GoldHaven Options the Gold-Copper Endowed Smoke Mountain Project, Central British Columbia
Vancouver, British Columbia--(Newsfile Corp. - June 28, 2021) - GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") is pleased to announce that it has entered into an earn-in agreement under which GoldHaven may earn a 100% interest in the 4,190 hectare (42 km2 ) Smoke Mountain copper-gold property located in central British Columbia approximately 60 kilometers southwest of Houston and 23 km north-northwest of Imperial Metals Corporation's Huckleberry copper-molybdenum-silver Mine. The property is accessible via a series of gravel forest service roads off Highway 16.
Daniel Schieber GoldHaven's CEO comments: "The Smoke Mountain Project provides Goldhaven's shareholders with access to a gold-copper endowed project in a sought-after metal belt in British Columbia. This area has seen a significant amount of discovery, most recently Sun Summit's (SMN.V) Buck property and Equity Metals' (EQTY.V) Silver Queen have been delivering high grade gold and silver results. We are on a very prospective belt and this will ensure that GoldHaven can provide results to shareholders year-round."
Smoke Mountain Project Overview
The Smoke Mountain Project is a strategic land position within an 85-kilometer-long belt of copper, gold and silver endowed magmatic-hydrothermal mines, deposits and occurrences in west central British Columbia (Figure 1). Historic work at Smoke Mountain includes mapping and sampling which highlights the presence of high-grade gold mineralization, in addition to a significant surface area with mineralized veins and alteration footprints. The Smoke Mountain land position is road accessible and highly prospective for gold and copper.
Smoke Mountain Highlights
• Rock sampling by the British Columbia Geological Survey in 1989 returned 7.45 g/t gold associated with widespread hydrothermal alteration and chalcopyrite and bornite on the southwestern flank of Smoke Mountain6.
• The Smoke Mountain claims contain prospective Jurassic Hazelton Group volcanic rocks and intrusions assigned to the Buckley Suite. These rocks are associated with many of the significant copper, gold and polymetallic deposits in this part of BC.
• Smoke Mountain is part of a northeast trending metallogenic belt of porphyry and epithermal copper-gold-silver mines, development projects, showings and occurrences.
• Major projects in the belt include Buck (Sun Summit Metals), Silver Queen (Equity Metals), Poplar (Universal Copper), Berg (Surge Copper earn-in from Centerra) and Huckleberry (Imperial Metals).
Figure 1. Location of the gold-copper prospective Smoke Mountain Project, west central British Columbia, Canada. NOTE: The nearby mines and exploration projects, including their resources and recent drill intercepts provide geologic context for the Smoke Mountain Property, but this is not necessarily indicative that The Property hosts similar grades or tonnages or mineralized intercepts of mineralization.
To view an enhanced version of Figure 1, please visit:
In consideration of the granting of the Option and to maintain the Option, GoldHaven shall during the Option Period issue to the Optionors an aggregate of $450,000 in GoldHaven Shares and make cash payments to the Optionors in the amount of $375,000 as follows:
|(a) On the Effective Date||$25,000 and $112,500 in GoldHaven Shares|
|(b) On or before 12 months from the Effective Date||$50,000 and $112,500 in GoldHaven Shares|
|(c) On or before 24 months from the Effective Date||$100,000 and $112,500 in GoldHaven Shares|
|(d) On or before 36 months from the Effective Date||$200,000 and $112,500 in GoldHaven Shares|
|TOTAL||$375,000 and $450,000 in GoldHaven Shares|
Where the number of GoldHaven shares issuable shall be determined by dividing the $ amount by the Market Price at the date of issuance. The vendors retain a 2.5% NSR royalty (buyable down to 2%) and there are no work commitments on the property.
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.
In addition to Rio Loa and Alicia, GoldHaven controls five other high priority Chile assets which will continue to be tested, drilled and advanced. As a result, these ongoing exploration efforts will keep the Company busy during 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 as high priority based on extensive and pervasive alteration, favourable geology, highly anomalous rock geochemistry results, and their relative proximity to existing deposits.
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration Company active in the highly gold and silver endowed Maricunga Gold Belt of northern Chile. The Maricunga Belt measures 150km north-south and 30 km east-west and is host numerous mines and advanced exploration projects including Salares Norte (Goldfields), Esperanza (Kingsgate Consolidated), La Coipa (Kinross), Cerro Maricunga (Fenix Gold), Lobo Marte (Kinross), Volcan (Volcan), Refugio (Kinross/Bema), Caspiche (Goldcorp/Barrick), Cerro Casale (Goldcorp/Barrick). The Company has agreements in place to acquire seven high priority exploration targets as identified by geological studies. To date, Goldhaven has identified "High Priority" targets on four of the seven exploration properties and, will commence a drilling program during the first quarter of 2021. The four priority targets include Coya, located approximately 16 km northeast of the Kinross La Coipa mine; 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
1 Giroux, G.H., 2012. MINERAL RESOURCE UPDATE On The POPLAR DEPOSIT, OMINECA MINING DIVISION BRITISH COLUMBIA. Prepared for Lions Gate Metals Inc. Prepared by Giroux Consultants Ltd. Effective Date: March 30, 2012 https://www.universalcopper.com/UNV_Presentation_Web.pdf?a28db
2 Norton, C., Huang, J., and Lui, D., Updated Technical Report and Mineral Resource Estimate on the Berg Project, British Columbia. A NI43-101 Technical Report prepared by Tetra Tech Canada Inc. EFFECTIVE DATE: MARCH 9, 2021; RELEASE DATE: MAY 3, 2021. https://surgecopper.com/site/assets/files/5735/updated_technical_report_mineral_resource_estimate_on_the_berg_project-_bc.pdf
3 Christensen, K., Connaughton, G.R., and Ogryzolo, P., 2011. TECHNICAL REPORT ON THE MAIN ZONE OPTIMIZATION HUCKLEBERRY MINE OMINECA MINING DIVISION BRITISH COLUMBIA, CANADA. Prepared for Huckleberry Mines Ltd. and Imperial Metals Corporation November 22, 2011 The effective date of the exploration data is September 1, 2011, Amended May 11, 2016. https://www.imperialmetals.com/assets/docs/2016-hml-43-101-technical-report-on-the-main-zone-optimization.pdf
4 Burga D., Barry J., Grant D., Hutter J., Puritch E., Sutcliffe, R.H., and Wu, Y., 2019. INITIAL MINERAL RESOURCE ESTIMATE AND TECHNICAL REPORT ON THE NUMBER 3 VEIN, SILVER QUEEN PROPERTY, OMINECA MINING DIVISION, BRITISH COLUMBIA, CANADA. Prepared for NEW NADINA EXPLORATIONS LIMITEDNI 43-101 & 43-101F1 TECHNICAL REPORT by P&E Mining Consultants Inc. Effective Date: July 15, 2019 Signing Date: August 29, 2019. https://equitymetalscorporation.com/site/assets/files/3673/sq_ni43-101_aug29_2019.pdf
6 Diakow, L.j., and Drobe, J.R., 1989. The Geology and Mineral Occurrences in the North Newcombe Lake Map Sheet, NTS 093E/14. Open File Map 1989-1 British Columbia Ministry of Energy, Mines and Petroleum Resources Map.
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.
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