Announcement Date: 2022-04-04
Announcement Type: PEA
Announcement Code: NI43-101
Company name: Braveheart Resources Inc.
Project name: Thierry Mine
Location: Canada
Commodities: Copper,Nickel
Highlight: PEA results incl. post-tax NPV (6%) of C287M & IRR of 25%
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: Calgary, Alberta–(Newsfile Corp. – April 4, 2022) – Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (FSE: 2ZR) (“Braveheart” or the “Company”) has completed an updated Preliminary Economic Assessment (PEA) for its Thierry Mine Project (“Thierry”) near Pickle Lake, Ontario. The updated PEA was independently prepared by P&E Mining Consultants Inc. (“P&E”) of Brampton, Ontario under the supervision of Eugene J. Puritch, P.Eng., FEC, CET. Highlights of the updated PEA The updated PEA focused on mining of the Mineral Resources at the Thierry underground mine by postponing the commissioning of a new shaft to access the lower workings of the mine until initial capex is paid back. The updated PEA indicates a 14-year mine plan based on a 4,000 tonne per day underground mining and processing operation. The Thierry underground mine is currently flooded but there are approximately 40 kilometres of underground shafts, ramps, raises and drifts which will provide access to the upper workings of the mine.
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