Following a massive claim staking program in southern British Columbia by Sable Resources Ltd. [SAE-TSXV], the company has formed a strategic alliance with Westhaven Ventures Inc. [WHN-TSXV] Sable staked 189,197 hectares covering over 70% of workable ground of the Spences Bridge Gold Belt (SBGB). The ground is held by Sables’ 100% subsidiary Multinational Mining Inc. The SBGB is a 200-km long by 30-km-wide, emerging Low-Sulphidation Epithermal Gold Belt that Sable believes to be highly prospective and underexplored. Interpreted by Sable to be a failed cretaceous rift basin, Sable believes the belt is prospective for Fruta del Norte style high-grade epithermal mineralization.
Westhaven, which already has projects in the SBGB, recently released high-grade intersects at their Shovelnose Project that included intersecting 1.65 metres of 175 g/t gold and 249 g/t silver and recognition of visible gold in five drill holes. The alliance brings together Sables and Westhaven’s technical expertise and combined control of 86% of the Gold Belt (225,000ha). In accordance with an existing Confidentiality and Non-Disclosure Agreement between the two companies, any ground staked by Sable within 5-km of Westhaven’s existing projects will be subject to a 2.5% NSR. In addition Westhaven has a 30-day Right of First Refusal (ROFR) for a three-year period for any properties within this 5-km radius.
“Representing one of the largest single staking exercises in British Colombia, the acquisition of Spences Bridge is directly in line with our ongoing Upper Level Epithermal Strategy, acquiring ground and projects in world class jurisdictions in prospective terranes we believed to be underexplored,” commented Terry Harbort, Vice President of Corporate Development for Sable. “We have been monitoring the SBGB for some time waiting for the right moment to implement our strategy. Our alliance with Westhaven now gives us combined control of the vast majority of this highly prospective gold belt. As the Mexico Regional program moves in to Phase II (detailed sampling and mapping) and the San Juan Regional Program (Argentina) moves into Phase III (Drilling) the Spences Bridge Regional Program will rebuild our Phase I pipeline, ensuring that Sable shareholders have a robust exploration project portfolio for the foreseeable future.”
“We are very pleased to be partnering with Sable’s successful and experienced technical team,” stated Gareth Thomas, President & CEO of Westhaven. “We believe our recent results and operational experience in the SBGB combined with Sable’s epithermal and greenfields knowledge forms a strong alliance mutually beneficial to both companies.”
Westhaven owns a 100%-interest in four properties covering over 35,000 hectares within the prospective SBGB, which is situated within a geological setting like those which host other significant epithermal gold-silver systems. It is close to major transportation routes and infrastructure allowing for cost-effective exploration. The SBGB is a 110-km northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge Group.
Westhaven has been advancing its Shovelnose, Prospect Valley, Skoonka and Skoonka North gold projects in British Columbia.
In a new development, Westhaven Ventures released further results from its recently completed drill campaign at its 15,542-hectare Shovelnose gold property, located within the prospective Spences Bridge gold belt (SBGB), which borders the Coquihalla Highway 30 km south of Merritt, B.C.
Recent Highlights Include:
- SN18-14: 17.77 metres (m) of 24.50 g/t gold (Au) and 107.92 g/t silver (Ag), including 6.78 m of 50.76 g/t Au and 203.54 g/t Ag;
- SN18-12: 175.00 m of 0.65 g/t Au and 2.08 g/t Ag, including 4.00m of 11.82 g/t Au and 10.92 g/t Ag;
- 20-metre quartz vein encountered in hole SN18-15, assays pending;
- The strike length of the South Zone is 700 metres and open to southeast.
Gareth Thomas, President & CEO of Westhaven, stated, “We are pleased to report the widest high-grade drill intercept at Shovelnose, which consists of 17.77 m of 24.50 g/t Au and 107.92 g/t Ag, including 6.78 m of 50.76 g/t Au and 203.54 g/t Ag (hole SN18-14). It is important to highlight that hole SN18-14 is 300 metres to the southeast of hole SN18-12, which contains 1.65 m of 175.00 g/t Au and 249.55 g/t Ag, including 0.65 m of 285.00 g/t Au and 255.00 g/t Ag. Assays pending include hole SN18-15 which is 100 metres to the southeast of hole SN18-14 and contains visible gold. We are initiating a fully financed, follow-up drill campaign to begin in early November as we look to advance this important new discovery.”