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GoldHaven Resources Corp. ("GoldHaven" or the "Company") highlights the recent announcement of a US$450 million U.S. government investment in The Elmet Group aimed at expanding domestic tungsten capacity and securing America's tungsten supply chain.
The landmark commitment provides another powerful indication of tungsten's growing strategic importance to national security, defence, aerospace and advanced manufacturing.
Highlights
- US$450 million U.S. government investment in The Elmet Group announced to strengthen America's domestic tungsten supply chain.
- More than 800 metres drilled at GoldHaven's historic Kuhn tungsten system in northern British Columbia.
- Broad skarn intervals encountered, including approximately 20 metres of skarn in the second drill hole. Assays are pending.
- Historical drilling returned 13.0 metres grading 0.55% WO₃ and 11.3 metres grading 0.59% WO₃ with 0.10% MoS₂.*
- Historical estimate of approximately 616,500 tonnes grading 0.48% WO₃ across four modelled lenses.*
"Tungsten is increasingly recognized as one of the world's most strategically important critical minerals," said Rob Birmingham, President and CEO of GoldHaven. "The message coming out of Washington is increasingly clear: securing reliable and diversified sources of tungsten is now a national-security priority. This landmark investment comes at an exciting time for GoldHaven as we advance drilling at the historic Kuhn tungsten system within our 100%-owned Magno Project in northern British Columbia."
GoldHaven's maiden diamond drill program at Kuhn is targeting the geometry, continuity and potential extensions of the historically documented tungsten-bearing skarn system. More than 800 metres have now been drilled from the first drill pad, with laboratory assay results pending.
Current drilling at the Kuhn tungsten system and representative core from the program are shown below. Core descriptions are based on visual observations; laboratory assays are pending.
Kuhn drill site, Magno Project — diamond drilling underway at the Kuhn tungsten system, northern British Columbia.
GOH26-02, 60.50–60.75 m — reddish garnet skarn with visible molybdenite blebs and widespread chlorite alteration.
Historical drilling at the Kuhn tungsten system reportedly returned intercepts including 13.0 metres grading 0.55% WO₃ and 11.3 metres grading 0.59% WO₃ and 0.10% MoS₂. Historical work also outlined an estimate of approximately 616,500 tonnes grading 0.48% WO₃ across four modelled lenses at the Kuhn–Dead Goat system. These historical results and estimates pre-date NI 43-101 and have not yet been independently verified through GoldHaven's current drilling program.
The historical estimate and drilling results pre-date NI 43-101 and should not be considered a current mineral resource or mineral reserve. A Qualified Person has not completed sufficient work to classify the historical estimate as a current mineral resource, and GoldHaven is not treating the historical estimate as a current mineral resource. Historical results are not necessarily indicative of future results.
Located in British Columbia's established Cassiar mining district, the Magno Project provides GoldHaven with exposure to tungsten, alongside silver, lead, zinc, copper, gold and indium, within a stable and strategically aligned North American jurisdiction.
GoldHaven believes the announcement reinforces the importance of developing secure mineral supply chains outside traditional sources of supply and highlights the potential strategic relevance of tungsten projects located in the United States and allied jurisdictions, including Canada.
As governments continue directing substantial capital and policy support toward strengthening domestic and allied mineral supply chains, GoldHaven believes the tungsten sector is entering an increasingly important period of investment, development and consolidation.
The race to secure critical minerals is no longer a future story—it is happening now.
The US$450 million investment relates specifically to The Elmet Group. GoldHaven is not a recipient of the investment and has no relationship with The Elmet Group.
Qualified Person:
The technical and scientific information contained in this news release has been reviewed and approved by Raymond Wladichuk, P.Geo., who is a non-independent Qualified Person as defined under NI 43-101 and a consultant to the Company.
About GoldHaven Resources Corp.
GoldHaven Resources Corp. is a Canadian junior exploration company focused on advancing highly prospective mineral projects in North and South America. The Company's flagship asset is the district-scale Magno Project in the Cassiar District of northern British Columbia. GoldHaven also owns the Three Guardsmen copper-gold project in British Columbia and the Copeçal Gold Project in Mato Grosso, Brazil. In addition, the Company holds a portfolio of critical mineral projects in Brazil.
