Impact: Positive
Westhaven announced additional assays from the ongoing drilling program at its 100%-owned Shovelnose gold property in British Columbia. The latest results continue to demonstrate that the FMN Zone contains both bulk tonnage and high-grade Au-Ag mineralization, and the Alpine Zone’s open pit potential. We continue to believe that the delivery of a +1M oz Au resource at the South Zone earlier this year was only the beginning of what could eventually become a multi million-ounce gold camp. As additional drilling is completed at the FMN and Alpine zones, we believe the results should be included in the planned resource update (Q1/23). Our base and upper-case scenarios, which incorporate additional depth potential and strike extensions of known vein zones, support mineral inventory estimates of 2.1M oz AuEq and 6.8M oz AuEq, respectively.
