Highlights include 11.0m @
6.50g/t PGM + Au (including 0.34g/t Rhodium), and 0.32% Ni
Sulphide, and 8.6m
@ 6.45g/t PGM + Au (including 0.36g/t Rhodium)
VANCOUVER, BC, July 26,
2022 /CNW/ - Bravo Mining Corp. (TSXV:
BRVO), ("Bravo" or the "Company") today
announced it has received assay results from a further five diamond
drill holes ("DDH") (four infill drill holes and one twin drill
hole), bringing the total to 42 drill holes (including four twin
drill holes) completed to date at its wholly owned Luanga platinum
group metals (palladium + platinum + rhodium) + gold + nickel
(PGM+Au+Ni) project ("Luanga"), located in the Carajás
Mineral Province, state of Pará, Brazil. Samples for a further 15 drill holes
are already at the laboratory for analysis.
"We are very pleased with the successful launch of Bravo
Mining on the TSXV, especially given current market conditions, and
believe this underscores the quality of the Luanga Project and its
management team. Results from our Luanga Phase 1
(25,500m) confirmation, infill, step
out and twin hole drill program continue to both support the
historical results and build our ongoing confidence in the Luanga
deposit", said Luis Azevedo,
Chairman and CEO of Bravo. "We look forward to providing regular
updates as our drilling and re-assay programs continue to ramp up,
and our metallurgical and environmental baseline programs get
underway."
Highlights
- 42 DDH drilled to date, including 4 twin holes, for a total of
6,678m out of Phase 1 25,500m drilling program;
- 5,833 samples submitted for assay and results pending for 15
DDH;
- 5 drill rigs onsite; to be increased to 6 in August 2022;
- Assay results of the twin hole (the third of seven planned twin
holes) closely correlate with the immediately adjacent VALE SA
historic ("historic" or "historical") drill hole in both tenor and
mineralized thickness, while assays from the four planned drill
holes aimed at infilling the existing wide spaced drilling, confirm
the tenor, widths and continuity of mineralization seen in adjacent
historic drill sections;
- Highlights of Bravo's intercepts are tabulated below, with
details 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
|
DDH22LU003
|
33.2
|
70.0
|
36.8
|
1.53
|
0.70
|
0.10
|
0.30
|
0.17
|
2.64
|
FR
|
And
|
89.0
|
94.2
|
5.2
|
1.51
|
0.72
|
0.11
|
0.17
|
0.15
|
2.52
|
FR
|
DDH22LU004
|
78.6
|
91.6
|
13.0
|
1.63
|
0.77
|
0.14
|
0.06
|
0.13
|
2.60
|
FR
|
DDH22LU007
|
105.6
|
131.0
|
25.4
|
2.17
|
1.11
|
0.19
|
0.17
|
0.20
|
3.64
|
FR
|
Including
|
120.0
|
131.0
|
11.0
|
3.84
|
1.98
|
0.34
|
0.33
|
0.32
|
6.50
|
FR
|
DDH22LU008
|
0.0
|
8.6
|
8.6
|
3.39
|
2.66
|
0.36
|
0.03
|
NA
|
6.45
|
Ox
|
And
|
27.6
|
42.6
|
15.0
|
0.82
|
0.34
|
0.07
|
0.03
|
NA
|
1.25
|
Ox
|
Including
|
32.6
|
42.6
|
10.0
|
1.09
|
0.41
|
0.07
|
0.04
|
NA
|
1.60
|
Ox
|
- All 'From', 'To' depths, and 'Thicknesses'
are downhole.
- Given the orientation of the holes and
the mineralization, the intercepts are estimated to range from
~75 to 90% of true thickness.
- Ox = Oxide. FR = Fresh Rock.
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 Drill
Program
The Phase 1 drill program at Luanga is designed to confirm,
infill and step out from the previously defined mineralization in
order to increase confidence in the geological model and provide
the basis for future mineral resource estimates.
As part of the Phase 1 program, Bravo has received final assay
results (including palladium, platinum, rhodium, gold and nickel
sulphide) for the third twin hole and the first four infill drill
holes (shown below and listed in Schedule 1). Samples were
submitted to ALS Brasil Limitada's ("ALS") preparatory
laboratory in Parauapebas, located approximately 72km from Luanga,
and then sent to their laboratories in Peru and Vancouver for assaying (Schedule 2).
