Braveheart Resources Inc. (OTCQB:RIINF)

Braveheart Resources Inc. (OTCQB:RIINF)

Stock Quote
About
Braveheart is a Canadian based junior mining company focused on building shareholder value through exploration and development in the favorable 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 meters 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

Current Braveheart Resources Inc. Projects:

-Bull River Mine:

The primary focus of the company is the restart of the newly acquired and 100% owned Bull River Mine near Cranbrook, British Columbia. The mine is an underground operation hosting copper, gold, silver and cobalt mineralization.

The company 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 Misfile 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 meters with NQ2 core.

On August 16, 2019 Braveheart received an amendment to its Mines Act Permit M-33 from British Columbia Energy, Mines and Petroleum Resources (“EMPR”). The amendment provides approval for exploration drilling and groundwater drilling at the permitted mine area of approximately 116 hectares. Since receipt of the permit amendment Braveheart has completed a condemnation drilling program at the property and expects to complete a groundwater drilling program by the end of October 2019.

The groundwater drilling program will include the installation of water wells and monitoring of the wells. This information will supplement the surface water monitoring programs already in place at the mine property. Implementation of the expanded groundwater monitoring program is also a critical component of the Major Mines Permit application. The Bull River Mine property is currently on care and maintenance with the existing underground workings being maintained in a dewatered condition.

The Company also announces results from the initial surface drilling program at the Company’s 100% owned Empire Strathcona property which is located approximately 12 kilometres from the Bull River Mine property and is part of the Company’s large contiguous land package. The Company completed a total of 14 drill holes this summer. All drill holes intersected narrow mineralized structures, but grades of the mineralized material to-date do not support further exploration at this location at this time. The Company intends to focus future exploration activities on targets in closer proximity to the existing mineral resource at the Bull River Mine property including targets that are best approached from the existing underground workings. Based on drilling activities completed this summer at the Bull River Mine property Mineral Titles On-Line expiry dates have been extended until May 2022 for the entire property.

The Company continues to work with the British Columbia Hydro and Power Authority (“BC Hydro”) on completion of a System Impact Study Agreement for the Bull River Mine property. The study is required to assess the impact of connecting the customer’s plant to BC Hydro’s transmission system. The Company is currently connected to grid power but plans to increase the load to 10 MVA prior to a restart of operations. The Company is pleased to announce that it has secured a used transformer that will meet the immediate needs of the project and provide for expansion capability. It is expected that the transformer will be moved to the mine property later this fall,.

- Bull river mine deposit geology:

The Bull River deposit(situated on a mineral claim encompassing 252 hectares) is the largest, and therefore the most important, mineralized zone on 9,785-hectare therefore the most important, mineralized zone on the property that Braveheart recently acquired. Here, the Aldridge Formation hosts copper deposits (along with silver and lesser amounts of gold and cobaltite) in vertical or near quartz-carbonate-chalcopyrite-pyrite veins. The vein structures, which contain copper, silver and gold are associated with intrusions within meta sedimentary rock and are commonly continuous for several hundred meters in length and vary from a few centimeters to 30 meters in width,.

The Bull River deposit is situated within the Purcell Anticlinorium, which extends from south astern British Columbia into the northwestern United States. The Purcell Anticlinorium is a large anticline with a ridge shaped fold of stratified rock formations, which slope downward from the crest. The Bull River Mine Property is underlain by the Purcell Supergroup a thick sequence of Middle (Meso) Proterozoic sedimentary rocks, whose base is the Aldridge Formation which hosts numerous mineral occurrences, similar to the Sullivan, Estella, Kootenay King and St. Eugene deposits. The Aldridge Formation is fundamentally a sedimentary rock complex intruded by sills and dykes, which are associated with vein deposits, primarily copper, lead. zinc, silver and gold. The magmatic intrusions into the Aldridge Formation subjected the adjacent sedimentary rock to metamorphism,

The Aldridge Formation is primarily characterized by thick beds of graded sedimentary turbidite, probably the product of shallow water, deltaic sedimentation.These turbidite beds are composed of sediments that gradually alter in composition from fine to coarse-grained as a result of the underwater currents turbidity which was present when the sediments were deposited. Interbedded between the turbidite beds are sedimentary layers of siltstone and argillites (lithified mud).

