ThSeeker
8 months ago
A Milestone Achievement
The amended permit received by CCMI for its BRM project is more than just a regulatory approval; it's a gateway to innovative mining processes. This amendment allows for additional activities such as screening, crushing, and sorting of mineralized material, crucial steps in the efficient extraction of minerals. The timing is impeccable, as it coincides with the installation and commissioning of an ore sorter at the site, touted to be the first of its kind in North America for processing copper sulphide ore. With an expected completion by mid-March 2024, this technological marvel is poised to revolutionize the way mineral extraction is carried out, promising enhanced efficiency and reduced environmental impact.
https://bnnbreaking.com/world/canada/revolutionizing-copper-mining-canadian-critical-minerals-inc-secures-key-permit-amendment-for-bull-river-mine
ThSeeker
10 months ago
Canadian Critical Minerals Signs Trucking Agreement for Stockpiled Material at the Bull River Mine Project
Calgary, Alberta--(Newsfile Corp. - January 16, 2024) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") has entered into a trucking agreement with Arrow Transportation Systems Inc. ("Arrow") to haul mineralized material from a surface stockpile at its flagship Bull River Mine ("BRM") project near Cranbrook, BC to the New Afton Mine operation ("New Afton") near Kamloops, BC for processing.
Under terms of the agreement Arrow will initially haul approximately 16,000 wet metric tonnes of mineralized material to New Afton over a period of four months beginning in early January 2024.
Previously, the Company announced that it had entered into an Ore Purchase Agreement ("OPA") with New Afton (see press release dated October 5, 2023, on Sedar+). Under the terms of the OPA, CCMI will deliver up to 90,000 tonnes of mineralized material from the BRM to New Afton over a period of two years. The Company currently has a large stockpile of approximately 180,000 tonnes of mineralized copper, gold and silver material on surface at the BRM. Under the OPA, stockpiled material will be screened and crushed and then sorted through an X-ray transmissive ore sorter prior to transporting to the New Afton mill facility. Ore sorting will separate low grade and waste from higher grade material so that only higher-grade material will be transported. The Company began screening and crushing of stockpiled material in November 2023. To-date approximately 45,000 tonnes of mineralized material on surface has been screened and crushed. All this material has been reduced to minus 3 inches in size and material that is minus 5/8 inches in size ("Fines") has been placed in a separate pile.
The Company estimates that approximately 30% of the entire stockpile will be Fines which, at minus 5/8 inches in size are too fine to be effectively separated by the ore sorter. The OPA does not currently contemplate sending Fines to New Afton, but the Company may elect to send some of this material to New Afton in addition to the higher-grade material separated by the ore sorter.
Darrell Remple, Regional Manager Mining and Aggregates at Arrow commented, "Arrow is thrilled to work with Canadian Critical Minerals Inc. on this exciting opportunity, building out a logistics network to support the success of their Bull River Mine operation".
Ian Berzins, President and CEO commented, "Now that we have the OPA in place with New Afton and secured a trucking contract with Arrow for an interim period of time, we are in a position to generate revenues from the stockpiled material on surface at the Bull River Mine in the near future".
About Canadian Critical Minerals Inc.
CCMI is a mining company primarily focused on two near-term copper production assets in Canada. CCMI's main asset is the 100% owned Bull River Mine project (>135 million lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. CCMI also owns a 34% interest in the Thierry Mine project (>1.3 billion lbs of copper) near Pickle Lake, Ontario which has a Mineral Resource containing copper, nickel, silver, palladium, platinum and gold.
Contact Information
Canadian Critical Minerals Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@canadiancriticalmineralsinc.com
Website: www.canadiancriticalmineralsinc.com
About Arrow Transportation Systems Inc.
Established in 1919, Arrow Transportation Systems Inc. is one of the oldest and most respected transportation companies in Canada. Arrow specializes in commodity hauling, facilities management, logistics management, marine services, manufacturing, product distribution and technology development. Arrow is valued for its integrity, technology and innovative transportation solutions. arrow.ca
Arrow Transportation Systems Inc. Media Contact
Amelia Hillyard
ahillyard@arrow.ca
1-250-819-9753
ThSeeker
1 year ago
Canadian Critical Minerals Inc. Signs Ore Purchase Agreement with New Afton
Calgary, Alberta--(Newsfile Corp. - October 5, 2023) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("CCMI" or the "Company") is pleased to announce that it has entered into an Ore Purchase Agreement ("OPA" or the "Agreement") to send ore to the New Afton operation for processing.
