Westhaven Gold Drills High-Grade Intercepts at Shovelnose, Initiates Pre-Feasibility Study
Event summary
- Westhaven Gold reported 54m grading 8.99 g/t Au and 55 g/t Ag from in-fill drilling at Shovelnose project.
- Pre-feasibility study initiated for South Zone deposit, funded under Dundee Corporation's earn-in agreement.
- 2026 drilling program expanded to four rigs ahead of schedule, with 50,000m planned.
- Updated mineral resource estimate and pre-feasibility study expected in H2 2027.
- Dundee committed to CDN$30M in first phase of earn-in, including drill program and PFS work.
The big picture
Westhaven's high-grade drilling results and pre-feasibility study initiation position Shovelnose as a potential high-margin gold-silver project. The strategic partnership with Dundee Corporation provides significant funding and technical support, accelerating the project's development timeline. This aligns with broader industry trends of major players investing in high-grade, undeveloped assets in stable jurisdictions like British Columbia.
What we're watching
- Resource Expansion
- Whether the high-grade intercepts will translate into significant resource upgrades for the South Zone deposit.
- Project Economics
- How the pre-feasibility study will refine the project's economic viability and potential path to production.
- Partnership Dynamics
- The pace at which Dundee Corporation advances its earn-in position and potential future funding commitments.
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