Braveheart Resources is moving forward with its plans to bring the Bull River Mine back into operation, as they look to extract copper, silver, and gold, while creating dozens of local jobs.
Acquiring Purcell Basin Minerals on January 18, 2019, Braveheart Resources then acquired the Bull River Mine, located about 35 kilometres from Cranbrook.
Mined between 1971 and 1974 by Placid Oil Company and formally referred to as the Dalton Mine, Braveheart Resources believes the mine is in great condition and is moving forward with permits to operate at the site.
"From our perspective, it's an advanced project that's in a good jurisdiction. A lot of work has been done on it previously and it's our intent to try and bring that mine back into production," said Ian Berzins, President and CEO of Braveheart Resources, a junior mining company based out of Calgary, AB. "The mine is essentially built and there's a large surface stockpile there that's available that would be a grade that is suitable for milling."
Berzins said the mine was privately owned from 1976 to 2010 where approximately $200 to $300 million of investment into drilling, roads, and infrastructure were made at the Bull River Mine, setting up the potential to return to mining operations.
However, in order to proceed, Braveheart Resources needs two permits from the B.C. Ministry of Energy, Mines and Petroleum Resources, one to increase mining capacity from 205 tonnes a day to 1,000 tonnes a day, and the other to get permission to store tailings either through dry stacking or underground with cemented backfill.
Berzins told Summit 107 that they believe there shouldn't be any major holdups with the permitting process, potentially anticipating approval in late 2019 at the earliest but most likely in early 2020.
If operational and permitted to proceed, the Bull River Mine would provide about 100 jobs in the region.
"The mine had about 80 to 100 people at it before," said Berzins. "We would envision kind of a slow ramp up where we would initially hire a milling staff to get the mill going and the process of surface stockpiles, after which we would go back underground."
Berzins said current estimates give the Bull River Mine a 6.5 to 7-year mining life, as approximately 85% of the ore body is copper, while the rest is about 9% gold and 6% silver.
Audio: Ian Berzins, President and CEO of Braveheart Resources (on permitting process)
Audio: Ian Berzins, President and CEO of Braveheart Resources (on the opportunity of the Bull River Mine)