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Westhaven Drills Gold Bearing Quartz Vein at the Certes Target; Reports Final Drill Results from the 2024 Drilling Campaign at Shovelnose

News Provided by GlobeNewswire2024-12-12

VANCOUVER, British Columbia, Dec. 12, 2024 (GLOBE NEWSWIRE) -- Westhaven Gold Corp. (TSX-V:WHN) is pleased to announce final drill results from the Certes target and to provide a summary of all 2024 exploration activities at the 41,634 hectare Shovelnose gold property, situated within the prospective Spences Bridge Gold Belt (SBGB), 30 kilometres south of Merritt, British Columbia.

It has been a full and productive exploration season at Shovelnose, with efforts focused on a range of activities including property wide prospecting, sampling, geophysical surveying and drilling as the Company has worked to understand the full potential of the Shovelnose corridor, which is host to the high grade South Zone deposit (see Preliminary Economic Assessment July 18, 2023) and several other prospective zones of mineralization including the newly established Certes target, situated 11km to the southeast.

Gareth Thomas, President & CEO, states: “Initial drill testing at Certes has validated a new epithermal target that remains open in all directions. We are very encouraged by what we are seeing in terms of pathfinder elements that are representative of the typical epithermal model. Intersecting an anomalous gold bearing quartz vein on our last hole of the 2024 exploration season on a new regional target several kilometres from our original high-grade gold discovery area gives confidence to our thesis that this Certes target area may represent the continuation of an 11km structure extending southeast from the main Vein Zone One trend (Franz-FMN-South Zone). Follow-up drilling will resume early in 2025 targeting a preserved system at depth.” Thomas goes on to add, “We eagerly await the results of the recently completed Induced Polarization and detailed magnetic surveys at Certes and the recently discovered Corral target to the South.”

Peter Fischl, Exploration Manager, states: “Exploration at the southeast end of the 11km long corridor of mineralization and anomalous geochemistry that includes the Certes target has uncovered a well-preserved epithermal system, now confirmed in the pathfinder geochemistry and TerraSpec (SWIR) analytical work. Six holes drilled at Certes along three fences spaced over a 2km strike length tested the upper 200m thick mercury-antimony bearing cap to this preserved epithermal system. The transition from high-level pathfinders such as mercury and antimony to deeper gold-associated pathfinders such as arsenic is observed in several of these holes, including the last hole drilled at Certes, hole SN24-425, located 10km southeast of the bonanza-bearing South Zone. This hole intersected a carbonate healed breccia vein at 237.4-245.0m depth that returned 124.8 ppm arsenic over 9.0m. Anomalous gold is present farther downhole as well, where a sphalerite bearing quartz vein and associated fault returned 0.69 g/t Au and 2.76 g/t Ag over 1.74m at 286.9-288.64m downhole. Deeper follow-up drilling is planned to test the downdip extent of these arsenic and gold bearing structures for stronger gold mineralization.”

Highlights of the Certes Drill Program Include:

Certes drill hole SN24-425: Intersected 0.69 g/t Au, 2.76 g/t Ag, and 5% Zinc over 1.74m at 286.9-288.64m downhole.
anomalous gold pathfinder elements encountered in all 6 of the drill holes
confirmation of a potentially preserved epithermal system previously mapped at surface and now extending over 2.1km of strike length and to depth
a broad zone (258-314m downhole in SN24-425) of carbonate +/- quartz veining cored by 1.0m of quartz containing 10-15% low iron "honey " sphalerite within a sulphidic vein envelope that suggests a possible intermediate sulphidation epithermal signature
new drilling supports the interpretation of a long-lived property scale structure, potentially host to multiple gold bearing epithermal systems and opens up 10km of underexplored strike length for further exploration

Details of the Certes Drill Program Include:

Certes 1 Target

two holes (SN24-420 and 421) with 150m separating the collars and testing surface boulders of banded mercury bearing chalcedony sinter/silica cap
brecciation, alteration, cm scale quartz +/- carbonate veinlets and anomalous epithermal pathfinder elements intersected in both holes suggests the presence of a "high level " mercury-venting geothermal plume immediately to the northeast
follow-up work would include an undercut to SN24-420 which may have been terminated too early to intersect the mineralized portion of this geothermal system

