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Hidden Intrusion Identified Beneath Nevada Gold Project as Survey Reveals New Structural Target

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Westward Gold Inc. (TSXV: WG, OTCQB: WGLIF) identified a deep-seated igneous stock at its Toiyabe Hills project in Nevada through a 2025 drone magnetic survey, outlining what it calls the Threemile Stock.

Westward Gold Inc. (WG:CSE; WGLIF:OTC; IM50:FSE) reported the identification of a deep-seated igneous stock at its Toiyabe Hills Property in Lander County, Nevada, based on results from a property-wide drone magnetic survey completed at the end of 2025. The feature, referred to as the Threemile Stock, is interpreted to be located near the property's former northern boundary within the footwall of the Hilltop Corridor, a district-scale north-south structural corridor.

The company stated that the magnetic data also highlighted major dike swarms that appear to connect at depth and vector toward the Threemile Stock, forming what it describes as an igneous centre. According to the release, observations consistent with a thermal aureole had previously been mapped at surface and logged in drill holes, including hornfels alteration around the Campfire and SSD Zone target areas.

Following the interpretation of the survey results, Westward expanded its land position northward by staking 168 unpatented mining claims administered by the U.S. Bureau of Land Management. The company's land package now totals 1,015 claims covering approximately 84 square kilometres, with no underlying royalties or obligations other than annual maintenance fees.

The 2025 drone magnetic survey was conducted by MWH Geo-Surveys International Inc. at 50-metre line spacing and an average altitude of 48 metres, with data processing and interpretation completed by J.L. Wright Geophysics. The company noted that a step-out drone magnetic survey is planned to further define the dimensions and characteristics of the Threemile Stock.

Additional baseline exploration programs are planned across the newly acquired ground, including a gravity survey, soil and rock-chip sampling, and detailed geologic and alteration mapping. The company also cited historical data and literature indicating the area may host characteristics associated with Carlin-type gold exploration, including mapped alteration zones, historical sampling, and legacy drilling across Paleozoic sedimentary and Tertiary volcanic rocks.

In a discussion included with the announcement, Chairman Dr. Quinton Hennigh stated, "We have the ground all the way up to the southern edge of the Caetano, and now we have evidence of an intrusion in that neighbourhood. This is getting very interesting."

Gold Markets Navigate Volatility, Inflation Pressures and Geopolitical Uncertainty

According to a March 24 report from Reuters, gold prices had risen nearly 2% as market conditions were influenced by geopolitical developments and shifts in inflation expectations. Spot gold was reported at US$4,552.94 per ounce after previously reaching a four-month low earlier in the week. The report stated that price movements were linked in part to oil market dynamics, noting that "gold is seeing a technical recovery and is also being supported by optimism that hostilities involving Iran may be diminishing, which has helped ease oil prices," as Peter Grant of Zaner Metals said.

Reuters also reported that fluctuations in gold prices were tied to broader macroeconomic factors, including interest rate expectations and capital flows. Analysts at SP Angel stated that "the recent pullback has seen a sharp exit of much of this capital," while also noting that "the recent trend of central bank reserve diversification" had continued, with additional buying activity observed. The report further stated that gold had risen 64% in the prior year and reached an all-time high of US$5,594.82 per ounce in January.

A March 24 segment from BNN Bloomberg described commodities and precious metals as part of a broader response to inflation and geopolitical pressures. Mike Philbrick, CEO of Resolve Asset Management, said that "gold remains a classic hedge against monetary instability, geopolitical stress and declining confidence in policy frameworks," and noted that "broad commodities can help with inflation and geopolitical shocks." He also stated that "we're dealing with a war-driven inflation shock that's rewriting the playbook for portfolio diversification," highlighting the role of commodities in providing exposure to supply disruptions and rising input costs.

Philbrick further explained that "commodities are one of the few areas where investors can gain direct exposure to rising input costs, supply disruptions and geopolitical stress," and added that "gold remains a key diversifier" in an environment where traditional stock-and-bond relationships had shifted due to persistent inflation pressures.

On March 25, commentary from The Gold Advisor described ongoing volatility in gold markets, with prices moving between approximately US$4,100 and US$4,500 per ounce within short periods. Jeff Valks, Senior Analyst, wrote that "price action like this usually means one of two things: it's a holding period or it's a buying period," while also noting that "in the short-term markets still seem to swing between two moods." The commentary referenced factors such as inflation, geopolitical developments, and market structure as contributing to sharper price movements, stating that "a new war, inflation, a mixed message from the Fed… it's nothing new."

Independent Commentary on Campfire Results and Toiyabe Hills Project

In a January 6 contributed opinion, Bob Moriarty of 321 Gold wrote that he had "eagerly awaited months to spotlight" Westward Gold Inc., citing what he described as its "immense potential." He characterized the Toiyabe Hills gold project in Nevada as one that "seeks a proverbial needle in a haystack. But it's a golden needle in elephant country, encircled by bountiful haystacks," and noted that he had "extensive discussions with Chairman Quinton Hennigh about the project's prospects."

