VANCOUVER, British Columbia, June 01, 2020 (GLOBE NEWSWIRE) -- Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce it has added a second drill rig at its 17,623 hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.
2020 Drill Program
- The 2nd drill rig is set up at the Line 6 target ~2.5 kilometers west of the South Zone discovery area as the focus of this program is to test new drill targets. The other drill rig is expanding on the recently encountered high-grade gold in the Lear Zone as previously announced on May, 19th, 2020.
- The ongoing 30,000 metre (m) drill program has resumed along with the commencement of a Controlled Source Audio-frequency Magneto-Tellurics (CSAMT) survey. The survey will cover a 3 x 5-kilometre area proximal to the South Zone to refine the higher priority targets and generate new targets.
Gareth Thomas, President & CEO of Westhaven stated: “The Shovelnose gold property has over 11 regional exploration targets defined outside of the South Zone high-grade discovery area. The recently discovered high-grade gold in a new area (Lear Zone) is also a current area of focus for expansion drilling. The recently announced bought deal financing allows the Company to not only expand drilling at the Lear Zone but also have flexibility to further explore and drill test the additional regional targets and generate new targets with the recently announced CSAMT survey currently underway.”
The Line 6 showing is characterized by a prominent multi-element soil geochemical anomaly (Au, Ag, Cu, As, Ba, Zn, Mn, Mo) with a strong potassic high radiometric signature, proximal to a magnetic low. Historic trenching and drilling returned elevated gold and silver values, including 2m of 16.95 g/t Au in trench L608-XT-01. The previous drilling of three short holes up to 95m in length has not adequately tested this showing. Three additional holes totalling 1500m will be drilled to further test this showing.
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.
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 or accuracy of this release.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Gareth Thomas, President, CEO & Director
Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low cost exploration. Westhaven is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavenventures.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/4621a8ef-d42b-49e5-9918-c6b60455d27b