Tuesday morning Westhaven Ventures (TSX-V:WHN, OTC:WTHVF) reported initial assays from its phase 2 drill program at its Shovelnose Project in Southern BC. This phase 2 program consisted of 10 holes totaling 3,721 meters of diamond drilling. WHN reported on 3 of the 10 holes which included partial assays from hole SN18-12 which delivered the highest grade intercept on a grams – meters basis (288.75 g-ms gold) ever seen in the Spences Bridge Gold Belt (1.65m of 175 g/t gold and 249 g/t silver).
Westhaven has encountered visible gold (VG) in 5 different drill holes, including in six separate areas over 12.5 meters in hole SN18-14 (which has been sent off for rush assays along with hole SN18-15):
Core box for hole SN18-14 with VG marked with yellow pen.
Close up of VG in hole SN18-14 core.
Hole SN18-14 is 300 meters to the southeast of hole SN18-12 which delivered the bonanza grades in the partial assays reported Tuesday morning. Moreover hole SN18-15 is another 100 meters southeast of hole SN18-14 which means that visible gold has been found more than 400 meters to the southeast of holes SN18-03 (from phase 1 Spring 2018 program) and SN18-12, holes which we know to carry significant gold grades:
This ‘South Zone’ at Shovelnose was discovered in December 2017 and Westhaven has since extended the known strike length of this gold mineralized vein system to 700 meters including multiple occurrences of visible gold and bonanza grade gold intersections.
Gareth Thomas, President & CEO of Westhaven stated, “With each successive drill program, we improve significantly on targeting higher-grade gold mineralization. We continue to expand the known strike of the mineralized vein system. Given the improving gold grades and the increasing strike length, we believe Shovelnose has the potential to host an economic gold deposit. For the first time since we began drilling in 2011, we have encountered visible gold in drill core. We have observed visible gold in holes SN18-08, SN18-10, SN18-12, SN18-14 and SN18-15. We are fully financed for a follow-up drill program scheduled to commence at the end of October.”
Westhaven expects to have all outstanding assays (7 of 10 holes have not been reported yet included 3 holes that contain visible gold SN18-10, 18-14, and 18-15) from the phase 2 exploration program at Shovelnose within 4-6 weeks. After which the company will put together plans and targets for its next exploration program at Shovelnose. Westhaven is not weather constrained at Shovelnose and drilling can occur year round at this Southern BC gold exploration project which has excellent all weather road access. Westhaven also received C$1.1 million from warrant exercises in the last month which means the company is fully financed through the next follow-up program at Shovelnose.
It’s still very early days for Westhaven Ventures and its Shovelnose Gold Project. As reports continue to get better with each exploration program it’s clear that Westhaven is honing in on an extensive gold mineralized system in one of the best locations to find an economic gold resource on the planet. Exciting times and it feels great to be a Westhaven shareholder today.
Westhaven shares continue in a strong uptrend despite yesterday’s “sell the news” reaction which has become standard fare in the junior mining sector this year – strong support near C$.20-$.21 with resistance C$.29-$.31.
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