GoldHaven Announces Start of Exploration at Pat’s Pond in Newfoundland
October 20, 2021
Vancouver, British Columbia--(October 20, 2021) - GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") announces that a reconnaissance mapping, prospecting and sampling program has started at the Company’s Pat’s Pond (9,700 hectare) property located in the Central Newfoundland Gold Belt (CNGB).
GoldHaven has mobilized a field team to the property and is undertaking its first reconnaissance geology and prospecting program in preparation for the 2022 drilling campaign.
Daniel Schieber, GoldHaven’s CEO, stated: “GoldHaven is starting its program in Newfoundland during a profound increase of exploration activity and interest. This is a prolific but underappreciated jurisdiction containing volcanogenic massive sulfide deposits which hosts Teck’s past producing Duck Pond Mine and Asarco’s Buchans Mine. More recently, Boomerang and Domino, 4km northeast of Pat’s Pond were acquired by Canterra from NorZinc.”1
Figure 1. Newfoundland government’s MODS (mineral occurrence database) Pat’s Pond property contains four historic mineral occurrences. These are Pat’s Pond #1, Pat’s Pond #2, Horn-Mesher and Canoe Pond.
The Pat’s Pond Project straddles the Notre Dame and Exploits Subzones within the Dunnage Zone of Central Newfoundland and are separated by the Red Indian Line, an important structure (suture) that aligns gold mineralization across the Central Newfoundland Gold Belt. (Figure 1).
The eastern part of the property covers the Exploits Subzone and is dominated by northeast-striking, felsic to mafic volcanic and volcaniclastic rocks of the Victoria Lake Supergroup (Figure 1). The Victoria Lake Supergroup hosts the Boomerang/Domino volcanogenic massive sulphide deposits 4 km northeast of the property (Figure. 1). These deposits contain NI 43-101 Indicated Mineral Resources of 1.36 Mt @ 7.09% Zn, 0.51% Cu, 3.00% Pb, 1.66 g/t Au and 110.43 g/t Ag and Inferred Mineral Resources totaling 0.69 Mt @ 6.47% Zn, 0.42% Cu, 2.83% Pb, 95.0 g/t Ag and 0.88 g/t Au1. Marathon Gold’s Valentine Gold Project, with Total Measured and Indicated Mineral Resources (inclusive of the Mineral Reserves) of 3.14 Moz gold (Marathon Gold website), is located 20 km east of the Property2. Note that nearby deposits, and prospects referenced in this part of Newfoundland provide geologic context for the Pat’s Pond property but are not necessarily an indication that the Property hosts similar grades or tonnages of mineralization.
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.
News Release References
About GoldHaven Resources Corp.
GoldHaven Resources is a Canadian precious metals exploration company focused on acquiring and unlocking highly prospective gold projects in the Central Newfoundland Gold Belt (Canada) & the Maricunga Gold Belt (Chile). All properties have large scale discovery potential and all properties in Chile are drill-ready. GoldHaven currently holds the Pat’s Pond and O’Neill projects covering approximately 228 km2of mineral tenements in Newfoundland, Canada. The Company also holds seven Chilean projects; Rio Loa, Coya, Roma, Alicia, Condor, Jacqueline and Valle covering approximately 251 km2; many in close proximity to renowned discoveries or large precious metals mines including Salares Norte (Gold Fields), Esperanza (TDG), La Coipa (Kinross), Cerro Maricunga (Fenix Gold), Lobo Marte (Kinross), Volcan (Volcan), Refugio (Kinross/Bema), Caspiche (Goldcorp/Barrick), Cerro Casale (Goldcorp/Barrick).
On Behalf of the Board of Directors
For further information, please contact:
Head of Business Development
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.
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.