VANCOUVER, BC, Sept. 11, 2023 /CNW/ - Bravo Mining Corp. (TSXV: BRVO) (OTCQX: BRVMF), ("Bravo" or the "Company") announced that it has received the final data from its helicopter based (HeliTEM) electromagnetic (EM) geophysical survey over 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.
"Bravo's HeliTEM has shown to be productive and highly encouraging, defining a significant number of EM anomalies. Following ground truthing and further examination in conjunction with Bravo's micro-gravity and ground magnetics geophysical dataset and the latest detailed geological and structural interpretations, 17 Priority Drill Targets have been selected for systematic drill testing," said Luis Azevedo, Chairman and CEO of Bravo. "EM plate modelling and drill hole design has started with drilling anticipated to commence soon. To that end, we have sourced an additional two drill rigs, bringing the total on site to six."
- A HeliTEM geophysical survey (Figure 1) targeting massive sulphide mineralization that potentially could contain nickel ± copper, was completed over the Luanga project (7,810ha).
- Numerous of EM anomalies have been identified in the survey, which includes 16 Priority One Anomalies and 16 Priority Two Anomalies. The remainder are lower priority anomalies.
- From these anomalies, 17 Priority Drill Targets have been selected to be tested in the first round of drilling.
- Work is now underway to create plate models and design proposed drill holes to test them.
- Detailed ground micro-gravity and magnetic surveys have also been completed and utilised in this work.
- Six drill rigs are now on-site, of which two will be assigned to the pending EM exploration drilling once ready.
Final data has been received from the HeliTEM (airborne electromagnetics) survey completed over the entire (7,810ha) Luanga project (Figure 4). Initial target identification and ranking has been completed, identifying a numerous EM anomalies including 16 Priority One anomalies, 16 priority two anomalies, with the remainder being low order anomalies.
Priority 1 and 2 anomalies were ranked using the newly completed ground micro-gravity and magnetic surveys, together with Bravo's latest detailed geological and structural interpretations, soil geochemistry data and the existing drilling database. From this work 17 Priority Drill Targets have been selected (Figure 2 and 3).
The Priority Drill Targets are all comprised of strong EM anomalies, which coincide with favourable ultramafic positions below or close to the previously identified main Luanga PGM+Au+Ni mineralization, or are proximal to (T6, T7, T8 and T9) the ultramafic which strikes East from Luanga and/or have favourable Ni/Cu soil geochemistry.
Detailed interpretation, including EM plate modelling and drill hole design has started, with drilling set to commence as soon as possible. Bravo has 2 drill rigs ready (of the 6 rigs now on site) available for this work.
The Phase 2 Drilling Program targeting the continuation of PGM+Au+Ni mineralization to approximately 300m below surface, or twice as deep as Phase 1 or historical drilling, continues to progress well.
A total of 213 drill holes (78 in 2023) have been completed by Bravo to date, for 42,996 metres, including 8 planned twin holes and 8 metallurgical holes (not subject to routine assaying). Results have been reported for 186 Bravo drill holes to date. Results for 19 Bravo drill holes are currently outstanding (excluding the 8 metallurgical holes).
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. A fully funded 63,000m infill, step out and exploration drilling is currently underway. 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 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.
This news release contains forward-looking information which is not comprised of historical facts. Forward-looking information is characterized by words such as "encouraging", "potential feeder", "continue", "potential", "favourable", or variants of these words and other similar words, phrases, or statements that certain events or conditions "may", "should" or "will" occur. This news release contains forward-looking information pertaining to the Company's ongoing drill program and the results thereof including the potential for extensions to mineralization to depth and the potential to convert such extensions into mineral resources; the results of geophysical surveys and whether interpretations of them are related to mineralization; 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, 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 Ni 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: HeliTEM Survey Specifications
Off time Channels
560,000 Am2 (@+1°C)
Base Station/System Clock
Scintrex CS-3 Cesium Vapor
15 - 105 nT
SOURCE Bravo Mining Corp.
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