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GoldHaven Resources Corp.
GoldHaven Resources Corp.
Registriert in: Kanada WKN: A2P8B6 Rohstoffe:
Art: Originalaktie ISIN: CA38149V1031 Gold
Heimatbörse: CSE Alternativ: GHVNF
Währung: CAD    
Symbol: GOH.CSE Forum:

GoldHaven Samples up to 605 g/t Silver at Pat's Pond and Prepares for 2022 Exploration Program

17.03.2022 | 12:00 Uhr | Newsfile

Vancouver, March 17, 2022 - GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") provides results from the 2021 exploration campaign on its Pat's Pond and O'Neill project areas in the Central Newfoundland Gold Belt (CNGB) (Fig. 1). A total of sixty-eight grab samples were collected from Pat's Pond (41 samples; 9,700 hectare) and O'Neill (27 samples; 13,145.5 hectare). These projects are road accessible, and both are prospective for precious metal-rich volcanogenic massive sulphide mineralization and mesothermal gold.

Figure 1. Location of GoldHaven projects

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Justin Canivet, GoldHaven's CEO, stated: "We are very encouraged by the results of the 2021 Phase I exploration program at Pat's Pond and O'Neill in Newfoundland. These results substantiate the data from previous exploration programs and validate GoldHaven's reasons for picking up the properties - particularly Pat's Pond where we continue to see high grade mineralization in both boulder samples and outcrops. Clearly these results merit further, extensive exploration."

Pat's Pond Property

GoldHaven's exploration team field-evaluated ground within and adjacent to known showings including the Canoe Pond showing in the northeast part of the property, the Horn-Mesher, Pat's Pond 1 and Pat's Pond 2 showings in the southeast part of the property (Fig. 2; for a complete table of rock sample assays please visit GoldHaven's Website: https://goldhavenresources.com/canada/pats-pond/).

  • Gold values ranged from below detection to 5.53 g/t, with four samples having 50 ppb (0.05 g/t) or more.
  • Silver varied from below detection to 605 g/t, with fourteen samples having greater than 10 g/t.
  • Lead ranged up to 9.70% (minimum 6 ppm; eleven samples greater than 500 ppm).
  • Zinc had a high value of 5.05% (minimum 8 ppm; fourteen samples greater than 500 ppm).
  • Copper values ranged as high as 0.69% (minimum of 9 ppm), and eight samples above 500 ppm. One sample returned the highest antimony value of the campaign with 3.22% Sb (minimum below detection).
  • Numerous encouraging values were reported from the southeast of the property which were consistently anomalous in silver, zinc, lead and to a lesser extent gold and copper.

Figure 2. Geology and Mineral Occurrences of the Pat's Pond Property

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The highest-grade sample from Pat's Pond returned 5.5 g/t Au, 9.7% Pb, 5.05% Zn and 3.22% antimony from a boulder. Historically, many high-grade samples in this area have come from boulders, however with this campaign, GoldHaven's team collected a larger proportion of anomalous samples from outcrops. These new results validate historical data, confirm GoldHaven's belief in the metal endowment of the property and warrant additional exploration expenditures.

O'Neill Property

GoldHaven's exploration team examined three areas on the O'Neill property: the Muddy Hole occurrence in the northeast part of the property; an area in the central part of the property containing pegmatite dikes which may have potential for lithium; and the Weir's Pond mineral occurrence. A total of 27 grab samples were collected for assay (for a complete table of rock sample assays please visit GoldHaven's Website: https://goldhavenresources.com/canada/oneill-claims/).

  • The highest gold value was 231 ppb, many samples did not have detectable gold and five samples had more than 50 ppb (0.05 g/t).
  • The highest silver value was 18.9 g/t with three samples having more than 10 g/t, and many samples did not have detectable silver.
  • Lead results up to 8.6% were obtained, with three values above 500 ppm and a minimum value of 19 ppm.
  • The highest copper value was 0.37%, with a minimum value of 5 ppm and four samples above 500 ppm.

An area of mineralized quartz veins at the Weir's Pond occurrence produced all the samples of interest, with high grade (up to 8.6%) lead, and anomalous silver, copper and to a lesser extent gold. This area merits additional exploration.

Path Forward Exploration Plans

Detailed compilation of all previous exploration, as well as government geological, geochemical and geophysical surveys, is ongoing, and a short initial reconnaissance program has been performed. Airborne magnetic/VLF-EM surveys at 100 m line spacing are scheduled to cover both properties in March/April, 2022. Soil geochemical surveys are also planned over prospective portions of both properties this Spring. During the summer of 2022 the plans are to have geological/prospecting crews on site for an extensive period of time, collecting the samples and data necessary to help prioritize different parts of the properties. Induced Polarization surveys and a potential drill campaign will be considered for the highest priority areas.

