Toronto, Ontario–(Newsfile Corp. – January 22, 2018) – Braveheart Resources Inc. (TSXV: BHT) (“Braveheart” or, the “Company”) is pleased to announce that it has received a National Instrument 43-101 (“NI 43-101”) resource report for its flagship Alpine Mine property located ~20 km from Nelson, BC. The report was prepared by Gary Giroux, P.Eng. who fulfills the requirements of a “Qualified Person” as defined in NI 43-101. Mr. Giroux has been providing service to the exploration and mining industry since 1970. For the past 41 years he has been involved in Geostatistical Resource/Reserve Studies for both Major and Junior Mining Companies on a wide range of Deposit Types.
The report has an effective date of January 22, 2018 and the Company intends to file the complete report on SEDAR on or before March 8, 2018.
An Inferred Resource of 268,000 tonnes has been estimated. Using a cut-off grade of 5.0 g/t Au and an average grade of 16.52 g/t Au, this represents an inferred resource of 142,000 oz of gold. Table 1 below provides a range of values using different cut-off grades.
Table 1 – Inferred Resource within the Alpine Vein
|Tonnes > Cut-off
|Grade > Cut-off
Data for the Alpine vein used in this resource estimate consisted of the following:
- 12 surface BQ diamond drill holes completed by Cominco in 1989
- 12 surface BTW diamond drill holes completed by Braveheart in 2017
- 256 underground drift and stope panel samples completed in 1988
- 7 underground drift and stope panel samples completed by Braveheart in 2017
- Bulk density used was 2.54
Underground drift and stope samples were treated as horizontal or vertical drill holes. Down hole surveys were available for all drill holes and azimuth and dip information was added for all drift and stope samples. A total of 558 gold assays were provided with limited sampling for Ag, Pb and Zn.
A block model with blocks 20 x 20 x 1 m was superimposed over the Alpine Vein and for each block the percentage below surface topography, the percentage within the Alpine Vein, the percentage within post mineral lamprophyre dykes and the percentage inside underground drifts and stopes was recorded. Grades for gold were interpolated into the block model for both the area mined and the area remaining by Ordinary Kriging. An average gold price of US$1,300 was used in establishing the cut-off grade of 5.0 g/t for underground mineral resources.
Phil Keele, President and CEO of Braveheart stated “We are again one step closer to realizing our goal of bringing the Alpine Mine back to life. At this stage of development there are no measured or indicated resources present within the Alpine Vein. This resource report forms the basis upon which we can expand the resource by providing Braveheart with specific targets for a diamond drilling program coupled with underground panel sampling in 2018 with the primary objective being to increase and upgrade the mineral resource estimate. The Braveheart team is encouraged and excited about these results.”
For more information on Braveheart Resources Inc. including photos please visit our website at www.braveheartresourcesinc.com
About Braveheart Resources Inc.
Braveheart is a Canadian based junior exploration company focused on building shareholder wealth through aggressive exploration in a favorable and proven mining jurisdiction – the West Kootenays in southeast British Columbia (silver and gold). Particular focus is on the Alpine Mine, a past producing property 20 km northeast of Nelson. Braveheart’s shares are listed for trading on the TSX Venture Exchange under the symbol BHT.V. Braveheart currently has approximately 42.8 million common shares issued and outstanding.
Braveheart’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Mr. Jim Decker, P.Eng., a consultant to Braveheart who serves as a qualified person under the definition of National Instrument 43-101.
Phil Keele, P.Eng,. President and CEO 780-215-4044 or [email protected]
Caution Regarding Forward-Looking Information
This news release includes certain information that may constitute “forward-looking information” under applicable Canadian securities legislation. Forward-looking information includes, but is not limited to, statements about strategic plans, future work programs and objectives and expected results from such work programs. Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, (more) uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking information and the risks identified in the Company’s continuous disclosure record. There can be no assurance that such information will prove to be accurate, as actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information.
All forward-looking information contained in this news release is given as of the date hereof and is based upon the opinions and estimates of management and information available to management as at the date hereof. The Company disclaims any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required by law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.