![\"Westhaven](\"https:\/\/peartreecanada.com\/wp-content\/uploads\/2022\/10\/Exhibit-1-768x586.jpeg\")
<\/a>Credit: Westhaven Gold<\/p><\/div>\n
Earlier in the year, Westhaven reported the initial Mineral Resource Estimate (MRE) for the South Zone of the Shovelnose Property. The MRE was based on data from 145 surface holes totalling 56,491m.<\/p>\n
The initial MRE for Shovelnose<\/a> comprises 841,000 ounces (oz) of gold-equivalent grading 2.47 grams per tonne (g\/t) including 791,000 oz gold at 2.32 g\/t in the Indicated category. In addition, the project hosts an Inferred resource of 277,000 oz gold-equivalent at 0.94 g\/t, with 263,000 oz of that gold at a grade of 0.89 g\/t. The resource was based on an open-pit mining scenario.<\/p>\n Westhaven believes it has barely started to unlock the exploration potential at Shovelnose. And with the average gold-equivalent grade of the Indicated resource about seven times higher than the cut-off grade, the company believes the resource model demonstrates excellent potential for future economic extraction.<\/p>\n Since the resource announcement, Westhaven has been releasing a steady flow of exploration results, increasingly demonstrating the bulk-tonnage potential near the South Zone.<\/p>\n Most recently, Westhaven reported<\/a> a new discovery within Vein Zone 2 at the Alpine Zone in hole SNR21-55, which returned 8.00 metres grading 20.22 g\/t gold and 83.97 g\/t silver. The discovery is 500m northwest of the main south zone mineralization (figure 2).<\/p>\n Source: Westhaven Gold<\/p><\/div>\n The company reports that the mineralized zone remains open to the northwest and gives an entirely new area to focus.<\/p>\n Drill hole SNR21-55 is reportedly amongst a group of 17 infill holes located in the northwestern part of the currently defined open pit resource that has not been incorporated into the current resource estimate. The company plans additional step-out drill holes to follow up on this high-grade intersection.<\/p>\n Westhaven also reported assay results from 20 holes from its ongoing drill campaign at the FMN target area, which is located 1.5 to 2.0 km northwest of the South Zone open-pit resource (see Exhibit 3).<\/p>\n Source: Westhaven Gold<\/p><\/div>\n At FMN, mineralization has been encountered over a strike length of 480 metres starting at the top of bedrock. Results suggest Vein Zone 1 broadens up-dip, toward surface, with true widths of up to 40 metres as seen in hole SN21-188, which returned 0.76 g\/t gold over 57.8 metres.<\/p>\n These recent FMN and Alpine drill results define broad intervals of gold mineralization contained in Vein Zones 1 and 2 and associated.<\/p>\n Drilling continues along Vein Zone 1 with a single drill rig turning at the FMN target.<\/p>\n Drilling is following up on 2021\u2019s high-grade intercept in hole SN21-161, which returned 9.15 g\/t gold over 15.97 metres (see Exhibit 4). This drilling has now encountered mineralization over a strike length of 480 metres (from hole SN20-139 northwest to hole SN21-167), over a vertical range of 270 metres, starting at the top of bedrock.<\/p>\n Source: Westhaven Gold<\/p><\/div>\n Additional results remain pending from both the FMN zone and South Zone expansion holes which should provide a steady flow of news.<\/p>\n For more details and relevant drill cross-sections, click here<\/a>, and click here<\/a> for the latest Westhaven Gold news release.<\/p>\n","protected":false},"featured_media":11735,"template":"","content_type":[19],"topic":[29],"class_list":["post-11141","perspectives","type-perspectives","status-publish","has-post-thumbnail","hentry","content_type-report","topic-mining-finance"],"acf":[],"yoast_head":"\nThe Significance<\/h3>\n
Figure 2. South Zone and New Alpine Zone High-Grade Intercept Locations<\/h5>\n
<\/a>Exhibit 3. South Zone\/Alpine Zone Cross-Section Looking Northwest.<\/h5>\n
<\/a>Next Steps<\/h3>\n
Exhibit 4. Shovelnose Cross-Section of FMS Zone Looking Northwest<\/h5>\n
<\/a>Company Highlights<\/h3>\n
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Notes (from relevant technical reports):<\/h6>\n
1 \u2013 The Shovelnose MRE are estimated using metal price assumptions of US$1,675 per ounce for gold and $21.50per ounce for silver, with a USD:CD FX of 0.77. C$ operating costs used were $3 per tonne mineralized material mining, $2.50 per tonne waste mining, $2.00 per tonne overburden mining, $18 per tonne processing and $5 per tonne G&A.
\nThe pit slopes used were 50\u00ba<\/sup> in rock and 30\u00ba in the overburden.<\/h6>\n