According to Canivet: "Both GoldHaven project areas in Nfld are showing tremendous promise and we look forward to executing our Phase II geophysics campaign in the coming weeks to provide us with a clearer definition of potential resource - particularly at Pat's Pond which is strategically located very close to both the Boomerang/Domino deposits just 4 km to the Northeast and Marathon Gold's Valentine Lake Gold Project only 20 km to the East."

Figure 3: Silver Results from Grab Sampling Southeast Pat's Pond Property.

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Figure 4: Lead Results from Grab Sampling Southeast Pat's Pond Property

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Figure 5: Zinc Results from Grab Sampling Southeast Pat's Pond Property

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Quality Assurance, Quality Control and Sampling Protocol

Rock samples from O'Neill and Pat's Pond were sent to Eastern Analytical, Springdale Newfoundland for analytical packages "Geochemistry Trace" (ICP-MS) and "Fire Assay". Overlimit samples were analyzed by the Eastern Analytical "Ore Grade Assay" method. Eastern Analytical is a certified and accredited laboratory service provider. No field standards were inserted into the sample sequence due to the reconnaissance nature of the rock sampling campaign. Field blanks were inserted on a frequency of 1 out of every 20 samples.

Qualified Person

Daniel MacNeil, P.Geo, a Qualified Person as defined by National Instrument 43-101 Standards of Disclosure for Mineral Projects, has read and approved all technical and scientific information contained in this news release. Mr. MacNeil is Technical Advisor to GoldHaven Resources Corp.

About GoldHaven Resources Corp.

GoldHaven Resources Corp. is a Canadian junior precious metals exploration company focused on acquiring and exploring highly prospective land packages in both Canada and Chile. GoldHaven holds a strategic presence in the gold and silver rich Maricunga Gold Belt of Northern Chile which is host to several mining and advanced exploration projects including Gold Fields' Salaries Norte (5.2 million ounces of Gold3), Esperanza (Kingsgate Consolidated), La Coipa (Kinross), Cerro Maricunga (Fenix Gold), Lobo Marte (Kinross), Volcan (Volcan), Refugio (Kinross/Bema), Caspiche (Goldcorp/Barrick), and Cerro Casale (Goldcorp/Barrick). The Company has identified a total of 12 high-priority targets at it's Alicia and Roma project areas in the Maricunga within a prominent regional NW-SE structural trend along strike from Goldfield's Salaries Norte deposit. These targets have been designated "High Priority" due to the extent, pervasive alteration, favourable geology, highly animals rock geochemical results, and their relative proximity to existing deposits. GoldHaven is also making exploration progress at the recently acquired Smoke Mountain property which is strategically located in the Central British Columbia Porphyry-Epithermal Belt in close proximity to Berg (Surge Copper), Poplar (Universal Copper) and Imperial Metals' Huckleberry Mine. GoldHaven also acquired and has carried out preliminary exploration work on two properties in the Central Newfoundland Gold Belt; Pat's Pond and O'Neill. Pat's Pond is strategically located in close proximity to Marathon Gold's Valentine Gold Project and on strike from the Boomerang/Domino VMS deposit. Both project areas in Canada are highly prospective for gold, copper, silver and zinc and all project areas have large scale discovery potential.

On Behalf of the Board of Directors

Justin Canivet, CFA
Chief Executive Officer

For further information, please contact:

Bonn Smith,
Business Development

Office Direct: (604) 638-3073

Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

News Release References

1 McCracken, Tt., Ghouralal, S., Zurowski, G., Holloway, A., Bowell, R., Freudigmann, S., Russell, S., Anstey-Moore, C., Lebreton, R., Hammerdown Gold Project, Newfoundland and Labrador Preliminary Economic Assessment, Prepared by WEP for Maritime Resources Corp. Issue Date: April 15, 2020, Effective Date: February 29, 2020.

2 https://newfoundgold.ca/news/new-found-intercepts-150-3-g-t-au-over-11-5m-at-lotto/

3 Jamasmie, C., 2019. Gold Field's Salares Norte project in Chile granted environmental permit. December 18, 2019, 9:29am. Exploration Intelligence Latin America Gold Silver. https://www.mining.com/gold-fields-salares-norte-project-in-chile-granted-environmental-permit/

Cautionary Statements Regarding Forward-Looking Information

This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, the intended use of the proceeds received from the Offering, the possible acquisition of the Projects, the Company's expectation that it will be successful in enacting its business plans, and the anticipated business plans and timing of future activities of the Company, are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that investor interest will be sufficient to close the Offering, and the receipt of any necessary regulatory or corporate approvals in connection with the Offering and the Assignment, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of the Company's projects in a timely manner, the availability of financing on suitable terms for the exploration and development of the Company's projects and the Company's ability to comply with environmental, health and safety laws.

The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the inability to close the Offering, the inability of the Company to enter into definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.

Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/117126

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