Braveheart Assays for Cobaltite in Recent Bull River Mine Drilling Program (Potential for Cobalt Recovery as a By-Product Credit)
Braveheart Assays for Cobaltite in Recent Bull
River Mine Drilling Program
(Potential for Cobalt Recovery as a By-Product Credit)
Calgary, Alberta--(Newsfile Corp. - August 19, 2021) - Braveheart Resources Inc.
(TSXV: BHT)
(OTCQB: RIINF) (FSE: 2ZR)
("
Braveheart
" or the "
Company
") has received additional metallurgical
results from the recent drilling program at the Bull River Mine project. To-date the Company has received
results for four of six holes in the H1 2021 diamond drill program (see press release dated July 8, 2021,
on SEDAR).
In addition to copper, gold and silver the Company has now received assays for
cobalt.
Cobalt mineralization
was encountered in each of the four drill holes for which assays have been
received to-date. Cobalt grade ranged from 0.015% to 0.033%.
The results from the remaining two
holes are not expected to be received until late September 2021 due to a backlog at the lab.
Ian Berzins, President and CEO, commented, "We are pleased with the initial results from this year's drill
program which has not only validated the presence of copper, gold and silver mineralization at depth but
also the presence of cobalt mineralization.
Historically previous operators did not assay for cobalt so
there is no recognition of cobalt in the current NI 43-101 Resource which was completed in January 2019
by Sue Bird of Moose Mountain Minerals.
The Company has not yet determined that a saleable cobalt
concentrate can be produced.
However, with cobalt now being added to the list of critical metals in
Ontario and the United States and with cobalt prices increasing to over US$53,000 per tonne, the
potential for adding cobalt by-product credits at the Bull River Mine project is encouraging and desires
more investigation".
This could result in an increase in the total metal values at the Bull River
Mine.
In June 2018, Braveheart began an analysis of the potential for economic extraction of cobalt at the Bull
River Mine.
The purpose of the testing was to determine whether cobalt could be recovered to a pyrite
concentrate through a secondary flotation process.
Cobalt is visually apparent in the underground
workings that are currently being maintained in a dewatered condition.
Chip samples were taken from
the walls of the workings under the supervision of Ian Berzins, P.Eng. of Braveheart (see press release
dated January 28, 2019, on SEDAR).
Chain of custody was maintained by Braveheart and a 9 kg
sample was shipped to SGS Mineral Services ("SGS") in Vancouver, British Columbia for analysis.
The
head grade for the sample was 0.13% Cu, 1.4 g/t Ag, 0.09 g/t Au and 0.05% Co representing
mineralized material on the hanging-wall and footwall of the mineralized material.
Secondary flotation
testing produced a cleaner concentrate of pyrite and cobalt with a recovery of 74.8% cobalt at a grade of
0.66% Co.
Subsequently in July 2019, the Company completed metallurgical testing at SGS on a sample of
mineralized material from a surface stockpile.
The head grade for the surface material was 1.4% Cu,
0.32 g/t Au, 9.6 g/t Ag and 0.02% Co representing diluted mineralized material from the current
underground workings.
Secondary flotation testing produced a cleaner concentrate with a recovery of
74.2% cobalt at a grade of 0.37% Co.
The Company believes that these latter results are more
representative of what should be achievable, should a secondary flotation circuit be installed focused on
recovery of pyrite and cobalt following the primary concentrate with copper, gold and silver.
This study
demonstrated that cobalt can be recovered to a pyrite concentrate but further testing is required to
achieve a product with sufficiently high cobalt content to forward to cobalt extraction and purification.
Summary of 2021 Bull River Mine Drilling Program To-date
Hole ID
Azimuth
Dip
From
To
Length
Cu
Ag
Au
Co
(m)
(m)
(m)
(%)
(g/t)
(g/t)
(%)
BRU 21-01
55
-26
171.4
174.8
3.4
5.12
28.6
0.63
0.018
Including
173.8
174.4
0.6
19.79
98.6
0.17
0.020
BRU 21-02
55
-37
184.1
186.1
2
1.52
8.1
0.17
0.033
BRU 21-03
55
-48
190.9
194.4
3.5
2.39
12.5
0.29
0.015
Including
55
192.5
193.5
1
5.6
29.3
0.49
0.015
BRU 21-04
55
-59
205.5
208
2.5
0.34
1.9
0.05
0.026
Qualified person
Braveheart's disclosure of a technical or scientific nature in this news release has been reviewed and
approved by Ian Berzins P.Eng., 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.
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 (>85MM lbs of copper)
near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver.
Braveheart's newest acquisition is the 100% owned Thierry Mine project (>860MM 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:
Website:
www.braveheartresources.com
For more investor information, please contact Braveheart at:
Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
E:
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.
To view the source version of this press release, please visit
https://www.newsfilecorp.com/release/93681