Under the terms of the OPA, CCMI will deliver up to 90,000 tonnes of mineralized material from the Bull River Mine ("BRM" or the "Project") to the New Afton operation near Kamloops, British Columbia over a period of two years. The Company currently has a large stockpile of approximately 180,000 tonnes of mineralized copper, gold and silver material on surface at BRM. Material will be screened and crushed and then sorted using a Steinert KSS 100 ore sorter prior to trucking to the New Afton mill facility. Ore sorting will separate low grade and waste from higher grade material so that only higher-grade material will be trucked. CCMI plans to begin preparing material for trucking in Q4 2023.
Ian Berzins, President and CEO of CCMI commented, "We are extremely pleased to enter into this Agreement. It provides us with the opportunity to monetize some of the value of the current surface stockpile at the Bull River Mine thereby generating first revenues for the Company. Proceeds from the OPA will be used to continue with final permitting of the Project, on-going care and maintenance costs and further capital upgrades at the Project. We are very interested to assess the applicability of ore sorting on our mineralized material on a large-scale basis as a grade control strategy. Potentially ore sorting can be integrated into the BRM milling operation in the longer term".
A
ThSeeker
1 year ago
- Canadian Critical Minerals Inc. has sold controlling interest in its subsidiary Pickle Lake Minerals Inc., which owns the Thierry Copper Mine, to Orecap Invest Corp.
- Orecap will acquire a 45% interest in Pickle Lake for $1,350,000, while Canadian Critical Minerals Inc. will retain a 39% interest.
- QC Copper will acquire 10% of Pickle Lake for $300,000, and Ocean Partners will acquire 6% of the common shares of Pickle Lake.
- The proceeds from the sale will be used to discharge a $1.0 million loan with Ocean Partners UK that is secured against the assets of Canadian Critical Minerals Inc.'s Bull River Mine.
- The sale of the controlling interest in Thierry will allow Canadian Critical Minerals Inc. to focus on advancing its flagship Bull River Mine project and increase exploration activities at Pickle Lake.
Full press release: (https://ceo.ca/@newsfile/canadian-critical-minerals-inc-sells-controlling-interest) CEOBrief_Bot summaries are AI-generated. We cannot guarantee their accuracy. Use at your own risk and always refer to the original sources. Report any errors here: # brief-bot-errors
AveragePenny
2 years ago
$RIINF $CCMI.V Canadian Critical Minerals Leases Ore Sorter for Bull River Mine Project
https://www.newsfilecorp.com/release/164269
Calgary, Alberta--(Newsfile Corp. - May 1, 2023) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("Canadian Critical Minerals" or the "Company") is pleased to announce that it has secured a Steinert KSS 100 X-Ray Transmissive Ore Sorter ("Sorter") for up-grading of mineralized copper bearing material currently stockpiled on surface at its Bull River Mine ("BRM") project near Cranbrook, British Columbia. The Sorter will be leased for a period of 12 months during which time the Company plans to screen, crush and sort the entire stockpile of approximately 180,000 tonnes of mineralized material.
Previously, the Company completed a positive ore sorting study on the BRM stockpile material using a similar X-Ray technology ("XRT") supplied by TOMRA Sorting Solutions (see press release dated April 19, 2021). XRT was determined to be the most appropriate technology for BRM material. In that study, 61% of the material reporting to the sorter was accepted as mineralized and 39% was rejected as non-economic low grade or waste. The average grade of rejected material was 0.17% copper equivalent ("CuEq") which is well below the cut-off grade ("COG") for the current Resource. The Company intends to pre-screen the entire stockpile, thereby removing approximately 25% of the mineralized material as fines. The remaining oversize material will be crushed to minus 3 inch and this material will report to the Sorter.
Ore sorting or pre-concentration of mineralized material has the potential benefits of increasing the mill feed grade which can result in an improved net present value ("NPV") of a mining project. Potential benefits include a lowering of operating costs on a unit basis, a reduction in the volume of fine tailings created through the milling process and the overall volume of material transported to the tailings storage facility, a reduction in power consumption particularly in the grinding circuit and a lower overall environmental impact. At the BRM, the fines and concentrated material accepted by the Sorter will provide feed for the mill and the waste material will not be milled. By pre-concentrating higher-grade material, the Company will have optionality to ship pre-concentrated material to another permitted milling facility thereby generating early revenues for the Company.
