GoldHaven Identifies New 2.5-Kilometre-Long Cu-Au-Zn Mineralization Trend at Smoke Mountain
Vancouver, January 18, 2022 - GoldHaven Resources Corp. (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS) ("GoldHaven" or the "Company") is pleased to report the rock grab and stream sediment (silt) sample results from the fall reconnaissance mapping, prospecting and sampling program completed at the Company's Smoke Mountain Property. Smoke Mountain is strategically located in the Central British Columbia Porphyry-Epithermal Belt, 15 km northeast of Surge Copper's Berg project, and 23 km north of the Imperial Metals Huckleberry project (Figure 1).
Daniel Schieber, GoldHaven's CEO, stated: "We are very encouraged by the results of the 2021 Phase I exploration program at Smoke Mountain. Smoke Mountain is situated in an 85 kilometre belt of rocks that are prospective for structurally-controlled gold-silver-zinc epithermal deposits as well as for porphyry copper-gold deposits. The first exploration program yielded the discovery of a significant new trend of copper, gold and zinc mineralization, in addition to new prospective drainages for follow-up in 2022."
Field Program at Smoke Mountain
GoldHaven completed a 7-day Phase 1 reconnaissance mapping, sampling and prospecting exploration program in September, 2021. Twenty-two rock samples were collected as well as 14 stream sediment samples during the first-pass exploration program. Highlight results from the rock grab (Table 1; Figure 2) and stream sediment (Figure 3) sampling program are as follows:
- Up to 0.70 g/t Au sampled in outcrop (rock grab sample; Table 1). The highest gold in stream sediment result was 0.22 g/t Au.
- Zinc sampling up to 1.96% Zn in rock.
- Silver in rock samples up to 30.5 ppm Ag. Stream sediment results up to 0.84 ppm Ag.
- Up to 5050 ppm Cu (0.5% Cu) in rock grab samples.
All rock samples were collected from outcrop with one float sample exception (Table 1). Alteration in the samples is dominated by quartz-silica with local sericite and potassic domains, and associated quartz +/-epidote veins which are locally stock-work style. Mineralization identified includes chalcopyrite, malachite and galena with associated iron oxides.
The distribution of anomalous Cu-Au-Zn rock samples demarcates a newly-identified, open-ended northeast trend measuring at least 2.5 km. The highly anomalous gold in stream sediment result (0.22 ppm Au) corresponds to a new area (west of the 2.5 km mineralization trend). The highest silver stream sediment result (0.84 ppm Ag) is situated in a new unexplored area in the northwest part of the property. All of these target areas are prioritized for prospecting, mapping and follow-up work in 2022. Upcoming geological mapping work in 2022 aims to further understand the setting of the newly identified Cu-Au-Zn mineralization within the framework of this extensive polymetallic belt.
Plans for 2022 include flying Lidar and aeromagnetic surveys in addition to follow-up geological mapping, prospecting and sampling programs with the objective of expanding the new mineralized zones. The Smoke Mountain property is highly prospective for gold, copper, silver and zinc and the land position is road accessible from Houston, BC.
Table 1. Rock sample results from the Fall 2021 reconnaissance mapping and sampling program. Sample coordinates are given as NAD83 UTM zone 9.
