08:19 AM EDT, 05/28/2024 (MT Newswires) -- Bravo Mining ( BRVMF ) on Tuesday detailed initial assays from the T5 and T6 targets at the Luanga project in Brazil, intersecting high-grade copper and gold mineralization.

Highlights include 11.48 meters at 14.3% copper and 3.3 grams per tonne (g/t) gold, including 2.9 meters at 22.9% copper and 3.6 g/t gold.

"We are very encouraged by the discovery of high-grade copper and shareholders should be cognizant that Luanga is situated within the world class Carajas IOCG province, an area very fertile for high-grade copper discoveries," Chairman and CEO Luis Azevedo said.

The company said the high-grade copper mineralization at T5 is likely unrelated to the original platinum group metals-nickel-gold deposit, which is located 1 kilometer away.

The T6 target also intersected massive sulfides in ultramafic rock, Bravo said.

Bravo's share price rose 2.3% yesterday to $2.23.