Bravo Mining Re-Assay Results Confirm Historic Intercepts
NEWS RELEASE
21 June 2022
Bravo Mining Re-Assay Results Confirm Historic Intercepts
Highlights include 60m @ 2.60g/t 3 PGMs + Au and 0.13% Ni sulphide starting at 49m downhole
NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR FOR DISSMINATION IN THE UNITED STATES
VANCOUVER, BC, June 21, 2022 – Bravo Mining Corp. (“Bravo” or the “Company”) today announced that it has
received the results from the re-analysis of 16 historic diamond holes from its Luanga platinum group metals
(palladium + platinum + rhodium) + gold + nickel (PGM+Au+Ni) project (“Luanga”), located in the Carajás Mineral
Province, state of Pará, Brazil and that these re-assay results confirm the historic assay results.
“The results of the re-assay program to date are encouraging, as Bravo’s re-assay results closely correlate with the
historic assays. These 16 holes represent approximately 10% of all the historic drill intersections within the known
7km long mineralized envelope at Luanga,” said Luis Azevedo, Executive Chairman and CEO of Bravo Mining.
“Luanga drilling activities continue to ramp up with the 27 diamond holes completed thus far in 2022 and
preparations underway for the imminent arrival of two more diamond drill rigs bringing the total to six drill rigs.”
Highlights
▪ Initial re-assay results of 16 historic VALE SA diamond holes from Bravo’s ongoing re-assay program have
demonstrated a close correlation with the historic assays. Select intersections from Bravo’s re -assays are
tabulated below.
Hole #
(PPT-LUAN-)
From
(m)
Intercept
Length (m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
Sulphide Ni
(%)
FD0018 0 50 1.05 2.34 0.16 0.26 0.04
FD0019 49 60 0.72 1.61 0.11 0.15 0.13
FD0085 90 13 0.53 1.49 0.09 0.13 0.29
FD0132 0 66 0.88 0.78 0.02 0.00 0.01
FD0189 121 10 2.33 1.66 0.30 0.01 0.10
And 140 14 1.56 1.00 0.13 0.01 0.10
FD0220 89 11 1.01 1.13 0.14 0.07 0.11
And 105 55 0.61 1.10 0.10 0.12 0.23
And 178 14 0.87 1.01 0.11 0.01 0.03
▪ Bravo has four diamond drill rigs operating at Luanga, with additional rigs expected in June and July.
▪ The Company has completed 27 holes including three twin holes and twenty-four infill holes. To date, 3,441
samples have been submitted for assay, including three twin and eight infill holes.
▪ Bravo has now received 65 historic VALE SA diamond holes and the re -logging, re-sampling and re-assaying
program is ongoing. The remainder of the VALE SA diamond holes are anticipated to be delivered to the
Luanga site by the end of July.
Re-Assay Program
Of the 252 historic diamond drill holes completed by VALE SA on the Luanga property , core from 65 holes has
been delivered to the Luanga site and the re-logging, re-sampling and re-assaying program will continue until the
NEWS RELEASE
21 June 2022
Company has received all the historic core. Bravo is processing and re-assaying the historic core in the order it is
delivered and these results should not be taken as representative of the overall deposit or any portion thereof.
Bravo has received final assay results (including palladium, platinum, rhodium, gold and nickel sulphide ) for 16
historic diamond holes submitted for re-assay (as announced in the Company’s news release dated April 5, 2022).
These samples were prepared at ALS Brasil Limitada’s (“ ALS”) preparatory laboratory in Parauapebas, located
approximately 72km from Luanga , and then sent to their laboratories in Peru and Vancouver for assaying. A
representative split was also submitted to SGS Geosol Laboratorios LTDA (“ SGS”) in Brazil for check assaying
against the historic VALE SA method . Bravo selected these two internationally accredited laboratories to assess
the most appropriate assay methodology for Luanga’s mineralization type. In addition, most of the historic core
was assayed by SGS so it was also selected to enable a comparison of the results by the same company, using the
same sample protocol , but with more modern techniques. Some variability is to be anticipated as the Bravo
samples represent the second half of the core as opposed to being a rerun of the same sample ; different sample
preparation; different sample digestion and analytical methods used by the laboratories in different time periods;
and the natural variability of the mineralization.
