Core Insights - Westhaven Gold Corp. has successfully completed an upsized summer drilling program at its 100%-owned Shovelnose Gold Project, confirming the resource model and validating a new exploration model for potential gold mineralization [1][3][6]. Drilling Program Overview - The 2025 summer drilling program consisted of 13 drill holes totaling 6,202 meters, which is more than double the initially planned 3,000 meters [4][6]. - Drilling focused on structural and geochemical targets, confirming significant structural offsets and the presence of epithermal mineralization [3][6]. Resource Confirmation - Drill holes SN25-432 and SN25-442 confirmed the resource model by intersecting expected intervals of epithermal mineralization, including notable grades of gold and silver [7][8]. - The South Zone resource model has been validated, indicating strong potential for additional epithermal gold systems [6][14]. Economic Assessment - The March 2025 Preliminary Economic Assessment (PEA) outlines an 11-year underground mining opportunity with an after-tax NPV of CAD$454 million and an IRR of 43.2% at a gold price of US$2,400 per ounce [6][19]. - Initial capital costs are projected at CAD$184 million, with a payback period of 2.1 years [19]. Strategic Location - The Shovelnose project is strategically located 2.5 hours from Vancouver, providing direct road and power access, which significantly reduces exploration and development costs compared to more remote projects [6][19]. Exploration Potential - The exploration program has identified a 100 km strike extent of the Spences Bridge Gold Belt, with over 1,800 geochemical samples collected, indicating substantial regional exploration potential [6][19]. - The company aims to continue systematic exploration drilling to unlock new discoveries and prepare for integrated engineering and environmental studies for project development [14][19]. Technical Leadership - Westhaven's technical team has been strengthened with new appointments, including CEO Ken Armstrong and other key positions, bringing world-class expertise to the exploration and development strategy [6][19].