As a result of securing the Sorter, the Company has decided to postpone the previously announced ore characterization and sorting trial with MineSense Technologies Ltd. (see press release dated March 30, 2023).
Ian Berzins, President and CEO commented, "We were fortunate to secure a Sorter for our project at this time. Typically, a new Sorter sourced from an original equipment supplier ("OEM") will take 46 to 50 weeks to arrive and delivery can be further exacerbated by delays in the global supply chain. Access to this Sorter will allow the Company to segregate the surface stockpile and separate low-grade and/or waste material that would otherwise be sent to the mill. In addition, the Company will be able to assay the fines and concentrated mineralized material to determine a grade for the material prior to milling".
Qualified person
CCMI's disclosure of a technical or scientific nature in this news release has been reviewed and approved by Gary Low P.Geo., who serves as a Consultant to the Company and is a Qualified Person under the definition of National Instrument 43-101.
AveragePenny
2 years ago
$RIINF $CCMI.V Canadian Critical Minerals Enters Into Ore Characterization and Sorting Trial with MineSense Technologies Ltd.
https://www.newsfilecorp.com/release/160886
Calgary, Alberta--(Newsfile Corp. - March 31, 2023) - Canadian Critical Minerals Inc. (TSXV: CCMI) (OTCQB: RIINF) ("Canadian Critical Minerals" or the "Company") is pleased to announce that it has entered into an ore characterization and sorting trial with MineSense Technologies Ltd.("MineSense") for mineralized material currently stockpiled at its Bull River Mine ("BRM") project near Cranbrook, BC. MineSense's ShovelSense® system utilizes X-Ray fluorescence based sensing technology that is mounted directly to digging equipment such as front-end loaders and shovels to accurately characterize and grade with each bucket, and differentiate between low, medium and high grade mineralized material.
The objective of installing the ShovelSense system at the BRM project is to segregate higher-grade mineralized material from an existing 180,000 tonne surface stockpile that could be transported by truck and/or rail to an existing permitted milling facility in southern British Columbia for final processing. Through pre-concentration of higher-grade mineralized material at BRM, the Company may be able to generate sufficient revenues to offset transportation and processing costs resulting in economic advantage to the Company. The ShovelSense system is most effective characterizing material that is heterogeneous in nature, in that it can be separated into ore and waste based on grade. The first phase of the trial is to assess the heterogeneity of the stockpiled material and the second step will be to build a calibration model using a sampling program.
Ian Berzins, President and CEO commented, "We are excited to test the applicability of the ShovelSense system at our Bull River Mine project. The ShovelSense technology has already been integrated into grade control strategies at three Western Canadian copper mines including Copper Mountain Mining Corp, Teck's Highland Valley Mine and Taseko's Gibraltar Mine. If applicable, it could be integrated into a strategy to monetize some of the value of the current stockpile while the Company is waiting to receive permission from the BC Ministry of Energy, Mines and Low Carbon Innovation and the BC Ministry of Environment for the restart of the past-producing Bull River Mine".
The Company plans to initiate the trial within 30 days.
ThSeeker
2 years ago
Braveheart Announces Delay to Preliminary Economic Assessment at Bull River Mine
Calgary, Alberta--(Newsfile Corp. - July 13, 2022) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") hereby announces that the Preliminary Economic Assessment ("PEA") for its 100% owned Bull River Mine, near Cranbrook, B.C. has been suspended pending an improvement in metal prices.
The Company originally announced commencement of the PEA on February 9, 2022, with an expected completion within 120 days. When Braveheart originally commissioned the study, the price of copper was US$4.50 per lb. Since that time, the price of copper has declined to US$3.35 per lb. The Company continues to exercise discipline in any of its cash spending. As a result, the financing of any technical study, not specifically related to the permit application to restart the Bull River Mine project, has been put on hold.
The Bull River Mine is fully developed and dewatered 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 700 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.
Ian Berzins, President and CEO, commented, "We look forward to completing a PEA study on the Bull River project, but this will not occur before the third quarter of 2022 and may be further delayed if commodity prices remain under pressure. Delay of this study will not impact on Braveheart's current discussions with the Ministry of Energy, Mines and Low Carbon Innovation ("EMLI"), the Ministry of Environment and Climate Change Strategy and the Environmental Assessment Office ("EAO") of British Columbia regarding its permit application to begin processing existing mineralized stockpiled material on surface at the mine and then resume underground mining operations."