A comparison of historic results and Bravo re -assay results from ALS and SGS are shown below and complete
results from ALS and SGS are reported in Schedules 1 and 2 of this news release, respectively. Bravo’s ALS and SGS
re-assay data for palladium, platinum, rhodium and gold closely correlate with the historic assay results provided
by VALE SA. The ALS nickel sulphide results also show a good correlation with the historic assays, noting that Bravo
assayed for potentially recoverable sulphide nickel whereas VALE SA assayed for total nickel , which will include
non-recoverable silicate nickel.
Bravo intends to continue to re-log, re-sample and re-assay all the remaining core from the historic drilling as it is
received, providing a comprehensive, modern assay database to refine targeting in the current Phase 1 drill
program and support future mineral resource estimates.
Comparison of historic assays and Bravo’s re-assays by ALS and SGS
HOLE-ID From
(m)
To
(m)
Thickness
(m)
HISTORIC 4E
(Pd + Pt + Rh +
Au) g/t
BRAVO 4E ALS
(Pd + Pt + Rh +
Au) g/t
BRAVO 4E SGS
(Pd + Pt + Rh +
Au) g/t
PPT-LUAN-FD0018 # 0.0 50.0 50.0 3.54 3.81 3.62
And 63.0 95.0 32.0 1.58 1.50 1.45
PPT-LUAN-FD0019 49.0 109.0 60.0 2.19 2.60 2.51
PPT-LUAN-FD0033 103.0 112.0 9.0 1.55 1.65 1.50
PPT-LUAN-FD0059 52.0 101.0 49.0 1.62 1.77 1.57
PPT-LUAN-FD0085 90.0 103.0 13.0 1.67 2.24 1.81
PPT-LUAN-FD0113 118.0 129.0 11.0 0.98 1.79 1.57
PPT-LUAN-FD0121 83.0 92.0 9.0 1.25 2.69 2.47
PPT-LUAN-FD0131 57.0 65.0 8.0 3.67 2.93 3.56
PPT-LUAN-FD0132 0.0 66.0 66.0 1.73 1.69 1.64
PPT-LUAN-FD0167 68.0 83.0 15.0 1.39 1.76 1.60
PPT-LUAN-FD0173 0.0 35.0 35.0 2.00 1.49 1.45
And 44.0 84.0 40.0 2.26 1.68 1.77
PPT-LUAN-FD0187 388.0 405.0 17.0 1.24 1.17 1.38
PPT-LUAN-FD0188 113.0 125.0 12.0 1.99 1.04 1.00
NEWS RELEASE
21 June 2022
HOLE-ID From
(m)
To
(m)
Thickness
(m)
HISTORIC 4E
(Pd + Pt + Rh +
Au) g/t
BRAVO 4E ALS
(Pd + Pt + Rh +
Au) g/t
BRAVO 4E SGS
(Pd + Pt + Rh +
Au) g/t
PPT-LUAN-FD0189 121.0 131.0 10.0 3.76 4.31 3.97
And 140.0 154.0 14.0 2.88 2.71 2.68
PPT-LUAN-FD0220 89.0 100.0 11.0 1.69 2.35 2.59
And 105.0 160.0 55.0 1.90 1.94 1.90
And 178.0 192.0 14.0 1.62 2.00 2.09
PPT-LUAN-FD0221 0.0 25.0 25.0 1.45 1.57 1.44
And 68.0 78.0 10.0 1.56 1.68 1.35
And 98.0 106.0 8.0 2.55 2.36 1.74
• All From/To Depths and Thicknesses are downhole.
• Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~70 to 100% of true thi ckness.
Holes marked with # were drilled sub-parallel to mineralization and therefore do not represent true thickness.
Drilling Progress
Bravo now has four diamond drill rigs operating at Luanga, with additional drill rigs due to be mobilized to site in
June and July 2022. The Phase 1 drill program is focused on confirming the results of the extensive historic drilling
that included 252 core holes aggregating 50,353m completed by VALE SA on the Luanga property in the early
2000s. Bravo has completed 27 diamond holes (aggregating 4,737m of drilling) in 2022 to date, including four twin
holes and twenty -three infill holes. Holes are being systematically logged sampled and sent for assay. To date,
3,441 samples have been submitted for assay, including three twin and eigh t infill holes. Assay results for these
Bravo holes are pending.
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.
