August 29, 2024
Westhaven Gold Corp. (TSXV:WHN, BUY, C$1.30 target, Taylor Combaluzier) provided exploration updates for its 100%-owned Shovelnose and Prospect Valley projects in British Columbia. At Shovelnose, a H2/24 diamond drill campaign (~4,000m) is underway that is planned to focus on seven target areas (Line 6 North, Line 6-MIK, CSAMT-3, Romeo, and three target areas at Certes). The company also reported assays for 10 holes drilled earlier this year at Shovelnose, all of which, except one, returned no significant values – one hole at Line 6 returned a short interval of anomalous Au and Ag mineralization (read more). At Prospect Valley, field work is underway with work already identifying several zones of quartz veinlets (assays pending). Results were reported for initial property scale silt sampling (14 of 53 samples returned +100ppb Au to a maximum of 985ppb Au). Additionally, a float sample returned 1,170ppm tungsten and >10,000ppm Mo – potentially indicating a new style of mineralization. A drill permit is also pending for the Bonanza target, where a quartz vein and quartz breccia float returned assays up to 43.34 g/t Au in 2023. Due to wildfires the company stated that it had postponed its work at Skoonka and Skoonka North. Read more
Company Specific Disclosure Details
Westhaven Gold Corp. – TSXV:WHN – 3
- The analyst has visited the head/principal office of the issuer or has viewed its material operations.
- The issuer paid for or reimbursed the analyst for a portion, or all of the travel expense associated with a visit.
- In the last 12 months preceding the date of issuance of the research report or recommendation, Red Cloud Securities Inc. has performed investment banking services for the issuer.
- In the last 12 months, a partner, director or officer of Red Cloud Securities Inc., or an analyst involved in the preparation of the research report has provided services other than in the normal course investment advisory or trade execution services to the issuer for remuneration.
- An analyst who prepared or participated in the preparation of this research report has an ownership position (long or short) in, or discretion or control over an account holding, the issuer’s securities, directly or indirectly.
- Red Cloud Securities Inc. and its affiliates collectively beneficially own 1% or more of a class of the issuer’s equity securities.
- A partner, director, officer, employee or agent of Red Cloud Securities Inc. serves as a partner, director, officer or employee of (or in an equivalent advisory capacity to) the issuer.
- Red Cloud Securities Inc. is a market maker in the equity of the issuer.
- There are material conflicts of interest with Red Cloud Securities Inc. or the analyst who prepared or participated in the preparation of the research report, and the issuer.
Analysts are compensated through a combined base salary and bonus payout system. The bonus payout is determined by revenues generated from various departments including Investment Banking, based on a system that includes the following criteria: reports generated, timeliness, performance of recommendations, knowledge of industry, quality of research and client feedback. Analysts are not directly compensated for specific Investment Banking transactions.
