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Braveheart Resources (TSXV: BHT) is working towards generating cash flow from bulk sample programs

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Today’s featured company is Braveheart Resources (TSXV:BHT), a junior exploration company, that is working towards generating cash flow from its bulk sample programs. The company’s properties are located in southeast British Columbia, where the company has reported high grade results, from the Referendum and Whitewater properties, of up to 85 grams per tonne gold.

Additional Information:

Company: Braveheart Resources
Website: https://www.braveheartresourcesinc.com
Stock Symbol: TSXV: BHT
Date Published: Apr 7, 2016
Transcript: Available

Video Transcript:

I’m Tia Borden for Investmentpitch media

Today’s featured company is Braveheart Resources (TSXV:BHT), a junior exploration company, that is working towards generating cash flow from its bulk sample programs.

The company’s properties are located in southeast British Columbia, where the company has reported high grade results, from the Referendum and Whitewater properties, of up to 85 grams per tonne gold.

This is an area that has reported historic production of more than 5 million ounces of gold and 30 million ounces of silver.

Braveheart recently sent about 30 kilograms of Whitewater material to a commercial gold processing plant.

After crushing and blending the entire sample, two separate pulps were prepared and analyzed in duplicate, resulting in average grades of 15.6 grams per tonne gold.

Additional tests at the processing plant showed that the head grades ranged between 8.8 and 18.6 grams per tonne gold, with bottle roll results showing an average gold recovery of 95.1%.

The processing plant has presented Braveheart with a draft ore purchase and sale agreement, which the company is using as a basis to negotiate an agreement for processing material from this year’s planned 1,000 tonne bulk sample.

This implies that Braveheart would excavate material at the Whitewater deposit, and truck it to the processing plant.

The company’s 1,500 metre drill program is already permitted, and the bulk sample permit is expected to be submitted before the end of April.

The company is well equipped, and during 2015, the company excavated a 250 tonne bulk sample at the nearby Referendum Property, where 150 kilograms of concentrate produced an average of 59 grams per tonne gold.

The company has identified drill targets on this property for 2016.

Future plans include developing a 50,000 tonne per year gold mine, operating at approximately 150 tonnes per day, as well as expanding reserves and developing a second deposit.

The company anticipates utilizing cash flow to fund the drilling.

The company previously announced a non-brokered financing of up to $500,000, comprised of both regular units and flow-through units, both priced at $0.05 per unit.

The regular units contain a full warrant, whereas the flow-through units contain one-half a warrant, with each full warrant exercisable at $0.10 for 18 months.

The company anticipates closing this financing by the end of April.

The shares are trading at $0.04, and with 19.4 million shares outstanding, the company is capitalized at $800,000.

For more information, please visit the company’s website, www.braveheartresourcesinc.com, contact David W. Johnston, President & CEO, at 4030-701-2781 or email davidwjohnston@shaw.ca.

I’m Tia Borden for Investmentpitch media