World Class Gold Discovery About to Get Classier
Institutions Ponied Up $15 Million to Drill Canada’s Newest Gold District
Westhaven Gold (TSX-V: WHN)(OTC: WTHVF) is set to embark on one of the largest exploration programs of any junior mining company in the world
Westhaven Gold (TSX-V: WHN)(OTC: WTHVF) is hot on the trail of a world-class high-grade gold discovery at its flagship Shovelnose Gold Project in British Columbia.
Westhaven Gold controls 37,000 hectares (370 sq km) by way of four 100%-owned gold properties — Skoonka North, Skoonka Creek, Prospect Valley and Shovelnose — spread across the vastly underexplored Spences Bridge Gold Belt.
The company has made four high-grade gold discoveries since late-2018 and currently has two diamond drill rigs turning on a fully-funded, 40,000-meter drill program at Shovelnose.
Westhaven recently closed a C$15 million bought deal financing [and has qualified for an additional C$2 million Mining Exploration Tax Credit] and is now well-funded to complete its exploration initiatives at Shovelnose for 2021, which include:
Drilling approximately 40,000 meters via multiple diamond drill rigs
Discovering additional gold-silver zones on the Shovelnose property
Completing a maiden resource at the South Zone where preliminary metallurgical testing is underway
Extending high-grade mineralization at the newly-discovered FMN and Franz Zones
Initiating a large regional exploration program including prospecting, mapping, stream sediment, and soil sampling
In early 2021, Westhaven resumed drilling at Shovelnose with a focus on extending the known gold-silver mineralization at the newly-discovered FMN zone. As part of that drilling, it has already announced the intersection of high-grade gold-silver in multiple zones. Highlights include:
2.73 grams per tonne (g/t) gold and 15.78 g/t silver over 79 meters at the South Zone
9.15 g/t gold and 27.43 g/t silver over 16 meters at the FMN Zone
Westhaven CEO, Gareth Thomas — whom you’ll be hearing more from in a moment — commented via press release:
"With this significant high-grade gold-silver drill intercept at the FMN Zone, our theory that more high-grade centres occur along this major NW-SE structure has proven correct. Hole SN21-161 (15.97m of 9.15 g/t Au and 27.43 g/t Ag) is approximately 700m away from the Franz Zone discovery drill hole SN20-101 (7.78m of 14.84 g/t Au and 40.68 g/t Ag). Our Exploration Manager, Peter Fischl talked about a "kink" in the structure and its importance for potential mineralization along key structures exhibiting strike-slip movement. Our team is gaining a better understanding of the structural controls on the Shovelnose Property which is important as we focus the majority of the fully funded 2021 drilling on exploration targets on this large and underexplored property. In addition, drilling in the South Zone, which is geared towards the completion of an inaugural maiden resource estimate by years-end, continues to intersect significant widths of high-grade gold-silver mineralization and demonstrate continuity of veins (SNR21-02: 79.00m of 2.73 g/t gold and 15.78 g/t silver)."
Drilling has also commenced via a second rig with a focus on step-out and infill drilling at the South Zone.
With approximately C$13.3 million in the treasury, a 40,000-meter drill program underway in a Tier-1 jurisdiction, and a maiden resource in the works — Westhaven Gold is one of the most active junior gold exploration companies in the space with plenty of news flow on-tap for 2021.
Exclusive Interview with Gareth Thomas
CEO, Westhaven Gold Corp.
With a world-class discovery in a tier-1 jurisdiction and plenty of cash to thoroughly drill it… Westhaven Gold (TSX-V: WHN)(OTC: WTHVF) is set to embark on one of the largest exploration programs of any junior mining company in the world this year.
It’s the right asset — with numerous gold discoveries already made at Shovelnose, including the highlight hit of 17.7 meters of 24.5 gram per tonne gold.
It’s the right location — just a few hours drive from Vancouver in one of the world’s top mining jurisdictions, British Columbia.
And it’s a proven model, with a classic low-sulphidation epithermal system similar to Hishikary, Kupol, and Fruta Del Norte that larger miners love.
Now, Westhaven Gold is set for growth with a fully-funded 40,000 meter drill campaign planned for 2021 that looks to build continued success of its recent discoveries as it heads toward a maiden gold resource.
Shares were over US$1.00 on the back of the initial discovery a few years ago but they’ve since been cut in half.
Not only has the company made even more discoveries since then, but the gold price is also much higher.
Shares of Westhaven need to double just to return where they were on the initial discovery…
And any positive drill results — which are likely given the extensive amount of drilling being done this year — could send shares much higher than that, meaning returns of many multiples.
Westhaven Gold (TSX-V: WHN)(OTC: WTHVF) is trading near six-month lows below US$0.60 and is worth checking out before the news starts flowing from all the drill results… and before investors have a chance to bid shares back up!
You can do that at its website here.
— Resource Stock Digest Research