Results Include 11m @ 2.04% Nickel + 1.23% Copper (PGM Results
Pending)
VANCOUVER, BC, Aug. 16,
2022 /CNW/ - Bravo Mining Corp. (TSX.V:
BRVO), ("Bravo" or the "Company") today
announced high grade nickel and copper assay results from the
previously released diamond drill hole DDH22LU047 at 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. The
high-grade intercept of 11.04m
grading 2.04% nickel and 1.23% copper occurs in massive and
semi-massive sulphides – a style of mineralization not previously
observed at Luanga, increasing the target type potential at the
project. Palladium, platinum and rhodium assay results are
pending.
Highlights:
- 11.04m @ 2.04% nickel and
1.23% copper, from 131.11m
-
- Including 4.54m @ 2.77% nickel
and 1.23% copper, from 132.26m
- And including 0.80m @ 10.82%
copper and 0.98% nickel, from 136.80m
- Contractors arriving onsite this week to commence Downhole
Transient Electromagnetic ("DHTEM") surveying at Luanga, starting
with DDH22LU047
- Palladium, platinum and rhodium results are pending
"As announced in Bravo's August
3rd, 2022 news release, high-grade
nickel-copper mineralization at these concentrations, has not been
observed previously at Luanga and could represent a new type of
mineralisation that occurs within the Luanga PGM deposit, or a
potential indication of feeder zones," said Luis Azevedo, Chairman and CEO of Bravo. "DHTEM
surveying will commence shortly, which should allow us to vector in
on the continuation of high-grade nickel/copper massive sulphides,
guiding follow-up drilling."
Luanga Drill
Program
The Phase 1 diamond drill program continues as planned at
Luanga. With six drill rigs on site, drilling is now in
progress in various locations along the entire 7km strike length of
the known mineralization, including to the north where the latest
and final surface access agreements were recently signed (see
August 2, 2022 news release).
Phase 1 drilling is designed to confirm, infill and step out
from the previously defined PGM+Au+Ni mineralization in order to
increase confidence in the geological model and provide the basis
for future mineral resource estimates. Additionally, drilling will
target potential extensions to the mineralization at depth, as well
as exploration targets at Luanga.
Complete Table of Assay Results
HOLE-ID
|
From
(m)
|
To
(m)
|
Thickness
(m)
|
Ni
(%)
|
Cu
(%)
|
Pd
(g/t)
|
Pt
(g/t)
|
Rh
(g/t)
|
Au
(g/t)
|
TYPE
|
DDH22LU047
|
131.11
|
142.15
|
11.04
|
2.03
|
1.23
|
Pending
|
FR
|
Including
|
132.26
|
136.80
|
4.54
|
2.77
|
0.54
|
Pending
|
FR
|
Including
|
136.80
|
137.60
|
0.80
|
0.98
|
10.82
|
Pending
|
FR
|
- 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 90% of true
thickness.
- FR = Fresh Rock.
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 "confirm", "designed", "increase
confidence", "interpreted", "pending", 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.
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 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 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
|
|
DDH22LU047
|
Bravo
|
659899.99
|
9342475.05
|
275.18
|
SIRGAS2000
UTM22S
|
170.05
|
090
|
-60
|
|
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. IN this case
a split is collected by Bravo staff and securely delivered to the
Intertek laboratory in Parauapebas where it was assayed by high
priority for ore grade Ni and Cu.
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
|
|
|
|
|
|
|
|
|
|
Bravo
Intertek
|
|
|
Method
|
|
|
|
|
Ni, Cu
Sulphide
|
|
|
Ni-ICP05
|
|
|
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SOURCE Bravo Mining Corp.