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, BC, April 4,
2023 /CNW/ - Bravo Mining Corp. (TSXV: 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 intercept 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 geophysical 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 gravity 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.
|
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.
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 infill 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,
whilst 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.
DDH22LU088 and DDH22LU098 shown in the section below (Figure 4),
encountered 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.
Luanga Drill Program Progress
A total of 165 drill holes (30 in 2023) have been completed by
Bravo to date, for 28,674 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.
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
|
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.
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 "allow", "pattern",
"evidence", "potential", "fast-track", "focus", "significant",
"prioritize", "prospective", "increasing presence",
"extension", "suggest", "seek", "unlock", "vector"
variations of these words and other similar words, phrases, or
statements that certain events or conditions "may", "should",
"will" or "would" occur. This news release contains forward-looking
information pertaining to the Company's ongoing drill programs and
the results thereof; the expected completion of geophysical surveys
and the results of such surveys; the potential for mineralized
extensions to depth at Luanga; the potential for nickel sulphide
mineralization and the Company's plans in respect thereof, and
plans for completing a mineral resource estimate and the timing and
results 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,
unexpected results from exploration programs, 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 that the
interpreted mineralization contains significant values of nickel,
PGMs and Au; that the mineralization remains open to depth, that
grades are improving to depth, that 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 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 intention or
obligation to update or revise any forward-looking information,
other than as required by applicable securities laws.
Schedule 1: Drill Hole Collar Details
HOLE-ID
|
Company
|
East
(m)
|
North
(m)
|
RL
(m)
|
Datum
|
Depth
(m)
|
Azimuth
|
Dip
|
Sector
|
DDH22LU071
|
Bravo
|
659999.92
|
9342125.03
|
278.85
|
SIRGAS2000
UTM22S
|
269.70
|
90.00
|
-60.00
|
North
|
DDH22LU080
|
Bravo
|
659900.26
|
9342025.03
|
254.09
|
SIRGAS2000
UTM22S
|
265.05
|
90.00
|
-60.00
|
North
|
DDH22LU087
|
Bravo
|
659999.97
|
9342225.03
|
274.29
|
SIRGAS2000
UTM22S
|
220.20
|
90.00
|
-60.00
|
North
|
DDH22LU088
|
Bravo
|
659874.86
|
9342274.98
|
239.38
|
SIRGAS2000
UTM22S
|
172.50
|
90.00
|
-60.00
|
North
|
DDH22LU098
|
Bravo
|
659800.16
|
9342275.03
|
237.42
|
SIRGAS2000
UTM22S
|
250.35
|
90.00
|
-60.00
|
North
|
Schedule 2: Assay Methodologies and QAQC
Samples follow a chain of custody between collection,
processing, and delivery to the ALS laboratory in Parauapebas,
state of Pará, Brazil. The drill
core is delivered to the core shack at Bravo's Luanga site
facilities and processed by geologists who insert certified
reference materials, blanks, and duplicates into the sampling
sequence. Drill core is half 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 ALS global website (ALS) in the analytical guides.
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
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
|
Method
|
For All
Elements
|
Pt, Pd,
Au
|
Rh
|
Ni-Sulphide
|
Cu
|
Trace
Elements
|
PREP-31DH
|
PGM-ICP27
|
Rh-MS25
|
Ni-ICP05
|
OG-62
|
ME-ICP61
|
SOURCE Bravo Mining Corp.