Drilling by Bravo on new infill sections has, in several parts
of the Luanga deposit, intersected zones containing significant
amounts of coarser disseminated sulphides not previously observed
in historic drilling. An example is shown in the photo below
of samples from drill hole DDH22LU039 (assays pending). In some
cases, these zones also include narrow bands of semi-massive
sulphides. Pending assay results will determine how these zones
correlate to grades.
A comparison of the original historic intercept with the Bravo
twin hole intercept is tabulated below. Bravo's twin hole intercept
closely correlates with the adjacent historic drill hole in both
thicknesses and grade, noting that Bravo nickel grades are for
sulphide nickel which is representative of actual potentially
recoverable (by froth flotation treatment) nickel, and does not
include non-recoverable silicate nickel whereas VALE's assays were
total nickel, including both sulphide and non-recoverable silicate
nickel.
Comparison of assay results from
Bravo twin diamond drill hole of historic VALE SA diamond drill
hole
TWIN of Historic
Hole PPT-LUAN-FD0069
|
HOLE-ID
|
From
(m)
|
To
(m)
|
Thickness
(m)
|
HISTORIC
SGS
PGM + Au
(g/t)
|
BRAVO
ALS
PGM + Au
(g/t)
|
DDH22LU007
|
105.6
|
131.0
|
25.35
|
|
3.64
|
PPT-LUAN-FD0036
|
99.0
|
124.0
|
25.00
|
3.88
|
|
- All From/To depths, and Thicknesses
are downhole.
- Given the orientation of the holes and
the mineralization, the intercepts are estimated to range from
~75 to 90% of true thickness.
|
Drilling Progress
Bravo now has five diamond drill rigs operating at Luanga, with
the sixth rig off site for servicing. The Phase 1 drill program is
focused on confirming the results of the extensive historic
drilling that included 252 core holes aggregating 50,353m completed by the previous owner in the
early 2000s. The footprint of the Luanga deposit encompasses
238 of these holes. Bravo has now completed 42 holes (aggregating
6,678m of drilling) including four
twin holes. Holes are being systematically logged, sampled and sent
for assay. To date, 5,833 samples have been submitted for assay.
Assay results are currently pending for 15 drill holes.
Drill holes DDH22LU003, 004, 007 and 008 all successfully
intersected the main Luanga mineralized zone, which lies at the
contact between the mafic and ultramafic rock sequences, confirming
the tenor, width and continuation of mineralization seen in nearby
wide spaced historic drill sections. DDH22LU008 was collared on top
of the main mineralized zone, intersecting grade from surface,
while DDH22LU002 was drilled too far north, intersecting the mafic
sequence in the hangingwall, which still contains low grade zones
of mineralization.
Complete Table of Assay
Results
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
|
DDH22LU002
|
99.6
|
131.0
|
32.4
|
0.24
|
0.27
|
0.03
|
<0.01
|
<0.01
|
0.54
|
FR
|
DDH22LU003
|
0.0
|
2.4
|
2.4
|
0.71
|
0.28
|
0.05
|
0.07
|
NA
|
0.92
|
Ox
|
And
|
25.4
|
28.2
|
2.8
|
0.57
|
0.25
|
0.04
|
0.07
|
NA
|
0.92
|
Ox
|
And
|
33.2
|
70.0
|
36.8
|
1.53
|
0.70
|
0.10
|
0.30
|
0.17
|
2.64
|
FR
|
And
|
75.0
|
82.0
|
7.0
|
0.20
|
0.09
|
0.02
|
0.06
|
0.13
|
0.37
|
FR
|
And
|
89.0
|
94.2
|
5.2
|
1.51
|
0.72
|
0.11
|
0.17
|
0.15
|
2.52
|
FR
|
And
|
115.5
|
138.0
|
22.5
|
0.24
|
0.21
|
0.01
|
<0.01
|
<0.01
|
0.47
|
FR
|
DDH22LU004
|
78.6
|
91.6
|
13.0
|
1.63
|
0.77
|
0.14
|
0.06
|
0.13
|
2.60
|
FR
|
And
|
60.6
|
76.6
|
16.0
|
0.24
|
0.13
|
0.02
|
0.04
|
0.06
|
0.42
|
FR
|
And
|
126.6
|
130.2
|
3.6
|
0.24
|
0.75
|
0.12
|
<0.01
|
<0.01
|
1.11
|
FR
|
DDH22LU007
|
100.6
|
131.0
|
30.4
|
1.90
|
0.97
|
0.17
|
0.14
|
0.20
|
3.19
|
FR
|
Including
|
105.6
|
131.0
|
25.4
|