ThSeeker
2 years ago
Braveheart Resources Completes Loan Conversion Agreement with Matlock Farms
Calgary, Alberta--(Newsfile Corp. - June 29, 2022) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") is pleased to announce that the Company has completed a Loan Conversion Agreement (the "Agreement") with Matlock Farms Ltd. ( the " Lender"). Braveheart and the Lender are parties to a loan agreement (the "Loan Agreement") dated January 19, 2019, as amended January 19, 2021, pursuant to which Braveheart has borrowed a principal amount of $5,000,000 (the "Principal") from the Lender.
The parties have entered into this Agreement to amend the terms of the Loan Agreement to allow the conversion of the Principal plus accrued interest of approximately $500,000 into a 3% net smelter royalty (the "NSR") on the Bull River Mine project near Cranbrook, British Columbia.
Highlights of the Agreement include the following:
The NSR will be capped at a maximum of $6,750,000 (the "Maximum NSR Payment"). Braveheart will make bi-annual payments on or before June 30th and December 31st of each year of $150,000 as advance payments against the NSR and such payments shall be deducted against and reduce the Maximum NSR Payment.
Upon satisfaction of the Maximum NSR Payment, the royalty rate under the NSR shall be reduced from 3% to 0.25%. The 0.25% NSR can be purchased by Braveheart at any time for $1,000,000.
Upon execution of this Agreement the obligations owed by Braveheart to the Lender under the Loan Agreement shall be paid in full and all other indebtedness of Braveheart under the Loan Agreement shall be satisfied in full.
Ian Berzins, President and CEO, commented, "We are extremely pleased to complete this Loan Conversion Agreement with Matlock Farms Ltd. Our balance sheet has significantly improved with the elimination of $5,500,000 in debt and the Agreement does not result in share dilution. The Agreement improves our ability to raise new capital to complete the restart of the Bull River Mine project. The Loan Agreement was originally required to allow us to purchase the Bull River Mine project. The Company expects that the Maximum NSR Payment will be completed over the first four years of the mine life."
ThSeeker
2 years ago
Just found out the why? -- Bob Moriarty at 321gold.com just wrote a new editorial on Braveheart. He has a strong following.
Metals Up for Rebound.
Braveheart Ready
Bob Moriarty
Archives
May 16, 2022
In the entire financial universe nothing ever goes straight up or straight down with perhaps the exception of the 10,267-clipto currencies led by Bitcon. Corrections and rebounds happen on a regular basis.
I follow the Daily Sentiment Indicator closely as my regular readers are well aware. The DSI for the Stock Indexes and most foreign currencies hit near record lows in the last three weeks but have turned higher as the DSI for the Dollar Index has been dropping making the market for resources more favorable. Monday the 16th of May is a full moon and would be a great time for a rebound in shares including resource stocks that have been hammered over the past month. If there is a rebound, get cashed up.
I’m on record as saying I believe we are in the greatest financial collapse in history. I use as a comparison the DOW Jones dropping 89% between September of 1929 to July of 1932. But even during that period there were big rallies that managed to convince the ordinary investors, indeed even the “experts” that the worst was over.
So basically I think bonds are going to crash, the stock market is going to crash; the clipto currencies have already lost $1.7 TRILLION. In short, investors are going to dump everything that will catch a bid to get the margin clerk off their backs.
So I’m going to do my very best to find stories that are so compelling that they will hopefully remain afloat as the rest of the fleet sinks to the bottom.
Braveheart Resources (BHT-V) certainly qualifies by every measure. The company has two 100% owned properties. One has 100 million pounds of high-grade CuEq at the Bull River Mine in Cranbrook, B.C. It’s a project that has had $200 million spent on mine development for production between 1976 and 2010 and $100 million on existing usable infrastructure. Bull River has a 6.5-year life and an awesome ROI of 92% on an investment of $6.5 million. The project comes with $30 million worth of already mined ore at the surface.
The 2nd major project, a Copper-Nickel deposit, the Thierry Mine at Pickle Lake, Ontario contains 1.3 billion pounds of copper at 1.6%+ and an after tax NPV of $488 million at a 6% discount rate giving a 36%+ IRR with a fourteen year mine life. At today’s price for copper as I write, that is $5.3 billion worth of copper in the ground. That should be worth something.
Preproduction costs for the first three years in the latest PEA call for a total of $322 million offset by operating cash flow of $180 million so only $142 million would be required to put the 4,000 TPD mine back into production. Payback is a tiny 3.1 years.
