General Precious Metals
Westhaven Gold (TSX-V: WHN)(OTC: WTHVF) CEO Gareth Thomas on Drilling 14.96 Metres of 5.69 g/t Gold and 343.57 g/t Silver, Including 8.50 Metres of 8.69 g/t Gold and 478.59 g/t Silver at the FMN Zone, Shovelnose Gold Property
Gerardo Del Real: This is Gerardo Del Real with Resource Stock Digest. Joining me today is the President and CEO of Westhaven Gold Corp., Mr. Gareth Thomas. Gareth, great to have you back on. How are you?
Gareth Thomas: I'm great. Thanks for having me, Gerardo, as always.
Gerardo Del Real: I reached out because you drilled 14.96 meters of 5.69 grams per tonne gold, and 343.57 grams per tonne silver, including 8.5 meters of 8.69 grams per tonne gold, and 478.59 grams per tonne silver at the FMN Zone at the Shovelnose Gold Property. Somehow the stock figured out a way to go down on that news. And I figured I'd reach out, and get your take on the results.
Gareth Thomas: Yeah, for sure. Yeah. It's a little bit odd. I guess, you're only as good as your last drill hole. I guess when we drill 860 gram meters, our last results there back in April, it's hard to live up to that, but the fact is this is another great intercept. It's along strike and we're just growing FMN especially that silver number that's the same kind of gold equivalent almost the same as the gold there. So another 150 plus gram meter intercepts. Not to mention, we also drilled the 38 meters of the 3.36 grams per tonne gold there as well. And of course, then some holes right at near surface. So yeah, this thing's only getting bigger and we're certainly excited things are going well and it's getting bigger and I think that's what we want. And hopefully the market will come around and figure that out. It's been volatile but on our end when things are getting bigger that's usually a good sign for us.
Gerardo Del Real: You touched on the fact and you mentioned it in the release that the FMN zone benefits from minimal overburden is how you described it with mineralization starting at bedrock surface. And that is so critical if this is ever to become a mine. And obviously that's looking quite forward. But the bottom line is when you speculate on a gold play, what you want to do is you want a robust resource and you want something that's going to be economic. And that hopefully one day is able to turn into a mine. And I'd love for you to just touch on that a bit, because I think that's been overlooked as it relates to the FMN zone.
Gareth Thomas: That's a good point Gerardo it's everything near surface is obviously a bonus for anything when we're looking a bit far ahead, as you mentioned, but that is the truth. And you just look less than a kilometer to the northwest at Franz, where we have high grade, right literally on surface, you walk on and it's right there in an outcrop. And these things near surface or right at surface, you start finding more and more of them. It certainly bodes well for a future of open pit mining here that we can see in the future.
So yeah, it's good and as we hit the last result as touched on there, the 23 meters of 37 grams, we think we'll still hit more of those things just as we tighten up the spacing here, every drill hole's not going to be an 860 gram meter intercept. But certainly this is great news as we tighten the spacing. And I touched on, just off air there, about the Alpine and we were following up there and the eight meters of 20 grams we announced, I believe in late February. And as mentioned, these systems can be a little bit complex and drill intensive. You're not going to hit on every intercept there, but things are looking very good at Alpine as well as we figure out the exact shape of this, the exact strike it can be a little bit complex as mentioned, but we like what we're seeing at Alpine here too. So hopefully we'll have some, some better news out of there in the near future as well.
Gerardo Del Real: You also still have hundreds of meters of untested strike length for the most part at that FMN zone, right?
Gareth Thomas: Yeah. As we moved down to the southeast towards the Alpine and the South Zone there's all sorts of ground there. And I should mention to the listeners there, that, that gap between the Franz and FMN as well, where in our news release where we have a question mark, we did a whole bunch of geophysics there recently. It's done, we have just getting the data sorted out, but we're also going to be testing that area Northwest as well, which this geophysics DC resistivity has aided well in delineating drill targets. So we're getting that back as we speak, which is going to help us as we drill to the northwest and close that completely untested gap there as well. So both directions from FMN to the northwest, southeast remain, lots of targets there. So yeah, it's going to be drilling and there's going to be I think very high grade. Bonanza grade? Yes. Is there going to be very good grade? Yes. Is there going to be some areas where you're not getting not much gold? Yes. It's, this is sort of the name of the game here and that's the way it goes. But I think all in all the market hopefully comes around.
Gerardo Del Real: Well said, I'm told that you're going to be at PDAC as will I. I'm looking forward to catching up there. Is that accurate?
Gareth Thomas: That is accurate. Yeah. We're looking forward to… actually Sean and myself. We were both in London a couple weeks ago at the 1 to 1 conference there. And it's great to be back out and seeing people live. And we certainly look forward to the PDAC it's obviously a big one as, you know, Gerardo and it's. Yeah. I hope to see lots of people out there and yeah, it's good to be back in person.
Gerardo Del Real: I suspect the precious metals market is going to turn up pretty soon here. And I think here by year end, we're going to be looking back at the price of Westhaven stock and kind of shake our heads that it was ever at these levels, given some of the hits that you've already had and given the exploration upside. Gareth, always a pleasure catching up. We'll see you in person soon and look forward to catching up very, very soon as I know you have assays still pending.
Gareth Thomas: Thank you very much Gerardo we'll see you in Toronto.
Gerardo Del Real: Chat soon.
Gareth Thomas: Bye-bye.