Westhaven Ventures Inc.

Published : January 31st, 2012

Westhaven Reports Results From Initial Drill Program At Shovelnose

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Keywords :   Antimony | Debt | Diamond | Gold | Mercury | Molybdenum | Silica | Silver |


January 31, 2012

Vancouver, B.C. � January 31, 2012 � Westhaven Ventures Inc. (WHN-TSX:V) reports drill results from its initial drill program on its Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 km south of Merritt, British Columbia. The drill program was the first ever conducted on the 16,412 ha property and it consisted of 7 holes, totaling 606 metres (1,988 feet) of Diamond drilling on untested targets. Highlights from the program include:

  • Gold mineralization was encountered in all seven of the drill holes;
  • Drilling at the Mik and Line 6 showings confirm that gold bearing quartz veins previously mapped at surface can be traced to depth;
  • At the Tower Zone, a broad, 56 metre interval of pyrite and silica alteration occurs within the same silica altered felsic tuff unit that hosts the gold-bearing quartz veins at Mik and Line 6. This alteration zone is gold bearing and is interpreted as evidence of a significant mineralized alteration system within the property;
  • The Tower Creek valley, a prominent structural feature located between the Tower and Mik zones has been identified as a priority target for further evaluation.

David Gale, Strongbow�s VP, Exploration, stated, �We are pleased with the results from this first ever drilling program on the Shovelnose property. Exploration is still at a very early stage, however the drilling has confirmed the widespread occurrence of gold on the property and, perhaps more importantly, a significant alteration zone that could indicate the presence of a large gold bearing system.�

Three drill holes, ranging in depth from 80 to 105 metres, tested the Mik zone where all three holes returned locally anomalous gold values. Drill hole 11SH-003, which intersected 1.2 g/t Au over 4.1 metres, starting at 34 m down hole, including a 1.5 metre interval that returned 3.0 g/t Au. This interval was encountered 35 metres down dip to the west of a surface trench that returned up to 38.2 g/t Au. This vein system is open to the north and south, as well down dip to the west.

A single drill hole tested the Tower zone, an area approximately 400 metres northeast of Mik. Drill Hole 11SH-007 intersected 0.21 g/t Au over 55.8 metres starting from surface. This broad zone of elevated gold represents a new style of mineralization not observed at the Mik and Line 6 zones. Dark grey silica with finely disseminated pyrite occurs in veins and breccias within the volcanic crystal lithic tuffs. More importantly, this alteration zone is associated with elevated arsenic, molybdenum, antimony and mercury, all which are characteristic pathfinder elements associated with epithermal gold systems. Tower zone is unconstrained and represents a priority target for further evaluation.

Three shallow drill holes also tested a portion of the Line 6 target where previous trenching of this area returned encouraging mineralized intervals, including 20 m grading 0.8 g/t gold, 16.0 m grading 1.4 g/t Au, and 6.0 m grading 5.1 g/t Au. All three drill holes returned anomalous gold values associated with thin epithermal style quartz veining within a crystal lithic tuff unit. Drill hole 11SH-004, testing below a mechanized trench which returned 20 metres grading 0.80 g/t Au, returned 25.63 metres grading 0.32 g/t Au starting at 6.9 m downhole.

The Mik and Tower showings are located on the west and east sides, respectively, of the north trending Tower Creek valley which has been interpreted to host a fault structure based on airborne magnetic data. Detailed soil sampling along this valley has defined a 1400 m long zone of elevated gold, arsenic, mercury, antimony and molybdenum. Prospecting conducted during the 2011 program uncovered a heavily veined, pyrite flooded siliceous rock that returned 6.8 g/t Au. This sample was located 300 metres south of a previously reported rock sample that returned 119.0 g/t Au and 271 g/t Ag. These two samples help to define the southern extent of mineralization within the Tower Creek valley. Elsewhere on the property, new soil sampling to the southeast of the Tower Creek valley returned values from detection to 1.6 g/t Au.

Follow Up Program

Planning is underway for a 2012 exploration program intended to further evaluate both of these target areas, as well as a number of regional targets within the property that have been identified based on gold and associated arsenic, antimony and mercury values. The 2012 exploration program is anticipated to include an induced polarization ground geophysical survey along the Tower Creek valley, as well as further Diamond drilling.

Shovelnose Gold Property Overview

The 16,412 ha Shovelnose gold property is a Au-Ag epithermal-style exploration target that covers prospective stratigraphy in the southern Spences Bridge Gold Belt (SBGB), a 110 km northwest-trending belt of felsic to intermediate volcanic rocks of the Cretaceous Spences Bridge group. Surface grab samples have returned values as high as 119.37 g/t gold (Au) and 271 g/t silver (Ag).