Bravo was founded by a management team and board with extensive Brazilian and PGM exploration, permitting,
project financing, construction and operating experience. This includes Luis Azevedo, Executive Chairman & CEO;
Simon Mottram, President; Alex Penha, EVP Corporate Development; and Independent Directors, Dr. Nicole
Adshead-Bell (Lead Director), Stuart Comline, Tony Polglase and Stephen Quin.
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 by comparing
the re-assays with the historic assays from the same intervals in the same holes and considers that there has been
NEWS RELEASE
21 June 2022
no material change from the results described in the technical report titled “Independent Technical Report for
the Luanga PGE+Au+Ni Project, Pará State, Brazil” dated May 29th, 2022, with an effective date of April 12th, 2022.
Historical Information
This news release includes historical drilling and historical assay results generated by the prior owner of Luanga
that have been reviewed by the Company’s geological team. The Company’s review of the historical records and
information reasonably substantiate the validity of the historical information presented in this news release;
however, the Company cannot directly verify the accuracy of the historical data, including the procedures used
for sample collection and analysis. Therefore, the Company encourages investors to exercise appropriate caution
when evaluating the historical results. Further data review is underway, in order to verify the validity of the data
for use , alongside Bravo’s new drilling and re -assay data in any future NI 43 -101 compliant mineral resource
estimate.
For further information about Bravo, please 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 “believe”, “anticipate”, “opportunity”, “advance” and other similar
words, or statements that c ertain events or conditions “may” or “will” occur. In particular, this news release
contains forward -looking information pertaining to the Company’s ongoing re -assay and drill programs; the
expected arrival of additional drill rigs and delivery of historic core; 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
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 assumptio n that the additional drill rigs and historic core
will arrive within the anticipated timeframe; final drill and assay results will be in line with management’s
expectations; that activities will not be adversely disrupted or impeded by regulatory, politic al, 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 intenti on or obligation to update or revise any forward -looking information, other
than as required by applicable securities laws.
NEWS RELEASE
21 June 2022
Schedule 1: Luanga Project ALS Re-Assay Results
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
Ni %
(Sulphide)
4E
(Pd + Pt +
Rh + Au)
TYPE
PPT-LUAN-FD0018# 0.0 50.0 50.0 1.05 2.34 0.16 0.26 0.04 3.81 OX/SUL
And 63.0 95.0 32.0 0.39 0.88 0.05 0.17 0.13 1.50 SUL
PPT-LUAN-FD0019 49.0 109.0 60.0 0.72 1.61 0.11 0.15 0.13 2.60 SUL
PPT-LUAN-FD0033 103.0 112.0 9.0 0.43 1.13 0.07 0.02 0.20 1.65 SUL
PPT-LUAN-FD0059 52.0 101.0 49.0 0.91 0.85 0.01 0.00 0.01 1.77 SUL
PPT-LUAN-FD0085 90.0 103.0 13.0 0.53 1.49 0.09 0.13 0.29 2.24 SUL
PPT-LUAN-FD0113 118.0 129.0 11.0 0.63 1.02 0.11 0.03 0.09 1.79 SUL
PPT-LUAN-FD0121 83.0 92.0 9.0 0.70 1.81 0.13 0.06 0.27 2.69 SUL
PPT-LUAN-FD0131 57.0 65.0 8.0 0.92 1.77 0.20 0.03 0.27 2.93 SUL
PPT-LUAN-FD0132 0.0 66.0 66.0 0.88 0.78 0.02 0.00 0.01 1.69 OX/SUL
PPT-LUAN-FD0167 68.0 83.0 15.0 0.41 1.27 0.06 0.01 0.10 1.76 SUL
PPT-LUAN-FD0173 0.0 35.0 35.0 1.24 0.23 0.01 0.00 0.00 1.49 OX
And 44.0 84.0 40.0 1.36 0.27 0.04 0.00 0.00 1.68 SUL
PPT-LUAN-FD0187 388.0 405.0 17.0 0.40 0.71 0.01 0.05 0.06 1.17 SUL
PPT-LUAN-FD0188 113.0 125.0 12.0 0.52 0.40 0.10 0.03 0.12 1.04 SUL
PPT-LUAN-FD0189 121.0 131.0 10.0 2.33 1.66 0.30 0.01 0.10 4.31 SUL
And 140.0 154.0 14.0 1.56 1.00 0.13 0.01 0.02 2.71 SUL
PPT-LUAN-FD0220 89.0 100.0 11.0 1.01 1.13 0.14 0.07 0.11 2.35 SUL
And 105.0 160.0 55.0 0.61 1.10 0.10 0.12 0.23 1.94 SUL
And 178.0 192.0 14.0 0.87 1.01 0.11 0.01 0.03 2.00 SUL
PPT-LUAN-FD0221 0.0 25.0 25.0 0.52 0.87 0.11 0.08 0.07 1.57 OX/SUL
And 68.0 78.0 10.0 0.63 0.89 0.11 0.05 0.20 1.68 SUL
And 98.0 106.0 8.0 0.74 1.41 0.15 0.06 0.21 2.36 SUL
• All From/To depths and Thicknesses are downhole.
• Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~70 to 100% of true thi ckness.
Holes marked with # were drilled sub-parallel to mineralization and therefore do not represent true thickness.
• Ox = Oxide. Sul = Sulphide. Recovery methods and results will differ based on the type of mineralization.
NEWS RELEASE
21 June 2022
Schedule 2: Luanga Project SGS GEOSOL Re-Assay Results
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd g/t Pt g/t Rh g/t Au g/t Ni %
(Sulphide)
4E
(Pd + Pt
+ Rh +
Au)
ORE
TYPE
PPT-LUAN-FD0018 # 0.0 50.0 50.0 1.03 2.25 0.09 0.25 N/A 3.62 OX/SUL
And 63.0 95.0 32.0 0.38 0.86 0.03 0.18 N/A 1.45 SUL
PPT-LUAN-FD0019 49.0 109.0 60.0 0.70 1.59 0.08 0.14 N/A 2.51 SUL
PPT-LUAN-FD0033 103.0 112.0 9.0 0.39 1.04 0.06 0.02 N/A 1.50 SUL
PPT-LUAN-FD0059 52.0 101.0 49.0 0.81 0.76 0.00 0.00 N/A 1.57 SUL
PPT-LUAN-FD0085 90.0 103.0 13.0 0.43 1.22 0.08 0.09 N/A 1.81 SUL
PPT-LUAN-FD0113 118.0 129.0 11.0 0.54 0.89 0.11 0.02 N/A 1.57 SUL
PPT-LUAN-FD0121 83.0 92.0 9.0 0.59 1.70 0.13 0.05 N/A 2.47 SUL
PPT-LUAN-FD0131 57.0 65.0 8.0 1.12 2.17 0.20 0.06 N/A 3.56 SUL
PPT-LUAN-FD0132 0.0 66.0 66.0 0.83 0.79 0.02 0.00 N/A 1.64 OX/SUL
PPT-LUAN-FD0167 68.0 83.0 15.0 0.39 1.18 0.03 0.00 N/A 1.60 SUL
PPT-LUAN-FD0173 0.0 35.0 35.0 1.21 0.23 0.00 0.00 N/A 1.45 OX
And 44.0 84.0 40.0 1.39 0.33 0.04 0.01 N/A 1.77 SUL
PPT-LUAN-FD0187 388.0 405.0 17.0 0.50 0.82 0.00 0.06 N/A 1.38 SUL
PPT-LUAN-FD0188 113.0 125.0 12.0 0.51 0.40 0.07 0.03 N/A 1.00 SUL
PPT-LUAN-FD0189 121.0 131.0 10.0 2.04 1.48 0.43 0.01 N/A 3.97 SUL
And 140.0 154.0 14.0 1.45 0.97 0.25 0.01 N/A 2.68 SUL
PPT-LUAN-FD0220 89.0 100.0 11.0 1.16 1.26 0.12 0.05 N/A 2.59 SUL
And 105.0 160.0 55.0 0.63 1.09 0.07 0.11 N/A 1.90 SUL
And 178.0 192.0 14.0 0.91 1.07 0.11 0.01 N/A 2.09 SUL
PPT-LUAN-FD0221 0.0 25.0 25.0 0.50 0.79 0.09 0.06 N/A 1.44 OX/SUL
And 68.0 78.0 10.0 0.52 0.70 0.09 0.04 N/A 1.35 SUL
And 98.0 106.0 8.0 0.55 1.03 0.12 0.04 N/A 1.74 SUL
• “N/A” = Not Analysed.
• All From/To depths and Thicknesses are downhole.
• Given the orientation of the holes and the mineralization, the intercepts are estimated to range from ~70 to 100% of true thi ckness.
