Advancements in Shovelnose Gold Project Exploration
Westhaven Gold Corp. (TSX-V: WHN) is excited to announce a dramatic leap in its exploration efforts at the Shovelnose Gold Project. This drilling program has outperformed expectations, marking a significant commitment from Westhaven towards uncovering valuable gold resources. Situated within the Spences Bridge Gold Belt, this project has seen substantial enhancements thanks to the recent work completed in the summer of 2025.
Drilling Program Highlights
During the recent summer drilling campaign, Westhaven completed 6,202 meters of drilling across 13 holes, a figure that significantly surpasses the initial plan of 3,000 meters. This aggressive approach affirms the company’s determination to uncover additional resources and validate its existing models.
Confirmation of South Zone Resource Model
The presence of epithermal mineralization in two drill holes through the South Zone has provided critical data supporting the resource model. This confirmation not only de-risks the Shovelnose Project but also boosts confidence in its ongoing development potential.
Exciting Exploration Model Validation
The results have additionally validated a newfound exploration model that suggests significant potential for discovering more epithermal gold systems in areas outside the principal zones. The structural complexity identified in the recent drilling indicates that the region may possess untapped gold reservoirs.
Economic Viability of Shovelnose Project
The Preliminary Economic Assessment completed in March 2025 indicates a promising 11-year high-margin underground mining outlook. Westhaven's projections estimate an after-tax net present value (NPV) of CAD$454 million with an internal rate of return (IRR) of 43.2% at a gold price of US$2,400 per ounce. This favorable economic landscape points to Shovelnose as a potentially lucrative investment opportunity.
Strategic and Regional Advantages
One of Shovelnose’s remarkable benefits is its strategic location. The project is just a short drive from Vancouver, providing easy access to infrastructure, which helps to reduce exploration and development costs—a huge advantage compared to more remote exploration sites.
Exploration Potential Along the SBGB
Westhaven has identified opportunities along the 100 km strike extent of the Spences Bridge Gold Belt. The summer program yielded over 1,800 stream silt, soil, and bedrock samples, providing a comprehensive geochemical overview that highlights promising targets for future exploration.
Technical Leadership and Strategic Direction
Westhaven’s leadership team has undergone refreshing updates that bring together industry expertise aimed at bolstering its exploration strategies. With seasoned professionals such as Ken Armstrong as CEO and Robin Hopkins as VP Exploration, the company is poised for systematic exploration and development of the Shovelnose region.
Continued Focus on Discovery
Ken Armstrong noted that the thorough drilling efforts reflect the company's commitment to unlocking new gold discoveries within the Shovelnose narrative. This continued systematic exploration is positioned to yield significant findings in the foreseeable future.
Future Mobilization and Development Plans
As interest in the Shovelnose Gold Project grows, Westhaven also prepares for integrated engineering studies that include environmental and cultural heritage components. These forward-looking efforts are essential for translating exploration successes into sustainable resource development.
Frequently Asked Questions
What is the Shovelnose Gold Project?
The Shovelnose Gold Project is a gold exploration and development endeavor located in the Spences Bridge Gold Belt, targeting high-grade epithermal gold mineralization.
What recent achievements has Westhaven reported?
Westhaven has completed 6,202 meters of drilling in 2025, confirming key resource models and exploring new areas of potential epithermal gold systems.
What are the economic projections for the project?
The Preliminary Economic Assessment indicates an after-tax NPV of CAD$454 million and an IRR of 43.2%, showcasing the project's financial viability.
Who leads the exploration efforts at Westhaven?
The technical leadership comprises experienced professionals like Ken Armstrong (CEO) and Robin Hopkins (VP Exploration), guiding exploration strategies.
What does Westhaven's future look like?
The company continues to prepare for development and integrated studies while systematically exploring for new gold discoveries at Shovelnose.
