EXPLORATION & DEVELOPMENT

Westhaven wowed by more high grades at Shovelnose

Inaugural resource due this year

Staff reporter

This article is 4 years old. Images might not display.

Westhaven reported 0.45m at 614g/t gold and 2,070g/t silver, part of a 41.55m intercept grading 8.17g/t gold and 34.64g/t silver from 82m.

An inaugural resource is due before year-end at the South Zone.

President and CEO Gareth Thomas said it was encouraging to see the expansion of mineralisation and continuity of high grade within the South Zone.

"With the recent exploration success at the FMN Zone [15.97m of 9.15g/t gold and 27.43g/t silver], and with several high-priority targets generated from ongoing exploration programmes including geophysics, geochemistry and prospecting, a third drill is being mobilised to the property," he said.

The Grenville Thomas-chaired company was aiming to drill about 40,000m this year at its flagship project in the Spences Bridge Gold Belt.

It had about C$10 million in cash, according to a presentation this week.

Westhaven had raised $15 million in an upsized offering at 70c per unit in March.

Its shares (TSXV: WHN) have spanned 50c-$1.25 over the past year and closed up 2.6% yesterday to 77c, valuing it at $97 million (US$80 million).

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

Expert-led Insights reports and Analytics tools built on robust data, rigorous analysis and expert commentary covering mining Risk, Projects, ESG, Leadership, and Investor Sentiment.

editions

Leadership Insights 2025

Leadership Insights reveals key trends in priority mining issues through interviews with 15+ top mining company executives and an industrywide survey.

editions

Mining IQ Risk Analytics

Risk Analytics offers interactive access to World Risk Insight data, allowing you to customise risk views, benchmark jurisdictions, explore data behind scores and read expert commentary to guide your decision-making.

editions

Project Pipeline Index 2025

View our 50 top mining projects, handpicked using a unique, objective selection process from an expanded database of 600+ global assets.

editions

Investor Sentiment Insights 2025

Exclusive insights into the plans, priorities and preferences of 130+ mining investors and top factors influencing investment decisions in 2025.