Braveheart Receives Early Exploration Permit for Thierry Mine Property
Calgary, April 12, 2022 - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") is pleased to announce the receipt of an Early Exploration Permit from the Ontario Ministry of Northern Development, Mines, Natural Resources and Forestry ("MNDM") for its Thierry Mine Property ("Thierry") near Pickle Lake, Ontario.
The Company has begun preparations for an initial 5,000 metre drill program at Thierry beginning in the summer of 2022. Initial targets will be focused on the K1-1 near-surface open pit deposit. The K1-1 deposit is on the eastern extent of the property and approximately three kilometres to the east of the historical Thierry shaft. The planned drill program will be the first drilling since 2012 when the property was owned by Cadillac Ventures Inc.
On February 22, 2021, an independently prepared Preliminary Economic Assessment ("PEA") by P&E Mining Consultants Inc. ("P&E") of Brampton, Ontario, under the supervision of Eugene J. Puritch, P.Eng., FEC, CET., was filed on SEDAR. The PEA included a Mineral Resource Estimate for the Thierry underground including 8,815,000 tonnes in the Measured and Indicated classification at 1.66% Cu, 0.19% Ni and 0.13 g/t Pd and 14,922,000 tonnes in the Inferred classification at 1.64% Cu, 0.16% Ni and 0.21 g/t Pd. Additionally, the Mineral Resource Estimate included 53,614,000 tonnes in the Inferred classification at the K1-1 near-surface open pit deposit with 0.38% Cu, 0.10% Ni and 0.14 g/t Pd. Lesser amounts of platinum, gold and silver occur. The PEA recommends further diamond drilling from surface to expand the current K1-1 Mineral Resource and potentially increase the level of confidence of the Inferred Mineral Resource into either a Measured or Indicated Mineral Resource classification.
Ian Berzins, President and CEO, commented, "We are extremely pleased to receive our Early Exploration Permit from MNDM for the Thierry Mine Property. Our initial near-surface drill targets will be at the K1-1 deposit. Brian Newton, of Minroc Management Limited, who is intimately familiar with Thierry having supervised previous drill programs at K1-1, will be primarily responsible for the 2022 drill program."
Qualified person
The disclosure of technical or scientific nature in this news release has been reviewed and approved by Mr. Brian H. Newton, P.Geo, of Minroc Management Limited who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101.
About Braveheart Resources Inc.
Braveheart is a mining company primarily focused on two near-term copper production assets in Canada. Braveheart's main asset is the 100% owned Bull River Mine project (>135MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart's latest acquisition is the 100% owned Thierry Mine project (>1,300MM lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@braveheartresources.com
Website: www.braveheartresources.com
For more investor information, please contact Braveheart at:
Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
E: mgrigo@braveheartresources.com
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 Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this new release.
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