
• T5 and T6 targets are only two of eleven priority EM anomalies hosted within the
boundaries of the Luanga tenement.
• T6 target has also intersected massive sulphides in ultramafic rock.
VANCOUVER, May 28, 2024 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) has
completed initial drill holes on the “T5” and “T6” electromagnetic (“EM”) anomalies /targets. Assays have been
received from the first drill hole (“DDH”) at target T5. Both targets are located east of the original PGM +Au+Ni
prospecting area of the 100% owned Luanga palladium + platinum + rhodium + gold + nickel deposit (“Luanga” or
“Luanga PGM+Au+Ni Project”), in the Carajás Mineral Province, state of Pará, Brazil.
“Drilling of geophysical HeliTEM targets has identified high-grade Iron Oxide Copper Gold style (“IOCG-style”)
mineralization and represents a potentially significant high-grade copper discovery. T5 is only one of eleven priority
EM anomalies hosted within the boundaries of the Luanga tenement. Moreover, at the proximal EM target (T6),
drilling has intersected similar massive sulphide mineralization (assays pending).” said Luis Azevedo, Chairman and
CEO. “We are very encouraged by the discovery of high-grade copper and shareholders should be cognisant that
Luanga is situated within the world class Carajás IOCG province, an area very fertile for high-grade copper discoveries.
These results are a credit to Bravo’s highly skilled geology team who are only now beginning to uncover the very
exciting copper potential adjacent to Luanga’s Tier 1 PGM+Au+Ni deposit.”
Highlights Include:
▪ Hole DDH2405T002 at target T5 intersected 11.48m of massive/semi -massive/breccia high-grade copper
sulphide mineralization grading 14.3% Cu, 3.3g/t Au including 2.9m at 22.9% Cu, 3.6g/t Au (Figures 1 and 2).
▪ High-grade copper in DDH2405T002 remains open at depth and along strike.
▪ Drill hole DDH2405T004 (assays pending), completed 50m to the east of DDH2405T002, also intersected 9m of
massive/semi-massive/breccia IOCG-style copper sulphide mineralization (Figure 4).
▪ Presence of copper mineralization is consistent with mineralization in the Carajás province where IOCG-style
mineralization is well established and high-grade discoveries are not unusual.
▪ Such high-grade copper mineralization is likely unrelated to the Luanga PGM+Ni+Au deposit 1km away.
▪ Drilling at T6 intersected 6m of massive/semi-massive/breccia sulphides (assays pending) , in this case
predominantly pyrrhotite. At this early stage, it appears to be of a magmatic style, hosted in ultramafic rocks
like those seen in the footwall of the Luanga deposit. Follow-up drilling is planned.
Figure 1: 19% High-Grade Copper in DDH2405T002: T5 Massive sulphide Cu mineralization (~173m downhole). Open on strike and depth.
NEWS RELEASE
28 May 2024
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Exploration Drilling Update
Initial test diamond drilling of on Borehole Electromagnetic Targets (“BHEM”) targets T5 and T6 has been completed,
and assay results have been received from one of the holes at T5. Drill holes are angled at -60 degrees, towards
azimuths of 150 -180° at T5 and 330-000° at T6 . Together, this set of drill holes comprise a total of 893 metres of
diamond drilling.
Over the past 6 months, Bravo has conducted systematic first-pass test drilling, coupled with BHEM on the priority
EM conductors identified by the HeliTEM survey. Although these modelled conductors, generated by an airborne EM
technique on 150m spaced lines, have a lower degree of locational accuracy, they are sufficiently defined to place
first-pass drilling proximal to the conductor’s location. From there, BHEM, which provides more precise readings
every 1m down the hole, has enabled development of accurately located conductor models for follow-up drilling.
From the 17 priority EM anomalies identified in the HeliTEM survey (see press release September 11, 2023), Bravo
has narrowed this list to 11 high priority conductors that warranted follow-up drilling of predominantly off-hole
BHEM conductors. Drill testing commenced with the T5 and T6 targets, which are respectively situated between 1km
and 4km east of the Luanga PGM+Au+Ni deposit.
