The highest gold - silver intercept ever drilled...
Gareth Thomas Co-founder, President and CEO of Vancouver based gold exploration company, Westhaven Gold Corp. (TSX-V:WHN), announced the company's biggest discovery yet on their high-potential Shovelnose project.
A million-ounces of gold in an open-pit constrained initial resource estimate was published on January 10th, 2022. This is a good starting point for their flagship project, the Shovelnose – one of four 100% company owned properties inside the legendary Spences Bridge Gold Belt - to continue expanding along a 4km strike.
- Indicated resource of 841koz Au
- Inferred resource of 277koz Au
Preliminary test results determined 95% gold and 96% silver recoveries with mineralization in non-refractory and amenable to recovery by standard industry processes.
The best drill result on Shovelnose and probably the entire gold belt was on April 6th, 2022 confirmed the potential growth that the gold exploration company had long suspected…
"We are pleased to report the highest gold-silver
intercept (857.64 gram-meters) ever drilled on the
Shovelnose gold property at the FMN zone."
Drill hole SN22-212 in the FMN zone of the Shovelnose property showed a 23.03 meter intersection of 37.24 grams of gold per ton and 214.70 grams of silver per ton.
Furthermore, new silver discoveries are significantly contributing to the property wide precious metals inventory as this intercept also contained a high grade 1.12 meter section of 294 g/t gold and 2,110 g/t silver.
The Spences Bridge Gold Belt Opportunity…
The discovery investment potential hasn't gone unnoticed. Franco-Nevada (TSX / NYSE: FNV) completed a multi-million dollar financing arrangement including royalty purchases and an equity position. This is a rare but welcome event and a solid endorsement from the leading gold-focused royalty and streaming company. At the current rate of operations, proceeds from this transaction will contribute to funding a substantial amount of exploration across the Spences Bridge Gold Belt properties into early 2024
With four properties within the Spences Bridge Gold Belt, including the Shovelnose, Westhaven Gold Corp. (TSX-V:WHN) owns and controls over 37,000 hectares of prime, mineral rich mining opportunities in the area.
Residing within a short two and a half hour drive from Vancouver BC, ground zero of the natural resource and mining sector, the Spences Bridge Gold Belt is advantageously located close to both highways and transportation hubs.
Westhaven Gold Corp. (TSX-V:WHN) isn't settling for its recent breathtaking gold-silver intersect discovery. In fact, the drills have been mobilised to the 100% owned Snoonka Creek Gold property within the Spences Bridge Gold Belt, which has some of its best gold grades in well developed epithermal quartz veins.
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