Mike Fagan,
Editor
Oct. 20, 2022
Bravo Mining Corp. (TSX-V: BRVO)(OTC: BRVMF) — currently trading around C$1.75 per share — has provided an exploration/drilling update at its flagship Luanga PGM+Gold+Nickel+Rhodium Project in the world-class Carajás Mineral Province in northern Brazil.
To date, 91 drill holes have been completed for a total of 15,500 meters of an ongoing 6-rig, 25,500-meter, Phase-1 program.
Part of that drilling includes four newly-completed step-outs located 50 meters to the north and 50 meters to the south of previously announced drill hole No. 047, which returned 11 meters of 4.24 grams per tonne (g/t) 3PGM+Au, 2.04% nickel, and 1.23% copper.
Importantly, the 3PGM+Au assay results for hole No. 047 were released separately, pointing to a potentially game-changing PGM discovery occurring in massive and semi-massive sulphides at Luanga. Adding further excitement, all four step-outs from hole No. 047 have intersected varying degrees of visual semi-massive sulphides with assays forthcoming.
The drill rigs in that particular area have since been temporarily moved out to make way for downhole EM surveying across the four step-out holes; the Bravo team expects to utilize the results in the delineation of high-priority targets for follow-up drilling.
Following shortly thereafter, a surface EM survey will be deployed over the broader 7,800-hectare Luanga property, which the team expects will add significant value in the identification of other potential massive and semi-massive sulphide targets along Luanga’s impressive 8.1 km of mineralized strike.
Already, the Luanga project boasts a 5.7 million ounce historic resource estimate [142 Mt @ 1.24 g/t Pd+Pt+Au & 0.11% Ni] produced by Vale — a major iron ore and nickel producer — in the early-2000s.
Importantly, Vale’s initial resource estimate did not include the rhodium component. The Bravo team, fully recognizing the importance of rhodium, is continuously assaying for the high-value commodity. And at a staggering ~US$13,500 per ounce, even a small amount of the PGM in the overall resource, obviously, could add significant value to the project’s economics.
Bravo’s 100%-owned Luanga project has also been designated by the Brazilian government as a Strategic Minerals Project due to its ideal location and its exceptional “green-energy” PGM-dominant commodities mix.
The ongoing Phase-1 drill program — which is about two-thirds complete with 42 holes in the lab awaiting processing — will be quickly followed by Phase-2, which is slated for 21,500 meters.
Looking ahead, the Bravo team will shift some of its focus to the production of a maiden NI 43-101 mineral resource estimate followed by a first-pass PEA (Preliminary Economic Assessment) — both slated for 2023.
In other words, speculators can expect a steady stream of news flow over the coming weeks and months as drilling, assaying, and EM surveying continues at a robust pace ahead of the forthcoming economic studies.
Our own Gerardo Del Real of Junior Resource Monthly caught up with Bravo Mining lead director Nicole Adshead-Bell to go over the current drilling progress, the latest PGM discovery, and next-steps in the advancement of Luanga to the benefit of BRVO/BRVMF shareholders. Enjoy!
Mike Fagan
Editor, Resource Stock Digest