09:21:03 EDT Tue 28 Jun 2022
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Goldhaven Resources Corp
Symbol GOH
Shares Issued 69,681,131
Close 2022-06-22 C$ 0.065
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Goldhaven begins 2nd exploration program at Pat's Pond

2022-06-23 12:38 ET - News Release

Mr. Justin Canivet reports


Goldhaven Resources Corp. has provided an update on the continuing exploration activities on Pat's Pond in the central Newfoundland gold belt (CNGB).

"We have received our exploration permits for Pat's Pond and are thrilled to have begun our second exploration campaign on the property," said Goldhaven chief executive officer Justin Canivet. "Given the close proximity of Pat's Pond to Marathon Gold's Valentine Lake project, the province's most advanced project, we feel we hold some of the most highly prospective ground in the CNGB, and we very much look forward to interpreting the results from this second exploration campaign."

The 9,700-hectare Pat's Pond property is located less than 20 kilometres from Marathon Gold's 3.14-million-ounce (56.7 million tonnes at 1.72 grams per tonne Au) Valentine gold project and on trend with the Boomerang/Domino VMS (volcanogenic massive sulphide deposit (four kilometres to the northeast). The property is road-accessible and is highly prospective for precious-metal-rich volcanogenic massive sulphide mineralization and mesothermal gold.

Airborne magnetic/VLF-EM survey at Pat's Pond

Goldhaven is working with Terraquest Ltd., an airborne geophysical survey provider based in Markham, Ont., to conduct an airborne magnetic/VLF-EM (very low-frequency electromagnetic) survey at 100-metre line spacing.

As of June 6, 2022, the aircrew flew over three hours, acquiring 249.7 line km of data. To date Terraquest has acquired 432 km out of planned 1,357.2 km for a total of 31.8 per cent of the survey block. Terraquest expects to finish the survey by the end of this month.

When the airborne geophysics are complete, a geological/prospecting crew will be on site and will focus on collecting additional surface rock geochemical samples and enhancing the surface lithological and structural map which will contribute to continuing ranking and prioritization of targets on the property. Ground-based induced polarization geophysical surveys and a potential drill campaign will be completed on the highest-priority areas, likely in Q4 of 2022. Soil geochemistry will be used on the highest-priority targets to assist with drill hole placement.

Promising historical data from Pat's Pond

Historical assays have returned values as high as 19.16 g/t Au, 914 g/t silver, 8.7 per cent zinc, 6.1 per cent lead, 2.13 per cent antimony and 0.92 per cent copper.

In October, 2021, Goldhaven's exploration team collected 41 samples on Pat's Pond and returned highs of 605 g/t Ag, 5.5 g/t Au, 9.7 per cent Pb, 5.05 per cent Zn and 0.69 per cent Cu, with one sample returning an antimony value of the 3.22 per cent Sb (see March 17 press release for full details). Numerous encouraging values were reported from the southeast of the property which were consistently anomalous in silver, zinc, lead, and, to a lesser extent, gold and copper.

Qualified person

Daniel MacNeil, PGeo, a qualified person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release. Mr. MacNeil is technical adviser to Goldhaven Resources.

About Goldhaven Resources Corp.

Goldhaven Resources is a Canadian junior precious metals exploration company focused on acquiring and exploring highly prospective land packages in both Canada and Chile. Goldhaven maintains a strategic presence in the gold- and silver-rich Maricunga gold belt of northern Chile which is host to several mining and advanced exploration projects, including Salares Norte (Gold Fields), Esperanza (Kingsgate Consolidated), La Coipa (Kinross), Cerro Maricunga (Fenix Gold), Lobo Marte (Kinross), Volcan (Volcan), Refugio (Kinross/Bema), Caspiche (Goldcorp/Barrick) and Cerro Casale (Goldcorp/Barrick). The company has identified a total of 12 high-priority targets at its Alicia and Roma project areas in the Maricunga within a prominent regional northwest-southeast structural trend along strike from Gold Fields' Salares Norte deposit (5.2 million ounces of gold). These targets have been designated high priority due to the extent, pervasive alteration, favourable geology, highly anomalous rock geochemical results and their relative proximity to existing deposits. Goldhaven is also making exploration progress at its Smoke Mountain property (Canada) which is strategically located in the central British Columbia porphyry-epithermal belt in close proximity to Surge Copper's Berg project, as well as its Pat's Pond project in Newfoundland's central Newfoundland gold belt (Canada). Pat's Pond is strategically located less than 20 km from Marathon Gold's 3.14 million oz Valentine gold project and on strike from the Boomerang/Domino VMS deposit. Pat's Pond is highly prospective for gold, copper, silver and zinc, and has large-scale discovery potential.

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