GoldHaven Acquires Major Land Position in Central Newfoundland Gold Belt, Newfoundland, Canada
Vancouver, July 30, 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 8,175 hectare Pat's Pond and 13,145.5 hectare O'Neill projects located in Central Newfoundland Gold Belt (CNGB), central Newfoundland (Figure 1). The Pat's Pond and O'Neill projects are prospective for epithermal gold and volcanogenic massive sulphide mineralization and are road accessible.
Daniel Schieber, GoldHaven's CEO, comments: "Newfoundland has become one of the best places to explore in Canada. NFG.V, LAB.V and NFLD.CN are great examples of this. These acquisitions supplement our core strategy to expand our ownership of highly prospective projects next to major discoveries. GOH is now very well positioned to unlock value from our 213 Km2 Newfoundland portfolio."
Figure 1. The location of the Pat's Pond and O'Neill properties and selected precious metal bearing prospects and properties in the Central Newfoundland Gold Belt. Note, the mines, deposits and prospects in the Central Newfoundland Gold Belt provide geologic context for the Pat's Pond and O'Neil properties, but this is not necessarily indicative that the Property hosts similar grades or tonnages of mineralization.
To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/7246/91650_f926c16b74f00939_002full.jpg
Pat's Pond and O'Neill Projects
Pat's Pond
The Pat's Pond land position consists of 327 claims covering 8,175 Hectares and is considered prospective for volcanogenic massive sulphides (VMS) and epithermal gold deposits. Precious and base metal mineralization at Pat's Pond occurs in three historical mineral occurrences including Pat's Pond #1, Pat's Pond #2 and the Horn-Mesher.
Mineralization was first identified in the vicinity of Pat's Pond in 1934 where sulphide (sphalerite and galena) and sulfosalt (boulangerite) boulders returned high silver-lead-zinc grades. In July 2008, North Range Exploration identified mineralization in outcrop that returned 119.9 g/ silver 6.20% lead, 4.0% zinc1. In 2010 Puddle Pond Resources Inc. drilled 5 holes at Horn-Mesher. Three of the five holes (584.1 meters) intersected pyritic, silica-chlorite-carbonate altered metavolcanic rocks associated with elevated gold, silver, lead and zinc1. A 2-meter sample (102.40 meters depth) in hole HM-04-10 returned 2.1 g/t gold1. The Pat's Pond #2 occurrence contains a float sample that returned 18.66 g/t gold, 36.7 oz/ton silver, 7.5% lead and 1.1% zinc2. A diamond drill hole at Pat's Pond #2 1.4 meters of 0.31 g/t gold, 3.2 oz/t silver, 0.78% lead and 1.1% zinc2.
O'Neill
The O'Neill claim package consists of 525 claims covering 13,145 Hectares and is considered prospective for VMS and epithermal gold deposits. The land position is underlain by sedimentary and volcanic rocks assigned to the Jonathan's Pond and Indian Bay Big Pond formations which occur near the contact between the Dunnage and Gander Zones in Central Newfoundland.
Path Forward
GoldHaven controls 251 Km2 across 7 assets in the highly prospective Maricunga Gold Belt. The company completed Phase 1 and is preparing its Phase 2 drill campaigns. 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 major deposits.
GoldHaven now controls 206 Km2 in the highly prospective Central Newfoundland Gold Belt and is preparing the two projects for exploration.
Deal Summary
For the option to earn 100% of the Pats Pond and O'Neill claims, GoldHaven shall issue 7,100,000 common shares on or before 5 business days after the effective date. For Pat's Pond, GoldHaven shall issue 1,200,000 shares on the first anniversary of the effective date and 800,000 on the second anniversary of the effective date. The vendors retain a 2% NSR royalty (with the right to re-purchase one-half of the NSR at any time by payment to the beneficial owner of $1,000,000).
Qualified Person
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 highly gold and silver endowed Maricunga Gold Belt of northern Chile. The Maricunga Belt measures 150 Km north-south and 30 Km east-west and is host numerous mines and advanced exploration projects including Salares Norte (Gold Fields), 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 equivalent5; 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
Daniel Schieber
For further information, please contact:
Daniel Schieber,
CEO & Director
www.goldhavenresources.com
Office Direct: (604) 638-5938
REFERENCES
1 Department of Natural Resources Newfoundland and Labrador Mineral Occurrence Database System Report https://gis.geosurv.gov.nl.ca/mods/ModsCard.asp?NMINOString=012A%2F06%2FPb+001.
2 Department of Natural Resources Newfoundland and Labrador Mineral Occurrence Database System Report https://gis.geosurv.gov.nl.ca/mods/ModsCard.asp?NMINOString=012A%2F06%2FAg+001.
3 Department of Natural Resources Newfoundland and Labrador Mineral Occurrence Database System Report
https://gis.geosurv.gov.nl.ca/mods/ModsCard.asp?NMINOString=002E%2F01%2FPb+001.
4McCracken, Tt., Ghouralal, S., Zurowski, G., Holloway, A., Bowell, R., Freudigmann, S., Russell, S., Anstey-Moore, C., Lebreton, R., Hammerdown Gold Project, Newfoundland and Labrador Preliminary Economic Assessment, Prepared by WEP for Maritime Resources Corp. Issue Date: April 15, 2020, Effective Date: February 29, 2020.
4 https://newfoundgold.ca/news/new-found-intercepts-150-3-g-t-au-over-11-5m-at-lotto/.
5 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/.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/91650
