Multiple Rigs Turning on Underexplored Canadian Gold Belt

by Mike Fagan

Mike Fagan


Westhaven Gold (TSX-V: WHN)(OTC: WTHVF) — currently trading below C$0.60 per share — has released assays from the final batch of holes from its 2020 drill program at the flagship Shovelnose Gold Project, British Columbia, Canada — highlighted by 2.36 grams per tonne (g/t) gold and 98 g/t silver over 6 meters.

Westhaven Gold controls 37,000 hectares (370 sq km) by way of four
100%-owned gold properties — Skoonka North, Skoonka Creek, Prospect Valley and Shovelnose — spread across the vastly underexplored Spences Bridge Gold Belt.

The company has made four high-grade gold discoveries since late-2018 and currently has two diamond drill rigs turning on a fully-funded, 40,000-meter drill program at Shovelnose.



Westhaven recently closed a C$15 million bought deal financing [and has qualified for an additional C$2 million Mining Exploration Tax Credit] and is now well-funded to complete its exploration initiatives at Shovelnose for 2021, which include:

  • Drilling approximately 40,000 meters via multiple diamond drill rigs
     
  • Discovering additional gold-silver zones on the Shovelnose property
     
  • Completing a maiden resource at the South Zone where preliminary metallurgical testing is underway
     
  • Extending high-grade mineralization at the newly-discovered FMN and Franz Zones
     
  • Initiating a large regional exploration program including prospecting, mapping, stream sediment, and soil sampling

Last month, Westhaven resumed drilling at Shovelnose with a focus on extending the known gold-silver mineralization at the newly-discovered FMN zone. That rig will carry on-trend toward the Franz Zone where 7.8 metres of 14.8 g/t gold and 39.4 g/t silver was encountered last fall.

Drilling has also commenced via a second rig with a focus on step-out and infill drilling at the South Zone.
 

 shovelnose property


Westhaven CEO, Gareth Thomas — whom you’ll be hearing more from in a moment — commented via press release:
 

“Drilling at the FMN Zone has encountered more significant veining. It appears this zone strengthens as drilling continues along strike testing the present 600m gap between the FMN and Franz zones. The current drilling at the FMN Zone is expanding on the narrow but high-grade gold and silver intercepts first drilled in late 2020. In addition, the first two holes completed in the South Zone (SN21-152 and SN21-154) on the southwestern edge of the previous drilling has intersected Vein Zone 1 down dip by an additional 140m from previous drilling (Please see section below). This demonstrates that there is significant potential to increase the size of the South Zone vein system through exploration drilling. This bodes well for the Company as we move towards completing a maiden resource estimate for the South Zone in 2021.”


With approximately C$13.3 million in the treasury, a 40,000-meter drill program underway in a Tier-1 jurisdiction, and a maiden resource in the works — Westhaven Gold is one of the most active junior gold exploration companies in the space with plenty of news flow on-tap for 2021.

Our own Gerardo Del Real of Junior Resource Monthly sat down with Westhaven Gold CEO, Gareth Thomas, for a discussion on all-things Westhaven. You can listen (or read) to that interview here.

You can also learn more about Westhaven Gold by clicking here.

Yours in profits,

Mike Fagan

Mike Fagan
Editor, Resource Stock Digest
 

Mike Fagan has mining in his blood. As a teenager he staked countless gold and silver properties in Nevada alongside his dad, Brian Fagan, who created the Prospect Generator model that’s still widely used today in the resource space. One of those staking projects was put into production by a major Canadian mining company — a truly rare and profitable experience. That background uniquely qualifies him as a mining stock speculator. One of the most well-known names in the business, Mike is now putting that experience to use for the benefit of Resource Stock Digest and Hard Asset Digest readers.