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Westhaven's gold-silver hits continue ahead of inaugural resource

Westhaven Gold has reported strong results from ongoing, fully-funded drilling ahead of an inaugural resource at its Shovelnose project in British Columbia’s Spences Bridge Gold Belt.
Westhaven's gold-silver hits continue ahead of inaugural resource Westhaven's gold-silver hits continue ahead of inaugural resource Westhaven's gold-silver hits continue ahead of inaugural resource Westhaven's gold-silver hits continue ahead of inaugural resource Westhaven's gold-silver hits continue ahead of inaugural resource

Westhaven Gold’s Shovelnose project in BC

Ngaire McDiarmid

Reporter

Highlights included a 51.77m intersection grading 4.22g/t gold and 46.42g/t silver from 180.23m, including 27.85m of 7.51g/t gold and 83.94g/t silver at the South Zone.

President and CEO Gareth Thomas said the above gold grade and vein thickness further demonstrated the continuity and high-grade nature of Vein Zone 1.

He said the company was continuing to intersect gold-silver mineralisation at the recently-discovered FMN Zone, about 2km along strike from the South Zone.

More assays were pending.

The company, which changed name from Westhaven Ventures last year, is planning about 40,000m of diamond drilling this year.

It's aiming to establish a resource for the South Zone before year-end.

"Given our proximity to infrastructure, low drilling costs and recently completed bought deal financing, we are fully financed for our 2021 exploration activities," Thomas said.

Westhaven closed a C$15 million bought-deal offering, originally aiming to raise $10 million, priced at 70c per unit in March.

It's chaired by industry veteran Grenville Thomas, who was inducted into the Canadian Mining Hall of Fame in 2009.

It has three other projects in what it describes as BC's "newest gold belt".

Westhaven shares (TSXV: WHN) are trading at the lower end of a one-year range of 50c-$1.20.

They closed up 3.4% on Friday to 60c to capitalise it at $75.7 million (US$60.6 million).