Braveheart Resources (Braveheart) is a Canadian based junior mining company in a unique situation. Braveheart’s newly acquired Bull River Mine in British Columbia, is an advanced staged copper, gold and silver mine. Additionally, Braveheart recently announced its intent to acquire a copper-nickel platinum group elements mine – Thierry Mine project near Pickle Lake, Ontario. Copper, nickel and base metal prices have improved and are gaining momentum – fueled by the “Green Economy”.   The Bull River Mine was previously producing copper during the 1970s. Over $200M dollars was spent in mine development. The mining infrastructure is in place. The mine can be re-started quickly. There is, at surface, a 180,000 tonne stockpile of 1.7% copper which can feed the mill for eight months. The mine is shallow at 350m deep with 1.5M tonnes of 2.2% copper and a 6.5 year mine life. Underground is open to further exploration. A large $150M tax-credit asset was assumed from the previous operator.     Bull River Mine infrastructure includes a 750 tonne per day conventional mill with adjoining crushing facilities, administration 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. There is 21,000 metres of underground developments in terms of ramps, raises and drifting on mineralized structures on seven levels. Unique Opportunity: Getting Back to Copper & Gold Production Additionally, Braveheart recently announced its intent to acquire a copper-nickel platinum group elements (PGE) mine – Thierry Mine project near Pickle Lake, Ontario. Thierry Mine was a past producer with an average grade of 1.13% copper deposits. The Thierry underground sits on more than 8.8M tonnes of 1.66% copper and 0.19% nickel (2012 NI 43-101) The Thierry mine milled 5.8M short tonnes of copper and nickel through open pit and underground working between 1976-1982.    Calgary, Alberta–(Newsfile Corp. – September 22, 2020) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB:RIINF) (“Braveheart” or the “Company“) is pleased to announce a financing and strategic investment from Palisades Goldcorp Ltd.The funding will consist of 7,000,000 units (“Units”), priced at $0.075 per Unit for proceeds of $525,000 (the “Offering”). Each Unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into a common share at a price of $0.11 per share for a period of 3 years from the Offering. The proposed financing is subject to TSX Venture Exchange approval. All securities will be subject to a statutory hold period that expires four months and one day from issuance. The proceeds from the financing will allow the Company to continue with permitting and development activities at its 100% owned Bull River Mine project near Cranbrook, British Columbia. About Palisades Goldcorp Ltd. Palisades Goldcorp is Canada’s new resource focused merchant bank. Palisades’ management team has a demonstrated track record of making money and is backed by many of the industry’s most notable financiers. With junior resource equities valued at generational lows, management believes the sector is on the cusp of a major bull market move. Palisades is positioning itself with significant stakes in undervalued companies and assets with the goal of generating superior returns. |
