TORONTO, ONTARIO, (Newsfile Corp. – August 29, 2017) - Braveheart Resources Inc. (TSXV: BHT) ("Braveheart" or, the "Company") announces the commencement of its planned 2017 Drilling Program. This follows its success in recently completing the last tranche of a non-brokered private placement financing consisting of 125,000 flow-through units at $0.06 per flow-through unit and 1,600,000 units at $0.06 per unit for gross proceeds of $103,500.
This results in an oversubscribed total financing raise of $804,000 and will finance the 2017 drilling program and general working capital. All securities issued pursuant to the financing will be subject to a four month hold period.
Phil Keele, Braveheart President and CEO stated, “The objective of this drilling program is to improve our understanding of the gold potential on the down dip side of the vein structure at the Alpine Mine Property ("Alpine"). Alpine has a rich history of gold production primarily dating back to the 1930’s and 40’s. These workings still exist today. This drilling will improve our estimate of what additional gold resource potentially exists on this exciting, high grade property. Drilling core holes that intersect the vein structure and then analyzing the core in a qualified laboratory enables us to do just that. We are confident that our drilling contractor, Lucky Drilling Ltd, supported by the competent services of TerraLogic Exploration Inc. and Masse Environmental Consultants Ltd., will enable the completion of a series of strategically selected drill holes safely, efficiently, on budget and in an environmentally sensitive manner. I am grateful to all of our shareholders that believe, like I do, in the value of Braveheart Resources Inc. and the growth of its suite of BC gold properties.”
- This fully funded drilling program will include mapping, geological sampling and surveys, laboratory work and conceptual mine planning that will extend through 2017.
- The program consists of approximately 1,500 meters of diamond drilling.
- The drilling permit is valid for 5 years.
- According to historical records, maintained by BC Ministry Energy and Mines, Alpine produced more than 16,000 tonnes of mineralized material generating more than 11,000 oz Au over its life.
- An extensive sampling program is being conducted on mineralized dumps located at Alpine. This will be compared to historical work performed by Cove Resources in 1989.
- A selective rock sampling program undertaken on mineralized dumps in 2011 at Braveheart’s Black Prince, Gold Crown and King Solomon mines indicated that significant gold grades can occur.
- For more information on Braveheart Resources Inc. including photos visit our website at www.braveheartresourcesinc.com
About Braveheart Resources Inc.
Braveheart is a Canadian based junior exploration company focused on building shareholder wealth through aggressive exploration in a favorable and proven mining jurisdiction - the West Kootenays in southeast British Columbia (silver and gold). Particular focus is on the Alpine Mine, a past producing property 20 km northeast of Nelson. Braveheart's shares are listed for trading on the TSX Venture Exchange under the symbol BHT.V. Braveheart currently has 34,581,173 common shares issued and outstanding.
Braveheart’s disclosure of a technical or scientific nature in this news release has been reviewed and approved by Mr. Jim Decker, P.Eng., a consultant to Braveheart who serves as a qualified person under the definition of National Instrument 43-101.
Phil Keele, P.Eng., President and CEO
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 is necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, (more) 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 Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy of this news release.