March 7, 2023
Bravo Mining Corp. (TSX-V: BRVO)(OTC: BRVMF) — currently trading around C$3.35 per share — has received assays from 17 drill holes from the Central Sector at its flagship, 100%-owned Luanga PGM+Gold+Nickel+Rhodium Project in the world-class Carajás Mineral Province in northern Brazil.
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- Hole DDH22LU083: 3.2 grams per tonne (g/t) PGM+Au over 93 meters from surface
- Hole DDH22LU043: 36.1 g/t PGM+Au over 16.7 meters from surface; including
- 63.3 g/t PGM+Au (including 6.5 g/t rhodium) over 8.5 meters; and
- 27.0 g/t PGM+Au over 9.1 meters
The company reports that drill results received to date from the Central Sector are continuing to show increasing mineralized thicknesses and/or grades at depth — including increased magmatic nickel (± copper) sulphide content — and that mineralization remains open at depth.
Bravo Mining chairman & CEO Luis Azevedo commented via press release:
“New drill results from the Central Sector of our Luanga Project continue to show increased mineralized thicknesses at depth (where it remains open ) with similar or better assay grades than historic intercepts. Drilling also continues to demonstrate increasing levels of magmatic nickel sulphides (± copper) both at depth and/or near the basal ultramafics. Bravo’s twin hole drill program, now concluded, has provided confidence in grades and mineralized widths, successfully repeating historic results for some of the thickest, highest-grade intersections. The latest results also include the highest sequential rhodium grades seen at Luanga ( DDH22LU043 includes 8.5m @ 6.48g/t rhodium ). The exploration potential underlying the ~8.1km mineralized strike at Luanga is just beginning to be revealed.”
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.
The ongoing Phase-1, 25,500 meter drill program is close to completion with 16 priority drill holes remaining to be completed before the commencement of Phase-2, which is slated for 21,500 meters. To date, results have been reported for 77 holes with assays pending for an additional 67 holes.
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.
Results 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).
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Clearly, the market is liking what it has been seeing so far with the BRVO share price doubling from around C$1.65 in mid-December of last year to currently around C$3.35 per share. We’ll continue to keep you posted as final assays are released from Phase-1 and as the company makes preparations for the commencement of Phase-2.
For more information on Bravo Mining, please email the company’s IR department at firstname.lastname@example.org. Sign up to receive updates directly from the company here.
Editor, Resource Stock Digest