2.17
|
1.11
|
0.19
|
0.17
|
0.20
|
3.64
|
FR
|
Including
|
120.0
|
131.0
|
11.0
|
3.84
|
1.98
|
0.34
|
0.33
|
0.32
|
6.50
|
FR
|
DDH22LU008
|
0.0
|
8.6
|
8.6
|
3.39
|
2.66
|
0.36
|
0.03
|
NA
|
6.45
|
Ox
|
And
|
27.6
|
42.6
|
15.0
|
0.82
|
0.34
|
0.07
|
0.03
|
NA
|
1.25
|
Ox
|
Including
|
32.6
|
42.6
|
10.0
|
1.09
|
0.41
|
0.07
|
0.04
|
NA
|
1.60
|
Ox
|
- All From To depths, and Thicknesses
are downhole
- Given the orientation of the holes and
the mineralization, the intercepts are estimated to range from
~75 to 90% of true thickness.
- Ox = Oxide. FR = Fresh Rock.
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.
|
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.
Bravo was founded by a management team and board with extensive
Brazilian and PGM exploration, permitting, project financing,
construction and operating experience. This includes Luis Azevedo, Executive Chairman & CEO;
Simon Mottram, President;
Alex Penha, EVP Corporate
Development; and Independent Directors, Dr. Nicole Adshead-Bell (Lead Director),
Stuart Comline, Tony Polglase and Stephen Quin.
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.
Historical Information
This news release includes historical drilling and historical
assay results generated by the prior owner of Luanga that have been
reviewed by the Company's geological team. The Company's review of
the historical records and information reasonably substantiate the
validity of the historical information presented in this news
release; however, the Company cannot directly verify the accuracy
of the historical data, including the procedures used for sample
collection and analysis. Therefore, the Company encourages
investors to exercise appropriate caution when evaluating the
historical results. Further data review, drilling of twin holes and
infill drilling is underway in order to verify the validity of the
data for use, alongside Bravo's new drilling and re-assay data, in
any future NI 43-101 compliant mineral resource estimate.
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 "closely", "confirm",
"continuity", "correlate", "designed", "determine", "increase
confidence", "look forward", "pending", "ramp up" and other similar
words, phrases or statements that certain events or conditions
"may" or "will" occur. In particular, this news release contains
forward-looking information pertaining to the Company's ongoing
re-assay and drill programs; the expected arrival of additional
drill rigs and delivery of historic core; and the Company's plans
in respect 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,
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
additional drill rigs and historic core will arrive within the
anticipated timeframe; 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
|
|
|
DDH22LU002
|
Bravo
|
657099.99
|
9339714.97
|
277.355
|
SIRGAS2000
UTM22S
|
152.35
|
360.00
|
-60.00
|
|
DDH22LU003
|
Bravo
|
657199.98
|
9339715.45
|
254.52
|
SIRGAS2000
UTM22S
|
150.50
|
360.00
|
-60.00
|
|
DDH22LU004
|
Bravo
|
657300.03
|
9339777.59
|
252.05
|
SIRGAS2000
UTM22S
|
203.40
|
360.00
|
-60.00
|
|
DDH22LU007
|
Bravo
|
659092.89
|
9341002.10
|
241.231
|
SIRGAS2000
UTM22S
|
230.40
|
330.00
|
-60.00
|
|
DDH22LU008
|
Bravo
|
659827.13
|
9341623.78
|
242.572
|
SIRGAS2000
UTM22S
|
150.60
|
330.00
|
-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 Pará,
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
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. 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 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
|
|
|
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
|
|
|
|
|
|
|
|
SOURCE Bravo Mining Corp.