Located 161 kilometers west of Fort Nelson on northeastern British Columbia and situated 8.5 kilometers
north-northwest of Mount Roosevelt within the Moskva Anticlinorium, the Churchill deposit was discovered in 1943. Production at the Churchill Mine began in 1970 and ended in 1975. The Mine was a topic in The Canadian Institute of Mining and Metallurgy Bulletin in 1971 and ultimately became the exemplar of a type of copper veins.
Churchill-type is a subtype of the vein copper deposit class that is associated with mafic intrusive rocks. Simplistically, the distinguishing characteristics of the Churchill-type deposits are that they are relatively small copper deposits (between 10,000 and 1,000,000 tonnes) grading between 1% and 4% Cu, typically occurring as veins (or vein networks), and associated with intrusions in meta-sedimentary rock structures. Individual veins typically range from tens-to 500 meters in length and dilate from centimeters to tens of meters in width. The foremost copper ore material in Churchill-type deposits is chalcopyrite and the principal gangue minerals are quartz and pyrite. By 2006, the Bull River deposit was being described as a Churchill type vein copper-silver deposit,
.
In 2012 the NI 43-101 compliant Technical Reports were describing the copper vein deposits of the Bull River Mine as being similar to the Churchill Copper deposit in British Columbia.the Bull River deposit displays characteristics of a Churchill-type copper vein deposit: relatively small low tonnage (Indicated Resource Estimate of 2,179,000 tones at a Cu equivalent grade cut-off of 0.6%), occurring in a Proterozoic sedimentary formation and comprised of complex, dilating vein systems in which the predominant copper source is chalcopyrite. In 1995, a diamond drill exploration program conducted by Master Mineral Resource Services for R. H. Stanfield identified several
on echelon copper-silver-gold mineralized zones which were grouped into two clusters identified as the Central Section and the Western Section of the Underground Zone. Note the similarity of the vein structure to the Churchill Mine.

'-Braveheart Resources Inc acquires the Bull River Deposit through favorable acquisition:
.
On November 19, 2018 the Supreme Court of British Columbia approved a Plan of Arrangement by which the assets and mining properties of Purcell Basin Mineral Inc. would be transferred to Braveheart Resources Inc. As part of Braveheart's due diligence and to support the TSX Venture Exchanges review of the transaction, the company commissioned Moose Mountain Technical Services for a NI 43-101 Technical Repor on the Galloway Bull River Mine (aka Bull River Mine). Though dated January 22, 2019, the reports effective date is November 4, 2018. The Technical Report updated the mines Resource estimate, expanding its detail by estimating the Indicated and Inferred resources over a range of copper equivalent cut-offs.. On January 21, 2019 the transaction closed, and
Braveheart Resources acquired Purcell Basin Minerals according to the offer under the Plan Arrangement described above. Of the scalable claims,the priority payables totaled $1,184,652, The unsecured creditors received 4,276,248 shares and Purcell shareholders were issued 15,994,880 shares.
.
-Braveheart Resources Inc. valuation::

Based on Zacks research reports calculation of share value of attributable resources our target for Braveheart Resources stock is $0.65.
.
--Alpine Mine Property:

Braveheart Resources Inc.has received a technical report recently completed on its Alpine Mine property near Nelson in southeastern British Columbia. The report was prepared by Bernhardt Augsten, P.Geo. on behalf of the previous owners of the Alpine Mine property just prior to its acquisition by Braveheart..

The report summarizes field work completed on the Alpine Mine property in the summer of 2016. The work was initiated with the purpose of attempting to trace out the exposed portion of the Alpine vein system to the west and northwest of known occurrences in the vicinity of the westerly termination of the Number 6 Level of the original Alpine Mine. From this point the Alpine vein structure was traced intermittently for approximately 1.8 km to the northwest. Evidence for this was the presence of in-situ auriferous quartz veining and quartz vein float. Samples collected along this traverse ranged in assay values from <0.03 g/t gold to 42.3 g/t gold.

Workings are located approximately 1.8 km to the south-southwest of the Alpine mine. At the old Gold Crown workings selected samples of partially oxidized sulphide-bearing quartz vein material from mine dumps returned 267 g/t gold and 47.6 g/t silver. The Gold Crown is located approximately 620 m to the southeast of the Alpine Mine area.

Braveheart Resources Inc. is a publicly traded company listed on the OTCQB under the ticker symbol RIINF. This is not investment advice. Please view the disclaimer found on this website.
Video
Infographics
  • Website

  • Founded Year 2014

  • Employee Size 11 - 50

  • Address 2520 16th Street NW Calgary, ALB T2M 3R2 Canada