Calgary, Alberta--(Newsfile Corp. - March 23, 2020) - Braveheart Resources Inc. (TSXV: BHT) ("Braveheart" or the "Company") announces that it has completed 831 metres of diamond drilling from underground workings at the Bull River Mine project in February and March of 2020. The purpose of the drilling program is to test the down dip extension of the vein systems under the current workings. A total of 3,000 metres of drilling is currently planned for 2020. To-date five drill holes have been completed from 9 Level, which represents the deepest level of the mine about 350 metres below the elevation of the mine portal. All five drill holes intersected mineralized structures in the central portion of the South Vein at depth. Previous drilling programs of the northern and southern extents of the South Vein had intersected mineralized structures at similar depths. Assay results have been received for one hole and the remaining assay results are expected within the next 30 days. The current 2020 drilling program has been temporarily placed on hold pending the return of analytical results from the final four holes and better clarity on the social and financial impacts of the coronavirus disease (COVID-19). To ensure the safety of our staff and contractors, effective immediately, the Company has taken the precautionary measures of shutting down all non-essential work at the project in order to reduce interactions of staff and contractors to a minimum.
Analytical results have been received for DDH BRU20-01, the first intersection of the South Vein in the current program. The hole was drilled on 9 Level and collared in 9E4 XC Ext Remuck at an azimuth of 052.5 degrees and dip of -26 degrees intersecting the mineralized structure approximately 50 metres below 9 Level. The mineralized intersection from 135.0 to 137.2 metres, a 2.2 metre interval represents an approximate true width of 1.8 metres. The composite grade of the interval is 1.46% Cu, 0.46 gpt Au and 9.85 gpt Ag. Included within this intersection from 136.0 and 136.37 metres is a 0.37 metre intersection with a composite grade of 4.99% Cu, 1.6 gpt Au and 30 gpt Ag. These values are within the range commonly found at the mine. The Company is encouraged by these results and the potential for the resource to be extended to depth.
Braveheart has a current NI 43-101 technical report that was authored by Sue Bird P.Eng, of Moose Mountain Technical Services and titled Bull River Resource Estimate. The report was completed on November 4, 2018 and published on SEDAR on January 23, 2019. The Bull River Mine project has an indicated resource of 1.51 million tonnes of copper, gold and silver mineralized material with an average copper equivalent grade of 2.263% CuEq based on a cut off grade of 1% CuEq. Additionally, the project has an inferred resource of 340,000 tonnes at 1.86% CuEq based on a cut off grade of 1% CuEq.
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 Bull River Mine project which has a current mineral resource containing copper, gold and silver. 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.
Quality assurance/quality control procedures and protocol
The company has implemented a quality assurance and quality control program to ensure all sampling and analysis is conducted in accordance with industry standards. Sampling at the company's properties includes thorough quality control with complete chain of custody of samples, sample collection procedures, the insertion of certified reference standards and blanks on a regular basis and data verification procedures. Samples are processed at Bureau Veritas Mineral Laboratories in Vancouver, B.C., Canada (ISO9001:2008 accreditation).
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, Chief Executive Officer and a Director of the Company and is a qualified person under the definition of National Instrument 43-101.
We seek Safe Harbour.
Braveheart Resources Inc.
President & Chief Executive Officer
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.
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