Bravo Mining (TSXV: BRVO) has added the Canaã copper property to its Carajás portfolio in northern Brazil.
The company says its decision to acquire the project stems from its ongoing evaluation of exploration opportunities for iron oxide copper gold (IOCG) projects in the region.
Luis Azevedo, Bravo’s CEO and chair, said the site provides “a solid foundation” for the company to advance these future exploration campaigns. “Canaã is one of the most significant IOCG districts in the Carajás and an area our team knows well,” Azevedo said in a news release.
Shares of Bravo remained unchanged at $2.34 Tuesday morning in Toronto.
Historical data
Located about 120 kilometres southwest of Bravo’s flagship Luanga project, Canaã covers 6,185 hectares.
Between 2019 and 2024, OZ Minerals Limited conducted surface exploration across the project. This work included 2,287 soil samples, 460 line-kilometres of airborne geophysics, multiple ground geophysical surveys and completed 5,009 metres of diamond drilling in 27 holes. Bravo says it is currently validating this dataset.
Two drill-tested copper-gold prospects previously intersected high-grade IOCG mineralization on the property. A highlight hole at the Tapuia target returned 28.45 metres at 2.43% copper and 0.78 grams of gold per tonne. Meanwhile the Geuroba target was led by a 15.85-metre intersection at 1.74% copper and 0.14 grams of gold per tonne.
Tapuia and Gueroba follow-up
Bravo’s initial work will focus on Tapuia. About 5,300 metres of infill and step-out drilling are planned. Azevedo says the purpose of this drill program is to “better define the geometry and continuity of the mineralization, with the objective of supporting a potential maiden NI 43-101 mineral resource estimate.”
A second stage, 3,100 metre, program at Gueroba is planned following completion of drilling at Tapuia.
“Canaã Copper is an important addition to our growing copper-gold portfolio, complementing our exploration activities at Luanga, while we continue evaluating further opportunities across Carajás,” Azevedo said.
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