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Westhaven Gold Says Dundee-Funded Airborne Surveys Have Begun at Shovelnose Property

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Westhaven Gold (WHN.V) on Wednesday said that airborne geophysical surveys have begun at its Shovelnose Gold and Silver property in southern British Columbia.

These surveys are being funded under a strategic earn-in agreement with Dundee (DC-A.TO) who may earn up to a 60% interest in Westhaven's four Spences Bridge Gold Belt properties by funding up to $85 million in staged project expenditures. Dundee has committed at least $30 million for the first phase, which includes of the geophysical surveys announced today and a 50,000m drill program and pre-feasibility work presently underway, a statement said.

The airborne geophysical surveys will collect 3,800-line km of data over mineral claims that were acquired by Westhaven in 2024. New survey data will be integrated with earlier survey information, as well as results from property wide geochemical sampling programs completed over the last three years.

Data collection is expected to be completed by the end of May, with final data processing and reporting to follow by mid-summer, in time to help guide exploration drilling later this year, Westhaven said.

Westhaven shares edged down $0.01, to $0.31 on Tuesday, on the TSX Venture Exchange, while Dundee shares closed down $0.11, to $4.24 on the Toronto Stock Exchange.

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