- Westhaven Gold (WHN) has announced the results of its mineral resource estimate for the Shovelnose Gold Property
- Based on the South Zone, the MRE contains indicated resources of 792,00 ounces of gold and 3,894,000 ounces of silver
- The average gold equivalent grade of indicated mineral resources is seven times higher than the cut-off grade
- The MRE will form the basis for Westhaven’s 2022 drill program
- Westhaven is a gold-focused exploration company advancing the Shovelnose Project in British Columbia
- Shares in Westhaven Gold Corp. (WHN) are up 7.14 per cent, trading at $0.45 per share
Westhaven Gold (WHN) has announced the results of its mineral resource estimate (MRE) for the Shovelnose Gold Property.
This initial open-pit constrained mineral resource estimate is based on 145 surface drill holes, 25,920 drill core analyses, 3,302 bulk density measurements, and preliminary metallurgical testwork at the South Zone.
According to the MRE, the South Zone contains indicated resources of 792,00 ounces of gold and 3,894,000 ounces of silver, as well as an inferred resource of 263,000 ounces of gold and 1,023,000 ounces of silver.
“This is the first mineral resource estimate on the Shovelnose Gold Property, and we are pleased to report a starting inventory of over a million ounces of gold from the first of multiple mineralized zones,” commented Westhaven CEO Gareth Thomas.
The average gold equivalent grade of indicated mineral resources is seven times higher than the cut-off grade, demonstrating the South Zone’s potential for future production.
“It is important to highlight that 75 per cent of this mineral resource is in the indicated classification and grades 2.47 g/t gold equivalent,” added Mr. Thomas.
The indicated mineralization is largely associated with the individual vein zones, whereas the inferred resource is associated with the broader Veinlet Domain.
“The 2022 expansion and exploration drill program will begin shortly,” said Mr. Thomas, “focusing on the FMN Zone, where high-grade gold mineralization was intersected in drilling last year.”
Westhaven is a gold-focused exploration company advancing the Shovelnose Project in Canada’s newest gold district, the Spences Bridge Gold Belt in British Columbia.
Shares in Westhaven Gold Corp. (WHN) are up 7.14 per cent, trading at $0.45 per share as of 12:02 pm EST.