| Announcement Date: | 2023-07-18 |
|---|---|
| Announcement Type: | PEA |
| Announcement Code: | NI43-101 |
| Company name: | Westhaven Gold Corp. |
| Project name: | Shovelnose |
| Location: | Canada |
| Commodities: | Gold,Silver |
| Highlight: | PEA result incl. Post Tax NPV (6%) of USD $268.4M & IRR of 37.2% |
| Resources: | only available to subscribers |
| CP/QP: | only available to subscribers |
| Announcement summary: | Vancouver, B.C. – July 18th, 2023 – Westhaven Gold Corp. (TSX-V:WHN) is pleased to report the completion of a Preliminary Economic Assessment (“PEA”) at its 100% owned 17,623-hectare Shovelnose Gold Property *the “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, comments: “Westhaven’s flagship Shovelnose Gold Property is located in close proximity to a highway and near the city of Merritt, BC in a tier 1 mining jurisdiction. This PEA focuses on the South Zone, discovered in late 2018 and with an initial Mineral Resource Estimate first reported in 2022. In addition to high grades, the South Zone benefits from wide, steeply dipping mineralized vein domains which contribute to a robust, low-cost (AISC US$752 / oz AuEq), high margin mining opportunity. Results from this PEA certainly underpin a significant property value with serious economic benefits and provide an excellent cornerstone from which to build upon. Westhaven’s continued focus is on exploration and expanding the gold-silver mineral inventory outside the South Zone. Multiple, notable discoveries have been made on this large (176 sq. km.) underexplored property since the initial South Zone discovery, all of which are outside the area assessed in the current PEA. With a fully funded drill program underway, management expects to be able to significantly increase the Property’s Mineral Resource base as we drill off the newer discoveries and test additional outside targets.” |
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