Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Drilling at Westhaven Ventures’ Shovelnose gold project in British Columbia’s Spences Bridge gold belt, continues to return high-grade hits.
Highlights of the holes, drilled during the 2019 program at Shovelnose, include:
In a press release, Westhaven president and CEO Gareth Thomas said that the first intercept is especially significant due to its depth.
“The high-grade gold intercept in hole SN19-38 is the most significant intercept to date at the 1,100 metre elevation level in Vein Zone 1, since it expands the high-grade gold potential from a vertical perspective,” Thomas said. “At this time last year, we had identified roughly 300 metres of strike length; the 2019 drill results have increased that to 1,300 metres. We have built confidence in the continuity of this vein zone and subsequently have gone on to discover two additional high-grade gold veins.”
True widths of the intercepts are estimated at 80-90% of reported lengths. The company drilled a total of 49 holes for 21,889 metres last year at the project, which is located 30 km south of Merritt, B.C.
The 2020 drill program at Shovelnose is slated to begin in mid-February.
(This article first appeared in the Canadian Mining Journal)
