Tag: Westhaven Gold Corp.

Westhaven announced the highest-grade Au-Ag intercept ever drilled at its 100%-owned Shovelnose gold property in British Columbia. Hole SN22-212, drilled within the FMN Zone, intercepted 37.24 g/t Au and 209.52 g/t Ag over 23.03m, and is located over 2km from the South Zone resource. In our view, this is a game-changing intercept for the company and validates our belief that the delivery of a +1M oz Au resource at the South Zone earlier this year was only the beginning of what could eventually become a multi million-ounce gold camp. As additional drilling is completed at the FMN Zone, we believe the zone could potentially be included in a future resource update. Our base and upper-case scenarios, which incorporate additional depth potential and strike extensions of known vein zones, including the potential at the Franz and FMN targets, support mineral inventory estimates of 2.1M oz AuEq and 6.8M oz AuEq, respectively.

Westhaven announced assays for an additional five holes from the 2021 drilling program (40,000m) at its 100%-owned Shovelnose gold project in British Columbia. The highlight intercept is from Vein Zone 2 within the Alpine Zone, ~500m from previous high-grade intercepts reported within Vein Zone 2, and to the NW of the South Zone where the company recently delineated a maiden resource of 1.1M oz Au. We note that these results are amongst 17 infill holes not included in the open-pit resource delineated at Shovelnose and could likely add additional ounces to a future resource update. We believe the Alpine Zone offers good open pit potential given the near-surface intercepts and high grades encountered thus far.

Shovelnose project in southern British Columbia. The current program is focused on identifying additional Au-Ag zones, resource definition at the South Zone and extending the high-grade mineralization at FMN and Franz. Westhaven has completed 34,991m of diamond drilling in 2021 so far and assays are pending for an additional 18 holes. With a highlight intercept of ~1.1 g/t Au over ~85m, this new batch of assays continues to demonstrate the South Zone’s bulk-tonnage potential. Given Shovelnose’s premium location, access to infrastructure and near-term resource potential, we believe Westhaven should command attention from investors.