GoldHaven Provides Exploration Update on Pat’s Pond Located in the Central Newfoundland Gold Belt
June 23, 2022
Vancouver, British Columbia – (CNW – June 23, 2022) – GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) (“GoldHaven” or the “Company”) provides an update on the ongoing exploration activities on Pat’s Pond in the Central Newfoundland Gold Belt (“CNGB”).
“We have received our exploration permits for Pat’s Pond and are thrilled to have begun our second exploration campaign on the property”, said GoldHaven CEO, Justin Canivet. “Given the close proximity of Pat’s Pond to Marathon Gold’s Valentine Lake project, the province’s most advanced project, we feel we hold some of the most highly prospective ground in the CNGB, and we very much look forward to interpreting the results from this second exploration campaign”.
The 9,700 hectare Pat’s Pond property is located less than 20 km from Marathon Gold’s 3.14 Moz (56.7 Mt at 1.72 g/t Au) Valentine Gold Project1 and on trend with the Boomerang/Domino VMS deposit (4 kilometres to the northeast)*. The property is road accessible and is highly prospective for precious metal-rich volcanogenic massive sulphide mineralization and mesothermal gold.
* NOTE: The deposits/mines within the Central Newfoundland Gold Belt provide geologic context for the Pat’s Pond property but this is not necessarily indicative that Pat’s Pond hosts similar grades or tonnages of mineralization.
Figure 1. Location of Pat’s Pond
Airborne Magnetic/VLF-EM Survey at Pat’s Pond
GoldHaven is working with Terraquest Ltd., an airborne geophysical survey provider based in Markham, Ontario, to conduct an Airborne magnetic/VLF-EM survey at 100 m line spacing.
As of June 6, 2022, the aircrew flew over 3 hours, acquiring 249.7 line kms of data. To date Terraquest has acquired 432 km out of planned 1357.2 km for a total of 31.8% of the survey block. Terraquest expects to finish the survey by the end of this month.
When the airborne geophysics is complete, a geological/prospecting crew will be on site and will focus on collecting additional surface rock geochemical samples and enhancing the surface lithological and structural map which will contribute to ongoing ranking and prioritization of targets on the property. Ground based Induced Polarization geophysical surveys and a potential drill campaign will be completed on the highest priority areas, likely in Q4 of 2022. Soil geochemistry will be used on the highest priority targets to assist with drill hole placement.
Promising Historical Data from Pat’s Pond
Historical assays have returned values as high as 19.16 g/t Au, 914 g/t Ag, 8.7% Zn, 6.1% Pb, 2.13% Sb, and 0.92% Cu2 (click here to see table of most recent rock sample assay results).
In October 2021, GoldHaven’s exploration team collected 41 samples on Pat’s Pond and returned highs of 605 g/t Ag, 5.5 g/t Au, 9.7% Pb, 5.05% Zn and 0.69% Cu, with one sample returning an antimony value of the 3.22% Sb (see March 17 press release for full details). 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 copper3.
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 Gold5)*. 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 Moz1 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 Valentine Gold Project; About The Project. https://marathon-gold.com/valentine-gold-project/
5 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.
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