T5 Target
Figure 2 shows the mineralization intersected and responsible for the T5 conductor, consisting of massive/semi-
massive/breccia sulphides with sufficient pyrrhotite to generate a strong EM response. The first hole (DDH2305T001,
Figure 3), drilled with an azimuth of 150°, targeted the HeliTEM conductor but only intercepted a narrow interval of
mineralization (0.7m grading 1.98% Cu). Subsequent detailed BHEM modelling from this drill hole indicated that the
conductor was located to the west with a slightly different alignment. To compensate, a new drill hole
(DDH2405T002, Figure 3) was positioned with an azimuth of 180°.
Figure 2: DDH2405T002 - Massive/semi-massive/ breccia sulphide Cu mineralization at the T5 target (165.8 – 174.8m downhole shown).
NEWS RELEASE
28 May 2024
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HOLE-ID From (m) To (m) Thickness (m) Cu (%) Sulphide Ni* (%) Sulphide Au (g/t) TYPE
DDH2405T002 165.62 177.10 11.48 14.27 0.11 3.33 FR
Including 167.50 170.36 2.86 22.91 0.07 3.62 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given orientation of drilling, mineralization and modelled EM anomalies, intercepts are estimated at 100% of true thickness.
Type: FR = Fresh Rock. * Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel.
Drill hole DDH2405T002 intersected 11.5m (at 14.3% Cu, 3.3g/t Au) of massive/semi-massive/breccia copper
sulphide mineralization, at the T5 target. The copper mineralization presents as being within a hydrothermal system
that overprints local felsic meta -intrusive rocks (meta-tonalite). The main mineral assemblage associated with this
hydrothermal zone is represented by calcium -amphibole, biotite -phlogopite, apatite and silica. The sulphide
paragenesis is that chalcopyrite is much more abundant than pyrrhotite, forming massive and semi -massive zones
associated with brecciation within the hydrothermal zone.
Mineralization appears consistent with typical Carajás IOCG-style mineralization (also supported by preliminary
chemistry from handheld XRF spectrometer). N umerous IOCG deposits are well documented in the Carajás and
several operating IOCG copper-gold mines exist. The world-class Salobo Cu/Au mine (Vale S.A.) is the most prolific.
The absence of magnetite alteration (which is commonplace in Carajás IOCG deposits) is not unique, with several
other Carajás deposits similarly lacking magnetite . This results in the low magnetic response as reflected in the
detailed magnetic survey. Historical soil geochemistry covers the T5 target with lines spaced at 200 metres, however,
with an east-west orientation, lines are parallel to the modelled BHEM plates. Despite this, there is weak Cu in soil
anomalism in the vicinity of the BHEM plates (peak high 416ppm Cu) close to the eastern end of the BHEM model.
DDH2405T004 has also been completed (assays pending), while DDH2405T003 is in progress.
Figure 3: Off-conductors at T5 generated from drill hole DDH2305T001. Drill holes 002 and 004 intersected conductor; 003 is in progress.
NEWS RELEASE
28 May 2024
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Figure 4 shows core from the next drill hole ( DDH2405T004) at anomaly T5, completed 50m to the east of
DDH2405T002. Like DDH2405T002, this core also contains 9m of massive/semi-massive/breccia IOCG-style copper
sulphide minerali zation (assays pending). This finding supports the IOCG -style mineralization intersected in
DDH2405T002 to the west and appears to confirm the continuity of the sulphide mineralization. The mineralization
intersected at T5 remains open along strike and up and down dip from the intercepts reported herein.
Figure 4: DDH2405T004 - Massive/Semi-massive/ breccia sulphide Cu mineralization at T5 target (154.0 – 161.4m shown).