It is no secret that we are not headed for a copper and nickel shortage. We are there.
If the world is to transition to an EV world we have to have a lot more nickel and copper than is being produced today. Both of these mines will be put back into production. While inflation is obviously an issue with any numbers people are guessing today, if diesel and electricity go up, so does the price of copper and nickel.
If Braveheart has an issue that has created the absurd situation where a company sitting on almost $6 billion worth of copper, nickel, gold and silver has a market cap of $17 million it is because the company is run by mine builders. They have a good website and lots of nice technical data but the market simply doesn’t understand the story. The stock is absurdly cheap and down 35% in the last month as the margin clerks ran havoc with the resource sector. The low for the last year is $.06 and frankly I don’t consider a 20% drop much of a risk.
I made a lot of money in early 2016 when the market went nuts buying a lot of stocks selling for less than $.10. This was over $.10 a month ago and buying today and selling at the high in the last 30 days would make almost a 50% profit. That’s worth doing.
Braveheart is an advertiser so I am biased. Do your own due diligence.
Braveheart Resources
BHT-V $.075 May 13, 2022
RIINF-OTCBB 224 million shares
Braveheart website
###
Bob Moriarty
President: 321gold
Archives
ThSeeker
3 years ago
A Copper Junior Trading 55% Below Our Worst-Case Scenario
An updated Preliminary Economic Assessment (PEA) on the Thierry Mine project (Ontario) confirmed that the initial CAPEX can be lowered by 21%, by mining the upper workings initially, and deferring the construction of a shaft to access the lower workings.
FRC Research
As a result, the project’s AT-NPV6% increased 20% to $287M, with an attractive AT-IRR of 25%. We are raising our fair value estimate on this company from $0.39 to $0.45 per share.
This company has obtained an exploration permit. Management is planning a 5,000 m drill program to potentially upgrade and expand the current resource estimate.
A PEA on the Bull River mine is expected by May-June 2022. As the initial CAPEX estimate is very low ($6.5M), we are expecting robust economics.
https://www.researchfrc.com/wp-content/uploads/2022/04/BHT-April-2022-Update.pdf?utm_source=ActiveCampaign&utm_medium=email&utm_content=A+Copper+Junior+Trading+55++Below+Our+Worst-Case+Scenario&utm_campaign=Braveheart+Resources+Inc++%28TSXV%3A+BHT+%2F+OTCQB%3A+RIINF%29+-+Trading+55++Below+Our+Worst-Case+Scenario+-+Free&vgo_ee=eLkoaQ0QFwoR6N1zcB1IjQ%3D%3D
ThSeeker
3 years ago
Fundamental Research Corp's new Report on Braveheart shows that fair value is C$0.45 BUY Current Price: C$0.10
Highlights
* An updated Preliminary Economic Assessment (PEA) on the Thierry Mine project (Ontario) confirmed that the initial CAPEX can be lowered by 21%, by mining the upper workings initially, and deferring the construction of a shaft to access the lower workings.
* As a result, the project’s AT-NPV6% increased 20% to $287M, with an attractive AT-IRR of 25%. We are raising our fair value estimate on BHT from $0.39 to $0.45 per share.
* BHT has obtained an exploration permit. Management is planning a 5,000 m drill program to potentially upgrade and expand the current resource estimate.
* A PEA on the Bull River mine is expected by May-June 2022. As the initial CAPEX estimate is very low ($6.5M), we are expecting robust economics.
* is working on a permit application to resume production. We note thmayat permitting remains a key risk for projects in B.C. Our discussions indicated that management is expecting to receive a permit by Q4-2022. If successful, we do not believe they will have any challenges raising capital, and/or advancing the project to production.
* In our worst-case scenario, the company runs into permitting issues at Bull River with zero value assigned to the project, our fair value estimate drops to $0.22 per share. BHT is trading at a 55% discount to our worst-case scenario.
* We believe the current environment (inflation, potential for additional supply chain disruptions amid rising tensions between the West and East, and high oil prices, partially offset by slower growth in China) will support metal prices.
* Upcoming catalysts include drilling, permitting, and a PEA on Bull River.
ThSeeker
3 years ago
Braveheart Resources Closes $826,250 Financing
Calgary, Alberta--(Newsfile Corp. - February 16, 2022) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") has closed a financing for proceeds of $826,250, comprising of 11,016,667 units with an issue price of $0.075 per unit. Each unit consists of one common share and one common share purchase warrant. Each warrant is exercisable into a common share at an exercise price of $0.1175 per share for a period of two years.
