Westhaven Ventures Inc.

Website: www.westhavenventures.com
Primary ticker: TSXV:WHN
Stage of development: Exploration
Primary minerals: Gold
Project to promote: Shovelnose Gold Project
Project location: Canada
Company video: click here

Live financials

Cash: CAD$3.8M
Debt: Nil

Major shareholders:
Insiders (Directors & Officers) – 32%
Plethora Precious Metals Fund – 15%
Friends & Family – 10%
Retail Investors – 43%
Management Ownership- 32%

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 that management believes has district-scale potential to host multimillion ounce high-grade gold deposits. 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.

Management Profile

Sean Thompson, Vice President Corporate Development & Investor Relations

Over 10 years of experience in the natural resources (metals & mining) industry. Recently acted as the Director Investor Relations for Atlantic Gold Corporation up until the acquisition of Atlantic by St Barbara Ltd. Responsible for managing the investor relations program at Atlantic from his appointment in 2016 to the closing of the transaction with St Barbara Ltd.
Prior to Atlantic, acted as the Investor Relations Manager for Kaminak Gold Corporation, up until the acquisition of Kaminak by Goldcorp.


What is your rationale for attending 121 Mining Investment?

Westhaven is significantly under owned by institutional investors, thus presenting an investment opportunity for those seeking exposure to a world-class high-grade gold discovery off a major highway in Canada. Classic low-sulphidation epithermal gold system similar to Fruta del Norte, Hishikari, and Kupol. Large lang package with numerous high-potential targets and a 30,000 metre drill program currently underway and funded.


What recent news would you like to highlight to investors attending?

Vancouver, B.C. – May 19th, 2020 – Westhaven Ventures Inc. (TSX-V:WHN) is pleased to announce that drilling has commenced 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.

2020 Drill Program

– The ongoing 30,000 metre (m) drill program has resumed.

– The focus of this program is to test new drill targets outside of the South Zone and expand on the recently encountered high-grade gold in the Lear Zone.

– Recent drilling at the Lear Zone intersected 10.56m of 3.67 g/t Gold (Au) and 10.40 g/t Silver (Ag), including: 3.13m of 7.20 g/t Au and 27.30 g/t Ag, and including: 0.79m of 15.85 g/t Au and 61.30 g/t Ag.

Gareth Thomas, President and CEO of Westhaven, stated: “The focus for this program is to test for additional vein zones outside of the South Zone. The recently completed winter drill program was successful in discovering a new mineralized zone (Lear Zone) where drill hole SN20-56 intercepted the highest-grade gold interval outside of the South Zone.”


What are your key goals for the next 3, 6 and 12 months?

3 Months:
Stepping out from the initial high-grade gold discovery “South Zone” area to drill test several high-priority exploration targets at the Shovelnose property. Expanding the technical / operational team as the company ramps up for a 30,000 metre + drill program.

6 Months:
Additional work is planned for this year across all four of Westhaven’s Spences Bridge Gold Belt properties, including a drill program at the 100%-owned Skoonka prospect where 12.80 metres of 20.20 g/t Au was previously intersected. Every hole drilled in 2019 provided valuable information which we believe will help us discover additional zones of gold mineralization at Shovelnose as well as on the other three properties.

12 Months:
Continuation of the 30,000 metre drill program at the Shovelnose property and 3,000 to 4,000 metre drill program at the Skoonka property. Identifying additional high-priority drill targets on all 4 properties along the Spences Bridge Gold Belt.


What do you see as the key risks and challenges facing your company at the moment and how are you overcoming these?

Negative perception towards natural resource project development. Westhaven has been involved with the local stakeholders (first nations groups) from day one. Not only being fully transparent with regards to the company plans and operations in the area but also by providing employment and training opportunities to local community members. Westhaven is committed to the highest standards of environmental and social responsibility with a focus on generating positive outcomes and returns to all stakeholders.


In a sentence, what do you think makes your company such a compelling investment?

Westhaven’s high-grade gold discovery off a major highway in Canada is a very rare and valuable asset. With a project portfolio of four gold properties across a new and emerging gold belt in Canada (Spences Bridge Gold Belt) and a share price of C$0.78 (market cap of C$76 million) the valuation and entry point is compelling. This discovery has world-class potential like other well known low sulphidation epithermal gold projects with $1 to $3 Billion valuations such as Fruta del Norte (Lundin Gold), Kupol (Kinross), Hishikari (Sumitomo), Las Chispas (SilverCrest). An active and ongoing 30,000 + metre drill program and lots of news flow will help demonstrate this potential going forward.

Analyst Insight – provided by Independent Investment Research

Westhaven Ventures is a TSX-V-listed gold exploration company that’s focused on British Columbia’s newest gold district, the highly prospective Spences Bridge Gold Belt (SBGB), where it is the largest claim holder. The SBGB is a 110km northwest-trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge group. These relatively underexplored volcanic rocks are highly prospective for epithermal style gold mineralization.

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 sq km) with four 100%-owned gold properties spread along this underexplored belt that management believes has district-scale potential to host multimillion ounce high-grade gold deposits. 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.

The 17,623 ha Shovelnose property is located near the southern end of the SBGB. The company has commenced its 2020 work program, with an ongoing 30,000 metre drilling program to test new drill targets outside of the South Zone and expand on the recently encountered high-grade gold in the Lear Zone. Recent drilling at the Lear Zone intersected 10.56m of 3.67 g/t Gold (Au) and 10.40 g/t Silver (Ag), including: 3.13m of 7.20 g/t Au and 27.30 g/t Ag, and including: 0.79m of 15.85 g/t Au and 61.30 g/t Ag.

The 10,871 hectare Prospect Valley (PV) Gold Property hosts a NI 43–101 compliant Mineral Resource estimate that has been calculated on two of the gold prospects – the North Discovery Zone and South Discovery Zone – which host a combined inferred mineral resource estimated at 166,000 ounces gold grading 0.511g/t gold in 10,077,000 metric tonnes above a cut–off grade of 0.30g/t gold.

The Skoonka Creek property is situated near the northern end of the SBGB and a number of epithermal gold prospects and showings have been discovered on the property.