Calgary, Alberta--(Newsfile Corp. - August 16, 2019) - Braveheart Resources Inc. (TSXV: BHT) ("Braveheart" or, the "Company") hereby announces that it has 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.
The Bull River mine property is currently on care and maintenance. Restarting operations at the mine property including mining, milling and disposal of tailings and waste rock is not permitted at this time. The Company plans to dispose of tailings on surface in a tailings storage facility ("TSF") utilizing dry stack or filtered tailings technology. Prior to finalizing the location of the proposed TSF the Company plans to complete a condemnation drilling program to ensure that the proposed location is not underlain by economic mineralization. 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. Results from the two drilling programs are critical components in support of the Company's continuing application to restart the operation through the Major Mines Office.
Ian Berzins, President and CEO of Braveheart Resources Inc., commented, "We are extremely pleased to receive this approval from EMPR. This represents another important milestone towards our restart of the Bull River mine property."
In addition, the Company announces that it has entered into a System Impact Study Agreement with British Columbia Hydro and Power Authority ("BC Hydro"). The Company is currently connected to grid power but plans to increase the load to 7.5 MVA prior to a restart of operations. The study is required to assess the impact of connecting the customer's plant to BC Hydro's transmission system.
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.
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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