Certes 2 Target

two holes (SN24-422 and 423) 1.2km southeast of Certes 1 with 440m separating the collars
zones of quartz-carbonate veining and anomalous epithermal pathfinder elements intersected in both holes providing a broad intervening target area for future drilling
follow-up work would initially prioritize the stronger vein zone in hole SN24-422, testing the zone downdip and along strike to the northwest, towards the Certes 1 profile

Certes 3 Target

two holes (SN24-424 and 425) 0.9km southeast of Certes 2 with 150m separating the collars
elevated pathfinders in the upper part of SN24-424 and a zone of 1-2% quartz-carbonate veins near the end of the hole (289.8-298m). SN24-425: Intersected 0.69 g/t Au, 2.76 g/t Ag, and 5% Zinc over 1.74m at 286.9-288.64m downhole
SN24-425 intersected a 6.6m carbonate healed breccia vein at 238.4m and a zone of carbonate+/-quartz veining 258.8-320m - cored by 1m of quartz at 287m with 10-15% low iron “honey” sphalerite, accompanied by chalcopyrite in the adjacent wall rock
short wave infrared spectroscopy identified high illite and chlorite crystallinities, suggesting this structure may be the focus of significant geothermal upflow
follow-up would target the down-dip extent of veining looking for an underlying gold mineralized paleodepth horizon as seen in the Franz-FMN-South Zone trend

2024 Exploration Activities at Shovelnose to Date Include:

prospecting, mapping and sampling within 40 specific areas of interest
completion of 27 drill holes representing ~8,347m (3,423 samples)
- most 2024 holes situated off trend from the main Franz-FMN-South zone structure
- mineralization intersected proximal to this structure (e.g. Line 6, Mik, Carmi, HydBx-02) demonstrates the multiple vein zones expected in typical epithermal systems
- six holes at the Certes target confirmed surface results, and open multiple new areas for exploration
collection of over 2,200 surface rock samples including from within the recently expanded landholdings, identified
- new areas with gold and/or silver values in surface rock outcrops (previously only Line 6 and Mik showed clustered gold values in outcrop), and
- pathfinder element halos typical of different erosional levels in epithermal systems that will require more work
follow-up on 49 historical gold-in-soil anomalies
- preliminary results have confirmed the presence of gold at multiple repeatable sites
- drill hole SN24-415 tested a similar soil anomaly, intersecting disseminated gold from the bedrock surface to 122m downhole (averaging 0.11g/t Au), including 0.53 g/t Au over 8.0m (52-60m) and 0.74 g/t Au over 3.0m (86-89m)
collected 47 follow-up stream sediment samples on expanded Shovelnose claims to replicate, calibrate and refine gold anomalies identified from work by previous operators
“TerraSpec” (short wave infrared spectroscopy) work still ongoing on rock and drill core
- signatures of specific clay types can provide target vectoring similar to what guided the initial South Zone discovery in 2018
21.6 km of detailed ground magnetic data at Certes 1 and 33 km at Certes 2 + 3
- subsurface mapping, identification of structural breaks and geological correlation
15.5 line kilometers of Induced Polarization (IP) data at Certes 1, 2 and 3
- deep seated ‘major’ structures
airborne LiDAR survey and photography on expanded claims (~250 km2 of coverage)
- outcrop and structural interpretation, mapping, access and vegetation/reflection targeting

For a table of 2024 drill results available to date please click here:
https://www.westhavengold.com/_resources/shovelnose/Shovelnose-Drilling-Assay-Summary-2024.pdf

For reference, see also the Plan Map of Recent Drilling below.

Investor and Analyst Webinar:

Westhaven Gold will be hosting a live webinar to discuss all 2024 exploration and drill results on Thursday, December 12^th at 11am PST (2pm EST). There will be a live Q&A session with management at the end of the webinar. Please register for the webinar here:

https://us06web.zoom.us/webinar/register/2217325566878/WN_hkyiDv3xQnSZ_ptWCKRdIQ

On behalf of the Board of Directors
WESTHAVEN GOLD CORP.

