Calgary, Alberta--(Newsfile Corp. - June 5, 2019) - Braveheart Resources Inc. (TSXV: BHT) ("Braveheart" or, the "Company") is pleased to report that it has received approval from the British Columbia Ministry of Energy, Mines and Petroleum Resources for a Multi-Year Area Based Permit ("MYAB") that will allow the Company to begin exploration activities at its newly acquired Bull River operations.
The MYAB permit allows the Company the opportunity to conduct exploration activities over a five-year time period in an area which includes five known BC Minfile occurrences including the CEDAR/G Zone, Dean, REX, Empire Strathcona and Burt. This area is included in the Company's 10,285 hectare contiguous land package. Preliminary work was conducted by the previous owner in 2017 and 2018 in terms of prospecting, sampling and geophysical surveys. The 2019 program will be primarily focused on diamond drilling from surface utilizing a skid-mounted diamond drill capable of drilling to depths of up to 1,000 metres with NQ2 core.
The area has an extensive infrastructure of road access, therefore, no new roads will be required. Numerous past historical activities have taken place within the proposed work area including trenching, diamond drilling and limited mining activity by tunneling from surface adits. Most of the property is free from snow beginning in April until November, and the road access infrastructure allows for year round drilling at lower elevations.
Ian M. Berzins, President and CEO, Braveheart Resources commented, "We are pleased to receive the MYAB permit and begin our 2019 drilling program at the Bull River property. We have some very prospective targets based on the historical work done in the area by previous owners and our infrastructure affords us excellent access to our planned drill locations."
In addition, the Company announces the granting of up to 6,300,000 options at a strike price of $0.16 and an expiry date of five years to officers, directors, employees and consultants of the Company.
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 mine. The mine 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 in this news release include, but are not limited to, statements with respect to completing the acquisition of Purcell, including raising the requisite funding to do so. 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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/45358