VANCOUVER, British Columbia, Oct. 17, 2018 (GLOBE NEWSWIRE) -- Westhaven Ventures Inc. (TSX-V:WHN) is pleased to report further results from its recently completed drill campaign 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.
Recent Highlights Include:
- SN18-14: 17.77 metres (m) of 24.50 g/t gold (Au) and 107.92 g/t silver (Ag), including 6.78m of 50.76 g/t Au and 203.54 g/t Ag.
- SN18-12: 175.00m of 0.65 g/t Au and 2.08 g/t Ag, including 4.00m of 11.82 g/t Au and 10.92 g/t Ag.
- 20-metre quartz vein encountered in hole SN18-15, assays pending.
- The strike length of the South Zone is 700 metres and open to southeast.
Gareth Thomas, President & CEO of Westhaven stated, “We are pleased to report the widest high-grade drill intercept at Shovelnose, which consists of 17.77m of 24.50 g/t Au and 107.92 g/t Ag, including 6.78m of 50.76 g/t Au and 203.54 g/t Ag (hole SN18-14). It is important to highlight that hole SN18-14 is 300 metres to the southeast of hole SN18-12, (previously announced October 2, 2018) which contains 1.65m of 175.00 g/t Au and 249.55 g/t Ag, including 0.65m of 285.00 g/t Au and 255.00 g/t Ag. Assays pending include hole SN18-15 which is 100 metres to the southeast of hole SN18-14 and contains visible gold. We are initiating a fully financed, follow-up drill campaign to begin in early November as we look to advance this important new discovery."
|SOUTH ZONE DRILLING|
|Hole||From (m)||To (m)||Interval (m)||Au (g/t)||Ag (g/t)|
Drilling to date is limited so true widths cannot be definitively determined. However, based on the geology of the vein zone with a steep dip to the west, true widths are estimated to be about 80-90% of reported interval lengths.
Peter Fischl, Exploration Manager goes on to add, “Drilling continues to define a horizon of stronger gold mineralization. This hole targeted the shallower portions of the vein system above deeper weakly mineralized vein intersections in holes SN18-09 and SN18-11. Mineralization over the 700m long strike length now appears to be strongest along a horizon centred at about 1200m elevation. Follow-up drilling will test the vertical range and strike length of this horizon.”
Shovelnose Gold Property Overview
There is evidence of a significant mineralized alteration system within the property. Recent drilling intersected 17.77 metres of 24.50 g/t Au, including 6.78 metres of 50.76 g/t Au. For further information on the Shovelnose Gold Property, please visit: http://westhavenventures.com/projects/shovelnose-gold/details/
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-kilometre of Westhaven's existing projects will be subject to a 2.5% NSR. In addition, Westhaven has a 30 day Right of First Refusal (ROFR) for a three-year period for any properties within 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.
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75 micron (Tyler 200 mesh, US Std. No. 200) screen. 0.5g of this pulverized split is digested in aqua regia and analyzed via ICP-MS and ICP-AES (method code ME-MS41L), which reports a 53-element suite of elements. All results greater than 100 ppb gold were reanalyzed by ALS using their Fire Assay with an AAS finish, method code Au-AA23 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 micron. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples.
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 map accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/c98c7c13-430d-412a-bca0-4808945ee065