Details

The 10, 871 hectare Prospect Valley (PV) Gold Property is located roughly 30 kilometres to the west of Merritt, British Columbia and is situated in the Spences Bridge Gold Belt (SBGB). The property is road accessible and benefits from its proximity to both towns and highways. Westhaven recently acquired 100% interest in this property subject to a 2% NSR.

The SBGB is a 110 km northwest–trending belt of intermediate to felsic volcanic rocks dominated by the Cretaceous Spences Bridge group. These relatively underexplored volcanic rocks are highly prospective for epithermal style gold mineralization. Westhaven has been working on the SBGB since 2011.

Overview

The PV property was first staked in the fall of 2001 as a result of the discovery of numerous gold–bearing quartz vein and breccia float occurrences demonstrating classic epithermal textures.

The identification of low–sulphidation epithermal mineralization in both outcrop and float has focused exploration on the property to the Discovery, NIC, Northeast Extension and Bonanza Valley zones.

Subsequent to the 2001 discovery, there's been considerable work completed including:

  • Multiple iterations of soil sampling
  • Helicopter–borne and ground geophysics including magnetic and Induced Polarization surveys
  • 1,641 metres of trenching
  • 57 holes of diamond drilling for a total of 8,818 metres

The majority of historical drilling on the Prospect Valley property has taken place in the centre of the claim block, along the Discovery Trend. This drilling outlined an extensive low grade epithermal gold system with indications of potential for additional and higher grade mineralization.

In 2012, a *NI43–101 compliant inferred mineral resource estimate was completed on behalf of Berkwood Resources Ltd by Henry Awmack, P.Eng. of Equity Exploration Consultants Ltd and Gary Giroux, P.Eng., M.A. Sci. of Giroux Consultants Ltd. The resource focused only on the Discovery Zone. The resource utilized data taken from 45 of the 57 drill available drillholes completed to that date and resulted in a resource estimate of 166,000 ounces of gold grading 0.511 g/tonne from 10.1 million tonnes above a cut–off grade of 0.30 g/tonne gold. (Click this link to view the NI43–101 Report). This resource is close to surface and is open for expansion in all directions.

Mineralogical and alteration studies indicate potential for a high grade mineral system at depth.

Management's goal is to identify a high–grade gold resource that will support a significant, long term mine life.

Drilling Highlights Include:

  • DDH–2006–21 returned 45.70m of 1.57g/t gold including 4.60m grading 4.38g/t gold and 8.90m grading 2.03g/t gold.
  • DDH–2007–01 returned 61.40m of 0.70g/t gold and 4.70g/t silver.
  • DDH–2007–01 returned 61.40m of 0.70g/t gold and 4.70g/t silver.
  • DDH–2007–05 returned 6.71m of 3.62 g/t gold including 1.33m grading 12.20 g/t gold and 24.30 g/t silver.
  • PV–10–08 returned 68.69m of 0.89g/t gold including 32.64m of 1.32g/t gold and 7.53m grading 2.93 g/t gold.

Deposit Type and Model

The PV property area is an intrusion related low–sulphidation epithermal mineralization type system, where deposited gold mineralization is controlled by folded rock and fault structure and closely associated with pyrite. Low–sulphidation epithermal deposits are precious metal–bearing quartz veins, stockworks and breccias which formed from boiling of volcanic–related hydrothermal to geothermal systems.

Regional and Property Geology

The primary rock assemblage underlying the property is the mid–Cretaceous Spences Bridge Group, which is related to continental arc subduction–related volcanism, and includes andesite and dacite flows and breccias; minor basalt and rhyolite; chert and volcanic–clast conglomerates; sandstone, siltstone and mudstone.

Detailed geologic mapping confirmed that the mid–Cretaceous Spences Bridge Group is exposed throughout the majority of the claim area.

Discovery Zone

The NI 43–101 compliant Mineral Resource estimates were calculated on two of these gold prospects, the North Discovery Zone and South Discovery Zone.

The North and South Discovery Zones host a combined inferred mineral resource estimated at 166,000 ounces gold grading 0.511g/t gold in 10,077,000 metric tonnes above a cut–off grade of 0.30g/t gold.

Drilling has defined a gold–mineralized zone over an area roughly 1500m's long that pinches and expands between 140–230 m's wide, dipping shallowly to the west.

The 2012 Field Work Program extended the gold–in–soil anomalous zone, 1 km to the northeast, along the projected Discovery Zone Trend.

In 2013 geochemical sampling work on the property confirmed the continuity of the main soil anomaly and extended its length to 5000 metres indicating the large extent of the mineralizing system.

In 2014, ground magnetics survey was completed. The results of this geophysical survey suggest that the Discovery Trend continues a further 1200m to the south of the previous work into an area that is largely hidden by overburden cover. The geophysical program consisted of 21 lines varying in lengths of 700 meters to 900 meters and was surveyed with readings taken along the lines at 12.5 meter stations.

Prospecting was carried out concurrently with the geophysical survey and despite the extensive overburden cover, an area of scattered epithermal–textured quartz–chalcedony veins was discovered in bedrock and overburden boulders along this new geophysical trend. This new area has been named the QCA Zone. Assays from initial samples collected are pending.

The property is host to a number of other gold prospects.

NIC Zone

The NIC Zone, located approximately 4.5 kilometres northeast of the North Discovery Zone, is described as containing "anomalous gold and silver values along an approximate 20–metre exposure of a brecciated and banded quartz vein structure" (Thomson, 2007).

Bonanza Valley

In 2001 and 2002, prospectors discovered quartz vein and breccia float with distinctive low–sulphidation epithermal textures in a largely overburden–covered area 3–4 kilometres south of the South Discovery Zone. No bedrock source has been found for this float, which returned up to 43.3 g/tonne Au, despite further prospecting, soil geochemistry, trenching and geophysical surveys in the next few years.

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