Westhaven Gold posts exploration update and discovers new Vein Zone at Carmi target, Shovelnose property, British Columbia

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Westhaven Gold Corp. [TSXV-WHN] provided an exploration update on its road accessible, 17,623-hectare Shovelnose gold property, situated within the prospective Spences Bridge Gold Belt (SBGB), 30 km south of Merritt, British Columbia.

Following receipt of a 5-year, 650-hole drilling permit, Westhaven initiated a 4,000-metre drilling campaign at Shovelnose on March 20, 2024, focused on evaluating newly defined structural targets, primarily within and along the highly prospective, 4km long, Zone One Trend, host to the South Zone resource where a positive preliminary economic assessment (PEA) was announced on July 18, 2023.

The ongoing drill campaign is testing seven target areas, including Line 6 and Hydrothermal BX-02. The aim of this program is to both extend the zones of known mineralization and test prospective new targets identified from recent structural analysis and prospecting efforts.

Highlights from the ongoing exploration program include: Discovery of a new vein zone at Carmi (HydroBx05) drill target (assays pending), approximately 1km southwest of the South Zone. Prospecting led to a notable quartz, bedrock discovery (Certes Showing) ~6 km southeast of known mineralization and could be southeastern extension of the Zone One Trend. Grab sample assays pending.

Prospecting has led to another notable quartz, bedrock discovery (Agate Showing) ~2km to the south of the Zone One Trend where elevated pathfinder elements suggest these rocks are from the higher levels of an epithermal system.

Three out of 4 drill holes being reported intersected the targeted vein zones, intersecting anomalous gold and silver mineralization. The strike of the MIK zone remains open both to the north and south.

Gareth Thomas, President & CEO, stated, “Testing new structural targets within and outside of the main 4km Zone One Trend was the first objective to start the 2024 exploration program. The second objective was to continue to focus our efforts on property wide prospecting, sampling, and mapping to generate new zones of interest well outside of the main discovery and resource areas. Both objectives were successfully achieved through two new quartz-bedrock discoveries 2km and 6km away from the Zone One Trend, and the drill intersecting vein zones in all but one hole.”

Fraser MacCorquodale, Technical Advisor, stated, “In my prior position, we looked at roughly 300 gold prospects over the last 7 years. The Shovelnose was one of the few that stood out as you have the earmarking’s of a sizable, well mineralized system, including both wide veins and high grades within a very under explored district.” Mr. MacCorquodale served as the General Manager of Exploration at Newcrest Mining Limited from 2008 to 2023.

Work undertaken in 2024 is targeting the southeastern part of the property. Two previously unknown bedrock occurrences with significant volumes of quartz veining/brecciation have been discovered so far this season. One of the occurrences comprises outcrops and float scattered along a geophysical and topographical inferred structure with a strike length of over 1km and an apparent width of 100m – prospecting activities are ongoing in this area of interest.

These initial early season new bedrock discoveries are important because they support gold, silver and pathfinder anomalies identified in stream, soil, and rock samples, as well as banded colloform quartz veining in float (up to 0.52 g/t Au) that could not have come from known mineralization situated ~6km to the northwest. These areas could potentially be the southeastern extension of the Zone One Trend, or they could represent different epithermal systems.

Westhaven is reporting assays for 4 drill holes from its ongoing drill campaign. The company is currently on the 8th drill hole of the program. Of the 4 holes being reported, 3 successfully intersected the targeted vein zones.

Drillhole SN24-400 intersected vein zone 1 from 259m to 271m downhole. There were multiple intervals of anomalous gold mineralization higher in the hole potentially indicating this vein zone 1 intercept is deeper in the system. Drillhole SN24-401 intersected two weakly mineralized zones at the MIK zone target. Future drilling in the MIK will target this zone along strike. Drillhole SN24-402 intersected a newly recognized gold mineralized vein zone, the MIK West zone, from 173.8m to 183.4m downhole.

The drill is currently at the Carmi Target, located approximately 1km to the southwest of the South Zone. The target is coincident with a resistivity anomaly, striking northwest-southeast, and at least 800m in length. The drill will be moving to the Line 6 Target once the current hole is complete.

The presence of similar styles of mineralization at Line 6, might suggest the presence of a buried zone of mineralization similar to the main trend. The objective is to test the Line-6 target for a larger underlying epithermal system similar to the Zone One Trend.

Westhaven is advancing the high-grade discovery on the Shovelnose project in the Spences Bridge Gold Belt where it controls 37,000 hectares (370 km2) with four gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near power, rail, large producing mines, and within commuting distance from the city of Merritt.

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