Holes marked with # were drilled sub-parallel to mineralization and therefore do not represent true thickness.
• Ox = Oxide. Sul = Sulphide. Recovery methods and results will differ based on the type of mineralization.
NEWS RELEASE
21 June 2022
Schedule 3: Historic Drill Hole Collar Details
HOLE-ID East
(m)
North
(m)
RL
(m)
Datum Length
(m)
Azimuth Dip
PPT-LUAN-FD0018 657,148.03 9,339,746.07 275.92 SIRGAS2000 UTM22S 100.30 180.0 -70.0
PPT-LUAN-FD0019 657,148.74 9,339,672.49 256.85 SIRGAS2000 UTM22S 200.15 0.0 -60.0
PPT-LUAN-FD0033 656,952.45 9,339,530.85 265.18 SIRGAS2000 UTM22S 150.80 0.0 -60.0
PPT-LUAN-FD0059 659,367.95 9,343,172.59 247.52 SIRGAS2000 UTM22S 152.55 90.0 -60.0
PPT-LUAN-FD0085 658,521.34 9,340,786.90 277.02 SIRGAS2000 UTM22S 209.40 330.0 -60.0
PPT-LUAN-FD0113 659,241.39 9,341,144.66 229.21 SIRGAS2000 UTM22S 210.65 330.0 -70.0
PPT-LUAN-FD0121 658,717.70 9,340,845.46 242.43 SIRGAS2000 UTM22S 216.10 330.0 -60.0
PPT-LUAN-FD0131 659,062.45 9,341,042.07 237.43 SIRGAS2000 UTM22S 139.95 330.0 -60.0
PPT-LUAN-FD0132 659,342.73 9,343,373.56 239.34 SIRGAS2000 UTM22S 201.05 90.0 -60.0
PPT-LUAN-FD0167 656,949.66 9,339,799.15 282.93 SIRGAS2000 UTM22S 200.65 0.0 -60.0
PPT-LUAN-FD0173 659,446.03 9,343,565.28 225.99 SIRGAS2000 UTM22S 129.35 90.0 -60.0
PPT-LUAN-FD0187 659,749.21 9,342,175.71 223.07 SIRGAS2000 UTM22S 497.60 90.0 -60.0
PPT-LUAN-FD0188 659,964.07 9,342,172.42 283.23 SIRGAS2000 UTM22S 200.70 90.0 -60.0
PPT-LUAN-FD0189 659,877.29 9,341,974.92 271.68 SIRGAS2000 UTM22S 220.45 90.0 -60.0
PPT-LUAN-FD0220 659,997.26 9,341,771.86 276.40 SIRGAS2000 UTM22S 200.50 90.0 -60.0
PPT-LUAN-FD0221 659,954.04 9,341,774.57 268.75 SIRGAS2000 UTM22S 200.50 90.0 -60.0
NEWS RELEASE
21 June 2022
Schedule 4: Assay Methodologies and QAQC
Samples for the historic drill core re-sampling (Bravo, 2022) followed chain of custody between collection,
processing and delivery to the ALS laboratory in Parauapebas, state of Pará, Brazil. The drill core was delivered to
the core shack at Bravo’s Luanga site facilities and processed by geologists who inserted certified reference
materials, blanks and duplicates into the sampling sequence. The historic NQ drill core was quarter cut and placed
in secured polyurethane bags, then in security -sealed sacks before being delivered directly from the Luanga site
facilities to the Parauapebas ALS laboratory by Bravo staff. A representative split was delivered by ALS directly to
SGS for further re -analysis. Samples were prepared and analyzed following procedures summarized in the table
below and additional i nformation about the methodology can be found on the respective ALS or SGS global
websites (ALS, SGS) in their analytical guides. Information regarding preparation and analysis of historic drill core
is also presented in this table 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 b lindly inserted into the
sample batch. If a QAQC sample returns an unacceptable value an investigation into the results 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
Bravo SGS Geosol
Preparation Method Method Method Method
For All Elements Pt, Pd, Au Rh Ni-Sulphide Trace Elements
PREP-31B FAI515 FAA35J N/A N/A
Historic Drill Assaying SGS Geosol
Preparation Method Method Method Method
For All Elements Pt, Pd, Au Rh TOTAL Ni Trace Elements
Crushed to <200
mesh
FA30A FA30B ICP-117 ICP-117