News Releases

Highlights include 19.8m @ 7.1g/t PGM+Au
 And 50.9m @ 2.64g/t PGM+Au plus 0.30% Ni
And 30.5m @ 3.09g/t PGM+Au plus 0.30% Ni

VANCOUVER, January 18, 2022 – Bravo Mining Corp. (TSX.V: BRVO, OTCQX: BRVMF), (“Bravo” or the “Company”) today announced that it has received assay results from an additional 13 infill diamond drill holes (“DDH”) from its Luanga palladium + platinum + rhodium + gold + nickel project (“Luanga” or “Luanga PGM+Au+Ni”), located in the Carajás Mineral Province, state of Pará, Brazil.

“The southern extent of the Central Zone at Luanga continues to show thick, high-grade mineralized intersections (including higher levels of nickel sulphide) in an area that was previously sparsely drilled with only shallow holes on 200m spaced sections. Intersections in previously released drill holes DDH22LU040 (52.9m @ 2.14g/t PGM+Au plus 0.27% Ni from 36.6m) and DDH22LU042 (67.3m @ 1.35g/t PGM+Au plus 0.28% Ni from 47m) are further supported by wide high-grade intersections in DDH22LU053 (50.9m @ 2.64g/t PGM+Au plus 0.30% Ni, from 90.5m), DDH22LU058 (30.5m @ 3.09g/t PGM+Au plus 0.30% Ni, from 115.4m), and DDH22LU059 (17.1m @ 3.97g/t PGM+Au plus 0.22% Ni, from 17.2m), ” said Luis Azevedo, Chairman and CEO of Bravo. “These sections all remain open at depth, representing a substantial upside opportunity. This part of the Central Zone at Luanga is an ideal location for the first deeper drilling, as part of our Phase 2 Drilling Program, given evidence of significantly improving grades and widths at depth, coupled with higher-than-expected nickel sulphide grades.”

Highlights

• Highlights of Bravo’s most recent intercepts are tabulated below, with details attached:

Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.

Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 85% of true thickness.

Type: Ox = Oxide. LS = Low Sulphur. 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.

* Includes Rh >1.00g/t result. Overlimit analyses pending.

** Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays.
 

• 138 drill holes (3 holes in 2023) have been completed by Bravo to date, for a total of 23,265 metres (or 91% of the planned 25,500 metre Phase 1 Drilling Program), including all 8 planned twin holes and all 8 planned metallurgical (“Met") holes.
• Results reported for 52 Bravo drill holes to date. Results for 78 Bravo drill holes remain outstanding.

Luanga Drill Program

The Phase 1 diamond drill program is close to completion, with 2,235m remaining before the commencement of the Phase 2 diamond drill program, which will be focused on step out drilling and extending known zones of mineralization at depth.  Phase 2 will also include drill testing geophysical targets from the ongoing ground electromagnetic geophysical program and the planned micro-gravity geophysical program.  Drilling for 2023 started after the end of year break, with four drill rigs currently operating on site given the significant backlog of assays and higher drill production rates later in 2022.

Results from Luanga’s Central Zone continue to show wide high-grade mineralized intersections (including high nickel sulphides) in an area that was previously drilled with shallow holes on wide spaced sections. All sections remain open at depth (see plan and sections below), presenting a substantial upside opportunity and an ideal location for planned Phase 2 deeper drill testing.

Central Zone (Southern end) – Showing New Results Open at Depth, Compared to Existing Drilling.

Updated Section – DDH22LU046 up dip of DDH22LU042 (open at depth).

New Drill Section – Showing DDH22LU058 High-Grade PGM+Au, plus Ni (open at depth).

New Drill Section – Showing DDH22LU059 High-Grade PGM+Au, plus Ni (open at depth).

Complete Table of Recent Intercepts

Notes: All ‘From’, ‘To’ depths, and ‘Thicknesses’ are downhole.

Given the orientation of the hole and the mineralization, the intercepts are estimated to be 75% to 85% of true thickness.

Type: Ox = Oxide. LS = Low Sulphur. 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.

* = Includes Rh >1.00g/t result. Overlimit analyses pending.

** = Bravo’s nickel grades are sulphide nickel, and do not include non-recoverable silicate nickel, unlike historic total nickel assays

Results from Bravo’s drilling continue to show the same as trend noted previously, with results comparing well with, or exceed intercepts in historic drill holes on nearby drill sections, in both tenor and mineralized thickness. Hole DDH22LU044 was collared on an exploration target far from the mineralized horizon. Hole DDH22LU035 was drilled too far east, starting in footwall rocks below the mineralized zone, before exiting the Luanga complex and intersecting low grade copper mineralisation associated with hydrothermal alteration.

Location of Bravo Drilling Reported in this News Release

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.

For further information about Bravo, please visit www.bravomining.com or contact:

Alex Penha
EVP Corporate Development
info@bravomining.com

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 “exceptional”, “high-grade”, “substantial upside”, “opportunity”, “significantly improving”, “higher-than-expected”, “exceed”, “excellent” and other similar words, phrases, or statements that certain events or conditions “should” or “will” occur. This news release contains forward-looking information pertaining to the Company’s ongoing re-assay and drill programs and the results thereof; the expected completion of geophysical surveys 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 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

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.