NEW: No-Cost StreetSmart Live! Events. This type of intellectual capital is usually not made available to the general public. Learn More

Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: WHN

Gold Explorer Records High-Grade Results from First Drill Hole at Newly Discovered Zone
News Update

Share on Stocktwits

Source:

Westhaven Gold reported it intercepted 7.78 meters of 14.84 g/t gold and 39.40 g/t silver at the recently discovered high-grade Franz Zone at its Shovelnose property in British Columbia.

Westhaven Gold Corp. (WHN:TSX.V), in a news release reported drill results from the first hole drilled at the newly discovered Franz Zone at its 17,623-hectare Shovelnose gold property. The firm noted that the Shovelnose property is contained within the Spences Bridge Gold Belt and is located approximately 30 km south of Merritt, British Columbia.

The company reported that the drill results from hole SN20-101 in the Franz Zone included 7.78 meters of 14.84 g/t gold and 39.40 g/t silver and 16.32 meters of 2.37 g/t Au and 31.15 g/t Ag at depths ranging from 18.36 to 57.44 meters. The firm indicated that this newly discovered zone is located about 2.8 km along strike from the South Zone's high-grade gold discovery and noted that less than half of this strike length has been drill tested previously.

Westhaven Gold's President and CEO Gareth Thomas commented, "Our goal at the start of this year was to find additional high-grade gold zones at Shovelnose. The Franz Zone outcrop was discovered in mid-August and grab samples returned assays of up to 51.10 g/t gold. This drilling confirms that high-grade gold exists at depth and not just on surface."

"Though we only have the assays back for one hole, we are seeing similar veining and textures in other drill holes at Franz. We will release assays from holes as they are received. It is important to highlight that this 17,000-hectare property is still largely underexplored. We are confident we will find additional high-grade gold zones as mapping, prospecting, geophysics and drilling continues," Thomas added.

The company's Exploration Manager Peter Fischl remarked, "These drill results confirm the presence of high-grade gold mineralization encountered in surface grab samples collected on the Franz Zone. The zone is currently being tested with one drill. Eight holes have been completed on four sections spaced 50m apart. The zone has been intersected in all holes, giving a drill-tested strike length of 150m. The Franz Zone appears to be part of a single northwest trending multi-kilometer scale gold bearing vein system that includes the more recently drilled South Zone and the historic Mik and Tower showings."

[NLINSERT]

Disclosure:
1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Westhaven Gold. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.




Learn More about Streetwise Reports Live

Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe