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Westhaven Ventures Inc
Symbol WHN
Shares Issued 78,311,473
Close 2018-10-17 C$ 0.81
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Westhaven drills 17.77 m of 24.5 g/t Au at Shovelnose

2018-10-17 10:45 ET - News Release

Mr. Gareth Thomas reports


Westhaven Ventures Inc. has released 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, B.C.

Recent highlights include:

  • SN18-14 -- 17.77 metres of 24.50 grams per tonne gold and 107.92 grams per tonne silver, including 6.78 metres of 50.76 grams per tonne gold and 203.54 grams per tonne silver;
  • SN18-12 -- 175 metres of 0.65 gram per tonne gold and 2.08 grams per tonne silver, including 4.00 metres of 11.82 grams per tonne gold and 10.92 grams per tonne silver;
  • 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 and chief executive officer of Westhaven, stated: "We are pleased to report the widest high-grade drill intercept at Shovelnose, which consists of 17.77 metres of 24.50 grams per tonne gold and 107.92 grams per tonne silver, including 6.78 metres of 50.76 grams per tonne gold and 203.54 grams per tonne silver (hole SN18-14). It is important to highlight that hole SN18-14 is 300 metres to the southeast of hole SN18-12 (previously announced Oct. 2, 2018) which contains 1.65 metres of 175.00 grams per tonne gold and 249.55 grams per tonne silver, including 0.65 metre of 285.00 grams per tonne gold and 255.00 grams per tonne silver. 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        To      Interval        Au        Ag 
                   (m)       (m)           (m)     (g/t)     (g/t)

SN18-10        100.00    111.74         11.74      1.29      7.50
               225.00    225.50          0.50      5.62     34.50
               241.45    242.00          0.55      4.84      9.64
               313.75    314.15          0.40      5.69     33.70
SN18-11        402.00    403.00          1.00      2.00      7.30
               433.00    433.85          0.85      5.20     10.50
SN18-12        123.80    125.35          1.55      0.60      1.60
               125.35    125.00          1.65    175.00    249.55
Including      125.35    126.00          0.65    285.00    255.00
Including      126.00    127.00          1.00    103.50    246.00
               127.00    302.00        175.00      0.65      2.08
Including      284.00    288.00          4.00     11.82     10.92
SN18-14        210.23    228.00         17.77     24.50    107.92
Including      218.00    224.78          6.78     50.76    203.54
SN18-15        Assays pending                            
SN18-16        Assays pending                            
SN18-17        Assays pending 

Note: 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 per cent to 90 per cent of 
reported interval lengths.

Peter Fischl, exploration manager, went 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 700-metre-long strike length now appears to be strongest along a horizon centred at about 1,200-metre 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 grams per tonne gold, including 6.78 metres of 50.76 grams per tonne gold.

The Spences Bridge gold belt

Westhaven owns a 100-per-cent interest in four properties covering over 35,000 hectares within the prospective Spences Bridge gold belt, 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 Spences Bridge gold belt 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 per cent of the Spences Bridge gold belt (225,000 hectares). Any ground staked by Sable within five kilometres of Westhaven's existing projects will be subject to a 2.5-per-cent net smelter return royalty. In addition, Westhaven has a 30-day right of first refusal for a three-year period for any properties within this five-kilometre radius.

Qualified person statement

Peter Fischl, PGeo, who is a qualified person within the context of National Instrument 43-101, has read and takes responsibility for this release.

Quality assurance/quality control

Core samples were prepared using the PREP-31 package in ALS's Kamloops facility each core sample is crushed to better than 70 per cent passing a two-millimetre (Tyler 9 mesh, U.S. Std. No. 10) screen. A split of 250 grams is taken and pulverized to better than 85 per cent passing a 75-micron (Tyler 200 mesh, U.S. Std. No. 200) screen. Of this pulverized split, 0.5 gram is digested in aqua regia and analyzed by ICP-MS and ICP-AES (method code ME-MS41L), which reports a 53-element suite of elements. All results greater than 100 parts per billion gold were reanalyzed by ALS using fire assay with an AAS finish, method code Au-AA23 (30-gram sample size). Additional gold screening is performed using ALS's Au-SCR24 method; select samples are dry screened to 100 microns. A duplicate 50-gram fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total gold content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS's North Vancouver facility. A quality assurance/quality control program included laboratory and field standards inserted every 25 samples.

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