ANCOUVER, British Columbia, Nov. 07, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to report that drilling has resumed 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, British Columbia.
2018 Fall Drill Program
This fully-financed drill program will consist of approximately 2,500 metres of diamond drilling over a strike length of 400 metres at the recently discovered South Zone. Recent drilling here intersected 17.77 metres of 24.50 g/t Au, including 6.78 metres of 50.76 g/t Au. The focus of the current program is to expand on this recently encountered higher grade gold in the South Zone. Please see the plan map of proposed drilling below.
Gareth Thomas, President & CEO of Westhaven stated, “We are keen to get back drilling at the South Zone. Only two holes have been drilled into the newly tested southern block and both holes intersected significant gold-silver mineralization. We will be testing both the vertical extent and the strike length of this mineralization.” Peter Fischl, P.Geo., Exploration Manager, adds “This follow-up program will look to extend the strike of the South Zone vein system to the southeast by 200 metres. Planned upper and lower cuts to holes SN18-14 and 15 will test the vein zone over a vertical range of 200 metres as well.”
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 17.77 metres of 24.50 g/t Au, including 6.78 metres of 50.76 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 4 properties covering 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. Sable Resources and Westhaven have a combined control of 86% of the SBGB (225,000ha). Any ground staked by Sable within a 5-kilometre perimeter of Westhaven’s existing property boundaries will be subject to a 2.5% NSR. In addition, Westhaven has a 30-day Right of First Refusal (ROFR) for a three-year period on any properties outside of the 5-km area of interest.
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/438e1aac-3857-42bc-833c-5ec97c2a0adc