# Westhaven Gold Builds Shovelnose Gold Project Towards PFS as Dundee Funds Development and Discovery Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/westhaven-gold-builds-shovelnose-gold-project-towards-pfs-as-dundee-funds-develo--b24369a4-e110-4894-8d78-219350baa94b Original source: https://www.cruxinvestor.com/posts/westhaven-gold-builds-shovelnose-gold-project-towards-pfs-as-dundee-funds-development-and-discovery Publisher: cruxinvestor Original announcement: 2026-09-29T00:00:00.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-09-29T17:04:41.900Z Atlas analysis updated: 2026-09-29T17:04:41.900Z - Company: Westhaven Gold - Ticker: WHN - Exchange: Unavailable - Region: British Columbia - Primary commodity: Gold - Secondary commodities: Silver - Document categories: Drill results, Agreement transaction - Extracted: 2026-09-29 17:04:42 UTC Narrative sentiment: 0.80 · Bullish ## Minestarters Atlas summary Westhaven Gold has secured up to C$85 million in project-level funding from Dundee Corporation to advance the Shovelnose gold project towards a 2027 PFS. Recent infill drilling at the South Zone continues to return high-grade gold and silver intercepts, supporting the upcoming resource update. Reasoning: The company has secured substantial non-dilutive funding to advance a high-grade gold project towards PFS, while recent drilling continues to confirm mineralization. - Positive factor: Significant project-level funding via Dundee earn-in - Positive factor: High-grade drill intercepts continuing in infill program - Positive factor: Non-dilutive funding structure for corporate shareholders - Positive factor: Strong PEA economics \(43.2% IRR\) - Negative factor: Future pre-production capital requirement for 40% stake - Negative factor: Potential change of operator Facts used in scoring: 4 ## Classification and evidence **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: The document mentions metallurgical work and infill drilling results, though specific lab names for the recent intercepts are not in this snippet, the context of a professional development program is implied. Evidence · text > Metallurgical work has so far supported recoveries above 90% **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: The 2026 programme is described as resource infill at the South Zone deposit. Evidence · text > 35,000m is resource infill at the South Zone deposit ## Extracted facts Stored fact records: 4. Some facts used in scoring do not have a stored record. ## Drill Results (4) ### Fact 1 [Link to this fact](https://atlas-staging.minestarters.com/news/westhaven-gold-builds-shovelnose-gold-project-towards-pfs-as-dundee-funds-develo--b24369a4-e110-4894-8d78-219350baa94b#fact-drill-facts-0) Shovelnose South · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Shovelnose South - Commodity: gold - Region: canada\_bc - Reported Region: canada\_bc - Ticker: WHN #### Geometry - Grade: 5.29 - Grade Unit: g/t - Intercept: 37.89 m #### Classification - Deposit Type: epithermal - Program: resource - Sample Type: drill - Mining Method: underground #### Location - Location: South Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Strong gold intercept with significant width. - Positive factor: High grade \(5.29 g/t\) - Positive factor: Significant width \(37.89 m\) Evidence · text > 37.89m grading 5.29 g/T gold #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "It comprises 50,000m of drilling, of which 35,000m is resource infill at the South Zone deposit." ### Fact 2 [Link to this fact](https://atlas-staging.minestarters.com/news/westhaven-gold-builds-shovelnose-gold-project-towards-pfs-as-dundee-funds-develo--b24369a4-e110-4894-8d78-219350baa94b#fact-drill-facts-1) Shovelnose South · silver Needs review: drill\_no\_hole\_id #### Identity - Project: Shovelnose South - Commodity: silver - Region: canada\_bc - Reported Region: canada\_bc - Ticker: WHN #### Geometry - Grade: 31.9 - Grade Unit: g/t - Intercept: 37.89 m #### Classification - Deposit Type: epithermal - Program: resource - Sample Type: drill - Mining Method: underground #### Location - Location: South Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: Silver byproduct grade in a high-grade gold intercept. - Positive factor: Significant silver credits Evidence · text > 31.9 g/t silver #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "It comprises 50,000m of drilling, of which 35,000m is resource infill at the South Zone deposit." ### Fact 3 [Link to this fact](https://atlas-staging.minestarters.com/news/westhaven-gold-builds-shovelnose-gold-project-towards-pfs-as-dundee-funds-develo--b24369a4-e110-4894-8d78-219350baa94b#fact-drill-facts-2) Shovelnose South · gold Needs review: drill\_no\_hole\_id #### Identity - Project: Shovelnose South - Commodity: gold - Region: canada\_bc - Reported Region: canada\_bc - Ticker: WHN #### Geometry - Grade: 13.09 - Grade Unit: g/t - Intercept: 14 m #### Classification - Deposit Type: epithermal - Program: resource - Sample Type: drill - Mining Method: underground #### Location - Location: South Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: High-grade gold intercept. - Positive factor: High grade \(13.09 g/t\) Evidence · text > 14.00m grading 13.09 g/t gold #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "It comprises 50,000m of drilling, of which 35,000m is resource infill at the South Zone deposit." ### Fact 4 [Link to this fact](https://atlas-staging.minestarters.com/news/westhaven-gold-builds-shovelnose-gold-project-towards-pfs-as-dundee-funds-develo--b24369a4-e110-4894-8d78-219350baa94b#fact-drill-facts-3) Shovelnose South · silver Needs review: drill\_no\_hole\_id #### Identity - Project: Shovelnose South - Commodity: silver - Region: canada\_bc - Reported Region: canada\_bc - Ticker: WHN #### Geometry - Grade: 105.8 - Grade Unit: g/t - Intercept: 14 m #### Classification - Deposit Type: epithermal - Program: resource - Sample Type: drill - Mining Method: underground #### Location - Location: South Zone - Loc. Source: document #### QA/QC - QA/QC Disclosed: Yes - QA/QC Methods: standards, duplicates #### Review - Needs Review: Yes - Review Reason: drill\_no\_hole\_id - Interp. Status: scored - Historical: No #### Dates - Event date: 2026-09-29T00:00:00.000Z Reasoning: High silver byproduct grade in a high-grade gold intercept. - Positive factor: High silver grade Evidence · text > 105.8 g/t silver #### Tags used in scoring **QA/QC Disclosed** Polarity: positive Definition: Release includes QA/QC disclosure — certified lab, QP sign-off, or stated methods \(blanks, standards, duplicates\). Why it applies: qaqc\_disclosed is true **Cut-off Undisclosed** Polarity: negative Definition: High-grade interval reported without stating the cut-off grade used for compositing. Why it applies: no cutoff\_grade was stated **Infill Drilling** Polarity: neutral Definition: Confirmatory drilling to raise resource confidence, not new discovery. Why it applies: drill\_program\_type is "resource" **Nearology Play** Polarity: neutral Definition: Value premise rests on proximity to a known deposit rather than own results. Why it applies: proximity is offered as the value premise: "It comprises 50,000m of drilling, of which 35,000m is resource infill at the South Zone deposit." ## How Atlas produces this analysis Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.