Announcement • May 22
Bravo Mining Corp. Reports Assay Results from Babylon Target, Located Adjacent to North Sector of Its 100%-Owned Luanga Palladium + Platinum + Rhodium + Gold + Nickel Deposit, Located in Carajás Mineral Province, Pará State, Brazil
Bravo Mining Corp. reported assay results from the Babylon target, located adjacent to the North Sector of its 100%-owned Luanga palladium + platinum + rhodium + gold + nickel deposit, located in the Carajás Mineral Province, Pará State, Brazil. Highlights include 5m @ 1.28 g/t PGM+Au, 1.0% Ni and 0.37% Cu, including 2.7m @ 2.11 g/t PGM+Au, 1.75% Ni and 0.68% Cu, and 3.6m @ 1.71 g/t PGM+Au, 1.33% Ni and 0.47% Cu. Drill hole DDH26LU330 from the ongoing drill program intercepted a new zone of high-grade magmatic sulphide mineralization adjacent to the North Sector PGM mineralization and approximately 300m south of the Babylon Target. Magmatic sulphide mineralization is distinguished by the abundance of sulphides, significantly higher Ni grades and Cu grades as compared to the Luanga PGM+Au+Ni mineral resource. The mineralized interval in DDH26LU330 comprises approximately 22m downhole of magmatic sulphide (Ni/Cu/PGM) mineralization, including two distinct zones of semi-massive to massive sulphides. Intercept highlights include 5m @ 1.28 g/t PGM+Au, 1.0% Ni and 0.37% Cu, including 2.7m @ 2.11 g/t PGM+Au, 1.75% Ni and 0.68% Cu. Drill holes DDH25LU292, 293, 294 and 295, all drilled on the same section at Babylon, returned narrow but high Ni/Cu/PGM+Au grades. Bore Hole Electromagnetic ("BHEM") surveying is planned to assist in further follow-up drilling. The most recent drill hole targeting Ni/Cu sulphides proximal to Luanga, DDH26LU330, is located in the North Sector, approximately 300m south of the Babylon target and stratigraphically below and immediately east of the main PGM+Au+Ni mineral resource. The drill hole intercepted variably mineralized sulphides from 200.53m to 222.45m, ranging from disseminated sulphides to semi and massive sulphides, hosted in predominantly harzburgite (Luanga footwall lithology) with intercalations of orthopyroxenite (Luanga PGM deposit host lithology). Sulphides were described as pyrrhotite, with much lesser pentlandite (Ni sulphide mineral) and lesser chalcopyrite (Cu sulphide mineral). Also observed are localized concentrations of disseminated chromite, intimately associated with the sulphide mineralization, further highlighting another distinctly different style of mineralization compared with other magmatic sulphides occurrences previously identified in and around Luanga and is different to the minor stratiform chromite lenses, devoid of sulphides, that have been intersected in drilling the main Luanga mineralization. DDH26LU330 intercepted an approximately 22m thick sulphide zone, within which there are two distinct zones of semi-massive to massive sulphides. Magmatic Ni/Cu (+/- PGM) sulphides may be amenable to processing in the same flotation plant as the PGM+Au+Ni sulphides that comprise the current mineral resource with only minor modifications, including those to potentially recover copper. The Babylon target is situated within and stratigraphically below, the Luanga PGM+Au+Ni deposit and is associated with a large magnetic anomaly, together with a strong EM conductor and gravity high. Previous Bravo drilling associated with current Luanga PGM+Au+Ni resource intercepted high-grade magmatic massive sulphide Ni/Cu/PGM mineralization (Hole DDH22LU047 with 11.04m @ 2.04% Ni, 1.23% Cu, from 131.11m downhole). Sulphide mineralization sits at the lithologic base of the Luanga intrusion in the North Sector and occurs close to the top of a deeper hydrothermal alteration zone related to Fe-Ca-K metasomatism. Sulphide paragenesis is presented by pyrrhotite, with much lesser pentlandite (Ni) and minor chalcopyrite (Cu). A short diamond drilling program was completed at Babylon, and surrounding areas, to further test the Ni/Cu potential of the basal zone of the Luanga Mafic-Ultramafic Complex. Drilling intersected numerous sulphide-rich intervals, with sulphide mineralized zones locally reaching semi-massive and massive textures. Assay results for nine drill holes in and around Babylon have been received and are summarized in this press release with their key geological and mineralogical features. Drill Hole DDH25LU292 drilled with a dip of 60° from north to south in the center of the gravity high, the hole intercepted 11 sulphide-rich zones predominantly comprising sulphide-matrix breccias with some massive sulphide intervals. Collectively, these zones represent an accumulated thickness of approximately 35.0m over an interval of approximately 79.0m. The intervals between the sulphide-rich zones comprise strongly altered rock, locally suggesting an association with the orthopyroxenites of the Luanga complex. The hole finished in a Fe-Ca-K metasomatic zone, with a strong magnetic response from the high magnetite content. Complete assays for DDH25LU292 are reported at the end of this section. Overall, assays defined 5 main intercepts with average Ni grades ranging from 0.13% up to 0.42% and Cu from 0.12% to 0.35%. Drill Hole DDH25LU293 drilled on the same section as DDH25LU292, approximately 25m to the north (down dip), the hole intercepted a similar geological scenario to DDH25LU292 with 10 distinct sulphide-rich zones associated with brecciation and locally massive sulphide intervals. Collectively, these zones cumulatively amount to approximately 17.0 metres of more intense mineralization over a 63.5m interval, including intervening low sulphide zones. As with DDH25LU292, the hole also terminated in the Fe-Ca-K metasomatic zone at depth. Overall, assays defined 4 main intervals, with Ni grades ranging from 0.17% to 1.33% and Cu grades from 0.31% up to 0.47%. Drill Hole DDH25LU294 was drilled on the same section as DDH25LU292 and DDH25LU293, as a scissor hole, oriented to the north. As with the prior drill holes, eight sulphide-rich zones were intersected. Locally, sulphide intervals ranged from 6m to 8m in thickness, with a cumulative thickness of approximately 32m of more intense mineralization across a mineralized zone approximately 75m wide. As in the earlier holes, drilling terminated within the basal Fe-Ca-K metasomatic zone. The main Ni/Cu intercepts have returned average grades ranging from 0.32% up to 0.60% Ni, and Cu from 0.13% to 0.33%. Drill Hole DDH25LU295 drilled approximately 50m to the south (down dip) of DDH25LU294, the hole intercepted seven sulphide-rich zones, mostly comprised of sulphide-matrix breccias with minor massive sulphide. Collectively, these zones represent a approximately cumulative thickness of 34.0m of more intense mineralization within an interval of approximately 44m. The intervening zones between the sulphide-rich intervals are relatively narrow in thickness (0.8m to 2.7m), hosted by a strongly altered rock associated with the Luanga orthopyroxenite.