T6 Target
Figure 5 shows the intersected mineralization responsible for the T 6 conductor, consisting of 6m of massive/semi-
massive/breccia sulphides, predominantly pyrrhotite, which generates a strong EM response. The first hole
(DDH2306T001 Figure 6) was angled at an azimuth of 330° to target the interpreted HeliTEM conductor but failed to
intersect it. Subsequently, BHEM identified the location of an off-hole conductor , and follow-up drilling
(DDH2406T002, Figure 6) at a new azimuth of 000° intersected this conductor. At this early stage, mineralization
appears to be more likely of a magmatic style , with l ow potassium, chlorine, and calcium, against an ultramafic
(dunite) footwall. Assays are pending, and follow-up drilling is planned.
NEWS RELEASE
28 May 2024
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Figure 5: DDH2406T002 Massive/Semi-massive/ breccia sulphide mineralization at T6 target (57.0 – 60.7m shown).
Drill Results Status Update
A total of 293 drill holes have been completed by Bravo to date, for 62,811 metres, including 8 metallurgical holes
(not subject to routine assaying). Results have been reported for 2 47 Bravo drill holes to date. Assay results for 38
Bravo drill holes that have been completed are currently outstanding (excluding the metallurgical holes).
Bravo has initially budgeted a 3,000m of drilling to follow up the identified EM anomalies and will continue to
systematically evaluate the T5 and T6 targets, as well as the other nine high priority conductors defined by HeliTEM
and subsequent BHEM.
Complete Table of Recent Intercepts.
HOLE-ID Target From (m) To (m) Thickness
(m)
Cu (%)
Sulphide
Ni* (%)
Sulphide
Au
(g/t) TYPE
DDH2405T001 T5 212.30 213.00 0.70 1.98 0.07 0.04 FR
DDH2405T002 T5 165.62 177.10 11.48 14.27 0.11 3.33 FR
Including 167.50 170.36 2.86 22.91 0.07 3.62 FR
DDH2405T004 T5 Pending
DDH2406T001 T6 50.00 56.00 6.00 0.11 0.02 0.01 FR
DDH2406T001 T6 120.65 135.14 14.49 - 0.12 - FR
DDH2406T002 T6 Pending
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given orientation of drilling, mineralization, and modelled EM anomalies, intercepts are estimated at ~100% of true thickness.
Type: 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.
NEWS RELEASE
28 May 2024
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Figure 6: Location of Bravo Drilling at the T5 and T6 targets, reported in this News Release
NEWS RELEASE
28 May 2024
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About Bravo Mining Corp.
Bravo is a Canadian and Brazil-based mineral exploration and development company focused on advancing its Luanga
Project in the world-class Carajás Mineral Province of Brazil
Bravo is the most active explorer in Carajás and is led by a team of local and international geologists who have a
proven track record of PGM, nickel and copper discoveries.
The Luanga Project is situated on mature freehold farming land and benefits from being in a location close to
operating mines and a mining-experienced workforce, with excellent access and proximity to existing infrastructure,
including road, rail, and clean renewable hydro grid power. A fully funded 63,000m infill, step out and exploration
drilling and trenching program is well advanced for 2024. Bravo’s current Environmental, Social and Governance
activities includes planting more than 18,000 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 Nationa l 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
28 May 2024
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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 “high-grade”, “significant”, “discovery”, “priority”, “exciting copper
potential”, “ strong EM response ”, 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 resu lts thereof; the potential for new and/or different styles of
mineralisation in some areas , such as IOCG -style, the presence of which is publicly well documented in the Carajás
mineral province; whether or not the mineralization interested at T5 is in fact IOCG-style, some variant of such or
another style of mineralization; the potential continuity of mineralization between holes; the grades and implications
of unassayed holes; the visual and XRF identification of minerals in the core; the potential implications of magmatic
massive sulphide mineralization at T6; whether the other anomalies are related to mineralization; 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 s uch 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 approv als,
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 manage ment considered reasonable as of the date hereof, including, but not limited to, the
assumption that the assay results confirm that the interpreted along strike and up and down dip ; 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 used in preparing the forward-looking information in this news release are
reasonable, undue reliance shoul d 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.