Exploration Update on GoldHaven’s Promising Smoke Mountain Project in the Central British Columbia Porphyry-Epithermal Belt
June 29, 2022
Vancouver, British Columbia – (CNW. – June 29, 2022) – GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) (“GoldHaven” or the “Company”) provides an update on the ongoing exploration activities at Smoke Mountain as a result of the discovery of a 2.5-kilometre-long Cu-Au-Zn-rich open-ended northeast trend on the property (click here for January 18, 2022 news release).
GoldHaven CEO, Justin Canivet reports “This highly prospective porphyry-epithermal belt is evolving into one of Canada’s most exciting copper, gold and silver districts and represents a potential game-changer for GoldHaven. We are thrilled to be exploring in this top-tier jurisdiction.”
Smoke Mountain Surrounded by Significant Occurrences and Historic Resources
GoldHaven’s large 4,190 hectare Smoke Mountain property is strategically situated within an extensive 85 kilometre polymetallic belt that is highly prospective for gold-silver-zinc epithermal systems, porphyry copper-gold deposits, as well as gold and silver-rich magmatic-hydrothermal occurrences. The property is road accessible from Houston via a series of gravel forest service roads off Highway 16.
Exploration activity in the area has been renewed in this historic mining region, propelled by the ongoing expansion of advanced exploration projects and mines including:
- Universal Copper’s Poplar project (18km NE) hosting 236Mt @ 0.37% Cu1
- Surge Copper’s Berg project (15km SW) with reserves of 238Mt @ 0.4% Cu; 0.05% Au2
- Imperial Metals' Huckleberry project (26 km SE) containing 161Mt @ 0.48% Cu3
Note: the mines and advanced exploration and development projects in the Central BC porphyry-epithermal provide geologic context for the Smoke Mountain Property, but this is not necessarily indicative that the Project host similar grades or tonnages of mineralization.
Smoke Mountain Phase II Prospecting Program
GoldHaven has contracted Dahrouge Geological Consulting Ltd. to carry out a 30-day fieldwork campaign (currently underway) which includes geological mapping, soil sampling, stream sediment sampling and prospecting/rock sampling. Portable XRF is being deployed to increase the data turnaround with follow-up analytical work at ActLabs. The objective of this work is to expand the zones of known mineralization and define new exploration occurrences on the property.
This will be followed by airborne LiDAR, MAG, Radiometrics and Z-Tipper Axis Electromagnetic (ZTEM) surveys. Depending on results, additional work will include ground-based induced polarization surveys followed by drilling.
Figure 1. The location of the Smoke Mountain property in the Central BC porphyry-epithermal belt. Note, the mines, deposits, and prospects in this part of BC provide geologic context for the Smoke Mountain property, but these are not necessarily an indication that the Property hosts similar grades or tonnages of mineralization.
Highly Prospective Region
The historic Central BC porphyry-epithermal belt is re-emerging as an important copper-gold-silver jurisdiction as evidenced by increased staking activity and exploration drilling. The region is quickly becoming known for its long mineralized drill intercepts including Universal Copper’s 216m interval grading 0.54% CuEq (click here for release) and has the potential to host some of the largest copper-polymetallic discoveries in British Columbia.
In recent news, Surge Copper expanded their Ootsa project by 96% to a total of 439Mt grading 0.32% CuEq increasing their total mineralized inventory in the southern part of this belt to over 1 billion tonnes (measured and indicated; click here for release).
These results in the immediate vicinity of GoldHaven’s Smoke Mountain project showcase the exceptional regional endowment and metallogenic character of the Late Cretaceous arc rocks hosted within this belt. GoldHaven’s exploration upside lies in the 2.5km long untested and under-explored alteration and mineralization trend currently being examined by our field team at Smoke Mountain.
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 maintains 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 Salares Norte (Gold Fields), 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 its Alicia and Roma project areas in the Maricunga within a prominent regional NW-SE structural trend along strike from Gold Fields’ Salares Norte deposit (5.2 million ounces of Gold7)*. These targets have been designated “High Priority” due to the extent, pervasive alteration, favourable geology, highly anomalous rock geochemical results, and their relative proximity to existing deposits. GoldHaven is also making exploration progress at its Smoke Mountain property (Canada) which is strategically located in the Central British Columbia Porphyry-Epithermal Belt in close proximity to Surge Copper’s Berg project, as well as its Pat’s Pond project in Newfoundland’s Central Newfoundland Gold Belt (Canada). Pat’s Pond is strategically located less than 20km from Marathon Gold’s 3.14 Moz8 Valentine Gold Project and on strike from the Boomerang/Domino VMS deposit*. Pat’s Pond is highly prospective for gold, copper, silver and zinc and has large scale discovery potential. GoldHaven engages proactively with local and Indigenous rightsholders and seeks to develop relationships and agreements that are mutually beneficial to all stakeholders.
* NOTE: The deposits/mines near GoldHaven’s properties provide geologic context, but this is not necessarily indicative that GoldHaven properties host similar grades or tonnages of mineralization.
On Behalf of the Board of Directors
Justin Canivet, CFA
Chief Executive Officer
For further information, please contact:
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 Giroux, G.H., 2012. MINERAL RESOURCE UPDATE on The POPLAR DEPOSIT, OMINECA MINING DIVISION BRITISH COLUMBIA. Prepared for Lions Gate Metals Inc. Prepared by Giroux Consultants Ltd. Effective Date: March 30, 2012 https://www.universalcopper.com/UNV_Presentation_Web.pdf?a28db
3 Christensen, K., Connaughton, G.R., and Ogryzlo, P., 2011. TECHNICAL REPORT ON THE MAIN ZONE OPTIMIZATION HUCKLEBERRY MINE OMINECA MINING DIVISION BRITISH COLUMBIA, CANADA. Prepared for Huckleberry Mines Ltd. and Imperial Metals Corporation November 22, 2011 The effective date of the exploration data is September 1, 2011, Amended May 11, 2016. https://www.imperialmetals.com/assets/docs/2016- hml-43-101-technical-report-on-the-main-zone-optimization.pdf
4 Burga D., Barry J., Grant D., Hutter J., Puritch E., Sutcliffe, R.H., and Wu, Y., 2019. INITIAL MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE NUMBER 3 VEIN, SILVER QUEEN PROPERTY, OMINECA MINING DIVISION, BRITISH COLUMBIA, CANADA. Prepared for NEW NADINA EXPLORATIONS LIMITED
NI 43-101 & 43-101F1 TECHNICAL REPORT by P&E Mining Consultants Inc. Effective Date: July 15, 2019 Signing Date: August 29, 2019. https://equitymetalscorporation.com/site/assets/files/3673/sq_ni43- 101_aug29_2019.pdf
5 https://sunsummitminerals.com/news/2021/sun-summit-drills-31-6-g-t-gold-over-4-0-metres-including-246-g-t- gold-over-0-5-metres-in-the-trench-zone-and-1-07-g-t-gold-over-109-metres-including-7-17-g-t-gold-over-5-2- metres-in-the-horseshoe-zo/
6 Diakow, L.J., and Drobe, J.R., 1989. The Geology and Mineral Occurrences in the North Newcombe Lake Map Sheet, NTS 093E/14. Open File Map 1989-1 British Columbia Ministry of Energy, Mines and Petroleum Resources Map.
7 Jamasmie, C., 2019. Gold Fields 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.