UPDATE: Westhaven Drills 50.4 m of 0.54 g/t Au and 4.77 g/t Ag on Shovelnose Gold Property; Shares Jump 122% to New Yr High

By Midnight Trader,  January 09, 2013, 11:45:21 AM EDT

Westhaven Ventures Inc. (WHN.V) today reported drill results from its Shovelnose gold property, located within the prospective Spences Bridge Gold Belt (SBGB), approximately 30 km south of Merritt, British Columbia. The drill program consisted of 5 holes, totaling 778 metres (2,552 feet) of diamond drilling. Subsequently, the Company has staked an additional 1,272 hectares, bringing the total Shovelnose land package to 17,684 hectares (176.84 km²).

Highlights from the program include:

The 2012 drilling program has expanded low sulphidation gold mineralization at the Tower showing over a 220 metre east-west extent, including drill hole SN12-04 which intersected 50.4 metres grading 0.54 g/t Au (Gold) and 4.77 g/t Ag (Silver), which includes 13.7 metres grading 0.91 g/t Au and 6.65 g/t Ag. These gold values are within or peripheral to a zone of strong silicification which appears to be at least 120 metres wide. It occurs alongside a zone of brecciation and faulting, which lies beneath Tower Creek.

Westhaven, which was trading near a yr low this morning, has jumped 122% to a new yr high of 20 cents near midday on volume 4,000.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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