Bravo’s Re-assay Program Confirms High-Grade PGMs, Au and Ni grades at Luanga
NEWS RELEASE
13 September 2022
1 | P a g e
Bravo’s Re-assay Program Confirms High-Grade PGMs, Au and Ni grades at Luanga
Highlights include 12.0m @ 8.49g/t PGM + Au
Including 2.0m @ 24.03g/t PGM + Au (including 1.14g/t Rhodium)
VANCOUVER, September 13, 2022 – Bravo Mining Corp. (TSX.V: BRVO), (“Bravo” or the “ Company”) today
announced that it has received results from the re-analysis of an additional five historic drill holes (“DDH”) from
its wholly owned Luanga PGM (palladium + platinum + rhodium) + gold + nickel project (“Luanga”), located in the
Carajás Mineral Province, state of Pará, Brazil.
“We are encouraged that the results from the historic core re-assay program continue to correlate well with VALE’s
historic results in both thicknesses and grades, further increasing our confidence in the prior work completed at
Luanga,” said Luis Azevedo, Chairman and CEO of Bravo. “Regarding the recent success encountering high-grade
nickel/copper massive sulphides, drilling has already commenced on the next drill section, and surface Fixed Loop
Transient Electromagnetics (FLTEM) surveying is expected to commence shortly , and will ultimately cover the
whole project footprint."
Highlights
▪ Additional assay results from the re-assaying of historic drilling continue to correlate closely with the historic
original assay results, in both tenor and mineralized thicknesses.
▪ Highlights of Bravo’s recent re-assay results are tabulated below, with details and comparisons attached:
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
Ni %
(Sulphide)
PGM + Au
(g/t) TYPE
PPT-LUAN-FD0010 0.0 17.0 17.0 1.29 1.02 0.20 0.03 NA 2.53 Ox
PPT-LUAN-FD0014 10.0 22.0 12.0 5.42 2.62 0.41 0.04 NA 8.49 Ox
Including 16.0 18.0 2.0 15.3 7.51 1.14 0.08 NA 24.03 Ox
PPT-LUAN-FD0021 0.0 16.0 16.0 1.59 0.63 0.09 0.01 NA 2.33 Ox
PPT-LUAN-FD0026 0.0 26.0 26.0 1.31 1.00 0.20 0.02 NA 2.53 Ox
Notes: 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 95% of true thickness.
Type: Ox = Oxide. FR = Fresh Rock. Recovery methods and results will differ based on the type of mineralization.
NA: Not Applicable as intercept is oxide.
▪ Drilling has commenced on the next drill section to the north of the high-grade nickel/copper massive
sulphides intersected in drill hole DDH22LU047 (see August 16th, 2022 news release).
▪ Surface FLTEM surveying is expected to commence shortly.
▪ 71 drill holes have been completed, for a total of 11,770 metres (or 46% of Phase 1 Drilling Program), including
5 twin holes and 6 metallurgical holes. Currently 38 drill holes are at the laboratory pending results, including
16 historic re-assay drill holes.
▪ 10,435 samples submitted for assay to date including 2,945 re-assay samples from historic drill core.
▪ 6 drill rigs operating onsite.
NEWS RELEASE
13 September 2022
2 | P a g e
Luanga Re-Assay Program Progress
A comparison of the original historic intercepts with the Bravo re -assay results is tabulated below , with a plan
showing their locations and a section for PPT-LUAN-FD0021. Bravo’s re -assay results again reiterate the close
correlation with the original historic intercepts, in both thicknesses and grade, noting that Bravo nickel grades are
for sulphide nickel which is representative of potentially recoverable (by froth flota tion treatment) nickel, and
does not include non -recoverable silicate nickel whereas historic assays were total nickel, thus including both
sulphide and non-recoverable silicate nickel.
Comparison of Re-Assayed Intercepts – Historic Intercept (SGS Laboratory) versus Bravo Intercept (ALS Laboratory)
HOLE-ID From
(m)
To
(m)
Thickness
(m)
HISTORIC SGS
PGM + Au (g/t)
BRAVO ALS
PGM + Au (g/t)
HISTORIC
Ni % (Total)
BRAVO
Ni % (Sulphide) TYPE
PPT-LUAN-FD0010 0.0 17.0 17.0 2.57 2.53 NA NA Ox
PPT-LUAN-FD0012 57.0 61.0 4.0 0.54 0.74 0.08 0.08 FR
PPT-LUAN-FD0014 10.0 22.0 12.0 7.34 8.49 NA NA Ox
Including 16.0 18.0 2.0 20.11 24.03 NA NA Ox
PPT-LUAN-FD0021 0.0 16.0 16.0 1.90 2.33 NA NA Ox
PPT-LUAN-FD0026 0.0 26.0 26.0 2.60 2.53 NA NA Ox
And 40.0 45.0 5.0 0.95 2.92 0.01 0.01 FR/LS
And 52.0 78.0 26.0 0.64 0.88 0.01 0.02 FR/LS
And 85.0 98.0 13.0 0.90 1.20 0.00 0.01 FR/LS
Notes: 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 95% of true thickness.
Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulphur. 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.
Historic drill holes PPT-LUAN-FD0010 and PPT-LUAN-FD0026 were drilled from the same location but scissored to
intersect the steeply dipping mineralization from both the hangingwall and footwall sides. As a result, after going
through the top of the sulphide mineralizatio n, PPT-LUAN-FD0026 immediately goes into the transitional mafic
rocks in the hangingwall above the Luanga sulphide zone , intersecting low sulphide mineralization. This low
sulphide mineralization is not currently being targeted by the Company’s drill progr am since the r ecovery of
metals from low sulphide mineralization is typically more challenging and therefore it has not been prioritized by
Bravo. However, Bravo will continue to assess the potential of low sulphide mineralization and, if warranted,
consider metallurgical testing to evaluate recovery options.
NEWS RELEASE
13 September 2022
3 | P a g e
Complete Table of Re-assayed Intercepts
HOLE-ID From
(m)
To
(m)
Thickness
(m)
Pd
(g/t)
Pt
(g/t)
Rh
(g/t)
Au
(g/t)
Ni %
(Sulphide)
PGM + Au
(g/t) TYPE
PPT-LUAN-FD0010 0.0 17.0 17.0 1.29 1.02 0.20 0.03 NA 2.53 Ox
PPT-LUAN-FD0012 57.0 61.0 4.0 0.44 0.25 0.04 0.01 0.08 0.74 FR
PPT-LUAN-FD0014 10.0 22.0 12.0 5.42 2.62 0.41 0.04 NA 8.49 Ox
Including 16.0 18.0 2.0 15.3 7.51 1.14 0.08 NA 24.03 Ox
PPT-LUAN-FD0021 0.0 16.0 16.0 1.59 0.63 0.09 0.01 NA 2.33 Ox
PPT-LUAN-FD0026 0.0 26.0 26.0 1.31 1.00 0.20 0.02 NA 2.53 Ox
And 40.0 45.0 5.0 0.43 2.24 0.24 0.01 0.01 2.92 FR/LS
And 52.0 78.0 26.0 0.26 0.55 0.06 0.01 0.02 0.88 FR/LS
And 85.0 98.0 13.0 0.38 0.77 0.03 0.01 0.01 1.20 FR/LS
Notes: 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 95% of true thickness.
Type: Ox = Oxide. FR = Fresh Rock. LS = Low Sulpur. 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.
Luanga Phase 1 Drilling Progress
The Phase 1 diamond drill program continues as planned at Luanga. With six drill rigs on site, with drilling
progressing in various locations along the entire 7km strike length of the known Luanga mineralized envelope (as
defined by historic drilling), including to the north where high -grade massive sulphide nickel/copper
mineralization was intersected in hole DDH22LU047 (see August 16th, 2022 news release). Drilling on the next drill
section to the north of DDH22LU047 has commenced. Surface FLTEM surveying is expected to start soon, to the
south of the massive sulphide intercept. To date, 71 drill holes have been completed, for a total of 11,770 metres
from the planned 25,500 metre Phase 1 drill program.
NEWS RELEASE
13 September 2022
4 | P a g e
Location of Historic Drill Hole Results Discussed in this Report
NEWS RELEASE
13 September 2022
5 | P a g e
Section Showing PPT-LUAN-FD0021
NEWS RELEASE
13 September 2022
6 | P a g e
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 ag ricultural 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
13 September 2022
7 | P a g e
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 “encouraged”, “correlates”, “confidence”, “success”, “potential”,
“prioritize”, “, 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 arrival of geophysical equipment and the results
of such surveys; the potential for the definition o new styles of mineralization and extensions to depth and the
Company’s plans in respect thereof. Forwa rd-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 resu lts 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, environmen tal 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 pot ential 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 rele ase 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
13 September 2022
8 | P a g e
Schedule 1: Drill Hole Collar Details
HOLE-ID Company East (m) North (m) RL (m) Datum Depth (m) Azimuth Dip
PPT-LUAN-FD0010 Vale SA 659541.88 9342973.84 280.09 SIRGAS2000 UTM22S 90.35 90.00 -60.00
PPT-LUAN-FD0012 Vale SA 659642.87 9342776.66 307.49 SIRGAS2000 UTM22S 90.35 90.00 -60.00
PPT-LUAN-FD0014 Vale SA 658749.75 9340975.61 230.92 SIRGAS2000 UTM22S 200.65 330.00 -60.00
PPT-LUAN-FD0021 Vale SA 656951.00 9339616.18 275.43 SIRGAS2000 UTM22S 90.35 360.00 -60.00
PPT-LUAN-FD0026 Vale SA 659541.02 9342975.77 278.49 SIRGAS2000 UTM22S 110.00 270.00 -60.00
Schedule 2: Assay Methodologies and QAQC
Samples followed chain of custody between collection, processing and delivery to the ALS laboratory in
Parauapebas, state of Par á, 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. 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. Additional
information 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 the table
below, 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 ar e blindly 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
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