Bravo Trenches Over 140m of Continuous Oxide PGM+Au at Luanga; Receives Positive Results from Assaying Metallurgical Drill Core Trenching highlights include 146.8m at 2.05g/t PGM+Au, including 50.0m at 4.18g/t PGM+Au Metallurgical drill core highlights include 110.0m at 2.23g/t PGM+Au, including 35.
NEWS RELEASE
08 May 2023
1 | P a g e
Bravo Trenches Over 140m of Continuous Oxide PGM+Au at Luanga; Receives Positive
Results from Assaying Metallurgical Drill Core
Trenching highlights include 146.8m at 2.05g/t PGM+Au, including 50.0m at 4.18g/t PGM+Au
Metallurgical drill core highlights include 110.0m at 2.23g/t PGM+Au, including 35.0m at 3.51g/t
PGM+Au, 0.16% Ni
VANCOUVER, May 08, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “ Company”)
announced that it has received assay results from five trenches and four previously unsampled large diameter (“ZW”)
historical metallurgical drill holes, all located in the Southwest sector of 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.
“Initial t renching shows potential for increased thickness and supergene enrichment, warranting an expanded
trenching program at Luanga ”, said Luis Azevedo, Chairman and CEO of Bravo . “In addition, t he receipt of assay
results from the large diameter metallurgical drill core that had not been sampled by the previous owner has provided
valuable localized grade and geological information and, more importantly, tonnes of mineralized material, both
oxide and fresh rock, that is immediately available for Phase 2 metallurgical program and/or later pilot scale test
work.”
Highlights Include:
▪ Trenching trialed in the Southwest Sector successfully defined thicker zones of mineralization at surface in
comparison to nearest neighbour drill holes below the trench, while assay results indicate grade enrichment
in most cases.
▪ Historical drill core received at site includes large diameter ZW metallurgical core (165mm) drilled in the
Southwest Sector that had not been previously sampled. Assay results from channel sampling of this core are
as good or better than nearby drill holes, supporting Bravo’s interpretation of geology and mineralization. The
core is now ready for use in the Phase 2 metallurgical program.
▪ The combinations of trenching, assay results from the ZW metallurgical core re-sampling and re-logging have
improved interpreted mineralization in these areas (see Figures 2a and 2b).
TRENCH-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t) Au (g/t) PGM + Au
(g/t) TYPE
TRC22LU002 24.1 82.6 58.5 1.46 0.54 0.09 0.03 2.13 Ox
TRC22LU003 20.6 167.4 146.8 1.36 0.59 0.07 0.03 2.05 Ox
Including 41.3 91.3 50.0 2.90 1.06 0.15 0.06 4.18 Ox
TRC22LU004 0.0 81.1 81.1 0.98 0.42 0.05 0.04 1.48 Ox
TRC22LU005 28.0 57.9 29.9 1.25 0.46 007 0.12 1.90 Ox
TRC22LU006 0.0 39.3 39.3 1.10 0.42 0.08 0.11 1.70 Ox
Notes: All ‘From’, ‘To’ and ‘Thickness’ measurements are true measurements. Type: Ox = Oxide.
The recovery of PGM+Au from saprolitic material is being tested as part of the ongoing metallurgical program.
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** (%) Cu (%) TYPE
*FM-0004 0.0 110.0 110.0 1.39 0.64 0.08 0.12 2.23 NA NA Ox/FR
Including 68.7 103.7 35.0 2.25 1.01 0.15 0.11 3.51 0.16 0.02 FR
*FM-0007 26.1 125.0 98.9 1.02 0.38 0.05 0.03 1.47 0.17 0.02 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. * Prefix “PPT-LUAN- “and are historical ZW core.
Given the orientation of the trenches at surface, the intercepts are estimated to be 95% to 150% 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 historic total nickel assays
NEWS RELEASE
08 May 2023
2 | P a g e
Luanga Trenching Program
A trial program testing the effectiveness of trenching commenced at Luanga’s Southwest Sector (Figure 1) in 2022.
Trenching across the strike of the outcrop/sub -crop aimed to accurately map mineralization at surface to enable
better interpretation for the planned Mineral Resource Estimate (“MRE”) , and to reduce the distance/spacing
between assay data points in preparation for later MRE classification ( i.e., Indicated/Inferred). Trenching also
provides detailed outcrop mapping, supporting interpretation of the near surface at Luanga.
