Westhaven Gold (TSXV: WHN) is preparing to release an updated preliminary economic assessment (PEA) at the end of this month for its main Shovelnose project that sits on the Spences Bridge gold belt in southern British Columbia.
CEO Gareth Thomas says that the project, whose 2023 PEA boasted an after-tax net present value of $222 million and an internal rate of return of 32%, has drawn $11.5 million in investment from industry heavyweights Rob McEwen and Franco-Nevada (TSX: FNV; NYSE: FNV).
“That was a big stamp of approval for them to be involved,” Thomas said last month during the AME Roundup conference in Vancouver. “I think they see the potential of this underexplored gold belt in this area. Westhaven would be one of the frontier leaders moving this belt hopefully through to fruition.”
With its updated PEA coming out soon, Westhaven is looking forward to releasing drill results in the coming months, after favourable weather conditions at their project near Merritt allowed them to start drilling on Feb. 1.
Watch the full chat below with The Northern Miner’s western editor, Henry Lazenby. JV videos are paid-for content in arrangement with The Northern Miner.
February 4, 2025
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