On Behalf of the Board of Directors
Rob Birmingham, President and Chief Executive Officer
For further information, please contact:
Rob Birmingham, CEO
www.GoldHavenresources.com
info@goldhavenresources.com
Office Direct: (604) 629-8254
Neither the CSE nor its Regulation Services Provider (as that term is defined in the policies of the CSE- Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Cautionary Statements Regarding Forward Looking Information
This news release contains forward-looking statements and forward-looking information (collectively, "forward looking statements") within the meaning of applicable Canadian and U.S. securities legislation, including the United States Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, included herein including, without limitation, those listed below under the heading "Forward-Looking Statements in This News Release" are forward-looking statements. Although the Company believes that such statements are reasonable, it can give no assurance that such expectations will prove to be correct. Forward-looking statements are typically identified by words such as: "believes", "will", "expects", "anticipates", "intends", "estimates", "plans", "may", "should", "potential", "scheduled", or variations of such words and phrases and similar expressions, which, by their nature, refer to future events or results that may, could, would, might or will occur or be taken or achieved. In making the forward-looking statements in this news release, the Company has applied several material assumptions, including without limitation, that there will be investor interest in future financings, market fundamentals will result in sustained precious metals demand and prices, the receipt of any necessary permits, licenses and regulatory approvals in connection with the future exploration and development of any future projects in a timely manner, the availability of financing on suitable terms for exploration and development of future projects and the Company's ability to comply with environmental, health and safety laws.
The Company cautions investors that any forward-looking statements by the Company are not guarantees of future results or performance, and that actual results may differ materially from those in forward-looking statements as a result of various factors, including, operating and technical difficulties in connection with mineral exploration and development activities, actual results of exploration activities, the estimation or realization of mineral reserves and mineral resources, the inability of the Company to obtain the necessary financing required to conduct its business and affairs, as currently contemplated, the inability of the Company to enter into definitive agreements in respect of possible Letters of Intent, the timing and amount of estimated future production, the costs of production, capital expenditures, the costs and timing of the development of new deposits, requirements for additional capital, future prices of precious metals, changes in general economic conditions, changes in the financial markets and in the demand and market price for commodities, lack of investor interest in future financings, accidents, labour disputes and other risks of the mining industry, delays in obtaining governmental approvals, permits or financing or in the completion of development or construction activities, changes in laws, regulations and policies affecting mining operations, title disputes, the inability of the Company to obtain any necessary permits, consents, approvals or authorizations, including by the Exchange, the timing and possible outcome of any pending litigation, environmental issues and liabilities, and risks related to joint venture operations, and other risks and uncertainties disclosed in the Company's latest interim Management's Discussion and Analysis and filed with certain securities commissions in Canada. All of the Company's Canadian public disclosure filings may be accessed via www.sedarplus.ca and readers are urged to review these materials.
Readers are cautioned not to place undue reliance on forward-looking statements. The Company undertakes no obligation to update any of the forward-looking statements in this news release or incorporated by reference herein, except as otherwise required by law.
Forward-Looking Statements in This News Release
The following statements in this news release constitute forward-looking information:
- the Company's objectives for its current diamond drill program at the Kuhn tungsten system, including testing the geometry, continuity and potential extensions of the historically documented tungsten-bearing skarn system;
- the potential for extensions of tungsten-bearing skarn mineralization at the Kuhn tungsten system beyond areas that have been historically drilled;
- GoldHaven's belief regarding the potential strategic relevance of tungsten projects located in the United States and allied jurisdictions, including Canada, as governments seek to strengthen secure critical-mineral supply chains outside traditional sources of supply; and
- the Company's expectations that continued government investment and policy support for domestic and allied critical-mineral supply chains may contribute to increased investment, development and consolidation within the tungsten sector.
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/ecc3fe6d-4b66-4a8f-83c9-2c1fb60f4e39
https://www.globenewswire.com/NewsRoom/AttachmentNg/8e8e3f1b-5ea1-46b6-9013-fa3539695a12
