De-risked future permitting process for
Luanga; Surface Access Agreements for 100% of Luanga
Deposit
VANCOUVER, BC, Aug. 2, 2022
/CNW/ - Bravo Mining Corp. (TSXV: BRVO), ("Bravo" or
the "Company") is pleased to announce that its Luanga
platinum group metals (palladium + platinum + rhodium) + gold +
nickel (PGM+Au+Ni) project ("Luanga"), located in the
Carajás Mineral Province, state of Pará, Brazil is now part of the Brazilian
Government's "streamlined" licencing process that shortens and
de-risks the permitting process for any future mining
development. In addition, the Company has now secured land
access agreements over 100% of the Luanga mineralized envelope.
Highlights
- Luanga was added to the Brazilian Government's list of
Strategic Metals Projects (refer to June 20,
2002 press release
https://bravomining.com/pdf/2022-06-20-Bravo-PR-Strategic-Minerals-Project-Selectio.pdf)
- Subsequently, SEMAS (Secretaria de Estado de Meio Ambiente e
Sustentabilidade) has issued the environmental "Terms of Reference"
for Luanga, which simplifies and accelerates the work and time
required to obtain environmental licencing for future project
implementation
- The Government's "streamlined" licencing process is available
to Luanga for the next 5 years, de-risking the future permitting
process for any mining development at Luanga
- Executed land access agreements are now in place for 100% of
the Luanga mineralized envelope
On March 16, 2022, the Company
submitted a request for the Term of Reference before SEMAS, Pará
State, for the commencement of the environmental licensing process.
Since the project is close to three existing operating mines
that have completed large environmental surveys, is an anthropized
area with no special protection requirements, has no native forest
and no communities within a 10km radius, SEMAS granted the Term of
Reference on July 15, 2022.
SEMAS confirmed that data collection for environmental
surveys can be performed in a single campaign, held at the
transition between the dry season and wet season. This will
simplify and shorten the time to complete the EIA/RIMA
(Environmental Impact Study and Report) and will facilitate a
streamlined process for obtaining future environmental permits for
the implementation of any mining project and its associated
infrastructure.
"We are very pleased that Luanga was recognized on the
Brazilian Government's list of Strategic Metals Projects and is
eligible for a streamlined permitting process, materially
de-risking future project development," said Luis Azevedo, Chairman and CEO of Bravo.
"Additionally, execution of the surface access agreements over the
northern extent of Luanga means we now have agreements in place for
100% of the Luanga's mineralized envelope and allows us to
aggressively advance our drilling program over the entirety of the
7km mineralized trend.
Luanga Drill
Program
The Phase 1 diamond drill program continues as planned at
Luanga. With 6 drill rigs on site, drilling is now in progress in
various locations along the entire strike length of the project,
including to the north where the latest and final access agreements
were recently signed. The figure below shows the updated coverage
of drill access agreements.
Phase 1 drilling 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. Additionally, deeper drilling will
target extensions and exploration targets at Luanga.
Current Status of Access Agreements in Place at Luanga
Showing All Drilling to Date
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.
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 "advance", "accelerate",
"confirm", "design", "de-risk", "increase confidence", "shorten",
"simplify", "streamline" 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 drill program; 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,
delays in obtaining required regulatory or governmental approvals
including the effectiveness of the streamlined permitting process,
environmental risks, continued access to surface rights held by
third parties, where required, 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.
SOURCE Bravo Mining Corp.