GoldHaven Announces 2022 Smoke Mountain Exploration Plan
February 9, 2022
Vancouver, British Columbia - (February 9, 2022) - GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") outlines work plans for 2022 at the Smoke Mountain property in BC (Figure 1). The Company carried out its Phase 1 reconnaissance mapping, sampling and prospecting exploration program in September, 2021, which successfully outlined a 2.5 kilometre-long Cu-Au-Zn mineralization trend (Figure 2).
Upcoming geological work aims to further understand this newly identified mineralization trend within the framework of this extensive polymetallic belt. The Phase 2, 2022 exploration program includes airborne magnetic geophysics and a two-month field program consisting of mapping, sampling and prospecting with the objective of advancing the project to drill-testing.
David Smith, President of GoldHaven, stated: “Advancing the Smoke Mountain project has quickly become a priority for the Company. We are encouraged by the world-class intercepts of our neighbours and are committed to pushing our exposure in this district. Geophysics will be an important tool and will help to refine drill targets. Smoke Mountain provides GoldHaven investors an attractive hedge, we have an excellent gold exploration portfolio in the Maricunga and Newfoundland portfolios, and Smoke Mountain provides exposure to copper in a highly prospective district."
Smoke Mountain – Belt Exploration Activity
The recent exploration success by our direct neighbours is a testament to the metal endowment of the district. Universal Copper, to the East of Smoke Mountain, is advancing its Poplar project and has shared the following results from their 2021 diamond drill campaign: intercepts 432.8m of 0.57% CuEq7 and 479.75m of 0.56% CuEq8 both from surface. These are highly encouraging results for this area and suggests an area play that is appropriate to capitalize on today’s copper and gold markets.
Surge Copper’s Ootsa project neighbours Smoke Mountain directly to the South. Oosta includes three advanced stage Cu-Au-Mo-Ag porphyry deposits, and is a large, NI 43-101 compliant resource. Open pit constrained mineral resources contain 1.1 billion pounds of copper and over 1 million ounces of gold in the measure and indicated categories9. Surge Copper recently released results from their 2021 exploration campaigns: step out hole intersecting 585 metres grading 0.57% CuEq including 164 metres grading 0.68% CuEq10 and 830 metres of 0.38% CuEq and 378 metres of 0.40% CuEq11.
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 this is not necessarily indicative that the Property hosts similar grades or tonnages of mineralization.
Figure 2. Rock grab sample results from initial mapping, prospecting, and sampling at GoldHaven’s Smoke Mountain Project. Polymetallic mineralization has been discovered over a +2.5km strike length (see news release dated January 18, 2022).
Daniel MacNeil, MSc. 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.
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration Company active in the highly gold and silver endowed Maricunga Gold Belt of northern Chile. The Company has also made recent acquisitions in high profile metal belts in both British Columbia and Newfoundland, Canada. The Maricunga Belt measures 150 km north-south and 30 km east-west and is host to numerous mines 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), Cerro Casale (Goldcorp/Barrick). The Company has agreements in place to acquire seven high priority exploration targets as identified by geological studies. To date, GoldHaven has identified “High Priority” targets on four of the seven exploration properties and will commence a drilling program during the first quarter of 2021. The four priority targets include Coya, located approximately 16 km northeast of the Kinross La Coipa mine; the second is Rio Loa, a project located 25 km south of Gold Field’s Salares Norte deposit (5.2 million ounces of Gold1); the third and fourth projects are Alicia and Roma which are approximately 35 km south of the Salares Norte deposit. These exploration targets have been designated High Priority due to extensive, pervasive alteration, favourable geology, highly anomalous rock geochemical results, and their relative proximity to existing deposits.
On Behalf of the Board of Directors
For further information, please contact:
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 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
2 Norton, C., Huang, J., and Lui, D., Updated Technical Report and Mineral Resource Estimate on the Berg Project, British Columbia. A NI43-101 Technical Report prepared by Tetra Tech Canada Inc. EFFECTIVE DATE: MARCH 9, 2021; RELEASE DATE: MAY 3, 2021. https://surgecopper.com/site/assets/files/5735/updated_technical_report_mineral_resource_estimate_on_the_berg_project-_bc.pdf
3 Christensen, K., Connaughton, G.R., and Ogryzolo, 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
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 Universal Copper Intercepts 432.8 M Of 0.57% Cueq From Surface At Poplar https://universalcopper.com/20220125-universal-copper-intercepts-432.8-m-of-0.57cueq-from-surface-at-poplar
8 Universal Copper Intercepts 479.75 M Of 0.56% Cueq From Surface At Poplar. https://universalcopper.com/20220118-universal-copper-intercepts-479.75-m-of-0.56cueq-from-surface-at-poplar
9 Surge Copper, Ootsa Project. https://surgecopper.com/projects/ootsa-project/resources/
10 Surge Copper Significantly Expands West Seel With Step Out Hole Intersecting 585 Metres Grading 0.57% Copper Equivalent Including 164 Metres Grading 0.68% Copper Equivalent. https://surgecopper.com/news-releases/surge-copper-significantly-expands-west-seel-with-step-out-hole-intersecting-585-metres-grading-0.57-copper-equivalent/
11 Surge Copper Intersects 830 Metres Of 0.38% CuEq And 378 Metres Of 0.40% CuEq At West Seel. https://surgecopper.com/news-releases/surge-copper-intersects-830-metres-of-0.38-cueq-and-378-metres-of-0.40-cueq-at-west-seel/
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.