Calgary, Alberta–(Newsfile Corp. – October 17, 2019) – Braveheart Resources Inc. (TSXV: BHT) (“Braveheart” or, the “Company”) hereby provides an update on activities at the Bull River Mine property. On August 16, 2019 Braveheart received an amendment to its Mines Act Permit M-33 from British Columbia Energy, Mines and Petroleum Resources (“EMPR”). The amendment provides approval for exploration drilling and groundwater drilling at the permitted mine area of approximately 116 hectares. Since receipt of the permit amendment Braveheart has completed a condemnation drilling program at the property and expects to complete a groundwater drilling program by the end of October 2019.
The condemnation drilling program verified that there is no near surface economic mineralization in terms of copper, gold and silver metals that would be sterilized by the placement of tailings in an area on surface that has been identified as the primary location for a dry stack or filtered tailings storage facility (“TSF”). The proposed TSF area is in proximity to the existing mill and surface infrastructure. Based on these results the Company can proceed with detailed engineering of the TSF. This is one of the critical components in support of the continuing application to restart the operation through the Major Mines Office of EMPR. Dry stack or filtered tailings technology has been identified as one of the best available technologies for tailings deposition on surface.
The groundwater drilling program will include the installation of water wells and monitoring of the wells. This information will supplement the surface water monitoring programs already in place at the mine property. Implementation of the expanded groundwater monitoring program is also a critical component of the Major Mines Permit application. The Bull River Mine property is currently on care and maintenance with the existing underground workings being maintained in a dewatered condition.
The Company also announces results from the initial surface drilling program at the Company’s 100% owned Empire Strathcona property which is located approximately 12 kilometres from the Bull River Mine property and is part of the Company’s large contiguous land package. The Company completed a total of 14 drill holes this summer. All drill holes intersected narrow mineralized structures, but grades of the mineralized material to-date do not support further exploration at this location at this time. The Company intends to focus future exploration activities on targets in closer proximity to the existing mineral resource at the Bull River Mine property including targets that are best approached from the existing underground workings. Based on drilling activities completed this summer at the Bull River Mine property Mineral Titles On-Line expiry dates have been extended until May 2022 for the entire property.
The Company continues to work with the British Columbia Hydro and Power Authority (“BC Hydro”) on completion of a System Impact Study Agreement for the Bull River Mine property. The study is required to assess the impact of connecting the customer’s plant to BC Hydro’s transmission system. The Company is currently connected to grid power but plans to increase the load to 10 MVA prior to a restart of operations. The Company is pleased to announce that it has secured a used transformer that will meet the immediate needs of the project and provide for expansion capability. It is expected that the transformer will be moved to the mine property later this fall.
About Braveheart Resources Inc.
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in the favourable and proven mining jurisdictions of the East and West Kootenays of British Columbia. Braveheart’s main asset is the newly acquired Bull River Mine, an advanced stage copper, gold and silver property. The property is fully developed with 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. The surface infrastructure includes a 750 tonne per day conventional mill with adjoining crushing facilities as well as offices and mine maintenance facilities. The property is connected to grid power and there is year-round access to the site by paved and all-weather roads.
Braveheart’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Ian Berzins, P.Eng., ICD.D who serves as President, CEO and Director of the Company and is a qualified person under the definition of NI 43-101.
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 necessarily involve known and unknown risks, including, without limitation, risks associated with general economic conditions; inability to access sufficient capital from internal and external sources, and/or inability to access sufficient capital on favourable terms; and other risks.
Forward-looking information is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, 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.
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