According to the January 2026 opinion, Moriarty wrote that the company's team "boasts some of the world's preeminent Nevada Carlin-style geologists" and added, "They're convinced they're on the cusp of a momentous find." Referencing reported drilling results, he stated that "on November 5, 2025, Westward Gold reported 10.7 meters of 0.94 g/t at their Campfire project within Toiyabe," and later wrote that "Hole CF25-07 yielded another intriguing gold whiff with 3.1 meters of 0.80 g/t."

Moriarty also wrote that the company's valuation at Friday's close was approximately CA$29 million and stated, "Mathematically and psychologically, the stock offers superb value." He added, "It will either evaporate or skyrocket." The source did not disclose a formal rating or target price.

In a March 18 note, Jeff Valks wrote that Westward Gold had "wrapped a +7,000-meter Phase I program at Toiyabe Hills and came out with what you want from a first pass: a system that holds together and a zone worth circling back on." He further noted that hole CF25-04 "delivered: 10.7 m of 0.94 g/t Au, including 3.1 m of 2.50 g/t Au."

Valks stated that drilling at Campfire was conducted at spacing of "500-700 meters across roughly 1.5 by 2 km" and described the program as "a scouting mission." He wrote that lower-plate carbonate rocks were encountered in nine of 10 holes, that decalcification was logged at depth, and that gold mineralization appeared alongside arsenic, antimony, mercury, and thallium. He also quoted Dr. Quinton Hennigh as saying the program "accomplished exactly what we expected" and established "high confidence for focused Phase II drilling."

The note also stated that Westward added 110 new claims, bringing its total to 847 claims covering approximately 70 square kilometres and 13 kilometres of strike along the Hilltop Corridor. Valks wrote, "This corridor isn't a side feature - it's the backbone," and noted that the land package had expanded by more than 400% since 2021.

Regarding planned work, Valks wrote that "2026 lines up three zones" consisting of Campfire, SSD, and El Segundo. He stated that two reverse-circulation rigs had been secured and that core drilling was being incorporated, "especially where structure matters more than speed." He also wrote that the company was "adjusting the approach - RC pre-collars with core tails after CF25-09 ran into issues."

Valks wrote, "The stock is a Buy - we love to say 'accumulate on dips' - we're in that dip now," and added that Jeff Clark maintained "an overweight position with no plans to sell." No target price was disclosed in the source.

Ongoing Exploration Programs and Prior Drilling Work

The Westward Investor Presentation outlines that a Phase 1 framework drilling program at the Campfire target complex was completed during Summer and Fall 2025, totaling 7,163 metres of reverse circulation drilling. The campaign exceeded its original scope and represented the first drilling conducted at the Campfire target due to previously fragmented land boundaries and limited systematic data compilation.

The drilling program addressed uncertainty related to the depth to the Lower Plate, which consists of favourable carbonate rocks and regional gold host horizons. The results confirmed the depth to the Lower Plate, providing data relevant to exploration and economic considerations.

The investor presentation also states that campaign direct reverse circulation drilling costs were US$70 per foot, equivalent to US$230 per metre.

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Westward Gold Inc. (WG:CSE;WGLIF:OTC;IM50:FSE)

*Share Structure as of 11/13/2025

In addition, the presentation describes further technical work that may be undertaken, including re-sampling and re-assaying of available core and pulps, verification of assay certificates and digital assay data, verification of selected drill hole collars, and review of geological logs against preserved core and reverse circulation cuttings. It also references the incorporation of AuCN assays to assess metallurgical characteristics, along with verification of mineralization controls, modelling techniques, and incorporation of economic factors to evaluate prospects for eventual extraction.

Ownership and Share Structure1

Management, directors, and advisors hold 9.3% of Westward Gold. Institutional ownership was 23.3%, with Crescat Capital holding the most at 12.1%, Concept Capital Mgmt at 9.9%, and US Global Investors at 1.3%. Keith Neumeyer, CEO of First Majestic Silver, owns 2.7%. EMX Royalty Corp owns 1.3%, Starcore Intl Mines owns 1.7%, and MinQuest Ltd owns 1.5%. The rest are high-net-worth retail investors.

As of the most recent data, Westward Gold Inc. reported approximately 229.3 million shares outstanding and a public float of about 140.60 million shares.

The company's market capitalization stands at roughly CA$34.4 million. Its 52‑week trading range spanned from CA$0.07 to CA$0.165.


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Important Disclosures:

  1. Westward Gold  is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$3,000 and US$6,000.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Westward Gold.
  3. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
  4. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.





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