The trenching program has also highlighted the increase in mineralized thickness intersected in shallow drillholes
nearby. Assay results from trenching (Figures 2, 3, & 4) clearly show that mineralization in the saprolite zone (above
the base of oxidation) increases in thickness , common in tropical weathering profiles. Figure 7 shows mineralized
thicknesses in plan. In a ddition, the PGM grades in the trench samples compare favourably to the high-grade
intersections in nearby down dip drillholes (Figures 2 & 3). This further suggests supergene enrichment in the
saprolite zone.
Figure 1: Trenching in the Southwest Sector.
Luanga Metallurgical Drill Core
Historical ZW core (165mm diameter core from a 192mm diameter drill hole) (Figure 5) has been received by Bravo
for four holes in the Southwest Sector (Figure 6). This core was initially intended for bulk sampling metallurgical test
work by the previous owner but was not previously sampled. Bravo has relogged the core, located and verified the
locations of these drill holes, and received assay results from its channel sampling of the core. Sampling procedures
followed the same methodology (cutting core to both regolith and lithological contacts) and QAQC procedures used
on the Company’s own drill core. These historical ZW holes were drilled to cover a range of mineralization locations
across the Southwest Sector, as shown in Figure 6. The core is to be used in the Phase 2 metallurgical program.
Two versions of the same drill section are shown below ( Figure 2a & 2b). Figure 2a is the current version, with a
trench form drill holes PPT-LUAN-FD0020 to PPT-LUAN-FM0004, with the extended zone of mineralization and high
grades at surface. Trench assay grades are also superior to assay grades in nearest neighbo ur drilling below the
trench, supportive of supergene enrichment. Figure 2b shows the original historical interpretation of the same
section, without the benefit of new data. See notes on the sections for details of key changes.
NEWS RELEASE
08 May 2023
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Figure 2a and 2b: Southwest Sector (Section 1 on Figure 8) – Trenching defines mineralization at surface. ZW core assays improve continuity.
Figure 2a: Southwest Sector
(Section 1 on Figure 6)
Trenching defines extensive
mineralization at surface compared
to the original historical version of
the same section in Figure 2b below.
Previously unsampled large
diameter ZW metallurgical
(PPT_LUAN_FM0007) core shows
more continuity to mineralization,
while the added information
changes the int erpretation of this
section significantly.
Finally, results from re -sampling of
the historical core, a minor change
in the cut -off grade used to report
results, and re -logging of the core
further significantly change
interpretations.
Figure 2b: Southwest Sector
(Section 1 on Figure 6), original
historical interpretation.
A very different interpretation of the
same section compared to Figure 2a
above.
Geological logging mistakenly shows
diorite intrusions and footwall
ultramafics on both sides of the
orthopyroxenite dominant
transition zone.
Mineralization (using a higher cut -
off grade) starts to break up, is
harder follow, and is interpreted as
narrow and more complex in shape.
ZW Size Metallurgical
Drill Hole
NEWS RELEASE
08 May 2023
4 | P a g e
Figure 3 shows a longer trench excavated to completely cover the potential thickness of mineralization at surface,
where both the southern and northern limits to mineralization had not been defined by drilling . Trenching now
provides a factual basis for in terpretation, showing that mineralization merges in the saprolite zone to produce a
continuous 146m thick layer of mineralized interval at surface. Again, assay grades encountered in trenching are
higher than assay grades in nearest drill holes below the trench, supporting the existence of supergene enrichment.
Figure 3: Southwest Sector (Section 2 on Figure 7) – Trenching testing both the northern and southern limits of mineralization at surface.
Whereas the saprolite zone is relatively thin (ranging from <2m on the ridge line, to 25m away from the ridge), given
Luanga’s 8.1km of strike , the presence of similar saprolite layer +/ - secondary enrichment could result in the
definition of a significant volume of saprolite zone/oxide mineralization in a future MRE.
Trenching, performed to a high quality, replaces the requirement for the many shallow drill holes that would be
needed to achieve the same result for the coming Phase 1 MRE. The same sampling , assay laboratory procedures
and QAQC protocols as applied to drill core sampling are applied to trench samples.
Given the encouraging results from trenching to date, trenching is planned to continue in 2023 along the entire 8.1km
strike length of the Luanga deposit.
