Westhaven Drills 46.20 Metres of 8.95 g/t Gold and 65.47 g/t Silver at Shovelnose
VANCOUVER, British Columbia, Oct. 31, 2018 (GLOBE NEWSWIRE) -- Westhaven Ventures Inc. (TSX-V:WHN) is pleased to report further drill results from its recently completed drill campaign 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.
Highlights:
- Drill hole SN18-15 returned 46.20 metres (m) of 8.95 g/t gold (Au) and 65.47 g/t silver (Ag), including 5.00m of 14.70 g/t Au and 215.00 g/t Ag.
- SN18-15 is 100 metres southeast of hole SN18-14 which returned 17.77 m’s of 24.50 g/t Au and 107.92 g/t Ag.
- The strike length of the South Zone is 700 metres and is open to the east and southeast.
- Fully financed drill program to commence in early November.
| DRILL HOLE SN18-15 |
| Hole | From (m) | To (m) | Interval (m) | Au (g/t) | Ag (g/t) |
| SN18-15 | 139.00 | 143.00 | 4.00 | 3.37 | 2.89 |
| | 179.00 | 188.00 | 9.00 | 1.01 | 7.14 |
| | 189.80 | 236.00 | 46.20 | 8.95 | 65.47 |
| incl | 196.00 | 201.00 | 5.00 | 14.70 | 215.00 |
| | 204.00 | 209.90 | 5.90 | 12.57 | 90.88 |
| | 214.00 | 218.33 | 4.33 | 12.58 | 113.41 |
| | 222.00 | 225.00 | 3.00 | 20.35 | 37.50 |
| | 234.50 | 236.00 | 1.50 | 48.04 | 55.02 |
Drilling to date is limited so true widths cannot be definitively determined. However, based on the strike of the vein zone with a steep dip to the west, true widths are estimated to be about 80-90% of reported interval lengths.
Gareth Thomas, President & CEO of Westhaven stated, “Drilling at the South Zone continues to intercept broad, high-grade gold intervals. Drill hole SN18-15 was drilled 100 metres to the southeast of hole SN18-14 and 360 metres to the southeast of SN18-12. It provides additional evidence to support management's belief that we are dealing with a sizable gold system. We are preparing to initiate a fully financed follow-up drill program to begin in early November. The Shovelnose gold property benefits from its proximity to infrastructure and can be worked year-round.” Peter Fischl, P.Geo., Exploration Manager, states, “Hole SN18-15 indicates that the mineralized horizon, centered at about 1200m elevation, continues southeast into a stronger dilational environment, resulting in broader mineralized veins. Follow-up drilling will continue stepping out to the southeast to test this trend of widening veins.”
Shovelnose Gold Property Overview
There is evidence of a significant mineralized alteration system within the property. 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: https://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 5-kilometre of Westhaven's existing projects 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 for any properties for any properties outside of the 5km area of interest.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
"Gareth Thomas"
Gareth Thomas, President, CEO & Director