VANCOUVER, British Columbia, Feb. 22, 2018 (GLOBE NEWSWIRE) — Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that ground geophysics has been completed on its 18,768 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 35 kilometres south of Merritt, British Columbia.
Westhaven completed 11.5 line kilometres of ground magnetics in order to extend coverage to the south and southwest of the newly discovered South Zone. In accordance with the news release dated January 16, 2018, Westhaven recently discovered a new gold mineralized quartz vein system. This mineralized system was first outlined by ground magnetics in 2017 as a northeast trending linear mag low anomaly and subsequently confirmed by two drill holes where drilling intersected 85 metres of 0.52 g/t gold and 5.7 metres of 2.5 g/t gold. The recent magnetic survey has confirmed this structure extends for at least 1,500 metres to the south-southwest, considerably increasing the strike length to this structure. Please see map below for details on the survey.
The data from this magnetic survey will be used to assist targeting drill holes for the upcoming, fully financed drill program.
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 85 metres of 0.52 g/t Au and 5.7 metres of 2.5 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 30,000 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.
A photo accompanying this release is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/3f7ba52a-0b0e-4acb-82fb-a16d2aa89652