VANCOUVER, British Columbia, Dec. 19, 2018 (GLOBE NEWSWIRE) -- Westhaven Ventures Inc. (TSX-V:WHN) is pleased to provide an update on its recently completed drill program at its 15,542 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway, 30 kilometres south of Merritt, British Columbia.
Fall Drill Program
Westhaven has completed another 2,183 metres (m) of diamond drilling in 5 holes. Due to a scheduled holiday break, pending assays will be released in early 2019 when received.
Drilling Highlights Include:
- Epithermal vein mineralization has been intersected in all drill holes.
- Multiple occurrences of visible gold have been encountered in holes SN18-18 and SN18-21.
- Ginguro banding has been encountered in holes SN18-18, SN18-20, SN18-21 and SN18-22.
- A separate vein zone has been intersected in holes SN18-18, SN18-20, SN18-21 and SN18-22, that is situated approximately 150m-200m down section from the vein zone encountered in holes SN18-14 and SN18-15.
Hole SN18-18 intersected the projected up-dip extension by 97m of the mineralization encountered in hole SN18-14 (Zone 1 – Main Zone). SN18-18 is collared 102m northeast from SN18-14 which returned 17.77m of 24.50 g/t gold (Au) and 107.92 g/t silver (Ag). Hole SN18-18 also first identified a second zone of colloform-crustiform banded quartz veins with visible gold (Zone 2 – Footwall Zone), occurring 150m down-section from Zone 1. SN18-19 collared 100m southeast of SN18-15 did encounter veining despite significant cross-faulting and displacement of the main vein zone. Follow-up work is underway, including interpretation of the ground and airborne magnetic surveys to help understand this fault system.
SN18-20 intersected the projected down-dip extension by 140m of Zone 1 mineralization encountered in hole SN18-15. SN18-20 is collared 100m southwest from SN18-15 which returned 46.20m of 8.95 g/t Au and 65.47 g/t Ag. A second zone of banded quartz veining was encountered in SN18-20, 100m down-section of Zone 1, and likely represents Zone 2. SN18-21 intersected the projected down-dip extension by 50m of the Zone 1 mineralization encountered in hole SN18-14 and is located 38m to the southwest. Hole SN18-21 also encountered the projected down-dip extension by 170m of Zone 2 veining intersected in SN18-18. SN18-22 is collared 100m to the northwest of SN18-14 and it encountered the northwestward continuation of vein zones 1 and 2. Please see a plan map of the drilling program below.
Gareth Thomas, President & CEO of Westhaven stated, “This newly discovered second vein zone has the potential to significantly increase the size and scale of the South Zone gold discovery. We are planning to initiate a fully financed drill program in early 2019, not only to follow-up on recent drilling success in the South Zone but to drill test targets generated from recently completed magnetic surveys (geophysics initiatives).”
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100%-interest in 4 properties covering over 35,000 hectares within the prospective SBGB, which is situated within a geological setting like those which host other significant epithermal gold-silver systems. It is close to major transportation routes and infrastructure allowing for cost-effective exploration. The SBGB is a 110-kilometre northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge Group. Sable Resources and Westhaven have a combined control of 86% of the SBGB (225,000ha). Any ground staked by Sable within 5 kilometres of Westhaven's existing projects is subject to a 2.5% NSR. In addition, Westhaven has a 30-day Right of First Refusal (ROFR) on any properties outside this 5-kilometre radius.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Gareth Thomas, President, CEO & Director
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose, Prospect Valley, Skoonka and Skoonka North gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavenventures.com
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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/908f8634-8b42-4468-948d-201195de3bfe