Westhaven Plans Inaugural Drill Program at Skoonka Creek Gold Property
August 10 2020 - 9:00AM
Westhaven Gold Corp. (TSX-V:WHN) is pleased to
announce preparation for a diamond drilling program at its 2,784
hectare Skoonka Creek Gold Property, located within the prospective
Spences Bridge Gold Belt (SBGB), British Columbia.
Westhaven acquired a 100% interest in the
Skoonka Creek Gold Property, subject to a 2% net smelter return
royalty, in May of 2017. Previous owners, through prospecting,
mapping, geochemistry, geophysics, and drilling, outlined several
gold zones. The best drill intercept returned 12.80 metres (m) of
20.20 g/t gold (Au).
Skoonka Creek Gold Property
Highlights:
- Road accessible and close to power,
rail and major highways.
- Over $4.5 million spent by previous
owners / operators.
- Significant areas of epithermal
alteration and veining which are prospective for gold & silver
mineralization have been outlined.
- 3,000-metre-long by 500-metre-wide
structural corridor encompassing numerous gold and/or pathfinder
element (arsenic, antimony, mercury, molybdenum) soil and rock
geochemical anomalies.
Skoonka Creek High-Grade Drill
Intercepts Include:
- 20.20 g/t
gold over 12.80m (SC-008)
- 26.80 g/t
gold over 3.31m (SC-007)
- 7.48 g/t
gold over 4.10m (SC-006)
- 3.39 g/t
gold over 4.67m (SC-038)
- 6.43 g/t
gold over 1.20m (SC-039)
Gareth Thomas, President & CEO of Westhaven
stated, “Prior to Westhaven’s discovery of high-grade gold at its
100% owned Shovelnose Gold Property, the Skoonka Creek Gold
Property had the highest-grade gold drill intercepts across the
entire Spences Bridge Gold Belt. In 2017, Westhaven identified the
JJ-West target which is possibly the continuation of the high-grade
JJ Vein zone last drilled in 2007. We look forward to applying what
we have learned at our Shovelnose Gold Property to the Skoonka
Creek Gold Property.”
Soil, rock sampling, and prospecting have
uncovered anomalous pathfinder geochemistry that suggests the
possible continuation of the JJ Vein zone to the southwest in a
down-dropped fault block that has preserved the upper portions of
an epithermal system anomalous in mercury, antimony and
arsenic. These high-level pathfinders are coincident and
on-trend with an airborne magnetic low of similar strike as the JJ
vein zone to the northeast. Quartz float and outcrop found
during recent prospecting and soil sampling at JJ-West further
enhances the strength of this target. Ground and airborne
geophysical surveys have identified linear magnetic features
striking in a similar direction as the JJ Vein zone that may be
related to and/or associated with additional zones of gold-silver
mineralized veins. The drill program will consist of an initial 12
holes totalling 2,000m and will look to mobilize a drill to the
property in late August.
For more information on the Skoonka Creek Gold
Property please visit:
http://westhavenventures.com/projects/skoonka-creek-gold/details/
Westhaven has granted 260,000 incentive stock
options to directors, officers, and/or consultants. The incentive
stock options have an exercise price of $0.95 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 9,580,589 stock options issued, representing 9.4% of
the issued and outstanding share capital.
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 Directors WESTHAVEN GOLD
CORP. "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.westhavengold.com
Maps accompanying this announcement are available
at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/d469f5e6-6dfd-4ce4-bea4-13f89b6a03df
https://www.globenewswire.com/NewsRoom/AttachmentNg/fced68f3-470f-4ceb-9b9e-d4f931c93fa2
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