VANCOUVER, British Columbia, June 11, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) reports all remaining assays from its spring drilling campaign on its 15,542 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 kilometres south of Merritt, British Columbia. Westhaven completed 2,639 metres of diamond drilling in 7 holes.
|
|||||
2018 Spring Drill Program
Westhaven reports on the spring reconnaissance drilling program of the large gold bearing structure initially discovered by drilling in the fall of 2017 (see news release January 16th, 2018). Based on these results a follow-up program of drilling will commence shortly and will focus on the higher-grade areas outlined to date. There have now been seven holes completed in the South Zone, all of which have encountered the wide siliceous and auriferous structure. They are as follows:
| SOUTH ZONE DRILLING TO DATE | |||||
| Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
| SN17-06 | 141 | 226 | 85 | 0.52 | 1.4 |
| incl | 171 | 210 | 39 | 0.75 | 1.6 |
| incl | 193 | 210 | 17 | 1.02 | 2.5 |
| SN17-07 | 146 | 376.9 | 230.9 | 0.17 | 0.8 |
| incl | 222.2 | 247 | 24.8 | 0.81 | 1.8 |
| incl | 231.3 | 237 | 5.7 | 2.5 | 5.4 |
| SN18-03 | 178 | 206.7 | 28.7 | 2.62 | 4.78 |
| incl | 189 | 206.7 | 17.7 | 3.87 | 7.7 |
| incl | 190 | 192.9 | 2.9 | 9.72 | 16.77 |
| SN18-04 | 307.2 | 307.5 | 0.3 | 2.49 | 4.56 |
| SN18-05 | 130 | 134 | 4 | 1.01 | 0.97 |
| 159 | 159.5 | 0.5 | 2.62 | 23.6 | |
| 191 | 194.1 | 3.1 | 0.78 | 3.28 | |
| 252 | 257 | 5 | 0.72 | 2.66 | |
| 260 | 260.35 | 0.35 | 1.58 | 3.82 | |
| SN18-06 | 53 | 65 | 12 | 0.56 | 1.34 |
| 119 | 165.6 | 46.6 | 0.31 | 1.5 | |
| incl | 146 | 154 | 8 | 0.52 | 0.91 |
| incl | 164 | 165.6 | 1.6 | 1.37 | 5.45 |
| 260 | 266 | 6 | 0.73 | 3.21 | |
| incl | 262.4 | 263 | 0.62 | 3.69 | 15.85 |
| 272.3 | 304 | 31.7 | 0.41 | 0.91 | |
| incl | 297 | 300 | 3 | 1.25 | 1.95 |
| SN18-07 | 116 | 136 | 20 | 0.5 | 1.38 |
| incl | 133 | 136 | 3 | 0.9 | 9.13 |
| 145.6 | 148.27 | 2.67 | 1.19 | 5.16 | |
| 154 | 161 | 7 | 0.59 | 1.43 | |
| incl | 158 | 159 | 1 | 1.42 | 3.43 |
| 190 | 190.6 | 0.6 | 0.87 | 9.29 | |
* As previously reported, holes SN18-01 and SN18-02 were drilled in a separate area along strike 200m-400m to the south. Please see map below.
Gareth Thomas, President & CEO of Westhaven stated, “We are confident we are zeroing in on a key, economic-grade gold horizon. With a fully financed drill campaign slated to begin in the coming weeks, we are looking to follow-up on the success of hole SN18-03, which is open along strike to the north, south and up-dip to the east. This program intersected by far the most significant gold mineralization to date and we are very keen to get back there.” Thomas goes on to add, “It is imperative to highlight the location of the Shovelnose property and its proximity to the Coquihalla Highway, being less than a half-hour drive from Merritt and a two and half-hour drive from Vancouver. This allows for cost-efficient, year-round exploration.”
Upcoming Summer Drill Program
The next drill program is planned to begin in the last week of June and will consist of approximately 2,500 metres of diamond drilling. The focus of this campaign is to follow-up on Hole SN18-03, which remains open along strike to the north, south and up-dip to the east. The broader mineralized intervals encountered in the northernmost hole, SN18-06, will also be tested along strike to the north and up-dip to the east.
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 existing transportation 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”
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/3f58d272-224e-495e-8570-a0d02a0fb147