Westhaven Provides Exploration and Drill Program Objectives for 2021
March 04 2021 - 8:00AM
Westhaven Gold Corp. (TSX-V:WHN) is pleased to
provide drill plans for 2021 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.
Gareth Thomas, President & CEO of Westhaven
Gold states: “Having closed the previously announced $15 million
bought deal financing, plus having qualified for an additional $2
million Mining Exploration Tax Credit (METC1), the Company is fully
funded for 2021 and well into the 2022 season. Objectives for 2021
are to find more gold-silver zones on the Shovelnose property,
complete a maiden resource at the South Zone, and extend the
high-grade mineralization at the newly discovered FMN and Franz
Zones.” Thomas goes on to add, “With the financing now complete
we’ve requested the assay lab to release all finalized assays. We
will release assays once received and interpreted.”
Plans for 2021:
- Drilling resumed on February 4th,
2021 with the first drill focused on extending the gold-silver
mineralization encountered at the newly discovered FMN zone. This
drill will carry on trend towards the Franz Zone where 7.78 metres
of 14.84 g/t gold and 39.40 g/t silver was encountered last
fall.
- A second rig began drilling at the
South Zone on February 18th, 2021 and will initially focus on
step-out and infill drilling at the South Zone.
- Complete a maiden resource at the
South Zone.
- Approximately 40,000 metres of
diamond drilling, the majority focused on exploration targets,
including those generated from CSAMT and DC Resistivity surveys
completed in 2020.
- A large regional exploration
program will target features delineated by work performed in 2020
and prior years. Activities will include prospecting, mapping,
stream sediment and soil sampling.
- Preliminary metallurgical test work
has begun on the South Zone.
|
(1) |
Westhaven benefits from the British Columbia Mining Exploration Tax
Credit (METC), which is a permanent incentive to support investment
in mining. The METC is a refundable British Columbia income tax
credit for eligible individuals and corporations conducting
grassroots mineral exploration in British Columbia and is worth 30
per cent of qualified mining exploration expenditures. Given
Westhaven’s 2020 qualifying exploration expenditures, the Company
has qualified and will file for a METC of $2,079,000 in 2021. |
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.
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 DirectorsWESTHAVEN GOLD
CORP."Gareth Thomas"Gareth Thomas, President, CEO &
Director
About Westhaven Gold Corp.
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 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.westhavengold.com
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/e29dfe6d-c251-450e-96e7-c5a728e4af54
https://www.globenewswire.com/NewsRoom/AttachmentNg/f6ad1bdb-438f-43a2-8d21-29069990c2ac
https://www.globenewswire.com/NewsRoom/AttachmentNg/d9409f4c-961f-48e8-9ea4-f1b657327791
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