The Company paid commissions to eligible finders under the offering totalling $4,500 and 60,000 finder's warrants, with each finder's warrant exercisable into a common share at an exercise price of $0.075 per share for two years.
All securities issued under the offering are subject to a statutory hold period that expires four months and one day from issuance.
Proceeds from the financing will be used primarily for permitting and development activities at the Bull River mine project near Cranbrook, B.C.
The Company further announces that pursuant to its stock option plan, the Company has granted 4,000,000 options at an exercise price of $0.075 with an expiry date of five years from the date of issue to certain directors, officers, employees and consultants of the Company.
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 (>135MM lbs of copper) near Cranbrook, British Columbia which has a Mineral Resource containing copper, gold and silver. Braveheart's latest acquisition is the 100% owned Thierry Mine project (>1,300MM 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: iberzins@braveheartresources.com
Website: www.braveheartresources.com
For more investor information, please contact Braveheart at:
Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
E: mgrigo@braveheartresources.com
ThSeeker
3 years ago
Now even more undervalued NEWS:
Ian Berzins, President and CEO, commented, "We are extremely pleased with the results of the up-dated Mineral Resource. This represents increases in copper metal of 23% in the Indicated Mineral Resource and 230% in the Inferred Mineral Resource from the 2018 Mineral Resource estimate. Additionally, both gold and silver metals increased by 63% and 71% respectively compared with the 2018 Mineral Resource estimate. The results are encouraging because we have significant overall increases in copper, gold and silver notwithstanding the use of a higher COG of 0.9% CuEq in the new Mineral Resource versus 0.6% CuEq in the previous Mineral Resource."
https://www.newsfilecorp.com/release/107042
ThSeeker
3 years ago
UNDERVALUED: News -Braveheart Resources Appoints Peter Lacey as Independent Director
Calgary, Alberta--(Newsfile Corp. - October 27, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") is pleased to announce the following changes to the Board effective this date. Peter A. Lacey, ICD.D has agreed to join the Board as an Independent Director of the Company. Brian Murray, one of the co-founders of Braveheart and its longest standing Director has notified the Company of his intention to retire.
Mr. Lacey is an international businessman and the founder and former Chairman of Cervus Equipment Corporation (TSX: CERV) ("Cervus"), a Canadian public company headquartered in Calgary, Alberta. Cervus comprises 63 equipment dealerships located across Western Canada and Ontario, representing John Deere agriculture equipment, Peterbilt Truck dealerships and material handling dealerships. Cervus also operates John Deere dealerships in Australia and New Zealand. On October 22, 2021, Mr. Lacey and the management team at Cervus completed the sale of Cervus to Brandt Tractor Ltd. ("Brandt") for approximately $302 million in the aggregate.
Mr. Lacey is currently Chairman of Hemostemix Inc., a startup stem cell public company (TSXV: HEM) which has 91 global patents and is completing Phase 2 clinical trial for FDA approval. He has most recently served as Lead Director for Entrec Corporation and Audit Committee Chairman for Memex Inc, two other Canadian publicly companies, as well as director for several other private companies. Mr. Lacey served on the Red Deer College Board of Governors for seven years including four years as Chairman. He has also served as a director and past President of the Board of Canada West Equipment Dealers Association, a trade association serving the farm equipment dealer industry in Western Canada.
Mr. Lacey received his ICD.D designation from the Rotman School of Business in Toronto, Ontario and the Institute of Corporate Directors in 2015.
Peter Lacey commented: "I am excited to join Braveheart as an independent director. Braveheart has acquired two significant past-producing copper projects in Canada. Based on the quality of its assets Braveheart is currently under-valued. My top priority will be to assist management in completion of a restart of the Bull River Mine. I am very familiar with the Bull River project and believe it is one of the most advanced copper projects in Western Canada that can become a copper producer within the near term".
David W. Johnston, Chairman of the Board commented: "I am extremely pleased to welcome Peter Lacey to our Board. Peter has a strong business acumen and is a seasoned executive and director. His diverse industry background will further strengthen the depth of our Board. I want to thank Brian Murray for his guidance and support as a founder of Braveheart. He helped lay the foundation for the Company we have today. We wish Brian all the best in retirement".
The Company is also pleased to announce the release of its consolidated financial results for Q1 2022 ending August 31, 2021. Detailed results and management's discussion and analysis are now available on SEDAR.
