GoldHaven Provides Drilling Update on Rio Loa and Prepares for First Phase Drilling at Alicia
Vancouver, British Columbia--(Newsfile Corp. - March 4, 2021) - GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven", "GOH" or the "Company") reports that Phase I drilling continues to advance as planned at Rio Loa.
The Rio Loa Project is located 25 km south of Gold Field's Salares Norte deposit (5.2 million ounces equivalent of Gold scheduled to produce 450,000oz of Gold per annum1) and 6 km south of Gold Field's Horizonte discovery.
The GOH drill-team is actively drilling hole RCRL-003 which is currently in argillic altered limonite-rich volcanic rocks. Silicified volcaniclastic rocks with incipient vuggy silica were intersected at various intervals to the current depth of 300 meters. RCRL-003 continues to be strongly oxidized with abundant disseminated limonite and is presently within a zone of silicification. This hole has a projected depth of 350m.
Daniel Schieber GoldHaven's CEO comments: "This is the right step in our development to unlock the potential of our 251 square km Maricunga district play. The drilling continues as planned and has been providing us with what we want to see at this stage. The Alicia project is next-up for drilling which will provide consistent news-flow after we complete at Rio Loa."
In addition, GOH's geology crew has been mobilized to the high sulfidation epithermal Alicia project, which will be drilled next.
The 6,200 hectare Alicia project is located approximately 30 km SE of Salares Norte (Gold Fields) where GOH has completed geologic mapping, geochemical sampling and TerraSpec 4 Hi-Res mineral analyzer SWIR alteration analyses (522 samples) along a geochemical grid (~200 meter lines with 100 to 200 meter stations) to quantify the size of the alteration footprint and its intensity. The Alicia Project contains two large, argillic to advanced argillic alteration zones including the Alicia Norte footprint measuring 5 x 3 kilometers and the Alicia Sur which is 3 x 2 kilometers. Both alteration footprints contain multiple targets and are partially covered by post-mineral volcanic (dacite) flows and domes. Locally, the targets are characterized by intense hematite-jarosite (after disseminated pyrite) and goethite limonites accompanied by alunite.
Prospective damage zones including NW-SE trending and secondary NE-SW trending brittle faults are present in the project area. These structures exhibit intense opaline-silica +/- alunite alteration and contain native sulphur. Anomalous gold values up to 84 ppb (ranging from detection limit to 84 ppb) were returned from rock chip samples of silica-alunite-kaolinite-native sulphur in altered dacitic volcanic rocks. Soil samples returned the anomalous pathfinder element suite: Mo-Sb-Te-Hg-Pb.
In addition to Rio Loa and Alicia, the Company has five additional high priority assets to test and drill. This will keep the Company busy through 2021. The Company is advancing its Apolo Project's Roma and Alicia properties as well as its Coya assets and preparing them for drill testing. These targets have been designated high-priority based on extensive and pervasive alteration, favorable geology, highly anomalous rock geochemistry results, and their relative proximity to existing deposits.
References to other Mines and Deposits
References to other mines and deposits made in this news release provide context for the Rio Loa and Alicia projects which occur in similar geologic settings. Rio Loa and Alicia do not necessarily host similar grades and tonnages of mineralization.
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.
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration Company active in the Maricunga Gold Belt of northern Chile. The Maricunga Belt measures 150 km north-south and 30 km east-west and is host to numerous discoveries over the past twenty years and has a prolific gold, silver copper metal endowment. The Company has agreements in place to acquire seven high priority exploration targets which were identified by geological studies. To date, GoldHaven has considers four of these seven properties "High Priority" targets and will commence drilling during the first quarter of 2021. The four priority targets include Coya, located approximately 16 km northeast of the La Coipa mine where Kinross announced a mining re-start in 20202; the second is Rio Loa, a project located 25 km south of Gold Field's Salares Norte deposit (5.2 million ounces of Gold equivalent1; the third and fourth projects are Alicia and Roma which are approximately 35 km. south of the Salares Norte deposit. These exploration targets have been designated High Priority due to extensive, pervasive alteration, favourable geology, highly anomalous rock geochemical results, and their relative proximity to existing deposits.
We Seek Safe Harbor.
On Behalf of the Board of Directors
For further information, please contact:
CEO & Director
Office Direct: (604) 638-5938
Cell Direct: (604) 722-5798
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.
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.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the inability to close the Offering, the inability of the Company to enter into definitive agreements in respect of the Letters of Intent which are the subject of the Assignment, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedar.com and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
1 Jamasmie, C., 2019. Gold Field’s 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/
2 Chen, J., 2020. Kinross to restart La Coipa mine. February 13, 2020, 9:54 am Exploration Top Companies Canada Latin America Gold Silver. https://www.mining.com/kinross-to-proceed-with-la-coipa-mine-restart/
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76061