NEWS RELEASE
08 May 2023
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Figure 4 shows how trenching to the south of metallurgical drill hole PPT-LUAN-FM0004 has defined the southern
limit to mineralization at surface. Previously this was interpreted more conservatively. Trench data provides a factual
basis for interpretation, with mineralization extending far closer to drill hole PPT-LUAN-FD0019. Sampling of ZW core
metallurgical drill hole PPT-LUAN-FM0004 again shows the excellent continuity of mineralization.
Figure 4: Southwest Sector (Section 3 on Figure 7) – Trenching from PPT-LUAN-FD0036 to 0019 testing the southern limit of mineralization.
ZW Size Metallurgical Drill Hole
NEWS RELEASE
08 May 2023
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Figure 5: Geological logging of ZW size metallurgical drill core compared to regular NQ2 core.
Figure 6: Southwest Sector – Plan view of trenches completed in the Southwest Sector.
NEWS RELEASE
08 May 2023
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Figure 6 shows a surface plan of the 5 trenches completed to date in the Southwest Sector. Thick magenta-coloured
stripes show the thickness of mineralization at surface in the trenches.
Luanga Drilling Status
A total of 175 drill holes (40 in 2023) have been completed by Bravo to date, for 31,510 metres, including all 8 planned
twin holes and all 8 metallurgical holes (not subject to routine assaying). These 8 metallurgical holes are in addition
to the four ZW historical holes received from Vale.
The Phase 2 drilling program is currently in progress.
Results have been reported for 119 Bravo drill holes to date. Excluding the metallurgical holes, results for 48 Bravo
drill holes are currently outstanding.
Complete Table of Recent Intercepts - Trenching
TRENCH-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t) Au (g/t) PGM + Au
(g/t) TYPE
TRC22LU002 24.1 82.6 58.5 1.46 0.54 0.09 0.03 2.13 Ox
Including 56.2 80.6 24.4 2.05 0.75 0.13 0.02 2.96 Ox
TRC22LU003 20.6 167.4 146.8 1.36 0.59 0.07 0.03 2.05 Ox
Including 41.3 91.3 50.0 2.90 1.06 0.15 0.06 4.18 Ox
TRC22LU004 0.0 81.1 81.1 0.98 0.42 0.05 0.04 1.48 Ox
Including 0.0 41.4 41.4 1.50 0.55 0.09 0.06 2.20 Ox
TRC22LU005 28.0 57.9 29.9 1.25 0.46 0.07 0.12 1.90 Ox
And 71.1 80.9 9.8 0.27 0.20 0.02 0.03 0.51 Ox
TRC22LU006 0.0 39.3 39.3 1.10 0.42 0.08 0.11 1.70 Ox
Including 30.0 36.0 6.0 2.29 0.98 0.17 0.28 3.71 Ox
Notes: All ‘From’, ‘To’ and ‘Thickness’ measurements are true measurements. Type: Ox = Oxide.
The recovery of PGM+Au from saprolitic material is being tested as part of the ongoing metallurgical program.
Complete Table of Recent Intercepts – Historical Metallurgical Drill Core
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** (%) Cu (%) TYPE
*FM-0004 0.0 110.0 110.0 1.39 0.64 0.08 0.12 2.23 NA NA Ox/FR
Including 68.7 103.7 35.0 2.25 1.01 0.15 0.11 3.51 0.16 0.02 FR
*FM-0005 37.5 42.5 5.0 0.42 0.15 0.03 0.02 0.62 0.26 0.01 FR
And 70.5 80.5 10.0 0.82 0.34 0.06 0.03 1.26 0.05 0.01 FR
*FM-0006 25.7 44.5 18.8 0.75 0.44 0.07 0.12 1.37 0.18 0.02 FR
And 59.0 74.8 15.8 0.85 0.43 0.06 0.10 1.45 0.17 0.02 FR
*FM-0007 26.1 125.0 98.9 1.02 0.38 0.05 0.03 1.47 0.17 0.02 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole. ‘NA’ Not applicable for Oxide material. * Prefix “PPT-LUAN- “and are historical ZW core.
Given the orientation of the trenches at surface, the intercepts are estimated to be 95% to 150% 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 historic total nickel assays
NEWS RELEASE
08 May 2023
8 | P a g e
Figure 7: Location of Bravo Trenches and Sections Reported in this News Release