VANCOUVER, BRITISH COLUMBIA--(Marketwired - Dec. 6, 2016) - Westhaven Ventures Inc. (TSX VENTURE:WHN) is pleased to report drill results from its 10,871 hectare Prospect Valley gold property, located on the Spences Bridge Gold Belt (SBGB) approximately 25 kilometres to the west of Merritt, B.C. The drill program consisted of 1,508 metres over 8 holes, highlighted by:
- PV16-04 intersected 0.70 g/t Au (Gold) and 5.71 g/t Ag (Silver) over 95.8 metres starting at bedrock surface including,
- 1.36 g/t Au and 10.43 g/t Ag over 38 metres and
- 2.23 g/t Au and 15.18 g/t Ag over 15 metres.
"Westhaven had a very productive field season in its first year working on Prospect Valley. The recently completed drill program intersected significant near surface gold mineralization and the prospecting and mapping programs found multiple high grade gold grab samples, expanding the area of immediate focus in all directions. These recent findings have reinforced management's belief in the Property's potential to host significant gold mineralization. Planning is already underway for what should be a very busy 2017." stated Gren Thomas, President and CEO.
The limited drill program focused on two areas. In the Discovery South Zone drilling targeted the western down dip extension of previously drilled near surface gold mineralization. In the Southeast Extension drilling targeted coincident gold-in-soil geochemical and shallow IP chargeability anomalies as well as a deep, stronger IP chargeability anomaly that extends north-south over a strike length of 900 metres.
Discovery South Zone
Holes PV16-01 to PV16-03 tested the western extension of gold mineralization in the Discovery South zone. PV16-02 intersected 0.57 g/t Au and 7.81 g/t Ag over 4 metres. PV16-01 intersected 1.07 g/t Au and 4.2 g/t Ag over 2 metres. PV16-03 intersected 0.37 g/t Au over 6 metres. Hole PV16-04, drilled to test the continuity of higher grade mineralization, intersected 0.70 g/t Au and 5.71 g/t Ag over 95.8 metres starting at bedrock, including 1.36 g/t Au and 10.43 g/t Ag over 38 metres and 2.23 g/t Au and 15.18 g/t Ag over 15 metres.
The Southeast Extension is the southward continuation of the mineralized Discovery Trend, laterally offset to the east by a series of cross-faults. Drilling, surface mapping and prospecting encountered altered (silica, sericite, pyrite, secondary potassium feldspar) volcanics, locally veined by quartz/chalcedony. The intense nature of bleaching and alteration at shallower depths, coupled with prominent mercury and antimony anomalies indicates the upper portions of a well-developed and potentially gold-bearing hydrothermal system. Quartz float discovered along the western flank of Southeast Extension, assaying 9.49 g/t Au, indicates a proximal source to gold mineralization here. Additional mapping and prospecting will be performed here to help outline additional mineralization.
Holes PV16-05 to PV16-08 were collared in the Southeast Extension. Although no significant gold assays were returned, gold pathfinder elements including As (arsenic), Sb (antimony), Hg (mercury) and Mo (molybdenum) were highly anomalous in numerous intersections, including 7.84 g/t Ag, 983 ppm As, 99 ppm Sb and 144 ppm Hg. These pathfinder elements are important vectors to gold mineralization at Prospect Valley. The deep chargeability anomaly was found to be due to an intense silica, potassium, and sericite alteration zone bounding large (up to 1 metre wide) cherty veins containing up to 50% sulphides composed mainly of pyrite and containing highly anomalous pathfinder elements. Please see below for a map of drill hole locations and mineralized zones or visit: http://westhavenventures.com/projects/prospect-valley-gold/details/
Planning has already begun for what will be an active 2017 at Prospect Valley. There are numerous gold-in-soil anomalies that have never been drill tested. Several other target areas delineated by anomalous results from prospecting, magnetic and/or stream sediment surveys remain to be evaluated.
Work is planned farther north along the Discovery Trend, where significant gold values were returned this season from surface sampling (up to 21 g/t Au from Discovery North, up to 7 g/t Au from Ridge). A second parallel structure (Northeast Zone) has been recognized, en-echelon to the Discovery Trend, which continues northeast for 2 kilometres. The Northeast Zone is known to host gold mineralization based on surface sampling of quartz veining (to 4.5 g/t Au), but has seen very little exploration over its 2-kilometre strike length. Gold-in-soil geochemical anomalies (to 450 ppb Au) coincide with the surface trace of this structure, adding to its potential.
The Spences Bridge Gold Belt (SBGB)
Westhaven owns a 100% interest in over 29,000 hectares within the prospective SBGB, which is situated within a geological and structural setting similar to other significant epithermal gold-silver systems. It is close to existing transportation and infrastructure allowing for cost-effective exploration. The SBGB is a 110-kilometre northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge group. Westhaven has been working on the SBGB since 2011 and believes these relatively underexplored volcanic rocks are highly prospective for epithermal style gold mineralization.
On behalf of the Board of Directors
WESTHAVEN VENTURES INC.
Gareth Thomas, Director
About Westhaven Ventures Inc.
Westhaven Ventures Inc. is a Canadian based exploration company focused on the acquisition and exploration of prospective resource properties. Westhaven is focused on advancing its Shovelnose and Prospect Valley gold projects in British Columbia. Westhaven trades on the TSX Venture Exchange under the ticker symbol WHN. For further information, please call 604-681-5558 or visit Westhaven's website at www.westhavenventures.com
Qualified Person Statement
L. John Peters, 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.
To view the drill hole location map, please visit the following link: http://media3.marketwire.com/docs/1079087e.pdf