Westhaven Provides Exploration and Drill Program Objectives for 2021

 

VANCOUVER, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to provide drill plans for 2021 at its 17,623-hectare Shovelnose gold property. Shovelnose is located within the prospective Spences Bridge Gold Belt (SBGB), which borders the Coquihalla Highway 30 kilometres south of Merritt, British Columbia.

Gareth Thomas, President & CEO of Westhaven Gold states: “Having closed the previously announced $15 million bought deal financing, plus having qualified for an additional $2 million Mining Exploration Tax Credit (METC¹), the Company is fully funded for 2021 and well into the 2022 season. Objectives for 2021 are to find more gold-silver zones on the Shovelnose property, complete a maiden resource at the South Zone, and extend the high-grade mineralization at the newly discovered FMN and Franz Zones.” Thomas goes on to add, “With the financing now complete we’ve requested the assay lab to release all finalized assays. We will release assays once received and interpreted.”

Plans for 2021:

• Drilling resumed on February 4^th, 2021 with the first drill focused on extending the gold-silver mineralization encountered at the newly discovered FMN zone. This drill will carry on trend towards the Franz Zone where 7.78 metres of 14.84 g/t gold and 39.40 g/t silver was encountered last fall.
• A second rig began drilling at the South Zone on February 18^th, 2021 and will initially focus on step-out and infill drilling at the South Zone.
• Complete a maiden resource at the South Zone.
• Approximately 40,000 metres of diamond drilling, the majority focused on exploration targets, including those generated from CSAMT and DC Resistivity surveys completed in 2020.
• A large regional exploration program will target features delineated by work performed in 2020 and prior years. Activities will include prospecting, mapping, stream sediment and soil sampling.
• Preliminary metallurgical test work has begun on the South Zone.

(1)

Westhaven benefits from the British Columbia Mining Exploration Tax Credit (METC), which is a permanent incentive to support investment in mining. The METC is a refundable British Columbia income tax credit for eligible individuals and corporations conducting grassroots mineral exploration in British Columbia and is worth 30 per cent of qualified mining exploration expenditures. Given Westhaven’s 2020 qualifying exploration expenditures, the Company has qualified and will file for a METC of $2,079,000 in 2021.

Qualified Person Statement

Peter Fischl, P.Geo., who is a Qualified Person within the context of National Instrument 43-101 has read and takes responsibility for this release.

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.

On behalf of the Board of Directors
WESTHAVEN GOLD CORP.

"Gareth Thomas"

Gareth Thomas, President, CEO & Director

About Westhaven Gold Corp.

Westhaven is a gold-focused exploration company advancing the high-grade discovery on the Shovelnose project in Canada’s newest gold district, the Spences Bridge Gold Belt. Westhaven controls 37,000 hectares (370 square kilometres) with four 100% owned gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, in close proximity to power, rail, large producing mines, and within commuting distance from the city of Merritt, which translates into low-cost exploration. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-336-6921 or visit Westhaven’s website at www.westhavengold.com

Photos accompanying this announcement are available at

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