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Drilling Returns High Grades at British Columbia Gold-Silver Property

July 21, 2021 (Investorideas.com Newswire) Westhaven Gold’s recent drill results and exploration work planned for H2/21 at Shovelnose are outlined in a Red Cloud Securities report.

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In a July 8 research note, Red Cloud Securities analyst Taylor Combaluzier reported that Westhaven Gold Corp.’s (WHN:TSX.V) recently released drill results of five holes from Shovelnose’s South Zone returned “intercepts of significant grades and widths.”

These are demonstrated in highlights from four of the five holes, which Combaluzier reviewed. The gold grades in those ranged from 2.48 to 8.53 grams per ton (2.48-8.53 g/t), and silver grades from 11.30 to 17.69 g/t. Widths were as broad as 76.33 meters (76.33m).

Specifically, hole SNR21-07 showed 4.47 g/t gold (Au) and 17.69 g/t silver (Ag) over 41.25m. SNR21-06 demonstrated 8.53 g/t Au and 14.14 g/t Ag over 4.77m from Vein 1. SNR21-05 returned 2.93 g/t Au and 11.30 g/t Ag over 76.33m. SNR21-08 showed 2.48 g/t Au and 14.25 g/t Ag over 26.6m from Vein 2.

“The intercept from SNR21-05 results in an impressive gram meter value of ~224 g/t*m,” Combaluzier wrote.

“We are encouraged to see that Westhaven continues to enhance its understanding of the controls on the best mineralization at Shovelnose as drilling continues to return intercepts of significant grades and widths. In our view, continued positive results from the South Zone should bode well for the maiden resource (Q4/21),” the analyst wrote.

Looking forward, the analyst noted that Westhaven is adding a third rig to drill test the exploration targets. The first will be Target 3, defined via the geophysical survey, about 800m to the east of the South Zone. (The survey identified two additional targets.)

“Westhaven has only explored a small portion of the overall property, so there is lots of discovery potential remaining,” Combaluzier wrote.

Westhaven’s work planned for the rest of 2021, noted Combaluzier, includes continuing its 40,000-meter drill program, conducting metallurgical work for the South Zone’s Veins 1, 2 and 3 in Q3/21 and preparing a maiden estimate of the South Zone resource in Q4/21.

Red Cloud has not yet formally valued Westhaven. “The company currently trades at a discount to peers on an EV basis at $63M (peers at $92M). We believe there is significant potential for the stock to re-rate with ongoing positive drill results and a maiden resource,” Combaluzier wrote. Westhaven’s shares are currently trading at about CA$0.57.

Disclosure:

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Westhaven Gold. Click here for important disclosures about sponsor fees.

3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Westhaven Gold, a company mentioned in this article.

Disclosures from Red Cloud Securities, Westhaven Gold Corp., Exploration Update, July 8, 2021

Part of Red Cloud Securities Inc.’s business is to connect mining companies with suitable investors. Red Cloud Securities Inc., its affiliates and their respective officers, directors, representatives, researchers and members of their families may hold positions in the companies mentioned in this document and may buy and/or sell their securities. Additionally, Red Cloud Securities Inc. may have provided in the past, and may provide in the future, certain advisory or corporate finance services and receive financial and other incentives from issuers as consideration for the provision of such services.

Company Specific Disclosure Details: None

Analyst Certification

Any Red Cloud Securities Inc. Analyst named on the report hereby certifies that the recommendations and/or opinions expressed herein accurately reflect such research analyst’s personal views about the companies and securities that are the subject of this report. In addition, no part of any research analyst’s compensation is, or will be, directly or indirectly, related to the specific recommendations or views expressed by such research analyst in this report.

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