Gold price faces worst week since 2021 as Fed signals no rate-cut rush
Bullion has fallen six days in a row and is set for a weekly loss of more than 4%.
Braveheart Resources (TSXV: BHT) received an amendment to its Mines Act Permit M-33 from British Columbia’s Ministry of Energy, Mines and Petroleum Resources. The amendment allows for exploration drilling and groundwater drilling at a permitted mine area of approximately 116 hectares at its Bull River property.
In a press release, the Calgary-based miner said that Bull River is currently on care and maintenance so restarting operations including mining, milling and disposal of tailings and waste rock is not permitted at this time.
However, Braveheart’s focus this year is set on relaunching the mine, which is located near Cranbrook, British Columbia and hosts copper, gold, silver and cobalt mineralization.
At present, the company is working on a tailings storage facility and it plans to complete a condemnation drilling program to ensure that the proposed location of the TSF is not underlain by economic mineralization.
“The groundwater drilling program will include the installation of water wells and monitoring of the wells. This information will supplement the surface water monitoring programs already in place at the mine property,” the media statement reads. “Results from the two drilling programs are critical components in support of the company’s continuing application to restart the operation through the Major Mines Office.”
