Northaven Completes Airborne Geophysics at King Solomon Basin Gold/Silver Property
![Northaven Completes Airborne Geophysics at King Solomon Basin Gold/Silver Property](https://www.minenportal.de/media/goldseiten-news.jpg)
The 782.39 hectare KSB property, which is located 25 km southeast of Port Alberni, incorporates two former small mines and a number of known gold and silver mineralized occurrences over a 4.4 km segment of a longer apparent mineralized trend.
The former Black Panther Gold Mine produced 1,715 tones from 1947 to 1950 with reported grades of 9.24 g/t gold and 17.27 g/t silver. Mineralization occurs in gold bearing shears over a distance of 600 meters as well as in the surrounding altered wall rock, with surface samples ranging from nil to 165.66 g/t gold. Prior drilling indicates the Main Shear Zone extends to at least a depth of 150 meters.
Work at the nearby Black Lion Showing identified 2 additional shear zones which appear to be related to the Black Panther main shear with values up to 10.95 g/t gold. Work at the Golden Eagle Showing (1.9km east of the Black Panther) identified a vein of ribbon-quartz that has been traced for 122m along the north west strike and 99 m vertically. Surface assays of up to 93 g/t gold, 103 g/t silver over an average width of 1.1 meters have been reported.
The former Havalah gold mine contains three ribbon-quartz veins with widths from 0.1 to 3 meters and assays ranging from 13.7 - 125.5 g/t gold and 54.9 - 178.3 g/t silver. The mine produced 949 tons from 1936 to 1939 with reported grades of 8.48 g/t gold and 46.0 g/t silver.
Prior geological work on the property was stopped in the early 1980's and appears to have been limited to evaluation of the area immediately surrounding the known mineral occurrences. In spite of recommendations for further testing, no further work was done, due perhaps to low gold and silver prices at the time. There appears to have been no attempt made to establish continuity between the mineral occurrences.
Northaven believes the numerous gold and silver occurrences on the KSB property may be surface expressions of a much larger gold mineralizing system at depth.
Northaven anticipates that data from the now completed ZTEM program (which has a penetration capability of up to 2,000 meters) will assist significantly in confirming the existence and relevant parameters of this system. This ZTEM data, together with information from prior geological work may in turn help identify previously undetected target mineralization which could host a large scale gold and silver deposit, if confirmed by subsequent drilling.
On behalf of the Board of Directors of NORTHAVEN RESOURCES CORP.
Malcolm B. Fraser
President
This news release has been reviewed by Andrew Gourlay,P. Geol., a Qualified Person under National Instrument 43-101. All technical data herein is based on information contained in geological reports or summaries prepared by or on behalf of third parties which have not been independently verified by Mr. Gourlay or the Company, and which remain subject to confirmation by subsequent exploration. This news release may contain assumptions, estimates, and other forward-looking statements regarding future events. Such forward-looking statements involve inherent risks and uncertainties and are subject to certain factors, many of which are beyond Northaven's control, which may cause actual results or performance to differ materially from those currently anticipated in such statements.
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.
Contact Information
Northaven Resources Corp.
Malcolm Fraser, President
604 696-3608
malcolm@northavenresources.com
Northaven Resources Corp.
Allen Leschert, CEO
604 696-3600
allen@northavenresources.com
www.northavenresources.com