Westhaven Commences CSAMT Survey to Expand Targeting at Shovelnose Gold Property
May 20 2020 - 08:00AM
Westhaven Ventures Inc.
(
TSX-V:WHN) is pleased to report it has commenced
a CSAMT survey at its 17,623 hectare Shovelnose gold property.
Shovelnose is located within the prospective Spences Bridge Gold
Belt (SBGB), which borders the Coquihalla Highway 30 kilometres
south of Merritt, British Columbia.
A Controlled Source Audio-frequency
Magneto-Tellurics (CSAMT) survey will be carried out by Peter E.
Walcott & Associates Limited. The survey will cover a 3 x
5-kilometre area proximal to the South Zone. An initial test will
be carried out over the South Zone in an attempt to delineate
mineralized zone signatures and other anomalous resistivity
features of interest to depth. If successful, the survey will
be expanded to cover up to 60-line kilometres.
CSAMT is a low impact, ground geophysical survey
method from which resistivity information can be obtained from
sub-surface down to approximately 500 metres. The survey will be
helpful in identifying zones of both resistive and conductive
features that could represent silicification and clay alteration
related to epithermal vein systems.
Gareth Thomas, President and CEO of Westhaven,
stated: “We have outlined many new drill targets over the past year
through prospecting, mapping, ground geophysics and soil
geochemistry. We are now refining the higher priority targets,
generating new targets and CSAMT will aid in the process.
Geophysics continues to play a significant role in successfully
targeting high-grade gold veins at Shovelnose. The recently
discovered Lear Zone (SN20-56 zone 3
returned 10.56m of 3.67 g/t
Au) drill targeting was largely driven by geophysics. The
Lear Zone presented as a resistivity high coincident with a
magnetic low anomaly, as does the South Zone.”
In addition to the CSAMT survey, additional
Controlled Source Electro-Magnetic (CSEM) techniques will be tested
in an effort to find a rapid cost-effective survey method which can
be employed both within the South Zone and over other zones and
targets within the property.
Qualified Person Statement
Peter Fischl, P.Geo., who is a Qualified Person
within the context of National Instrument 43-101 has read and takes
responsibility for this release.
Options
Westhaven announces that it has granted 475,000
incentive stock options to employees and consultants. The incentive
stock options have an exercise price of $0.80 per share, are valid
for a 5-year period from the date of grant, and are subject to
regulatory approval. The Company's Stock Option Plan allows for the
issuance of up to 10% of issued and outstanding share capital in
the form of incentive stock options. As a result of this grant, the
Company has 9,395,589 stock options issued, representing 9.7%
of the issued and outstanding share capital.
Neither the TSX Venture Exchange nor its Regulation
Services Provider (as that term is defined in the policies of the
TSX Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
On behalf of the Board of Directors WESTHAVEN VENTURES
INC. "Gareth Thomas"Gareth Thomas, President, CEO &
Director
About Westhaven:
Westhaven is a gold-focused exploration company
advancing the high-grade discovery on the Shovelnose project in
Canada’s newest gold district, the Spences Bridge Gold Belt.
Westhaven controls 37,000 hectares (370 square kilometres) with
four 100% owned gold properties spread along this underexplored
belt. The Shovelnose property is situated off a major highway, in
close proximity to power, rail, large producing mines, and within
commuting distance from the city of Merritt, which translates into
low cost exploration. Westhaven is committed to the highest
standards of environmental and social responsibility with a focus
on generating positive outcomes and returns to all stakeholders.
Westhaven trades on the TSX Venture Exchange under the ticker
symbol WHN. For further information, please call 604-336-6921 or
visit Westhaven’s website at www.westhavenventures.com
A map accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/424e351b-8516-4a65-9b3b-96ec848def77
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