Westhaven Gold Corp. (TSX.V: WHN)
Announced the results from its Mineral Resource Estimate at its 100% owned 17,623-hectare Shovelnose Gold Property.
The Shovelnose Gold Property is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 km south of the City of Merritt, British Columbia. […]
|Westhaven Gold||TSX.v : WHN|
|Market cap||C$59 m @ 47 cents|
|Location||British Columbia, Canada|
Westhaven Gold Completes Initial Mineral Resource Estimate Of 841,000 Indicated Ounces at 2.47 G/T Gold Equivalent And 277,000 Inferred Ounces at 0.94 G/T Gold Equivalent On The Shovelnose Gold Property
Vancouver, B.C. – January 10th, 2022 – Westhaven Gold Corp. (TSX.V: WHN)is pleased to announce the results from its Mineral Resource Estimate (MRE) at its 100% owned 17,623-hectare Shovelnose Gold Property. The Shovelnose Gold Property is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 km south of the City of Merritt, British Columbia (Canada).
The initial open-pit constrained MRE reported below (Table 1) is of the South Zone, and was completed by P&E Mining Consultants Inc., based on a total of 145 surface drill holes (56,491 m), 25,920 drill core analyses, 3,302 bulk density measurements, and preliminary metallurgical testwork.
Shovelnose South Zone MRE Highlights:
- 791,000 ounces of gold and 3,894,000 ounces of silver Indicated.
- 263,000 ounces of gold and 1,023,000 ounces of silver Inferred.
- 75% of the MRE in the higher confidence Indicated classification: 10.60 million tonnes at 2.47 g/t for 841,000 gold equivalent (Au Eq) ounces.
- Average Au Eq grade of Indicated MRE is 7 times higher than the cut-off grade, demonstrating excellent potential for future economic extraction (Table 2).
- Indicated mineralization is largely associated with the individual vein zones, whereas the Inferred is associated with the broader Veinlet Domain (please see Figure 1).
- This MRE is based on potential open-pit extraction – an MRE based on potential underground mining is in preparation and will be reported in the coming months.
- South Zone is just one of the many known mineralized zones on the Shovelnose Gold Property.
- Shovelnose is situated off a major highway, near grid power, rail, large producing mines, and within easy commuting distance from the City of Merritt.
Westhaven Gold management comments
“This is the first Mineral Resource Estimate on the Shovelnose Gold Property, and we are pleased to report a starting inventory of over a million ounces of gold from the first of multiple mineralized zones.
“It is important to highlight that 75% of this Mineral Resource is in the Indicated classification and grades 2.47 g/t Au Eq.
“Our technical team sees significant Mineral Resource expansion potential along this key trend. The 2022 expansion and exploration drill program will begin shortly, focusing on the FMN Zone, where high-grade gold mineralization (15.97 metres of 9.15 g/t Au) was intersected in drilling last year.
“Targeting new discoveries on undrilled exploration targets within this large, underexplored property will also remain a key focus going forward.”
Westhaven CEO and President, Gareth Thomas
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