Noted explorer poised to become “gold growth engine”...

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In the coming gold bull market, companies with established gold resources and demonstrable exploration upside will likely perform best.
 

With a recently published PEA for its Shovelnose project and an active drill program set to probe for more high-grade assays,
Westhaven Gold (WHN.V; WTHVF.OTC) is primed to soar.

Dear Fellow Investor,

It’s a powerful, proven formula for success in a gold market.

Have an established gold resource with proven economics...and then back it up with a focused exploration program capable of producing market-moving high-grade assays.

That’s exactly what Westhaven Gold (WHN.V; WTHVF.OTC) now offers gold bugs.

Last week, Westhaven published a preliminary economic assessment on the South Zone of its Shovelnose project, located along the Spences Bridge Gold Belt in south-central British Columbia.
 

As you’re about to see, the South Zone has compelling economics on its own, and yet it’s but a small piece of a huge property capable of delivering much more gold.
 

Not only does Shovelnose have tons of exploration upside, but so do the other projects Westhaven owns within the Spences Bridge Gold Belt.
 

As you’re about to see, with a gold bull market on the horizon as the Fed nears the end of its rate raises, Westhaven Gold boasts an embarrassment of riches that could enrich shareholders in the weeks just ahead.

Value Anchored By
The High-Grade South Zone Deposit

The value Westhaven has established at Shovelnose’s South zone is already compelling.

The deposit has an after-tax internal rate of return (IRR) of 32.3% and an after-tax net present value (NPV), discounted at 6%, of C$222 million.
 

And just as enticing: Thanks to an abundance of nearby infrastructure, including a highway and power, the proposed mine at the South zone has pre-production capital of just C$149.6 million.

The projected mine would operate at 1,000 tonnes-per-day and deliver total payable metals of 534,000 ounces gold and 2.7 million ounces silver over a 9.5-year mine life. Recoveries are projected at a robust 91.5% for gold and 92.9% for silver, and the average grade is a rich 5.37 g/t gold, along with 28.62 g/t silver.
 

The mine is targeted for only the underground resources at the South Zone, and does not include the additional considerable gold and silver resources at Shovelnose.
 

Already, even this relatively modest project is worth several multiples of Westhaven’s current ~C$40 million market cap.

Even More High-Grade Gold
Could Bring Significant Resource Growth

And Westhaven is by no means done exploring the potential at Shovelnose.
 

Indeed, the FMN and Franz targets, located northwest of the South zone, have produced some of the highest grade drilling hits yet on the project.

In 2022, the drills pulled the highest-grade gold-silver intercept on the deposit at FMN — 23.0 meters of 37.2 g/t gold and 209.5 g/t silver.
 

Then, in 2023, the company hit an at-surface bonanza grade interval at Franz grading 39.4 g/t gold ang 51.8 g/t silver over 12.0 meters.

A fully financed 25,000-meter drill program is ongoing at Shovelnose to expand the FMN and Franz zones and to find new zones of mineralization.
 

To no one’s surprise, then, Westhaven is looking at adding FMN and possibly Franz to the overall resource at Shovelnose in its next resource update.
 

The current underground resource stands at 830,000 ounces gold equivalent, with 654,000 indicated ounces of gold equivalent and 176,000 ounces of inferred gold equivalent using a 1.5 g/t AuEq cut-off.

Lots Of Room To Expand Shovelnose

And Franz and FMN are just the start of what could be a district-scale play at Shovelnose.
 

Other targets that will see drilling this year include the Hydrothermal Breccia 2 zone, the Brookmere zone and the Kirton zone.
 

Even though it already has over 800,000 ounces gold equivalent to its credit, Westhaven believes Shovelnose has multi-million-ounce potential.

There’s also the prospect of an entire district of gold deposits, thanks to the other projects Westhaven controls in the Spences Bridge Gold Belt.

Just one example: The company’s Skoonka gold property has shown early signs of hosting high-grade metal, including a hole on the JJ zone that produced 1.9 meters of 21.2 g/t gold.
 

The Skoonka North property is at an earlier stage, but recent silt sampling on the project returned the highest grade silt sample ever taken from the Spences Bridge Gold Belt, at 1,720 parts per billion.

Dramatically Undervalued
— With Huge Upside Remaining

With the PEA on the South zone under its belt, Westhaven Gold is looking at a slew of upcoming catalysts for its share price.

•    First and foremost is the drilling Westhaven is doing at Shovelnose. Drilling will both seek to expand FMN and Franz and seek to outline gold on new targets, and this program has the potential to deliver high-grade assays to the market throughout the back half of 2023.
 

•     Next up after that is a resource update in Q2 2024 that could add resources from both FMN and Franz.
 

•     Then there’s the ongoing efforts to define drill targets at Skoonka and Skoonka North.

Remember, even without all this exploration upside, the South zone all by itself sports an after-tax NPV that’s five times Westhaven’s market cap.
 

That means if you own Westhaven Gold near current levels, you’d be getting the company’s significant growth potential essentially for free.
 

All of which makes now a great time to take a closer look at this aggressive gold explorer-developer.

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