VANCOUVER, British Columbia, March 28, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that drilling has started at its 18,768 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB). The property borders the Coquihalla Highway and is only 35 kilometres from the city of the Merritt, allowing for low cost year-round exploration
This drill program will consist of approximately 2,000 metres of diamond drilling and will follow-up on the newly discovered gold-bearing vein system, the South Zone. This mineralized system was first outlined by ground magnetics in 2017 as a northeast trending linear magnetic (mag) low anomaly and subsequently confirmed by two drill holes where drilling intersected 85 metres of 0.52 g/t gold and 5.7 metres of 2.5 g/t gold. A recently completed ground magnetic survey has increased the total strike length of this gold mineralized structure to 1,500 metres, to the northeast and southwest of the Alpine Zone. Please see map below.
Shaun Pollard, CFO and Director of Westhaven stated, “The newly discovered South Zone is the most significant discovery made to date at Shovelnose and it marks an important milestone in understanding the property geology. These newly identified gold mineralized structures in the South Zone are likely the feeder zones responsible for the gold mineralization found near surface in the Alpine Zone and the quartz vein system remains open along strike to the northeast and southwest. Westhaven is excited to start drilling these structures with the hopes of hitting economic widths of high grade gold mineralization.”
Newly Discovered South Zone
- New quartz vein system, the South Zone, first outlined by ground magnetics as a northeast trending mag low anomaly, has been confirmed by two of the drill holes during last fall’s program (December 2017).
- That drilling encountered broad zones of quartz veining to 300m wide containing intermittent gold mineralization.
- Drill hole SN17-06, the southwestern most of the two holes, intersected 85 metres (m) of 0.52 grams per ton (g/t) gold (Au), including 8m of 1.43 g/t Au and 17m of 1.02 g/t Au.
- Drill hole SN17-07 intersected 231m of 0.17 g/t Au, including 24.8m grading 0.8 g/t Au which in turn includes 5.7m grading 2.5 g/t Au and 4m grading 3.23g/t Au.
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100% interest in over 30,000 hectares within the prospective SBGB, which is situated within a geological setting similar to those which host other significant epithermal systems. It is close to existing major transportation routes and other 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. Westhaven has been working on the SBGB since 2011 and believes these relatively underexplored volcanic rocks are highly prospective for epithermal style gold and silver mineralization.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Gareth Thomas, Director
About Westhaven Ventures Inc.
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 and Skoonka 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.
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.