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Westhaven Gold Outlines Plans for 2023; Drilling to Commence Shortly on the Shovelnose Gold Property
VANCOUVER, British Columbia, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to outline its plans for 2023, and to announce that d
About this update from Westhaven Gold Corp
[{"type":"text","content":" VANCOUVER, British Columbia, Feb. 22, 2023 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to outline its plans for 2023, and to announce that drilling will commence shortly on the 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, Westhaven's President & CEO, stated, “2022 was a milestone year for Westhaven. We completed a maiden resource at the South Zone, welcomed Franco-Nevada as a shareholder and drilled our highest-grade gold-silver intercept to date. Finding additional mineralized zones is the main objective for the company in 2023 as the vast majority of the 17,623ha Shovelnose Gold Property has had limited drilling. Our technical team has generated numerous targets outside of the Zone One Trend based on extensive data collected since the initial discovery with the belief this could lead to new discoveries on the property. These will be drill tested throughout the 2023 season commencing shortly.” Thomas goes on to add, “Over the course of the last decade, Westhaven has assembled the preeminent land position on the SBGB and we look forward to working all four of these properties in 2023.” Corporate Update $7.1 million in cash; applied for ~$2.1 million in Mineral Exploration Tax Credits (METC). Well-financed to accomplish a substantial amount of drilling and exploration work across our four-100% owned properties on the Spences Bridge Gold Belt. Drills are onsite and drilling will commence shortly at Shovelnose. 2022 Highlights Completed the first Mineral Resource Estimate at Shovelnose, over a million ounces of gold equivalent from the first of multiple mineralized zones. 791,000 ounces of gold and 3,894,000 ounces of silver Indicated. 263,000 ounces of gold and 1,023,000 ounces of silver Inferred. Arranged a financing package with Franco-Nevada Corporation (TSX, NYSE: FNV), the leading gold-focused royalty and streaming company. Drilled 38,147 metres (m) at Shovelnose. Drilled the highest-grade gold-silver intercept ever on the SBGB. 23.03m of 37.24 g/t gold (Au) and 209.52 g/t silver (Ag), including 1.12m of 294.00 g/t Au and 2,110 g/t Ag. Confirmed and better-defined high-grade surface mineralization at Franz, resulting in a 311% i...