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.
- 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)|
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: http://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, President, CEO & Director
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.
Core samples were prepared using the PREP-31 package in ALS’s Kamloops facility each core sample is crushed to better than 70 % passing a 2 mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250 g is taken and pulverized to better than 85 % passing a 75 micron (Tyler 200 mesh, US Std. No. 200) screen. 0.75g of this pulverized split is digested by Four Acid and analyzed via ICP-MS (method code ME-MS61m (+Hg)), which reports a 49-element suite of elements. All samples are analyzed by Fire Assay with an AES finish, method code Au-ICP21 (30g sample size). Additional Au screening is performed using ALS’s Au-SCR24 method, select samples are dry screened to 100 micron. A duplicate 50g fire assay is conducted on the undersized fraction as well as an assay on the entire oversize fraction. Total Au content, individual assays and weight fractions are reported. All analytical and assay procedures are conducted in ALS’s North Vancouver facility. A QA/QC program included laboratory and field standards inserted every 25 samples. At least one field blank is inserted in every batch of 25 samples, with additional blanks inserted following samples with visible gold.
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/cddfa02f-195e-4297-b2b3-136264814c97