Westhaven benefits from B.C. mining uptick
Money that is pouring into B.C.-based exploration projects are bullish for the sector as a whole, said Westhaven Gold CEO Gareth Thomas.
Thomas spoke to Kitco on Wednesday.
Westhaven (CVE:WHN) is a gold-focused exploration company advancing its high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt.
Westhaven controls 37,000 hectares (370km2 ) 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.
The company turned heads in 2018 when it made a high-grade gold discovery of 17.70 metres of 24.50 g/t gold at Shovelnose.
Westhaven's neighbor, Talisker Resources, announced in April that intermediate precious metals miner New Gold was paying $13.8 million for a 14.8% stake in Talisker.
Further north, Newmont (NYSE:NEM, TSX:NGT) announced in March it was paying C$393 million to acquire GT Gold (TSX-V:GTT). GT Gold was advancing its Tatogga project in the Golden Triangle, near the Alaska and Yukon borders.
"It's certainly a vote of confidence for the province. Not just the geology and the potential that's here, but it's a favorable jurisdiction to work in," said Thomas.