Bravo’s Infill Drilling Continues to Intercept Magmatic Nickel Sulphides at Depth at Luanga
NEWS RELEASE
04 April 2023
1 | P a g e
Bravo’s Infill Drilling Continues to Intercept Magmatic Nickel Sulphides at Depth at Luanga
Highlights include 8.7m @ 1.46g/t PGM+Au, 0.46% Ni (Including 2.0m @ 4.11g/t PGM+Au, 1.68% Ni),
And: 4.9m @ 1.13g/t PGM+Au, 0.56% Ni (Including 0.9m @ 3.06g/t PGM+Au, 2.05% Ni)
VANCOUVER, April 04, 2023 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company ”)
announced that it has received assay results from five diamond drill holes (“DDH”) in the North Sector, drilled
along strike from the previously announced magmatic nickel ( ± copper) sulphide intercepts drilled as part of the
Phase 1 program (see news releases dated February 14th, 2023 and August 16th, 2022), at 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.
“With infill drilling alone continuing to intercept magmatic nickel sulphides at depth, the Company is accelerating
its plans for exploration with the commission of a detailed airborne Electromagnetic (“EM”) survey over the entire
Luanga project area (7.810ha)” said Luis Azevedo, Chairman and CEO of Bravo . “While our understanding of the
distribution and controls on magmatic nickel (± copper) sulphide mineralization is still in its early stages, we
continue to see patterns and evidence that suggest potential at depth and in the ultramafic footwall sequence,
and perhaps these might lead towards a common more central location below the Luanga intrusion. Fast-tracking
a comprehensive geophysics program could unlock the potential below Luanga, and greatly accelerate the Phase
2 exploration program in 2023,” he said.
Highlights Include:
▪ Infill drilling continues to inter cept magmatic nickel sulphides at depth at Luanga, further reinforcing the
need to accelerate focused nickel exploration below the known PGM+Au mineralization at Luanga.
▪ Drilling in the North Sector of Luanga has intercepted the continuation of magmatic nickel sulphides, below
the depth of existing historical drilling.
▪ A significant detailed g eophysical program is being commissioned to accelerate the ongoing Phase 2
program.
▪ A detailed HeliTEM (Helicopter airborne EM) survey over the entire Luanga project is the key component
of the geophysics program.
▪ Detailed g ravity and ground magnetic surveys have also commenced, prioritizing prospective magmatic
nickel sulphide targets within favourable geology, and potential feeder zone target(s).
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
DDH22LU080 186.6 195.3 8.7 0.92 0.47 0.06 0.01 1.46 0.46 FR
Including 186.5 188.5 2.0 2.89 1.03 0.16 0.03 4.11 1.68 FR
And 203.3 208.2 4.9 0.56 0.50 0.06 0.01 1.13 0.56 FR
Including 205.4 206.3 0.9 1.38 1.56 0.12 0.01 3.06 2.05 FR
DDH22LU087 20.3 52.9 32.6 1.71 1.07 0.15 0.06 2.99 NA Ox/FR
Including 41.9 52.9 11.0 2.62 1.36 0.18 0.08 4.24 0.27 FR
DDH22LU088 156.8 161.5 4.7 1.45 0.51 0.01 0.01 1.99 0.83 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
All intercepts were in fresh rock.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 85% to 100% of true thickness.
* Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays.
NEWS RELEASE
04 April 2023
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Magmatic Nickel Exploration Program
Given the increasing number of magmatic nickel sulphide intercepts at depth in the infill drilling program, and the
recent commencement of Phase 2 extensional drilling below this mineralization, Bravo has elected to accelerate
its exploration program targeting magmatic nickel (± copper) sulphides at Luanga.
The Company has engaged a geophysical contractor to complete a HeliTEM survey over the entire Luanga project.
The EM survey is planned at a detailed line spacing of 150m and is expected to be carried out in Q2, 2023.
A ground magnetic survey is underway, with 35 line/km completed to date utilizing Bravo’s own equipment. A
detailed gravity survey has commenced using the Company’s new CG-6 gravity meter and base station (Figure 1).
These surveys prioritize prospective nickel stratigraphy and potential feeder zone target/s.
Figure 1: Gravity Base Station at the Luanga Office (Left). Geophysics Technician at work with Gravity Meter (Right).
North Sector Magmatic Nickel Sulphides in Infill Drilling
Infill drilling in the North Sector (Figure 2) continues to intercept magmatic nickel sulphides at depth (Section -
Figure 4). Some i nfill drilling by Bravo has been deeper than historical drilling on nearby sections, perhaps
explaining the absence of observed nickel sulphides in historical drilling.
Figure 3 shows the location of drill results in this news release, demonstrating that higher-grade magmatic nickel
sulphides are vectoring to the south, towards the center of the intrusion, whil st passing under the depth extent
of the shallower drilling on historical drill sections.
The Phase 2 program has commenced, with 21,500 meters of drilling planned, focused on extensional drilling to
depth (below the known mineralization) and exploration of new targets. The extensional drilling seeks to follow
the Luanga PGM+Au deposit down dip while , at the same time , extending holes to depths sufficient to test the
interface between the PGM host sequence and the ultramafic footwall sequence. The accelerated geophysical
program aims to generate magmatic nickel sulphide exploration targets and examine the entire Luanga project
area, including outside the mineralized footprint identified to date.
