Northaven Completes Airborne Geophysics at King Solomon Basin Gold/Silver Property
September 12 2011 - 3:17PM
Marketwired
NORTHAVEN RESOURCES CORP. (TSX VENTURE: NTV) is pleased to announce
that Geotech Limited has completed data acquisition on the
Company's King Solomon Basin (KSB) gold and silver property
employing their ZTEM System.
The 782.39 hectare KSB property, which is located 25 km
southeast of Port Alberni, incorporates two former small mines and
a number of known gold and silver mineralized occurrences over a
4.4 km segment of a longer apparent mineralized trend.
The former Black Panther Gold Mine produced 1,715 tones from
1947 to 1950 with reported grades of 9.24 g/t gold and 17.27 g/t
silver. Mineralization occurs in gold bearing shears over a
distance of 600 meters as well as in the surrounding altered wall
rock, with surface samples ranging from nil to 165.66 g/t gold.
Prior drilling indicates the Main Shear Zone extends to at least a
depth of 150 meters.
Work at the nearby Black Lion Showing identified 2 additional
shear zones which appear to be related to the Black Panther main
shear with values up to 10.95 g/t gold. Work at the Golden Eagle
Showing (1.9km east of the Black Panther) identified a vein of
ribbon-quartz that has been traced for 122m along the north west
strike and 99 m vertically. Surface assays of up to 93 g/t gold,
103 g/t silver over an average width of 1.1 meters have been
reported.
The former Havalah gold mine contains three ribbon-quartz veins
with widths from 0.1 to 3 meters and assays ranging from 13.7 -
125.5 g/t gold and 54.9 - 178.3 g/t silver. The mine produced 949
tons from 1936 to 1939 with reported grades of 8.48 g/t gold and
46.0 g/t silver.
Prior geological work on the property was stopped in the early
1980's and appears to have been limited to evaluation of the area
immediately surrounding the known mineral occurrences. In spite of
recommendations for further testing, no further work was done, due
perhaps to low gold and silver prices at the time. There appears to
have been no attempt made to establish continuity between the
mineral occurrences.
Northaven believes the numerous gold and silver occurrences on
the KSB property may be surface expressions of a much larger gold
mineralizing system at depth.
Northaven anticipates that data from the now completed ZTEM
program (which has a penetration capability of up to 2,000 meters)
will assist significantly in confirming the existence and relevant
parameters of this system. This ZTEM data, together with
information from prior geological work may in turn help identify
previously undetected target mineralization which could host a
large scale gold and silver deposit, if confirmed by subsequent
drilling.
On behalf of the Board of Directors of NORTHAVEN RESOURCES
CORP.
Malcolm B. Fraser, President
This news release has been reviewed by Andrew Gourlay,P. Geol.,
a Qualified Person under National Instrument 43-101. All technical
data herein is based on information contained in geological reports
or summaries prepared by or on behalf of third parties which have
not been independently verified by Mr. Gourlay or the Company, and
which remain subject to confirmation by subsequent exploration.
This news release may contain assumptions, estimates, and other
forward-looking statements regarding future events. Such
forward-looking statements involve inherent risks and uncertainties
and are subject to certain factors, many of which are beyond
Northaven's control, which may cause actual results or performance
to differ materially from those currently anticipated in such
statements.
The TSX Venture Exchange has not reviewed and does not accept
responsibility for the adequacy or accuracy of this news
release.
Contacts: Northaven Resources Corp. Malcolm Fraser President 604
696-3608 malcolm@northavenresources.com Northaven Resources Corp.
Allen Leschert CEO 604 696-3600 allen@northavenresources.com
www.northavenresources.com