Shallow Gold Hits Stretch Over 1KM as New Target Emerges in Expanding Arizona Drill Campaign

West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQB) reported initial drill results from its Sheep Trail and South Tyro targets at the Gold Chain Project in Arizona. The company stated that shallow gold mineralization was intersected at the Sheep Trail target, located approximately 600 meters south of the Tyro Main Zone. The results across the upper portions of Sheep Trail were described as consistent with historical mining activities and surface sampling, suggesting that the area may represent a third potential resource area at the project.

The company reported that drilling at Sheep Trail returned multiple gold intercepts, including 32.0 meters of 1.05 grams per tonne gold starting from 9.1 meters from surface in hole GC26-106. Additional results included 15.3 meters of 1.24 g/t Au (gold) from 19.8 meters in hole GC26-105, 19.8 meters of 1.42 g/t Au from 51.8 meters in hole GC26-111, and 7.6 meters of 2.41 g/t Au from 61.0 meters in hole GC26-113.

West Point Gold stated that Sheep Trail is defined by a strike length greater than 1 kilometer and hosts between one and three zones of gold-bearing quartz veinlets and breccia within a rhyolite dike complex. The company also noted that the South Tyro target was tested, intersecting broad zones of quartz veining and associated alteration with anomalous arsenic and antimony values, with results suggesting that mineralization may be deeper than tested.

The company indicated that the results released cover 4,517 meters of drilling, with 15,173 meters completed to date as part of an ongoing 20,000 meter drill program at Gold Chain. Results remain pending from 32 holes totaling 5,859 meters across the Tyro Main and NE zones, Black Dyke, and Bull 8 targets. West Point Gold also reported that it currently has three rigs operating at the project, including one core rig and two reverse circulation rigs focused on expanding the NE Tyro and Main Tyro zones to depth.

Derek Macpherson, President and CEO, stated in the announcement, "Sheep Trail has delivered meaningful grades over a strike length exceeding one kilometre at shallow depths, confirming it as a third potential resource area at Gold Chain. Results like these underscore the district-scale opportunity that West Point Gold is defining at Gold Chain."

Gold Prices Respond to Geopolitical Developments and Interest Rate Expectations

According to an April 6 report from Bloomberg, gold prices stabilized following recent declines as market participants assessed geopolitical developments and evolving monetary policy expectations. The publication stated that "gold held steady, following a two-day decline, as traders weighed U.S. President Donald Trump’s latest threat to destroy Iranian infrastructure and the impact of a protracted war on economic growth." Bloomberg also reported that bullion had "fallen about 12% since the conflict in the Middle East began at the end of February," while noting that "holdings by gold-backed exchange-traded funds rose last week for the first time since the war began," indicating renewed investor activity during the pullback.

Bloomberg further outlined the relationship between interest rates and gold demand, stating that "higher borrowing costs weigh on gold as the metal doesn’t pay interest," and added that the ongoing conflict had "heightened the prospects that central banks will delay cutting interest rates or even hike them." The report also noted that "cost pressures from the energy-supply shock are also weighing on economic growth, which is supportive for gold."

Kitco reported on April 7 that gold prices moved higher in response to developments in the Middle East, stating that "gold prices have jumped higher early in the overnight session as investors digest news of a potential two-week ceasefire." Spot gold was reported at US$4,809.20 per ounce, representing a gain of more than 2% during the session. The report cited BMO Capital Markets, which stated that "given speculative positioning had reduced significantly since the conflict started, metals are now on firm ground to see further upside as long as positive conflict news flow continues."

Kitco also described broader macroeconomic influences, noting that "rising inflation fears have driven interest rate expectations higher, increasing gold’s opportunity cost as a non-yielding asset," and reported that gold had "dropped more than 11%" in the prior month as investors and central banks sold holdings to meet liquidity needs. Michael Brown, Senior Market Analyst at Pepperstone, stated that "focus will also now fall heavily on the economic damage that the conflict, as well as the surge in energy prices, has wrought on the global economy," referencing inflationary and growth-related pressures.

Investing.com reported on April 7 that gold prices rose alongside broader market reactions to a temporary ceasefire announcement, stating that "gold climbed to almost a three-week high on Wednesday," with spot prices reaching US$4,778.95 per ounce and U.S. gold futures rising to US$4,807.34. The publication noted that "markets reacted swiftly, with oil prices plunging by more than 15% and risk assets rallying, while the dollar came under pressure," contributing to the move in gold prices.

The report also stated that gold had previously faced pressure from rising interest rate expectations, noting that "bullion’s traditional appeal as a safe-haven asset... had come under pressure last month as oil prices surged sharply, stoking inflation concerns and raising expectations that the U.S. Federal Reserve could keep interest rates higher for longer." It added that "gold tends to underperform in elevated rate environments," while indicating that market participants were monitoring inflation data for further signals related to energy price movements.

Buy Ratings with Positive Commentary on Ongoing Drill Program

Third-party analyst coverage reflected positive ratings for West Point Gold. According to FactSet on April 8, 2026, SCP Equity Research analyst Brandon Gaspar gave West Point Gold a Buy rating with a target price of CA$2.40. FactSet also reported that on April 9, 2026, ATB Cormark Capital Markets analyst Nicolas Dion also gave the company a Buy rating with a target price of CA$2.75.

In additional commentary, Bob Moriarty of 321Gold.com stated on March 23, "West Point Gold is fully funded for a 20,000-meter drill program in progress at their Gold Chain property in Arizona. They have hit the ground running. With a 50% decline in the price of their shares in the ongoing gold correction, the shares are now cheap."

Ongoing Drill Program, Testing, and Project Development Activities

The company stated that a 20,000 meter drill program is ongoing at the Gold Chain Project, with 15,173 meters completed to date and additional results pending from multiple targets, including the Tyro Main and NE zones, Black Dyke, and Bull 8.

According to the investor presentation, the company outlined metallurgical testing results expected in Q2 2026 and also indicated that a maiden resource for the Gold Chain Project is targeted for 2026.

In Nevada, the company stated that permitting approval is planned for the Jefferson Canyon project. At the Baxter Spring project, the company outlined plans to design and permit a 5,000 meter drill program.