Mike Fagan,
Editor
Feb. 17, 2023
Bravo Mining Corp. (TSX-V: BRVO)(OTC: BRVMF) — currently trading around C$2.85 per share — has discovered a new zone and style of nickel sulphide mineralization via the drill at its flagship, 100%-owned Luanga PGM+Gold+Nickel+Rhodium Project in the world-class Carajás Mineral Province in northern Brazil.
The new zone has been delineated, in part, from the release of assays from eight diamond drill holes in the Central and North Sectors, which have successfully extended mineralization fifty meters to the north and fifty meters to the south of the company’s previously announced massive sulphide intercept in the North Sector.
Check out our latest free research reports for in depth analysis on specific market trends.
View Reports
Bravo Mining chairman & CEO Luis Azevedo commented via press release:
“Today’s results demonstrate the potential for higher-grade nickel ± copper sulphides at Luanga, underlie the existing ~8.1 km strike of PGM+Au+Ni mineralization intersected in shallow historic drilling. We are at the early stages of understanding the distribution of, and controls on, this potential new style of nickel ± copper sulphide mineralization, which has now been intersected in both the North and Central Sectors. We are very positive about the potential below Luanga and have deployed geophysical tools aimed at detecting this style of mineralization. Work is continuing and aims to drill test future geophysical targets in 2023.”
The ongoing Phase-1, 25,500 meter drill program is close to completion with 1,550 meters remaining before the commencement of Phase-2, which is slated for 21,500 meters.
Phase-2 will focus on step out drilling with the aim of extending known zones of mineralization at depth as well as exploration of new targets as identified via EM surveying.
Check out our premium publications for more trading recommendations and exclusive coverage on the markets.
View PublicationsResults will be used to further increase confidence in the geologic model at Luanga and to provide the basis for the company’s forthcoming maiden NI 43-101 mineral resource estimate and, shortly thereafter, a PEA (Preliminary Economic Assessment).
Bravo Mining is exceptionally well-funded to achieve its near-term objectives. The company IPOd in July 2022, raising gross proceeds of C$40.25 million at an offering price of C$1.75 per share. And prior to going public, in May 2022, the company raised an additional US$8.5 million via private placement.
The tier-one-potential Luanga project — which has been designated by the Brazilian government as a Strategic Minerals Project — boasts a 5.7 million ounce historic resource estimate [142 Mt 1.24 g/t Pd+Pt+Au & 0.11% Ni] done by Vale — one of the largest iron ore and nickel producers in the world.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Bravo Mining president Simon Mottram for a detailed analysis of the newly discovered zone and next steps in the advancement of Luanga. Please enjoy!
Also, for more information on Bravo Mining, please email the company’s IR department at info@bravomining.com. Sign up to receive updates directly from the company here.
Mike Fagan
Editor, Resource Stock Digest