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Braveheart Announces Positive Preliminary Economic Assessment for Thierry Mine Project
Calgary, Alberta--(Newsfile Corp. - January 14, 2021) - Braveheart Resources Inc. (TSXV: BHT)...
About this update from Canadian Critical Minerals Inc
[{"type":"text","content":"Braveheart Announces Positive Preliminary Economic Assessment for Thierry Mine ProjectCalgary, Alberta--(Newsfile Corp. - January 14, 2021) - Braveheart Resources Inc. (TSXV: BHT) (OTCQB: RIINF) (\"Braveheart\" or the \"Company\") is pleased to announce the completion of a positive Preliminary Economic Assessment (\"PEA\") for its newly acquired Thierry Mine Project (\"Thierry\") near Pickle Lake, Ontario. The 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 PEAThis PEA is focused solely on mining of the Mineral Resources at the Thierry underground mine and provides a solid base case for moving the Project forward. The PEA indicates a 14-year mine plan based on a 4,000 tonne per day underground mining and processing operation. The mine plan assumes the potentially extractable tonnage of Measured, Indicated and Inferred Mineral Resources is diluted by 20% and a 90% mine recovery factor is applied. Measured and Indicated Mineral Resources represent 8,131,000 tonnes at 1.46% Cu, 0.18% Ni and 3.7 g/t Ag. Inferred Mineral Resources represent 11,507,000 tonnes at 1.46% Cu, 0.15% Ni and 6.1 g/t Ag. Palladium, platinum and gold do not make material contributions to metal revenues.Metal prices are based on long-term industry consensus with copper representing the primary contribution to revenues. US metal prices used in the PEA were $3.48/lb Cu, $8.00/lb Ni, $21.00/oz Ag, $1,250/oz Pd, $1,100/oz Pt and $1,600/oz Au. A USD exchange rate of 0.75 is applied.Life of mine (\"LOM\") processing recovers 880,000 tonnes of copper concentrate at 30% Cu. In addition, 157,000 tonnes of nickel concentrate at 8% Ni are recovered. This results in 567,000,000 lbs of payable Cu and 21,000,000 lbs of payable Ni. LOM revenues from net smelter returns are estimated at $2,579 million.LOM operating costs are $1,063 million. Mining costs are estimated at $38.64 per tonne, processing costs are $14.47 per tonne and G&A costs are $5.30 per tonne. C1 cash operating costs are $1.43/lb in CuEq and all-in sustaining costs (\"AISC\") are $1.98/lb in CuEq. LOM capital costs are estimated at $710 million and include pre-production capital costs of $407 million.LOM cash flow in terms of EBITDA is $1,516 million.Pre-tax Net Present Value (...