Calgary, Alberta--(Newsfile Corp. - March 7, 2022) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") announces that nickel and palladium by-product credits are becoming increasingly significant to Braveheart at its 100% owned Thierry Mine Project ("Thierry"). Thierry is a past-producing open pit and underground mine with copper, nickel, palladium, silver, platinum and gold metal values with copper being the primary metal.
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 deposit with 0.38% Cu, 0.10% Ni and 0.14 g/t Pd.
In aggregate, the in-situ metal content for the Mineral Resource Estimate at Thierry is approximately 1.31 billion lbs of Cu, 207.7 million lbs of nickel and 379,000 ounces of palladium. This does not include minor amounts of silver, gold and platinum.
Ian Berzins, President and CEO, commented: "While our primary focus at Thierry is copper, the recent increases in nickel and palladium prices are having a positive impact on the potential economics for the project. By-product credits now represent a significant contribution to in-situ metal values."
Qualified person
Braveheart's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Eugene J. Puritch , P.Eng., FEC, CET, 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 junior mining company focused on two near-term copper production assets in Canada. Braveheart's main asset is the 100% owned Bull River Mine project (greater than 135 million pounds of copper) near Cranbrook, British Columbia which has a current Mineral Resource containing copper, gold and silver. Braveheart's latest acquisition is the 100% owned Thierry Mine project (greater than 1,300 million pounds of copper) near Pickle Lake, Ontario containing copper, nickel, palladium, silver, 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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