As consideration, Talisker will receive C$20,000 in cash, a 1% net smelter royalty (NSR) on the claims, and 1.5 million common shares of Westhaven, which traded at C$0.20 apiece at Thursday’s market open. Westhaven has the option to buy back the NSR for C$1 million.
The transaction, said Westhaven, would increase its exposure to the emerging epithermal gold district known as Spences Bridge. The company currently holds four properties along this 110 km northwest-trending belt, home to the Fraser River gold rush.
At Shovelnose, Westhaven’s team has highlighted a corridor that hosts South Zone, FMN and Franz, extends for over 11 km and trends into the new claims to the southeast. The company believes the southeast extent of this corridor is highly prospective for new discoveries, as it contains anomalous epithermal pathfinders.
A recent discovery in this area was the Certes showing, which is located approximately 6 km southeast…