NEWS RELEASE
04 April 2023
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Figure 2: Core photos from North Sector (DDH22LU088, 080 and 071), nickel ± copper sulphide mineralization.
DDH22LU088 and DDH22LU098 shown in the section below (Figure 4), encounter ed magmatic nickel sulphides
close to the bottom of the drill holes, deeper than tested by nearby historical drilling. Current exploration
targeting thus recognizes the magmatic nickel sulphide potential at depth, closer to the ultramafic footwall
sequence and within the ultramafic footwall sequence, and vectoring towards the center of the Luanga intrusion
which ideally should be closer to a feeder zone location. Similarly magmatic nickel sulphides encountered in the
Central Sector also appear to vector towards the center of the Luanga intrusion, which aligns with the Company’s
geological model for Luanga.
DDH22LU071 @252.5m
1.22g/t PGM+Au, 0.35 % Ni
Meta-orthopyroxenite, ~5%
intercumulus sulphides
DDH22LU088 @159.6m.
2.04g/t PGM+Au, 0.79% Ni
Orthopyroxenite ~8% intercumulus
sulphides
DDH22LU080 @206.0m
3.06g/t PGM+Au, 2.05 % Ni
Orthopyroxenite, ~10% cumulus
sulphides
NEWS RELEASE
04 April 2023
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Figure 3: North Sector – New magmatic nickel sulphide intercepts in infill drilling, shown over historic Ni-in-soil geochemistry.
NEWS RELEASE
04 April 2023
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Figure 4: North Sector cross section showing the increase in magmatic nickel sulphides at depth (open at depth).
Luanga Drill Program Progress
A total of 165 drill holes (30 in 2023) have been completed by Bravo to date, for 2 8,674 metres, including all 8
planned twin holes and all 8 metallurgical holes (not for routine assaying).
Results have been reported for 117 Bravo drill holes to date. Excluding the 8 metallurgical holes, results for 40
Bravo drill holes are currently outstanding.
Luanga’s maiden NI 43-101 MRE is on-track for H2/2023.
NEWS RELEASE
04 April 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* (%
Sulphide
)
TYPE
DDH22LU071 0.0 19.8 19.8 0.48 0.33 0.06 0.11 0.98 NA Ox
And 86.7 90.7 4.0 0.87 0.77 0.14 0.04 1.81 0.08 FR
And 94.7 115.7 21.0 0.78 0.89 0.11 0.15 1.93 0.14 FR
And 119.7 128.7 9.0 0.70 0.69 0.09 0.05 1.54 0.06 FR
And 249.6 254.6 5.0 0.61 0.19 0.01 0.02 0.82 0.20 FR
And 259.6 262.6 3.0 0.36 0.14 0.01 0.39 0.90 0.08 FR
DDH22LU080 155.6 160.6 5.0 0.32 0.23 0.02 0.01 0.58 0.01 FR
And 186.6 195.3 8.7 0.92 0.47 0.06 0.01 1.46 0.46 FR
Including 186.5 188.5 2.0 2.89 1.03 0.16 0.03 4.11 1.68 FR
And 203.3 208.2 4.9 0.56 0.50 0.06 0.01 1.13 0.56 FR
Including 205.4 206.3 0.9 1.38 1.56 0.12 0.01 3.06 2.05 FR
DDH22LU087 20.3 52.9 32.6 1.71 1.07 0.15 0.06 2.99 NA Ox/FR
Including 41.9 52.9 11.0 2.62 1.36 0.18 0.08 4.24 0.27 FR
And 99.3 105.3 6.0 0.37 0.61 0.16 0.01 1.14 0.07 FR
And 130.4 134.6 4.2 0.44 0.32 0.07 0.03 0.87 0.25 FR
And 176.9 186.9 10.0 0.15 0.35 0.03 0.01 0.54 0.22 FR
DDH22LU088 45.0 47.0 2.0 1.31 0.97 0.45 0.02 2.74 0.01 FR
And 109.6 115.6 6.0 1.21 0.86 0.12 0.04 2.24 0.08 FR
And 123.6 125.6 2.0 0.45 0.28 0.02 0.01 0.76 0.26 FR
And 140.7 142.7 2.0 0.40 0.34 0.01 0.01 0.75 0.16 FR
And 156.8 161.5 4.7 1.45 0.51 0.01 0.01 1.99 0.83 FR
DDH22LU098 179.9 187.9 8.0 1.25 0.74 0.08 0.01 2.08 0.03 FR
And 197.9 211.0 13.1 0.41 0.28 0.06 0.01 0.75 0.13 FR
And 234.7 237.7 3.0 0.71 0.16 0.07 0.01 0.95 0.49 FR
Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.
Given the orientation of the hole and the mineralization, the intercepts are estimated to be 85% to 100% 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
04 April 2023
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Figure 5: Location of Bravo Drilling Reported in this News Release
NEWS RELEASE
04 April 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