en.Wedoany.com Reported - GoldHaven Resources Corp. (GOH:CSE; GHVNF:OTC; 4QS:FSE) has signed a drilling services agreement with Northtech Drilling Ltd., planning to initiate its first fully funded diamond drilling program at the wholly-owned Magno Project in the Cassiar region of northern British Columbia.
Northtech will execute the initial drilling, planned for 5,000 to 7,000 meters, with the exact length subject to final permit approval. The drilling aims to explore historical tungsten mineralization zones and validate other high-priority targets identified in a recent airborne QMAGT survey.
Northtech has over 20 years of operating experience in northern Canada, having completed over 600,000 meters of diamond drilling, and has provided services to mining companies such as De Beers, Anglo American, BHP, and MMG Resources. The drilling program will commence upon receipt of the final exploration permit, with an initial phase of at least 3,000 meters.
GoldHaven stated that the work will focus on validating and expanding historical tungsten mineralization in the Kuhn Zone, while also testing other high-priority targets identified through a regional-scale airborne QMAGT geophysical survey covering over 2,300 line kilometers at the Magno Project.
GoldHaven President and CEO Rob Birmingham stated that signing the contract with Northtech is a significant milestone in the preparation phase for Magno's first drilling campaign, and that Northtech's experience in northern Canadian operations and complex exploration projects makes it an ideal partner. He also emphasized that with financing completed, airborne surveys finished, and the drilling contractor secured, the project is in its final preparation stage, awaiting the permit to commence. Birmingham expects the drilling program to start in August.
The initial drilling at the Magno Project will focus on validating and expanding the historical Kuhn tungsten skarn mineralization, testing the extension of known tungsten-bearing skarn horizons, conducting initial drilling on targets generated by the airborne QMAGT survey, and evaluating other silver-lead-zinc CRD and intrusion-related targets in the area. GoldHaven believes that the combination of historical drilling data, high-grade surface sampling, airborne geophysics, and geological modeling provides the foundation for this exploration.
In June, GoldHaven completed approximately 2,320 line kilometers of QMAGT airborne geophysical survey at the Magno Project, covering over 37,000 hectares of mineral claims. This dataset will be integrated with geological mapping, historical drilling data, and recent high-grade surface sampling results (including sample values up to 2,370 g/t silver, 6,550 ppm tungsten, and 334 ppm indium) to refine drilling target priorities.
The company submitted a National Instrument 43-101 independent technical report for the Magno Project in March. The report shows that grab samples from the Magno and D zones returned results of greater than 25 g/t gold, 2,370 g/t silver, over 20% lead, and 19.25% zinc; 45 of 357 samples exceeded 100 g/t silver; and 334 ppm indium associated with sphalerite represents the highest recorded value in the Cassiar region. Additionally, 32 samples returned values greater than 1,000 ppm tungsten, with a peak of 6,550 ppm at Vines Lake, and tungsten values ranging from 500 to 5,000 ppm in the Kuhn and Dead Goat areas.
Bob Moriarty of 321gold.com told Streetwise Reports that GoldHaven's stock, having fallen from C$0.35 to C$0.16, is now "ridiculously cheap," and the company is expected to advance the Kuhn tungsten project at Magno. He noted that tungsten has become entangled in the rivalry between China and the U.S., with prices tripling over the past year before retracing 50%.
An Artificial Intelligence review by StockInvest.us on July 2 indicated that the stock is at the lower end of a short-term downtrend, which could present a buying opportunity, but a break below the trend bottom of C$0.157 could signal a more pronounced decline. Based on current trends, the stock price is expected to potentially fall 24.68% over the next three months, with a 90% probability of staying between C$0.118 and C$0.223. On June 23, 2026, a buy signal was generated from a pivot low, and the stock has since risen 12.12%. Resistance may be found at the long-term moving average of $0.225, with support at the short-term average of $0.182. Additionally, there is a sell signal from the 3-month Moving Average Convergence Divergence (MACD). Recent declining volume with unchanged price increases risk and reduces the reliability of other technical signals.
According to a TradingView report on July 2, the silver price rose above $61 per ounce, rebounding from a seven-month low. This followed the U.S. adding only 57,000 jobs in June, well below the expected 110,000, while the unemployment rate fell to 4.2% and annual wage growth rose to 3.5%. The probability of a Fed rate hike in September fell below 50%. In the tungsten market, Project Blue estimates its value this year at approximately $16 billion, roughly 5% of the copper market. Tungsten is not traded on major exchanges, and its price increase over the past year has exceeded that of gold and oil.
GoldHaven Resources Corp. has a market capitalization of C$11.81 million, with 63.9 million shares outstanding and a 52-week price range of C$0.09 to C$0.39. Strategic investors hold 7.95% of shares, while retail investors hold 92.05%.
