01:19 PM EDT, 10/09/2025 (MT Newswires) -- GoldHaven Resources ( GHVNF ) shares fell 6%at last look on Thursday after it started its inaugural diamond drilling program at the Copecal Gold project in Mato Grosso State, Brazil.

The company said the first drill hole targeting the East Zone priority target is "progressing well" and is approaching its planned depth of 100 meters. The hole intersected about 30 meters of saprolite before entering "strongly sheared and hydrothermally altered" basement gneiss characterized by pervasive chlorite, sericite, and quartz alteration.

A total of 1,200 meters is planned across 5-6 angled holes testing both East and West Zone targets with holes up to 150 meters depth.

"Early geological observations from COP-25-001 show strong deformation and alteration where saprolite meets basement rock-exactly what we hoped to see," said Chief Executive Rob Birmingham. "While we await assay results, these features validate our targeting model and align with mineralized systems across the Juruena Gold Province."

Shares of the company were last seen down $0.01 at $0.155 on the Canadian Securities Exchange.

Price: 0.16, Change: -0.01, Percent Change: -6.06