| Sample ID | Easting (m) | Northing (m) | Au (ppm) | Cu (ppm) | Zn (ppm) | Ag (ppm) |
| 149201 | 615580 | 5973994 | 0.019 | 3310 | 90 | 0.9 |
| 149202 | 615586 | 5973993 | 0.021 | 2380 | 100 | 2.5 |
| 149203 | 615583 | 5973994 | 0.053 | 1610 | 83 | 5.1 |
| 149204 | 615506 | 5973935 | 0.169 | 5050 | 403 | 10.2 |
| 149205 | 615505 | 5973936 | 0.176 | 3500 | 433 | 7.1 |
| 149206 | 615372 | 5974056 | 0.009 | 4520 | 161 | 2 |
| 149207 | 615381 | 5974074 | 0.0025 | 260 | 83 | 0.25 |
| 149208 | 614227 | 5972867 | 0.011 | 80 | 39 | 0.25 |
| 149209 | 614477 | 5972886 | 0.108 | 1570 | 115 | 1.8 |
| 149210 | 614476 | 5972875 | 0.03 | 19 | 32 | 0.25 |
| 149211 | 614545 | 5972867 | 0.696 | 392 | 19600 | 30.5 |
| 149212 | 614520 | 5972873 | 0.152 | 1755 | 66 | 1.3 |
| 149213 | 616924 | 5974573 | 0.008 | 53 | 382 | 0.25 |
| 149214 | 616885 | 5974531 | 0.015 | 1765 | 36 | 4.5 |
| 149216 | 616900 | 5974386 | 0.007 | 45 | 56 | 1.7 |
| 149217 | 616744 | 5974385 | 0.0025 | 250 | 361 | 0.25 |
| 149218 | 615372 | 5976836 | 0.0025 | 323 | 53 | 0.7 |
| 149219 | 614437 | 5976505 | 0.0025 | 100 | 121 | 0.25 |
| 149220 | 614495 | 5976132 | 0.014 | 40 | 140 | 0.25 |
| 149221 | 611741 | 5973214 | 0.0025 | 62 | 88 | 0.25 |
| 149222 | 615189 | 5973386 | 0.006 | 120 | 70 | 0.25 |
| 149223 | 617004 | 5975519 | 0.0025 | 75 | 143 | 0.25 |
Figure 1. The location of the Smoke Mountain property in the Central BC Porphyry-Epithermal Belt. Note, the mines, deposits and prospects in this part of BC provide geologic context for the Smoke Mountain property, 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/7246/110552_0e70173a64a719f3_002full.jpg
Figure 2. Rock grab sample results from initial mapping, prospecting, and sampling at GoldHaven's Smoke Mountain Project. Polymetallic mineralization has been discovered over a +2.5km strike length.
To view an enhanced version of Figure 2, please visit:
https://orders.newsfilecorp.com/files/7246/110552_0e70173a64a719f3_003full.jpg
Figure 3. Silt sample results from initial mapping, prospecting, and sampling at GoldHaven's Smoke Mountain Project. The southwest domain showed most anomalous gold and copper, and the eastern area showed most anomalous zinc, and the northwest showing the highest silver. The catchment basin containing the highest gold silt sample is outlined (top left).
To view an enhanced version of Figure 3, please visit:
https://orders.newsfilecorp.com/files/7246/110552_0e70173a64a719f3_004full.jpg
Analytical Methods
The rock samples and the silt samples were sent to ALS minerals, located in North Vancouver, BC. The rocks were crushed, split and pulverized, weighed and treated with a 33 element four acid ICP-AES (ME-ICP61). Rock samples were also analyzed with fire assay (prep code Au-AA23) for gold. The silt samples were dried and sieved and weighed and treated with a 25g trace Au + Multi element PKG (prep code AuME-TL43). Two blank samples were inserted into the rock sampling string for quality control.
Path Forward
In addition to Smoke Mountain, 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 228 km2 in the highly prospective Central Newfoundland Gold Belt and is preparing the two projects for exploration.
Qualified Person
Daniel MacNeil, MSc. 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.
News Release References
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 LIMITED
NI 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
5 https://sunsummitminerals.com/news/2021/sun-summit-drills-31-6-g-t-gold-over-4-0-metres-including-246-g-t-gold-over-0-5-metres-in-the-trench-zone-and-1-07-g-t-gold-over-109-metres-including-7-17-g-t-gold-over-5-2-metres-in-the-horseshoe-zo/
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.
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. The company has also made recent acquisitions in high profile metal belts in British Columbia and Newfoundland.
On Behalf of the Board of Directors
Daniel Schieber
For further information, please contact:
Bonn Smith,
Head of Business Development
www.goldhavenresources.com
bsmith@goldhavenresources.com
Office Direct: (604) 638-3073
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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