VANCOUVER, British Columbia, Aug. 28, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to provide an exploration update on the ongoing drill campaign 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.
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Summer Drilling Update: Phase 1
Westhaven has completed 1,826 metres of diamond drilling in 4 holes in phase 1 of its summer drill program. All pending assays from holes SN18-08 to SN18-11 will be reported once received. After a 10-day break, drilling will recommence later this week focusing on the up-dip portions of the vein system east and southeast of hole SN18-03. Please see the map of the summer phase 1 drilling below.
Four holes completed this summer (SN18-08 to 11) tested the northern and southern continuation of mineralized veining encountered in hole SN18-03. All four holes have encountered multiple quartz veins. This drilling has now extended the overall strike of the South Zone vein system to 370 metres and the zone remains open along strike to the north and south. It has now been determined that holes SN18-01 and 02 failed to intersect the southward continuation of the zone due to an apparent change in strike of the veining. Vein intersections in holes 18-08, 09 and 11 indicate an abrupt change of strike to the southeast, well east of holes SN18-01 and 02. This change of strike to the southeast resulted in the vein zone being intersected much deeper than the gold-bearing intersection in hole SN18-03. Follow-up drilling will therefore include testing the up-dip portions of the vein system east and southeast of hole SN18-03.
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.
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”
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/4a8fdf26-8be0-48b0-ae9d-fef0e01d9d59