VANCOUVER, British Columbia, Dec. 20, 2017 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that it has completed drilling on its 18,768 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 kilometres south of Merritt, British Columbia. The drill program consisted of 7 holes totaling 3,269 metres of diamond drilling.
Drill Holes SN17-01 through to SN17-05 were collared in the Tower Zone, a 1.3-km long north-northwest trending zone outlined by soil geochemistry and ground magnetics. Much of the previous drilling had targeted a shallow silicified tuff horizon with anomalous gold and pathfinder elements that represents the upper portions of the hydrothermal system at Tower. The current program focused on the lower levels of the Tower Zone which are prospective to host higher grade gold feeder zones. Quartz-adularia veining and brecciation encountered in previous drilling at the Tower Zone was extended down-dip and along strike by 200 metres to the northwest.
Drill Holes SN17-06 and SN17-07 were collared in the southern portion of the Alpine Zone, 0.5 km to the east of the Tower Zone. Ground geophysics, done earlier in 2017, better defined northeast trending magnetic lows that may represent structures providing more control on mineralization. The Alpine Zone occurs as an 800-metre long by 600-metre wide Induced Polarization (IP) chargeability anomaly identified in 2015. Drill hole SN16-02, from the spring 2016 drill program intersected quartz veining and silicification in rhyolitic tuffs from bedrock surface to 142 metres depth grading 0.27 g/t gold (Au) over 119.6 metres including: 0.5 metres of 16.7 g/t Au and 29.9 g/t silver (Ag); and 0.6 m of 4.95 g/t Au and 43.7 g/t Ag.
A zone of variably sulphidic quartz veining was encountered in holes SN17-06 and SN17-07. These two holes, spaced 100 metres apart, were drilled perpendicular to a pair of closely spaced northeast trending magnetic lows that may represent structures controlling the veining here. Metre-scale quartz veins encountered in SN17-06 remain open to the southwest. Please see the map below or visit our website for more information: http://westhavenventures.com/projects/shovelnose-gold/details/
Shaun Pollard, Director & CFO of Westhaven stated, “All drill holes intersected silicification and quartz veining. In addition, drill hole SN17-06 intersected multiple metre-scale veins that included dark sulphidic, ginguro bands. Given the good accessibility of the Shovelnose property, Westhaven may look to initiate a follow-up drill program early in 2018.”
All drill core has been submitted to ALS Laboratories for analyses.
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.
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100%-interest in over 32,000 hectares within the prospective SBGB, which is situated within a geological setting similar to 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, 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 and Skoonka 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.
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