Bravo’s Re-assay Program Continues to Confirm High PGM + Au Grades at Luanga
NEWS RELEASE
27 September 2022
1 | P a g e
Bravo’s Re-assay Program Continues to Confirm High PGM + Au Grades at Luanga
Highlights include: 16m @ 9.4g/t PGM + Au, with 9m @ 14.5g/t PGM + Au (with 0.5g/t Rh)
And: 6m @ 7.6g/t PGM + Au, including 2m @ 20.5*g/t PGM + Au (with >1.0*g/t Rh)
VANCOUVER, September 27, 2022 – Bravo Mining Corp. (TSX.V: BRVO), (“Bravo” or the “ Company”) today
announced that it has received results from the re-analysis of samples from an additional eight historic diamond
drill holes (“DDH”) from its wholly owned Luanga palladium + platinum + rhodium + gold + nickel project (“Luanga”
or “Luanga PGM+Au+Ni”), located in the Carajás Mineral Province, state of Pará, Brazil.
“With re-assay results received from 36 historic drill holes to date, an emerging positive trend has been observed
in respect of overall PGM+Au grades, with greater than 80% of re -assay intersections received to date returning
better grades as compared to historic results of approximately 20 years ago .” said Luis Azevedo, Chairman and
CEO of Bravo. “We will continue to assess this emerging grade trend as, if maintained in the remaining holes to be
re-assayed, it could clearly have a positive impact on future mineral resource estimates.
Highlights
▪ Assay results from the re -assaying of samples from historic drilling continue to correlate closely with the
historic assay results, in both tenor and mineralized thicknesses, but with the grade of more than 80% of the
re-assayed intercepts exceeding the historic intercepts over comparable thicknesses.
▪ Highlights of Bravo’s most 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)
PGM + Au
(g/t)
Ni %
(Sulphide) Type
PPT-LUAN-FD0035 3.0 19.0 16.0 5.78 2.79 0.35 0.47 9.39 NA Ox
Including 6.0 15.0 9.0 8.94 4.28 0.47 0.79 14.48 NA Ox
PPT-LUAN-FD0060 0.0 41.0 41.0 0.98 0.45 0.05 0.03 1.52 NA Ox
Including 18.0 41.0 23.0 1.17 0.59 0.05 0.04 1.85 0.32 FR
PPT-LUAN-FD0065 21.0 27.0 6.0 0.95 6.16 0.46 0.01 7.57 NA Ox/LS
Including 25.0 27.0 2.0 2.28 17.06 >1.00* 0.01 20.45 NA Ox/LS
PPT-LUAN-FD0071 0.0 13.0 13.0 2.20 1.22 0.20 0.14 3.76 NA Ox
Including 0.0 8.0 8.0 3.35 1.44 0.30 0.21 5.70 NA 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 ~80 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.
* = Preliminary results; overlimit analyses pending.
▪ 77 drill holes have been completed , for a total of 13,051 metres (or 51% of Phase 1 Drilling Program) .
Currently, samples from 30 drill holes are at the laboratory pending results.
▪ 12,632 samples submitted for assay to date including 2,945 re-assay samples from historic drill core.
▪ 6 drill rigs operating onsite.
NEWS RELEASE
27 September 2022
2 | P a g e
Luanga Re-Assay and Phase 1 Drilling Progress
A comparison of the historic intercepts with the Bravo re -assay results is tabulated below , with a plan showing
their locations and drill sections provided for (PPT-LUAN-) FD0035, FD0053, and FD0071. Bravo’s re-assay results
continue to closely correlate to the historic intercepts, in both thicknesses and grade . Importantly, the grade of
the re-assayed intercepts exceeds that of the historic intercept over comparable thicknesses in over 80% of the
intercepts re -assayed to date . This is most likely related to improved assay methods for PGMs versus those
available over 20 years ago.
The Phase 1 diamond drill program continues as planned at Luanga. Six drill rigs are 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). To date, 77 drill holes have been completed, for a total of 13,051 metres of the
planned 25,500 metre Phase 1 drill program.
