Vancouver, B.C. – January 17th, 2017 – Westhaven Ventures Inc. (TSX-V:WHN) is pleased to report drill results from its 19,012 hectare Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 km south of Merritt, British Columbia. This drill program consisted of 4 holes totaling 725 metres of diamond drilling.
The objective of this second drill program was to determine the geometry of gold mineralization evident in the southern portion of the Alpine Zone, by drilling an east-west oriented fence line of holes to follow up on hole 16-02 drilled earlier this year which intersected 16.7g/t gold (Au) over 0.5 metres ( news release dated July 27th, 2016). It was determined that the southern portion of the Alpine Zone consists of a +135-metre thick southeast dipping gold bearing silicified rhyolite tuff extending downward from bedrock surface. The orientation of quartz veining within this unit suggests that a deeper feeder source dips to the west and extends over 800 metres northward along strike. The style of mineralization is similar to that found at the Tower Zone, situated approximately 400 metres west.
Management intends to test for a potentially higher-grade feeder zone at depth by conducting a deep- penetrating IP survey and follow-up drilling in 2017.
Highlights of the program include:
|Drill Hole||From (m)||To (m)||Length (m)||Au (g/t)||Ag (g/t)|
"With each successive drill program at Shovelnose we continue to find better gold grades locally within greater thicknesses of gold mineralized sections. In 2016, we drilled 9 holes for a total of 1,902 metres. This resulted in intercepts of 161 metres grading 0.23 g/t Au and 119.6m of 0.27 g/t Au with higher grade intervals including 16.7 g/t Au over 0.5 metres and 4.95 g/t Au over 0.6 metres. We have outlined a large mineralized system that remains open in all directions including potential for higher grade mineralization. Shovelnose’s advantaged location near infrastructure and its proximity to the Coquihalla Highway significantly enhances its potential. We are keen to expand mineralization at the Alpine Zone and drill other untested, high priority targets in this large and favourable gold system. Westhaven is currently fully financed and preparing for a drill program in the near term as we have high-priority drill-ready targets,” stated Shaun Pollard, Director and CFO.
Shovelnose Gold Property Overview
To date Westhaven has completed 40 drill holes (2 were abandoned in overburden) for a cumulative total of 6,371 metres, in four separate target areas. There is evidence of a significant mineralized alteration system within the property where float samples grading 119 g/t Au and 273 g/t Ag, veins in trenches grading 66 g/t Au, as well as wide low grade alteration zones typical of epithermal gold deposits have been discovered. Please refer to the Shovelnose Project page on our website for further information. http://westhavenventures.com/projects/shovelnose-gold/details/
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100%-interest in over 29,000 hectares within the prospective SBGB, which is situated within a geological and structural setting similar to other significant epithermal gold-silver systems. It is close to existing transportation arteries allowing for cost-effective exploration. The SBGB is a 110-kilometre northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge Group. Westhaven has been working on the SBGB since 2011 and believes these relatively underexplored volcanic rocks are highly prospective for epithermal style gold and silver mineralization.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Gareth Thomas, Director
About Westhaven Ventures Inc.
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose and Prospect Valley gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven’s website at www.westhavenventures.com
Qualified Person Statement
L. John Peters, 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.