- Drilling at GOH’s Rio Loa Project begins; major milestone in development to unlock potential of area
- Based on proximity to nearby top-producing projects, GoldHaven anticipates Rio Loa could deliver impressive drill results
- GoldHaven’s high-priority projects, unique land position are starting to yield attractive targets
GoldHaven Resources Group (CSE: GOH) (OTCQB: GHVNF) (FSE: 4QS), a Canadian junior exploration company active in the Maricunga Gold Belt of Northern Chile, has mobilized a drill crew and commenced drilling its 5,000 meter Phase 1 drill campaign at Rio Loa (https://ibn.fm/n18yj).
“This is a major milestone in our development to unlock the potential of our 251-square-kilometer Maricunga district play,” said Goldhaven CEO Daniel Schieber. “Pat Burns and his world-class exploration team managed to get the drill turning on time and on budget. Surface expressions of our pathfinder elements As and Pb are reportedly higher than those at Salares Norte. The 5,000m drill program will take about five to six weeks to complete, and the plan is to deliver results to our shareholders as we go.”
One of GoldHaven’s seven high-priority Maricunga projects, the Rio Loa Project is located 25 kilometers south of Gold Field’s Salares Norte deposit (5.2 million ounces equivalent of gold scheduled to produce 350,000 ounces of gold per annum) and 6 kilometers south of Gold Field’s Horizonte discovery. Based on proximity to nearby top-producing projects, GoldHaven anticipates Rio Loa could deliver impressive drill results. The project has already been subject to trenching, sampling and geophysics; in-fill IP geophysics lines are currently being conducted for further target definition.
Within the Rio Loa project, GoldHaven has identified a three-and-a-half kilometer north-south trending alteration zone that averages one kilometer wide. Recent trenching and rock sampling with numerous erosion windows exposing altered volcanics have returned highly anomalous As and Pb as well as locally anomalous Au and Sb values. This geochemical response is a defining characteristic of many high sulphidation deposits within the Maricunga Gold Belt such as at the Salares Norte mine.
Drilling at Rio Loa began within days of GoldHaven’s announcement that it had hired Drillex Chile SpA to conduct the drilling campaign (https://ibn.fm/g1GqR). The Drillex team comes with more than four decades of experience in exploration and resource-definition drilling, and its members are partners of the Exploration Drill Masters out of Santiago, Chile.
“[GoldHaven’s] seven projects and unique land position (251 square km’s) are starting to yield attractive targets,” stated Burns, GoldHaven’s head of exploration (https://ibn.fm/CyFDQ). “The world-class exploration team is now complete and ready to start our exploration campaign.”
In addition to Rio Loa, GoldHaven has six other high priority assets to test and drill. This will keep the company busy during 2021. The company is intent on advancing its Apolo Project’s Roma and Alicia properties as well as its Coya assets and preparing them for drilling. These targets have been designated as high-priority owing to their extensive and pervasive alteration, favourable geology, structures and highly anomalous rock geochemistry results, as well as their relative proximity to existing deposits.
GoldHaven’s goal is to identify and capitalize on valuable precious metals projects in mineral-rich districts with stable political jurisdictions. In the last 10 years, 100 million ounces of gold have been discovered within the Maricunga Belt.
For more information, visit the company’s website at www.GoldHavenResources.com.
NOTE TO INVESTORS: The latest news and updates relating to GHVNF are available in the company’s newsroom at http://ibn.fm/GHVNF
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