"Gareth Thomas”

Gareth Thomas, President, CEO & Director

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.

Sampling, Laboratory Analyses and Quality Assurance/Quality Control (QA/QC)

Most core samples consist of halved drill core cut by manual sawing. In rare cases, and where required by physical core conditions, manual splitting may be used. Half of the core is retained in the original core box for reference samples and any required future work, including QA/QC. Core samples, controlled by a unique bar coded reference number, are delivered to ALS’s Kamloops facility and prepared using the PREP-31 package. Each core sample is crushed to better than 70% passing a 2mm (Tyler 9 mesh, US Std. No.10) screen. A split of 250g is taken and pulverized to better than 85% passing a 75-micron (Tyler 200 mesh, US Std. No. 200) screen. Further analytical and assay procedures are conducted in ALS’s North Vancouver facility. A 0.75g subsample of the pulverized split is subjected to four acid digestion and analyzed via ICP-MS (method code ME-MS61m (+Hg)) which reports a suite of 49 elements. All samples are also analyzed for gold by fire assay with an AES finish, method code Au-ICP21 (30g sample size). Samples returning gold values over 10ppm are subjected to ore grade check assays using fire assay and a gravimetric finish (method code Au-GRA21 and a 30g sample size). Other overlimit elements may also be subjected to ore grade analyses which vary depending on the element of interest. QA/QC includes the laboratory’s internal quality assurance controls as well as field controls, including the insertion of quarter core duplicates, certified reference materials and blanks, each at a rate of roughly one per 20-25 core samples. Additional blanks are inserted following samples with visible gold or significant concentrations of ginguro (fine grained bands of dark gray to black sulphides). QA/QC data are evaluated on receipt for failures, and appropriate action is taken if results for duplicates, standards and blanks fall outside allowed tolerances. Westhaven’s ongoing Quality Assurance and Quality Control programs are consistent with industry best practices and include auditing of all exploration data. Any significant changes will be reported when available.

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.

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 61,512 hectares (615 square kilometres) with four gold properties spread along this underexplored belt. The Shovelnose property is situated off a major highway, near 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 604-681-5558 or visit Westhaven’s website atwww.westhavengold.com

Forward-Looking Statements

This news release contains "forward-looking statements " within the meaning of applicable securities legislation. These forward-looking statements are made as of the date of this news release and Westhaven does not intend, and does not assume any obligation, to update these forward-looking statements, except as required by law. Forward-looking statements in this news release may include, but are not limited to, the interpretation of preliminary results from exploration undertaken to date at Shovelnose using various exploration techniques and analysis; statements with respect to potential styles of epithermal mineralization at the Shovelnose Project; the possibility that the Company’s Shovelnose project may host multiple gold bearing epithermal systems; and, the potential for an intermediate sulphidation epithermal signature at the Certes target. In certain cases, forward-looking statements can be identified by the use of words such as "plans ", "expects " or "does not expect ", "is expected ", "budget ", "scheduled ", "estimates ", "forecasts ", "intends ", "anticipates " or "does not anticipate ", or "believes ", or variations of such words and phrases or state that certain actions, events or results "may ", "could ", "would ", "might " or "will be taken ", "occur " or "be achieved ". However, forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Westhaven’s property interests are in the exploration stages only, are without known bodies of commercial mineralization and have no ongoing mining operations. Mineral exploration involves a high degree of risk and few properties, which are explored, are ultimately developed into producing mines. Exploration of the Company’s mineral properties may not result in any discoveries of commercial bodies of mineralization. If the Company’s efforts do not result in any discovery of commercial mineralization, the Company will be forced to look for other exploration projects or cease operation. Factors that could cause future results to differ materially from those anticipated in these forward-looking statements include the risk that the Company will encounter unanticipated geological factors, risks associated with the interpretation of exploration, drilling and assay results, the possibility that the Company may not be able to secure permits and other governmental clearances necessary to carry out the Company 's exploration plans, the risk that the Company will not be able to raise sufficient funds to carry out its business plans, and the risk of political uncertainties and regulatory or legal changes that might interfere with the Company 's business and prospects. Although the Company has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements.

Plan Map of Recent Drilling

Plan Map of Recent Drilling