ThSeeker
3 years ago
Braveheart Resources Announces Financing
Calgary, Alberta--(Newsfile Corp. - June 17, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company) hereby announces a financing consisting of up to 5,000,000 units ("Units"), priced at $0.10 per Unit for proceeds of $500,000 (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 $0.14 per share for a period of 24 months from the Offering.
The Company may pay finder's fees from the gross proceeds of the Offering in the form of cash and warrants. The proposed financing and any finder's fees are 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 exploration activities and infrastructure up-grades at its 100% owned Bull River Mine project near Cranbrook, British Columbia.
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.
ThSeeker
3 years ago
Braveheart Intersects 19.8% Copper over 0.6 Metres at Bull River Mine Project
Potential for expansion of mine life
Calgary, Alberta--(Newsfile Corp. - June 7, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) ("Braveheart" or the "Company") is pleased to report that it has intersected high grade copper mineralization at the Bull River Mine project.
H1 2021 Drill Program at Bull River Mine
BRU-21-01intersected 19.79% copper and 98.6 g/t silver over 0.6 metres within a broader intersection of 5.12% copper, 28.6 g/t silver and 0.63 g/t gold over 3.4 metres. This intersection does not represent the true width of the structure.
All four holes that have been drilled to-date as part of the 2021 drilling program have intersected mineralized structures below the current workings of the mine which are only 350 metres below the portal.
The Company has now intersected mineralized structures approximately 550 metres below the portal. To-date assays have been received on only one of the four holes drilled.
The purpose of the H1 2021 drilling program and subsequent drilling in H2 2021will be to test the down dip extension of the vein systems under the current workings. Approximately 1,000 metres of drilling is planned for the second quarter of 2021. This program was originally initiated in March 2020 but suspended due to health and safety protocols resulting from the onset of COVID-19 after the completion of 831 metres of drilling.
The Company plans to follow-up on the results of the 2020 drilling program and on several historical diamond drill holes that are located below the current workings. One historical drill hole, BRU00-035, that is located below and to the east of the current resource model of the Main South Vein, yielded a composite average of 2.86% Cu over 9.9 metres including 4.27% Cu over 6.0 metres. A second historical drill hole, BRU09-10 yielded a composite average of 3.21% Cu, 21.29 g/t Ag and 1.18 g/t Au over 4.15 metres. These values do not represent true widths. All holes in the 2020 program were drilled from underground workings on 9 Level and collared in 9E4XC Ext Re-muck. All five holes from the spring 2020 program intersected mineralized structures in the central portion of the South Vein at depths of approximately 115 metres below 9 Level, which represented the deepest level of the mine about 350 metres below the elevation of the mine portal prior to the 2021 program.
Ian Berzins, President and CEO, commented, "We are extremely pleased with the initial results from this year's drill program. Not only have we intersected high-grade copper mineralization below our current workings, but the silver and gold values appear to be increasing at depth relative to our current NI 43-101 Mineral Resource which was completed in January 2019 by Sue Bird of Moose Mountain Minerals."
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, silver, palladium, platinum and gold. Braveheart also has an option to purchase the Alpine Gold project near Nelson, British Columbia.
Contact Information
Braveheart Resources Inc.
Ian Berzins
President & Chief Executive Officer
M: +1-403-512-8202
E: iberzins@braveheartresources.com
Website: www.braveheartresources.com
For more investor information, please contact Braveheart at:
Manish Grigo
Director, Corporate Development
M: +1-416-569-3292
ThSeeker
3 years ago
Braveheart Engages Maple Leaf Forestry for Upgrade to Alpine Gold Mine Access Road
Calgary, Alberta--(Newsfile Corp. - May 6, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart" or the "Company") announces that it has engaged Maple Leaf Forestry Inc. ("MLF") of Cranbrook, B.C. to design, gain government approval to build and facilitate construction of an upgraded access road to the Alpine Gold mine property ("Alpine") near Nelson, B.C. The route selected will utilize existing forestry service access on Aerie Face and require new construction to the existing Sitkum Forest Service Road ("FSR") that accesses the mine claims. The initial budgetary estimate from MLF to construct the road is $350,000 given that a road is already in place that requires widening and upgrading. Once the road is upgraded the Company will have permanent access to the existing mine site for people, equipment and supplies and will be less reliant on helicopter assisted movements.
