Braveheart Resources Commences PEA on Thierry Mine Project
Braveheart Resources Commences PEA on
Thierry Mine Project
Calgary, Alberta--(Newsfile Corp. - December 24, 2020) - Braveheart Resources Inc.
(TSXV: BHT)
(OTCQB:RIINF)
("
Braveheart
" or the "
Company
") is pleased to report the commencement of a
National Instrument 43-101 ("
NI 43-101
") Preliminary Economic Assessment ("
PEA
") on the recently
acquired Thierry Mine Project located near Pickle Lake in northwest Ontario, Canada.
The Company has engaged Eugene Puritch, P.Eng., FEC, CET to direct and manage a team of
independent consultants with P&E Mining Consultants Inc. to complete the PEA.
The most recent
independent NI 43-101 Technical Report and Resource Estimate was completed by P&E Mining
Consultants Inc. in February 2012 (the "2012 Thierry Technical Report") and is available on Cadillac
Ventures Inc.'s. SEDAR profile at
www.sedar.com
. The reader is cautioned that a Qualified Person has
not done sufficient work to classify the Mineral Resources stated in the 2012 Thierry Technical Report as
current Mineral Resources. Braveheart is not treating this historical Mineral Resource Estimate as
current Mineral Resources. While this Mineral Resource Estimate was prepared in accordance with NI
43-101 and CIM 2005 in effect at the time, there is no guarantee that it would be consistent with current
standards and it should not be regarded as such. Braveheart has not undertaken any independent
verification of the data upon which the historical Mineral Resource Estimate is based. The historical
Mineral Resource Estimate is considered relevant to assess the mineralization potential of the Property.
The PEA will focus on mining of the Mineral Resources at the Thierry underground mine only and will
include a review and update on capital, operating and G&A costs for the underground mine and surface
processing facilities.
It will also include an update on cash flow models and financial analysis as well as
an up-date on the NI 43-101 Technical Report.
The report is expected to be complete in the first quarter
of 2021.
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 Canadian based junior mining company focused on building shareholder value through
exploration and development in favourable Canadian mining jurisdictions at or near past-producing
properties.
Braveheart's main asset is the 100% owned Bull River Mine project near Cranbrook, British
Columbia which has a current Mineral Resource containing copper, gold and silver.
Braveheart's newest
acquisition is the 100% owned Thierry Mine project near Pickle Lake, Ontario containing copper, nickel,
palladium, platinum, gold and silver.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
Website:
www.braveheartresources.com
For more investor information, please contact Braveheart at:
Kevin Shum
O: +1-647-725-3888 Ext 702
M: +1-604-376-0323
E:
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/71007