Westhaven Ventures (WHN-V) has received assays of up to 24.5 grams of gold and 107.92 grams of silver per tonne over 17.7 metres from four new holes completed in the South zone at its Shovelnose project, just south of Merritt in British Columbia. The glittering hit included a 6.78-metre zone that averaged 50.76 grams of gold and 203.54 grams of silver per tonne, but lengthy high-grade intercepts were absent in the three other holes, the best of which returned 11.82 grams of gold and 10.92 grams of silver per tonne over four metres.
Gareth Thomas, president and chief executive officer, was pleased with the "widest high-grade drill intercept" yet at Shovelnose, which he points out is 300 metres southeast of a hole that produced 175 grams of gold and 249.55 grams of silver across 1.65 metres. He is hopeful that the remaining three holes will yield promotable assays, as the company observed visible gold in one hole, drilled 100 metres southeast of the best hole to date. Mr. Thomas says that Westhaven is already planning a follow-up drill program that will start early next month.
Grenville Thomas had been earning just $50,000 per year as president and CEO until May, when he turned the reins over to his son Gareth and became chairman. The elder Mr. Thomas, one of Howe Street's more successful denizens, is now in his late 70s but is still active. He is also the unpaid chairman of North Arrow Minerals Inc. (NAR: $0.16) and of Strongbow Exploration Inc. (SBW: $0.16). He is well off, thanks to his success with the Diavik diamond mine in the 1990s -- and decades of exercising options.
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