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-FD0029 63.0 76.0 13.0 1.04 1.13 0.12 0.09 FR
And 91.0 120.0 29.0 0.62 0.78 0.05 0.04 FR
PPT-LUAN-FD0030 85.0 95.0 10.0 1.44 1.63 0.20 0.15 FR
PPT-LUAN-FD0035 3.0 19.0 16.0 9.32 9.39 0.14 NA Ox
Including 6.0 15.0 9.0 14.18 14.48 0.19 NA Ox
PPT-LUAN-FD0053 0.0 12.0 12.0 0.88 1.12 0.13 NA Ox
And 16.0 25.0 9.0 1.65 1.93 0.05 NA Ox
PPT-LUAN-FD0058 0.0 8.0 8.0 1.66 2.03 0.09 NA Ox
PPT-LUAN-FD0060 0.0 41.0 41.0 1.41 1.52 0.22 NA Ox
Including 18.0 41.0 23.0 1.66 1.85 0.26 0.32 FR
And 80.0 85.0 5.0 0.99 0.92 0.10 0.07 FR
PPT-LUAN-FD0065 21.0 27.0 6.0 7.74 7.57 0.03 NA Ox/LS
Including 25.0 27.0 2.0 18.29 20.45* 0.04 NA Ox/LS
And 109.0 120.0 11.0 0.85 0.85 0.09 0.09 FR
PPT-LUAN-FD0071 0.0 13.0 13.0 3.69 3.76 0.18 NA Ox
Including 0.0 8.0 8.0 5.66 5.70 0.24 NA Ox
And 101.0 113.0 12.0 0.64 0.75 0.03 0.02 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 ~80 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.
* = Preliminary result, overlimit analyses pending.
** = Note that Bravo’s nickel grades are for sulphide nickel, which is representative of potentially recoverable (by froth flotatio n
treatment) nickel, and does not include non-recoverable silicate nickel, unlike historic total nickel assays.
NEWS RELEASE
27 September 2022
3 | P a g e
Complete Table of New Re-assayed 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
PPT-LUAN-FD0029 63.0 76.0 13.0 0.79 0.28 0.04 0.02 1.13 0.09 FR
And 91.0 120.0 29.0 0.48 0.27 0.01 0.01 0.78 0.04 FR
PPT-LUAN-FD0030 85.0 95.0 10.0 1.17 0.40 0.05 0.02 1.63 0.15 FR
PPT-LUAN-FD0035 3.0 19.0 16.0 5.78 2.79 0.35 0.47 9.39 NA Ox
Including 6.0 15.0 9.0 8.94 4.28 0.47 0.79 14.48 NA Ox
PPT-LUAN-FD0053 0.0 12.0 12.0 0.68 0.38 0.05 0.01 1.12 NA Ox
And 16.0 25.0 9.0 1.31 0.55 0.07 0.01 1.93 NA Ox
PPT-LUAN-FD0058 0.0 8.0 8.0 0.95 0.96 0.11 0.01 2.03 NA Ox
PPT-LUAN-FD0060 0.0 41.0 41.0 0.98 0.45 0.05 0.03 1.52 NA Ox
Including 18.0 41.0 23.0 1.17 0.59 0.05 0.04 1.85 0.32 FR
And 80.0 85.0 5.0 0.60 0.25 0.01 0.06 0.92 0.07 FR
PPT-LUAN-FD0065 21.0 27.0 6.0 0.95 6.16 0.46 0.01 7.57 NA Ox/LS
Including 25.0 27.0 2.0 2.28 17.06 >1.00* 0.01 20.45* NA Ox/LS
And 109.0 120.0 11.0 0.41 0.33 0.07 0.04 0.85 0.09 FR
PPT-LUAN-FD0071 0.0 13.0 13.0 2.20 1.22 0.20 0.14 3.76 NA Ox
Including 0.0 8.0 8.0 3.35 1.44 0.30 0.21 5.70 NA Ox
And 101.0 113.0 12.0 0.17 0.50 0.08 001 0.75 0.02 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 ~80 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.
* = Preliminary result; overlimit analyses pending.
NEWS RELEASE
27 September 2022
4 | P a g e
Location of Historic Drill Hole Results Discussed in this Report
NEWS RELEASE
27 September 2022
5 | P a g e
Section 1 – Showing PPT-LUAN-FD0035
Section 2 – Showing PPT-LUAN-FD0053
NEWS RELEASE
27 September 2022
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Section 3 – Showing PPT-LUAN-FD0071
NEWS RELEASE
27 September 2022
7 | 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 agricultural grazing land. Bravo’s current Environmental, Social and Governance
activities includes replanting tr ees in the project area, hiring and contracting locally, engagement with local
communities, 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
27 September 2022
8 | 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 “confident”, “highly encouraged”, “confirm”, “correlate”, “success”,
“high-grade”, “estimated”, “potentially”, “emerging positive trend” and other similar words, phrases or
statements that certain events or conditions “could”, “should”, or “will” occur. In particular, this news release
contains forward-looking information pertaining to t he Company’s ongoing re -assay and drill programs and the
results thereof; the potential for a continued increase in grades relative to historic assays and the possible impact
on future mineral resource estimates the potential for the definition of new styles of mineralization and extensions
to depth and the Company’s plans in respect thereof. Forward -looking information involves risks, uncertainties
and other factors that could cause actual events, results, and o pportunities 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 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 re-assayed may continue to outperform historic grades; 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 should not be placed o n 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.