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Westhaven Ventures Inc
Symbol C : WHN
Shares Issued 88,654,475
Close 2019-03-15 C$ 0.93
Recent Sedar Documents

Westhaven drills 12.66 m of 39.31 g/t Au at Shovelnose

2019-03-18 11:41 ET - News Release

Mr. Gareth Thomas reports

WESTHAVEN DRILLS 12.66 METRES OF 39.31 G/T GOLD AND 133.11 G/T SILVER AT SHOVELNOSE

Westhaven Ventures Inc. has released drill results from its continuing 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.

Highlights:

  • SN19-01:
    • 12.66 metres (154.34 metres to 167 metres) of 39.31 grams per tonne gold and 133.11 grams per tonne silver;
    • Three metres (89 metres to 92 metres) of 4.65 grams per tonne Au and 10.86 grams per tonne Ag;
    • 59.14 metres (95.2 metres to 154.34 metres) of 0.43 gram per tonne Au and 2.79 grams per tonne Ag;
    • 10 metres (167 metres to 177 metres) of 2.26 grams per tonne Au and 15.13 grams per tonne Ag;
  • SN19-02 (assays pending):
    • Intercept of rhyolite breccia with sections of banded quartz, ginguro, pyrite and visible gold in veins (approximately 137 metres to 177 metres);
  • The program is continuing and currently drilling SN19-03, which is a stepout located approximately 70 metres to the northeast of SN18-18, targeting the second vein zone, as previously reported.

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. For a table of assays from SN19-01, please visit the company's website.

Gareth Thomas, president and chief executive officer of Westhaven, commented: "SN19-01 contains the highest gram-metres (497.66 g-m) intercept to date on Shovelnose. It was drilled at 50-metre strike spacing between hole SN18-14 (435.36 g-m) and hole SN 18-15 (413.49 g-m). South zone drilling continues to define the extent and demonstrate the continuity of this gold-mineralized vein system. Drill intercepts of this grade and thickness strengthen management's belief that we're dealing with a large, high-grade gold system. The drill program is continuing and all additional assays will be released regularly as the program progresses."

Peter Fischl, PGeo, exploration manager, commented: "Hole SN19-01 successfully tested the continuity of higher-grade gold mineralization hosted in quartz-adularia veins first drilled last year at Shovelnose in the South zone. In addition, lower-grade gold mineralization has been identified in the hangingwall (0.61 gram per tonne Au and 3.07 grams per tonne Ag over 65.34 metres) and footwall (2.26 grams per tonne Au and 15.14 grams per tonne Ag over 10 metres) to zone 1 veining. This broader envelope of gold mineralization is hosted in the silica-pyrite-healed rhyolite breccia unit, which predates the quartz-adularia veins, and is now considered a secondary target of interest at Shovelnose."

Qualified person statement

Mr. Fischl, 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.

Shovelnose gold property overview

There is strong evidence for a significant mineralized vein system within the property, where veins exposed by trenching grading 66 grams per tonne Au, float samples grading up to 119 grams per tonne Au and 273 grams per tonne Ag, and wide, low-grade alteration zones typical of epithermal gold deposits have been located. Recent drilling intersected 17.77 metres of 24.5 grams per tonne Au, including 6.78 metres of 50.76 grams per tonne Au.

The Spences Bridge gold belt (SBGB)

Westhaven owns a 100-per-cent-interest in four properties covering over 35,000 hectares within the prospective SBGB, which is situated within a geological setting like those that 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 per cent of the SBGB (225,000 hectares). Any ground staked by Sable within five kilometres of Westhaven's existing projects is subject to a 2.5-per-cent net smelter return royalty. In addition, Westhaven has a 30-day right of first refusal (ROFR) on any properties outside this five-kilometre radius.

About Westhaven Ventures Inc.

Westhaven Ventures 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.

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