Rare Earth Stocks
Bravo Mining (TSX-V: BRVO)(OTC: BRVMF) President Simom Mottram on Potentially Game-Changing EM Survey Results at Luanga PGM+Gold Project, Brazil
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the president of Bravo Mining — Mr. Simon Mottram.
Simon, it's great to have you back on. The last time you and I chatted, we talked about the potential for a survey coming back that lit up like a Christmas tree… and that might have been an understatement! Back then, it was ‘potentially’… and right now, we ‘know’ that there are 17 priority exploration drill targets and then another 16 or 17 of what you call second priority targets.
And so, let's get right into it. I want to get your context on the survey results. I want to get your context on how you're going to approach the drilling. And look, I've told shareholders on the subscriber side of the business that this is headed to a billion-dollar market-cap-plus in short order. So let's get right into the results. Give me your thoughts.
Simon Mottram: Sure. Look, I think you nailed it. I think you hit it on the head the last time we spoke. I mean, it lights up! I'm trying to just think of what I wrote in the press release. I think it was 73 anomalies. But really, I think, as you said before, when you whittle it down, the ones that matter are obviously the 16 Priority One anomalies. And then, there are 16 Priority Two anomalies.
And then, from that, we've distilled that down to 17 priority drill targets. So 17 drill targets… it's not insurmountably large but it's a fair few. But in all fairness, we are happy, and we are committed to go out there and test all 17 targets. No matter what the case is, you don't want to be the guy that misses it.
Gerardo Del Real: Absolutely agree. Tell me how you're going to approach the targets. I know drill rigs were onsite already. I see that you're securing some that are going to be dedicated specifically to this. Can you give us the details there?
Simon Mottram: Well, basically, we’ve already asked the drill contractor for two more rigs, which you would have read in the press release. One of those is already onsite. I think the second one has just turned up, and we'll just keep them busy until we're ready to start drilling the EM targets. So those two rigs are there specifically for doing EM drilling.
Gerardo Del Real: Excellent. You had a news release prior to this one that continued to tease out the fact that you're most likely into a pretty large massive sulfide nickel-copper system to go along with the palladium and PGM metals, plus rhodium and a gold deposit that already exists. That, by the way, as we covered last time, looks to be being duplicated at depth. You're now drilling as far as 300 - 330 meters.
Talk to me a bit about where you are in terms of putting the entire land package together with what you know is there, what you're discovering at depth, and how you're now going to incorporate the potential for this game-changing discovery now that you have all of the data put together.
Simon Mottram: That's a fair bit to cover there, Gerardo! But I think we can probably manage it. Look, I think the Phase-1 program was an outstanding success. We infilled the historical work that had been done, and we repeated it, and we bettered it.
We came back with a lot of results that were better than the original. And even the historic holes that we re-assayed, they came back as good, if not better. And then, obviously, we have the additional rhodium, which is not in that original historical resource. And you've got those upsides.
You've seen the drilling now… we're getting down towards 300 meters and even maybe a couple holes are a little bit past it. Obviously, it just depends on how much the hole shallows up on the way down or whether it holds its course as to the final. But it's thereabouts; it's around that 300 meter mark where we're heading to.
And as you can see, we are still getting good results. And, again, some results are way better. Certainly, Hole 175 was just spectacular. It would actually be really interesting to see what's down below that even deeper.
So again, the Phase-2 program is going great. We've done the HeliTEM. There is a mountain of targets. We've whittled that down to a respectable number that we see as the top priority, and we're just going to systematically drill our way through those 17 targets.
There's a mix in there. I'm not going to say they're all the same thing. They're all certainly very good EM anomalies. Some are in the best structural location; the best geological location. Obviously, the majority are where we would like them to be; they're down in the footwall ultramafics where we would expect the nickel to be.
And then, something that we've always sort of targeted was the possibility that, down below these PGM deposits, there’s the potential for nickel massive sulfides. And since Bravo has been there and we started drilling, we've hit sniffs of nickel massive sulfides in all three areas: in the north, south, and central. All three areas have turned up sniffs. There's plenty of smoke, and it's smoke that had never really been hit on before.
So I think the evidence just continues to stack up and continues to stack up. And we're chomping at the bit. Obviously, we're on the backs of the geophysicists constantly, saying, ‘When are we going to get the first planned drill holes?’ Obviously, the first 3D plate models and the planned drill holes to test those models. And to a certain extent, they're then prioritized right down to the point where it starts to get personal, if you like: ‘Which is the one “you” like the best? Which is the one “I” like the best?’
But I think we're going to get in there and test everything that is certainly a standout. And there are even one or two wildcards in there. There are one or two where you look at them and you scratch your head. You're like, ‘Why is he testing that one?’ And it's like, ‘Because you just never know!’ And it's such a good EM anomaly, you can't walk away and not test that. It's a fantastic basket of targets to have, and we're going to work our way through that.
So, trying to get back to your question, Phase-1 was great. Phase-2 is going fantastically. The resource, as you know, is on-track. You're going to see that in mid-October as we've already said. We have great expectations for that, obviously, and it's now just a case of waiting for the geophysicists to finish their planning. And we're going to get out there and drill the HeliTEM targets or the EM targets.
At this stage, everything has gone exactly the way it was planned… and a little bit of good luck always helps. I think we've seen good results in just about everything we've touched so far. Whatever we’ve touched so far at Luanga has come up with the goods. I’ve got no complaints… other than today's crappy market.
Gerardo Del Real: Well, I think people are slowly but surely getting back into the office, and one day does not make a trend. And the response, especially initially, on very, very low volume, I think is going to be very temporary.
I was about to mention that you've had a whole heck of a lot of luck… but you've also had a lot of hard work and due diligence that has gone into the systematic way that you've approached and explored this property. And I have every reason to believe that that continues. I'd be very, very surprised if the market cap isn't at many multiples of where it is today within the next 6 to 12 months, if not before that.
I'm a biased shareholder so it's obviously something that I'm saying because I believe. I've backed that up with my checkbook. I've backed it up publicly. I've said it to subscribers.
You're cashed up. You’ve got rigs. You’ve got assays pending. You’ve got multiple systems, and you have an abundance of targets. I can't think of a better setup going into what I think is going to be a historic commodity market here for the next several years.
Any last thoughts, Simon, before I let you go?
Simon Mottram: I think you've summed it up perfectly, Gerardo. I'm looking forward to, obviously, October. Everyone's chomping at the bit to see the maiden resource. I'm hoping for a good Christmas.
Gerardo Del Real: I am hoping for all of the same things. Simon, a pleasure, as always. I encourage anyone that is at the Beaver Creek Precious Metals Summit to come and say hi to myself. Luis Azevedo, the CEO and executive chairman, will be there as well as some of Bravo's team. If anybody wants to say hello, please reach out.
Simon, thank you, as always, for your time. I know there's a lot to get to. I'll let you get back to it.
Simon Mottram: Always a pleasure. Thanks, Gerardo. Talk again soon.
Gerardo Del Real: Cheers.