VANCOUVER, British Columbia, July 10, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to report that a summer drilling campaign has commenced at its 15,542 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 kilometres south of Merritt, British Columbia.
2018 Summer Drill Program
This fully-financed drill program will consist of approximately 2,500 metres of diamond drilling on 8 drill sections spaced over a strike length of 500 metres at the recently discovered South Zone. The South Zone discovery was the result of drill testing a northeast trending linear magnetic low anomaly in late 2017. This structure, as defined by ground-based magnetics, is in excess of 1.6 kilometres in strike length. In May 2018, Westhaven completed 2,639 metres of diamond drilling in 7 holes in the South Zone. This program successfully increased the strike length of the known gold mineralization and resulted in the most significant drill intersection to date at Shovelnose. Hole SN18-03, which was reported in a news release dated May 7, 2018, intersected 17.7m of 3.9 g/t Gold (Au), including 2.9m of 9.7 g/t Au. All other holes that have successfully targeted this structure have encountered broad intercepts containing gold-bearing quartz veins. The focus of the current program is to expand on this recently encountered higher grade gold encountered in the South Zone. Please see the drill plan map below.
Gareth Thomas, President & CEO of Westhaven stated, “Our goal is to expand on the newly discovered gold mineralization. Given the strike length of this structure and demonstrated ability to host higher grade gold, the company believes the South Zone has the potential to host a significant gold deposit. The information gathered from the most recent drill program has assisted greatly in generating the targets that are now being drilled.”
Shovelnose Gold Property Overview
There is evidence of a significant mineralized alteration system within the property where float samples grading 119 g/t Au (Gold) and 273 g/t Ag (Silver), veins exposed by trenching grading 66 g/t Au, and wide low-grade alteration zones typical of epithermal gold deposits have been discovered. Recent drilling intersected 17.7 metres of 3.9 g/t Au and 2.9 metres of 9.7 g/t Au. For further information on the Shovelnose Gold Property, please visit: http://westhavenventures.com/projects/shovelnose-gold/details/
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100%-interest in over 35,000 hectares within the prospective SBGB, 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 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 mineralization.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Gareth Thomas, President, CEO & 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, Skoonka and Skoonka North 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.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/e16a2663-5f80-4e4f-af80-2915d07c83b9