Westhaven is currently working to earn up to a 70% interest in the property from Strongbow Exploration Inc., a TSX-V listed company. Please refer to the Company�s Filing Statement dated June 27, 2011 for further information about the Company, the Qualifying Transaction and the Shovelnose property. A copy of the Filing Statement is available under the Company�s profile at www.sedar.com

On behalf of the Board of Directors

"Gareth Thomas"

Gareth Thomas, Director

About Westhaven Ventures Inc.

Westhaven Ventures Inc. is a resource focused exploration and development company that intends to generate shareholder value through its experience and analysis in the identification, acquisition and development of high caliber resource properties. Westhaven is advancing its Shovelnose gold project in British Columbia and reviewing several potential acquisitions. The Company has no debt and is well financed. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN.

For further information, please contact Gareth Thomas at 604-681-5558 or visit Westhaven�s website at www.westhavenventures.com

Qualified Person Statement

Work on the Shovelnose property is supervised by Kristopher J. Raffle, P.Geo (BC) Senior Geologist for APEX Geoscience Ltd. of Edmonton, AB, who is the qualified person for the project as defined by National Instrument 43-101. Mr. Raffle has reviewed the portion of the technical content of this news release as it relates to the Shovelnose property. During 2011, all drill core samples were submitted to AGAT Laboratories, Mississauga, Ontario for multi-element ICP-MS and gold Fire Assay analysis. The ICP-MS analysis provided results for 51 elements using a 1.0 gram sample split and aqua regia digestion. For fire assay analysis, samples were crushed and pulverized to produce a pulp and a 30 gram sample split was mixed with flux to produce a dore bead. The bead was digested in acids and the solution analyzed by an Atomic Absorption Spectrometer. A quality assurance/quality control (QA/QC) program is in place, with the insertion of standard, blank and duplicate samples into the sample stream to confirm the accuracy of the reported results.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Westhaven Ventures Inc.

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Westhaven Ventures is a gold exploration company based in Canada.

Its main exploration property is SHOVELNOSE in Canada.

Westhaven Ventures is listed in Canada. Its market capitalisation is CA$ 11.3 millions as of today (US$ 9.0 millions, € 7.9 millions).

Its stock quote reached its lowest recent point on January 29, 2016 at CA$ 0.04, and its highest recent level on January 04, 2019 at CA$ 1.41.

Westhaven Ventures has 52 410 000 shares outstanding.

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Financings of Westhaven Ventures Inc.
10/21/2013Westhaven Announces Non-Brokered Private Placement
6/7/2013Westhaven Closes Private Placement
5/16/2013$200,000 Non-Brokered Private Placement Fully Subscribed
10/9/2012Announces Non-Brokered Private Placement
Project news of Westhaven Ventures Inc.
10/22/2013Commences Inaugural Drill Program on its Ben Gold Property
9/17/2013Corporate Update: Westhaven To Drill The Ben Gold Property
6/26/2013(Shovelnose)Completes First Phase Of Drilling On Its Shovelnose Gold Pro...
6/3/2013(Shovelnose)Commences Drilling On Its Shovelnose Gold Property
11/13/2012(Shovelnose)Commences Drilling On Its Shovelnose Gold Project
7/24/2012Completes Initial Work Program On Its Ben Gold Property And ...
5/29/2012Commences Work On Its Ben Gold Property
2/28/2012Westhaven To Acquire 100% Of B.C. Gold Exploration Property
10/13/2011(Shovelnose)Commences Drilling On Its Shovelnose Gold Property
Corporate news of Westhaven Ventures Inc.
5/2/2016(Shovelnose)Westhaven To Drill Shovelnose And Prospect Valley Gold Prope...
11/13/2013(Shovelnose)Provides Exploration Update; Assays 16 G/T Gold in Grab Samp...
8/20/2013Shareholders Approve All Motions Put Forth at AGM
7/30/2013(Shovelnose)Expands Zone of Gold-Silver Mineralization on its Shovelnose...
4/3/2013(Shovelnose)Corporate Update: Westhaven To Drill Shovelnose And Ben Gold...
1/9/2013(Shovelnose)Drills 50.4 m of 0.54 g/t Au and 4.77 g/t Ag on its Shovelno...
1/31/2012(Shovelnose)Westhaven Reports Results From Initial Drill Program At Shov...
1/11/2012(Shovelnose)Westhaven Stakes Additional Claims At Shovelnose
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