Get the Latest Investment Ideas Delivered Straight to Your Inbox. Subscribe

News Update


Gold Explorer Posts Assay Results from Newly Discovered Zone at BC Property
News Update

Share on Stocktwits


Westhaven Gold reported it drilled 5.50m of 4.58 g/t gold and 267.40 g/t silver at the newly discovered Forget Me Not Zone at its Shovelnose property in British Columbia.

In a news release, gold-focused exploration company Westhaven Gold Corp. (WHN:TSX.V), reported assay results obtained during the firm's ongoing drill program at its Shovelnose gold property located south of Merritt, British Columbia (B.C.). Westhaven Gold noted that the Shovelnose property encompasses 17,623 hectares (ha) and is situated within Canada's newest gold district, the Spences Bridge Gold Belt.

The company explained that the newly discovered Forget Me Not (FMN) Zone is the third new gold zone discovered at Shovelnose since it made the initial high-grade gold discovery there in 2018. At that time in the project's South Zone, samples obtained from Hole SN18-14 produced 17.70 meters (m) of 24.50 g/t Au (gold). Earlier this year in September, the firm's Franz Zone discovery assays returned 7.78m of 14.84 g/t Au and the firm also made a prior new discovery at the Lear Zone.

Westhaven reported that Hole SN20-139 in the FMN Zone returned 19.85m of 2.62 g/t Au and 139.75 g/t Ag, including one segment of 5.50m of 4.58 g/t Au and 267.35 g/t Ag.

The firm listed that at the Franz Zone, Hole SN20-112 results measured 8.97m of 2.38 g/t Au and 63.59 g/t Ag and Hole SN20-134 recorded 17.74m of 2.85 g/t Au and 56.24 g/t Ag.

Westhaven Gold reported that in 2020 it completed a total of 43,166m of diamond drilling. The firm stated that it is now awaiting assay result from 24 holes drilled in the FMN and Franz zones.

The company's President and CEO Gareth Thomas commented, "With the discovery of high-grade gold and silver at the FMN zone there are now four separate zones of high-grade mineralization at Shovelnose. Vein zone 1 now spans approximately 4 kilometers, is open along strike, and appears to be strengthening as drilling continues northwest from the FMN zone towards the Franz zone. With the discovery of three new gold zones in 2020, and several new zones to test in early 2021, we continue to increase the size and scale of mineralization on this largely underexplored property."

Westhaven Gold's Exploration Manager Peter Fischl added, "Recent drilling on the FMN and Franz targets continues to return significant gold and silver assays. Continuing along strike to the northwest, the Franz Zone has been extended farther northwest with the drilling of hole SN20-124. This hole, collared 500m northwest of the Franz discovery hole, SN20-101 (14.84 g/t Au over 7.78m), encountered a 4.7m calcite vein assaying 0.71 g/t Au and 0.60 g/t Ag over 3.53m, including 1.51 g/t Au over 0.62m. This vein also contains elevated mercury, up to 0.27 ppm. This vein intersection is now interpreted to represent the upper most part of the vein zone that has been preserved in a down-dropped fault block, potentially preserving a zone of boiling and gold deposition."

The company advised that the FMN target is found at the northwestward extension of Vein Zone 1 from the Tower/Mik and South zones and that follow-up drilling will continue northwest into the untested 700m long gap between FMN and Franz zone targets.


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. 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.

Want to read more about Gold and Silver investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe