VANCOUVER, British Columbia, Feb. 06, 2020 (GLOBE NEWSWIRE) -- Westhaven Ventures Inc. (TSX-V:WHN) is pleased to report final drill results from its 2019 drill program 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.
Highlights of the most recent results include:
- Hole SN19-38 returned 5.00 metres (m) of 13.90 g/t gold (Au) and 105.55 g/t silver (Ag) in Vein Zone 1 at the ~1,100m elevation level.
- Hole SN19-37 returned 49.08 m of 1.45g/t Au and 6.25 g/t Ag, including 15.00 m of 3.26 g/t Au and 11.64 g/t Ag, and also including 3.58 m of 8.29 g/t Au and 30.31 g/t Ag in Vein Zone 1.
- Hole SN19-35 returned 3.00 m of 3.60 g/t Au and 2.38 g/t Ag and 2.47 m of 5.22 g/t Au and 13.95 g/t Ag in Vein Zone 2.
- Hole SN19-49 returned 151.70 m of 0.19 g/t Au and 1.20 g/t Ag in Vein Zone 2. Importantly, significant veining was encountered which leads management to believe the system continues to the northwest.
*Based on the geology of the vein zones with steep dips to the west, true widths are estimated to be about 80-90% of reported interval lengths. Please see the plan map below.
*Please see the full table of assay results from all 2019 drill holes here: https://www.westhavenventures.com/projects/shovelnose-gold/maps/
Gareth Thomas, President and CEO of Westhaven, stated: "The high-grade gold intercept in hole SN19-38 is the most significant intercept to date at the ~1100m elevation level in Vein Zone 1, since it expands the high-grade gold potential from a vertical perspective. At this time last year, we had identified roughly 300 metres of strike length; the 2019 drill results have increased that to 1,300 metres. We have built confidence in the continuity of this vein zone and subsequently have gone on to discover two additional high-grade gold veins (Vein Zones 2 and 3). The Company is well financed for the 2020 exploration program and a drill is currently at Shovelnose with several exploration targets ready to be tested commencing mid-February. Additional work is planned for this year across all four of Westhaven’s SBGB properties, including a drill program at the 100%-owned Skoonka prospect where 12.80 metres of 20.20 g/t Au was previously intersected. Every hole drilled in 2019 provided valuable information which we believe will help us discover additional zones of gold mineralization at Shovelnose as well as on the other three properties.”
Peter Fischl, Exploration Manager, stated: “Drilling late in 2019 continued to extend Vein Zone 1 to the southeast. The zone remains open along strike beyond hole SN19-45. Initial drilling in 2020 will follow-up to the southeast, stepping out from hole SN19-45. Target A lies proximal to the southeastern most drilled extent of Zone 1. Here an area of dark chalcedony veining and brecciation in rhyolite lies 0.5 kilometre to the east of the southeast end of the drilled extent of Zone 1 and will be targeted as well in this follow-up drilling. A re-evaluation of magnetics and resistivity geophysical signatures in combination with anomalous soil geochemistry has outlined a corridor extending south-southeast from Vein Zone 1 that may be prospective for additional veining and this will be targeted as well.”
Highlights for 2019:
- Drilled 49 holes for 21,889 metres
- Extended strike length of Vein Zone 1 to 1,300 metres
- Discovered high-grade gold in 3 vein zones
- Collected ~5,500 soil samples
- 7 new surface epithermal showings identified
- 195 prospecting rock grab samples collected
- 327-line kilometres of ground magnetic geophysics completed
- 30-line kilometres of DC Resistivity geophysical survey completed
Westhaven also herein provides a correction as to the aggregate number of units sold in its October 2019 financing. A total of 6,569,323 units were sold at $1.05 per unit for gross proceeds of $6,897,789.
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. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (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. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.
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
Figures accompanying this announcement are available at: