Northwire Canada EditionFriday, July 31, 2026
Sign inSubscribe
Northwire
⌕
NMI 0.195 +0.0% TKO 9.87 +4.4% ELD 45.89 +2.2% DG 0.045 +12.5% TNGD 6.33 +3.4% DPM 52.30 +6.1% EPL 0.180 +2.9% NTH 0.160 +3.2% GGM 0.035 +0.0% ITR 3.01 +4.9% CS 13.25 +3.5% EMO 0.325 +1.6% CAN 0.050 −9.1% MOON 7.40 +3.4% FG 0.035 +0.0% SBMI 0.125 +0.0% NMI 0.195 +0.0% TKO 9.87 +4.4% ELD 45.89 +2.2% DG 0.045 +12.5% TNGD 6.33 +3.4% DPM 52.30 +6.1% EPL 0.180 +2.9% NTH 0.160 +3.2% GGM 0.035 +0.0% ITR 3.01 +4.9% CS 13.25 +3.5% EMO 0.325 +1.6% CAN 0.050 −9.1% MOON 7.40 +3.4% FG 0.035 +0.0% SBMI 0.125 +0.0%
Drill Results

Westhaven Gold begins drilling at Shovelnose

By The Northwire Desk — AI Analysis Feb 17, 2026 · 11:30 WHN · 0.225 Westhaven Gold Corp.
WHN · Price

Executive Summary

  • Westhaven Gold Corp. has commenced drilling at its Shovelnose gold and silver project in Southern British Columbia, marking the start of a major 2026 exploration and resource definition campaign.
  • The company plans an approximately $20-million, 50,000-metre drilling program for 2026, contingent on the outcome of a special shareholder meeting regarding a proposed transaction with Dundee Corp.
  • The program is described as the most extensive ever undertaken at Shovelnose, aiming to advance the project's development potential and target new discoveries.

Key Details

  • Drilling Program Scope: Approximately $20-million budget for 50,000 metres of drilling planned for 2026.
  • Equipment: Up to four drill rigs expected to be utilized.
  • Strategic Focus: Initial work will focus on resource infill drilling at the South zone to strengthen and expand the existing resource base, followed by exploration drilling as additional rigs are mobilized.
  • Contingency: The program is subject to the outcome of a special meeting of Westhaven shareholders to consider a proposed transaction with Dundee Corp. (previously announced in a news release dated Dec. 22, 2025).
  • Project Background (Shovelnose):
    • Located in the Spences Bridge gold belt, Southern British Columbia.
    • 2025 Preliminary Economic Assessment (PEA) highlights:
      • 11-year underground gold mining opportunity.
      • Average annual Life-of-Mine (LOM) production: 56,000 ounces of gold and 313,000 ounces of silver.
      • After-tax Net Present Value (NPV): $454 million (at a 6% discount rate).
      • Internal Rate of Return (IRR): 43.2%.
      • Base-case parameters: $2,400/oz Au, $28/oz Ag, and CAD/USD exchange rate of 0.72.
  • Company Profile: Westhaven controls approximately 60,263 hectares across four gold properties in the Spences Bridge gold belt.

Notable Quotes

  • Ken Armstrong, President and CEO: "With drilling under way, we have launched what we believe will be a transformational 2026 program at Shovelnose. The drilling is designed to advance the project's high-margin, low-cost development potential while targeting additional gold and silver discoveries across the property."
  • Ken Armstrong, President and CEO: "This represents the most extensive drilling campaign ever undertaken at Shovelnose."
Read the original news release →

More from Westhaven Gold Corp.

Jul 28, 2026 · 07:00

Westhaven’s infill drilling at Shovelnose confirms high-grade epithermal gold continuity with a flagship hole of 27.5m at 14.5 g/t Au.

Drill Results Jul 07, 2026 · 07:00

Westhaven infill drilling confirms continuity at its project while launching exploration without identifying a new discovery.

Drill Results Jun 16, 2026 · 10:31

Westhaven Gold advances Shovelnose drilling and its Dundee partnership despite facing pre-revenue liquidity constraints.

M&A / Property May 26, 2026 · 07:00

Westhaven Drill Results Validate Shovelnose PEA Economics Amidst Dundee Partnership Execution

Drill Results May 13, 2026 · 07:00

Westhaven Gold Corp.

Drill Results May 07, 2026 · 07:00

Westhaven Gold Corp. Initiates PFS Following Dundee Partnership and High-Grade Drill Intercepts

Drill Results