On March 3, 2021, the Company announced that it had entered into a new option agreement to acquire a 100% interest in Alpine (see press release on SEDAR) under revised terms to the original option agreement. Terms of the new option agreement include the following:
(a) Issuance of 1,000,000 shares of Braveheart on signing to the Optionor.
(b) A cash payment of $100,000 to the Optionor by April 15, 2022.
(c) Property expenditures of up to $700,000 to complete permitting and construction of an upgraded road to the mine site from Nelson by December 22, 2022.
(d) A cash payment of $1,400,000 to the Optionor by December 15, 2023.
(e) A cash payment of $1,500,000 to the Optionor by December 15, 2024.
Under the original agreement (see press release dated November 15, 2016 on SEDAR), the Company was required to make cash payments of $3,385,000, issue 1,400,000 shares over a six-year period ending in 2021 and complete property expenditures of $1,600,000 in exploration on the property. The Company was also required to issue an additional 1,000,000 shares upon completion of a NI 43-101 technical report that identified greater than 300,000 tonnes of mineralized material at an average grade of greater than 12 g/t of gold. This latter requirement was satisfied with the completion of a NI 43-101 compliant report and the shares were issued to the vendors on January 7, 2019. To-date the Company has issued in aggregate 2,000,000 shares to the vendors and subject to TSX-V approval will issue an additional 1,000,000 shares as per the revised terms of the new option agreement. To-date the Company has completed approximately $900.000 in property expenditures and no further property expenditures are required other than completion of the upgraded road from Nelson to the mine site.
ThSeeker
4 years ago
Braveheart to Commence Underground Drilling Program at Bull River Mine Project
Calgary, Alberta--(Newsfile Corp. - April 29, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart" or the "Company") announces that it plans to resume drilling from underground workings at the Bull River Mine project effective May 3, 2021. The purpose of the drilling program will be to test the down dip extension of the vein systems under the current workings. Approximately 1,000 metres of drilling is planned for the second quarter of 2021. This program was originally initiated in March 2020 but suspended due to health and safety protocols resulting from the onset of COVID 19 after the completion of 831 metres of drilling.
The Company plans to follow-up on the results of the 2020 drilling program and on several historical diamond drill holes that are located below the current workings. One historical drill hole, BRU00-035 that is located below and to the east of the current resource model of the Main South Vein, yielded a composite average of 2.86% Cu over 9.9 metres including 4.27% Cu over 6.0 metres. A second historical drill hole, BRU09-10 yielded a composite average of 3.21% Cu, 21.29 g/t Ag and 1.18 g/t Au over 4.15 metres. These values do not represent true widths. All holes will be drilled from underground workings on 9 Level and collared in 9E4XC Ext Re-muck. All five holes from the spring 2020 program intersected mineralized structures in the central portion of the South Vein at depths of approximately 115 metres below 9 Level, which represents the deepest level of the mine about 350 metres below the elevation of the mine portal.
ThSeeker
4 years ago
Braveheart Completes Concentrate Offtake Agreement and Stockpile Financing Facility with Ocean Partners
Calgary, Alberta--(Newsfile Corp. - April 21, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) ("Braveheart" or the "Company") is pleased to announce that it has completed security registration for the previously announced Pre-Payment Financing Facility (the "Facility") with Ocean Partners UK Ltd. ("Ocean") for the sale of its copper concentrates (with gold and silver credits) from its Bull River Mine ("Bull River") near Cranbrook, British Columbia as described in the Company's press release issued on March 13, 2021. Braveheart reports that it has made an initial draw of USD $1,000,000 from the Facility less the arrangement fee and expenses associated with due diligence and legal fees.
The Facility provides Braveheart with access to up to USD $3,500,000 which can be used for capital expenditures at Bull River including plant commissioning and general working capital purposes. Interest on any amounts drawn from the Facility is at 12-month LIBOR plus 8.75%. Any monies drawn on the Facility will be repaid as a flat deduction per dry metric tonne of concentrate produced. Subsequent draws will be subject to the Company meeting certain conditions precedent including receipt of an operating permit to dispose of tailings, completion of an equity raise to cover any remaining capital requirements to bring Bull River into production and commencement of milling of the surface stockpile.
Ian Berzins, President and CEO commented: "Braveheart's top priority is restarting Bull River. Access to this initial tranche allows Braveheart the flexibility to continue with capital upgrades at the mine including the commissioning of a 10 MVA transformer and related switchgear."
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2 years ago
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