Westhaven Launches 50,000m 2026 Drill Program at the Shovelnose Gold and Silver Project, Southern British Columbia
Westhaven Leverages Dundee Partnership for Record 50,000m Drill Program as Strategic Pivot Gains Momentum
The most recent news release (February 17, 2026) announces the launch of a 50,000-metre drill program at the Shovelnose Gold and Silver Project in British Columbia. This program is the most extensive in the company's history, with a projected budget of CDN$20 million for 2026 alone. The campaign involves up to four drill rigs and focuses on resource infill at the South Zone to upgrade and expand the existing resource base, alongside exploration targets across the property. This program is being executed in collaboration with Dundee Corporation following the recently signed CDN$85 million strategic earn-in agreement.
This news is Material - Positive because it demonstrates the immediate deployment of capital from the transformational Dundee partnership. - Scaling Operations: Moving from small-scale campaigns (typically 3,000m-8,000m in 2024-2025) to a 50,000m program is a massive step-change in operational intensity. - Resource De-risking: The focus on infill drilling at the South Zone is a prerequisite for a Pre-Feasibility Study (PFS), moving the project closer to a production decision. - Funding Certainty: The $20M budget is essentially "free" to Westhaven’s treasury, as it forms part of Dundee's $85M expenditure requirement to earn its 60% interest. - Strategic Validation: The involvement of Dundee, coupled with the recent appointment of Patrick Anderson (Fruta del Norte discoverer) to the board, provides high-tier technical and financial validation that was previously missing.
Westhaven Gold Corp. focuses on the Spences Bridge Gold Belt (SBGB) in Southern British Columbia. Its flagship Shovelnose Project is a low-sulphidation epithermal gold-silver deposit. - 2025 PEA Metrics: After-tax NPV6% of $454M and 43.2% IRR at $2,400 gold. - Economics: Low initial capex ($184M) and a 2.1-year payback period make it an attractive development candidate. - Infrastructure: Exceptional access via the Coquihalla Highway, nearby power, and rail, significantly lowering development costs.