- Westhaven Ventures (TSXV:WHN) has begun a Controlled Source Audio-frequency Magneto-Tellurics survey to expand mineralisation zones at its Shovelnose gold property
- Peter E. Walcott & Associates will carry out the survey, which is expected to cover a 15 square kilometre area
- If successful, the survey will be expanded to cover up to 60-line kilometres
- Separately, 475,000 incentive stock options have been granted to certain employees and consultants of the company
- Westhaven Ventures (WHN) is up 6.41 per cent and is trading at C$0.83 per share, with a market cap of $80.47 million
Westhaven Ventures (TSXV:WHN) has begun surveying its Shovelnose gold property and hopes to expand the site’s mineralisation zones.
A Controlled Source Audio-frequency Magneto-Tellurics survey will be carried out at the site, by Peter E. Walcott & Associates and is expected to cover a total area of 15 square kilometres.
The low-impact survey gathers resistivity information to a depth of 500 metres. The company hopes the survey will help identify resistive and conductive features, which could be related to epithermal vein systems on the property.
Covering around 18,000 hectares, Shovelnose sits within the prospective Spences Bridge Gold Belt in British Columbia.
An initial test will be undertaken at Shovelnose’s South Zone in an effort to outline mineralised zones and other anomalous resistivity features.
Should this be successful, the survey will then be expanded to cover up to 60-line kilometres.
Gareth Thomas, President and CEO of Westhaven Ventures, said that many new drill targets have been outlined over the last year through other surveying methods.
“We are now refining the higher priority targets, generating new targets and CSAMT will aid in the process.
“Geophysics continues to play a significant role in successfully targeting high-grade gold veins at Shovelnose,” he said.
Alongside this news, Westhaven has granted 475,000 incentive stock options to employees and consultants of the company.
These options have an exercise price of C$0.80 per share and are valid for a five year period from the date of issuance.
Westhaven Ventures (WHN) is up 6.41 per cent and is currently trading at C$0.83 per share at 10:47am EDT.