PRECIOUS METALS

Westhaven's gold-silver hits continue ahead of inaugural resource

Drilling continues at Shovelnose

 Westhaven Gold’s Shovelnose project in BC

Westhaven Gold’s Shovelnose project in BC

Highlights included a 51.77m intersection grading 4.22g/t gold and 46.42g/t silver from 180.23m, including 27.85m of 7.51g/t gold and 83.94g/t silver at the South Zone.

President and CEO Gareth Thomas said the above gold grade and vein thickness further demonstrated the continuity and high-grade nature of Vein Zone 1.

He said the company was continuing to intersect gold-silver mineralisation at the recently-discovered FMN Zone, about 2km along strike from the South Zone.

More assays were pending.

The company, which changed name from Westhaven Ventures last year, is planning about 40,000m of diamond drilling this year.

It's aiming to establish a resource for the South Zone before year-end.

"Given our proximity to infrastructure, low drilling costs and recently completed bought deal financing, we are fully financed for our 2021 exploration activities," Thomas said.

Westhaven closed a C$15 million bought-deal offering, originally aiming to raise $10 million, priced at 70c per unit in March.

It's chaired by industry veteran Grenville Thomas, who was inducted into the Canadian Mining Hall of Fame in 2009.

It has three other projects in what it describes as BC's "newest gold belt".

Westhaven shares (TSXV: WHN) are trading at the lower end of a one-year range of 50c-$1.20.

They closed up 3.4% on Friday to 60c to capitalise it at $75.7 million (US$60.6 million).

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.