High-Grade Gold Zone Expands Again as 62.5-Meter Drill Hit Extends Arizona Discovery

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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.

West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQX; LRA0:FSE) reported assay results from two additional drill holes completed at the high-grade Northeast (NE) Tyro zone within its Gold Chain Project in Arizona, highlighting intercepts from holes GC26-163 and GC26-166. The results are from the recently completed 21,079-meter drill program and cover 594.3 meters of drilling.

The company reported that hole GC26-166 intersected 62.5 meters grading 3.12 grams per tonne (g/t) gold from 233.2 meters, including 38.1 meters grading 4.70 g/t gold. The intercept has an estimated true width of 30 meters and is located about 20 meters in front of the previously reported hole GC26-148. Hole GC26-163 intersected 54.9 meters grading 2.02 g/t gold, including 19.8 meters grading 4.40 g/t gold beginning approximately 197 meters below surface, with an estimated true width of 25 meters.

According to the company, results from both the Line 950 and Line 1000 sections indicate that the NE Tyro vein is well developed between 300 and 350 meters below surface. The company also stated that the NE Tyro zone remains open to depth and to the northeast toward the Frisco Graben target.

West Point Gold said assays remain pending for 4,907 meters of drilling completed at the Tyro Main Zone and Black Dyke targets. The company stated that all drill data is currently being compiled, evaluated, and analyzed as part of its maiden resource estimate, which is expected to be released later in 2026.

Derek Macpherson, President and CEO, said in a company news release, "Drilling this year at NE Tyro has materially expanded the zone to depth and to the northeast. More importantly, the results indicate that this high-grade zone remains open in multiple directions. We believe the consistency of the mineralization, the high grades, and the apparent widening of the zone at depth bode well for the pending maiden resource and the upcoming drill program. A key focus of West Point Gold's next drill program is to continue expanding NE Tyro at depth and along strike."

Gold Prices Held Near Record Levels as Markets Monitored Interest Rates and Geopolitical Developments

As of 5:42 a.m. EDT on July 30, the live spot price of gold was US$4,078.68 per ounce, up US$3.44, or 0.08%, on the day. Silver traded at US$58.54 per ounce, platinum at US$1,622.80 per ounce, and palladium at US$1,298.40 per ounce.

According to a July 30 Reuters report by Sukanya Mitra, gold prices held steady after the U.S. Federal Reserve left interest rates unchanged, while investors also monitored renewed tensions in the Middle East. Spot gold traded at US$4,062.30 per ounce during the session, while U.S. gold futures for August delivery rose 0.7% to US$4,060.60.

Reuters reported that the Federal Reserve kept its benchmark rate in the 3.50% to 3.75% range, while Federal Reserve Chair Kevin Warsh reaffirmed the central bank's commitment to lowering inflation. The report also noted that renewed U.S. military strikes in Iran and higher oil prices added to inflation concerns.

Giovanni Staunovo, an analyst at UBS, told Reuters that "Higher oil prices keep the market expecting the Fed's next move to be a rise in policy rates, which is not helping gold." He added, "To see gold rising, we need an improvement in investment demand, and that requires market participants to shift expectations towards rate cuts."

A separate Reuters report, published by CNBC on July 29, said gold prices edged higher as markets assessed the Federal Reserve's policy decision and comments from Warsh. Spot gold rose 0.3% to US$4,076.29 per ounce after gaining as much as 2% the previous day, while U.S. gold futures for August delivery advanced 1% to US$4,073.60.

Edward Meir, an analyst at Marex, told Reuters that "The markets were surprised, and somewhat disappointed by Warsh and his general approach," adding, "The markets have gone up to fight inflation, but he doesn't seem to be doing much, and so this has helped gold go up."

The Reuters report also noted that while gold has traditionally been viewed as an inflation hedge, it "loses its appeal as a non-yielding asset in a high-interest-rate environment." It added that investors were awaiting the release of June U.S. Personal Consumption Expenditure data while continuing to monitor geopolitical developments in the Middle East.

Third-Party Commentary Followed Strong Drill Results

In a June 14 initiation report, Don MacLean, Don Blyth, Lauren McConnell, and Hank Lorimer of Paradigm Capital initiated coverage of West Point Gold Corp. with a Speculative Buy rating and a 12-month target price of CA$3.30. The analysts described Gold Chain as "a low-sulphidation epithermal system with two well-defined primary zones, excellent infrastructure and drill programs that have been delivering impressive results through 2025 and 2026."

Paradigm estimated that the Tyro Main and Northeast Tyro zones contained approximately 1.1 million ounces of gold grading 2.1 grams per tonne (g/t), including approximately 0.6 million ounces grading 3.5 g/t at the Northeast Tyro zone. The firm stated it believed the company's late-2026 maiden resource target of 1.5 million to 2.0 million ounces grading 1 to 2 g/t was "well within reach."

The report highlighted continued expansion of the Northeast Tyro zone, stating that "NE Tyro has been expanding materially with each round of step-out drilling, with the most recent holes extending the zone by 100 meters along strike and 100 meters at depth, bringing it to 400 meters of strike length." The analysts added that "Together, the two zones provide Gold Chain with what we believe is an economic project," while noting that "NE Tyro appears to have the most upside; open at depth and to the northeast."

Paradigm estimated the Northeast Tyro zone contained 5.2 million tonnes grading 3.5 g/t gold for approximately 0.6 million ounces and wrote, "We see good visibility for NE Tyro to deliver 0.8Moz or more, with further potential if the zone continues to depth, which we expect." The report concluded that "Our economic analysis indicates a robust project is already in hand," adding that "The current CA$1.10 share price looks well underpinned by what has already been found."

In a July 14 report, Ron Struthers of PlayStocks wrote that West Point Gold "is expected to deliver a maiden resource estimate near the end of this year." He stated that "Tyro has produced repeated high-grade, broad drill intersections, and the mineralized zone appears to be widening at depth." Struthers also described Gold Chain as "a low-sulphidation epithermal gold system" and wrote that "The broader project contains several mineralized structural corridors rather than a single isolated vein," adding, "That district-scale footprint is important."

Also on June 23, Bob Moriarty of 321gold.com commented, "West Point Gold just released a giant 435 gram/meter hole assaying 66.2 meters of 6.57 g/t gold. That's a big home run for the company."

On July 29, Chen Lin of What is Chen Buying? What is Chen Selling? wrote, "WPG.v continued to hit high grade gold, 62.5m at 3.1 g/t Au, Including 38.1m at 4.66 g/t Au. The zones continue to be wider and higher grade at depth. They are working on a maiden resource by the end of year."

Resource and Exploration Milestones

According to the company's July 2026 investor presentation, the Gold Chain Project includes a defined high-grade system at the Tyro Main Zone, multiple targets across a large mineralized corridor, and an active 20,000-meter drill program. The presentation states that a maiden resource is targeted in 2026.

The presentation also outlines several exploration areas within the Gold Chain Project. At the Tyro Vein System, the company describes a primary resource area hosted within a 3.4-kilometer structure, with near-term step-out targets identified along the trend. The Bull 8 target is described as a district-scale structural corridor extending approximately 12 kilometers across the project, while Sheep Trail and Black Dyke are identified as potential resource areas with drilling completed to evaluate shallow mineralized zones.

Beyond Arizona, the investor presentation describes three Nevada projects. At Baxter Spring, the company is conducting data compilation, geological modeling, integrated geochemical and structural interpretation, and permitting for a 5,000-meter drill program during 2026. At Jefferson Canyon, the presentation states that partner Kinross is advancing permitting for an initial drill program. At Tip Top, the company describes a high-grade epithermal system identified through historical drilling and a gold-in-soil anomaly extending approximately three kilometers.

Ownership & Share Information¹

West Point Gold Corp. has a market cap of CA$180.83 million, with 135.97 million shares outstanding. The company's 52-week range is CA$0.29-CA$2.17.

Institutions own 25.7% of shares, while Management & Insiders own 6.3%. The remaining 68% of shares are held by Retail.

West Point Gold FAQ

What did West Point Gold announce?

West Point Gold Corp. announced assay results from two additional drill holes at the Northeast (NE) Tyro zone of its Gold Chain Project in Arizona. The company reported high-grade gold intercepts from holes GC26-163 and GC26-166, with drilling completed as part of its 21,079-meter exploration program.

What were the latest drill results from the Gold Chain Project?

The latest reported results included hole GC26-166, which intersected 62.5 meters grading 3.12 grams per tonne (g/t) gold, including 38.1 meters grading 4.70 g/t gold. Hole GC26-163 intersected 54.9 meters grading 2.02 g/t gold, including 19.8 meters grading 4.40 g/t gold.

Where is the Gold Chain Project located?

The Gold Chain Project is located in Arizona and is West Point Gold's flagship exploration project.

What is the Northeast Tyro (NE Tyro) zone?

The Northeast Tyro zone is a high-grade mineralized area within the Gold Chain Project. According to the company, recent drilling continued to define the zone between approximately 300 and 350 meters below surface, and it remains open to depth and toward the northeast.

What does "open at depth" mean?

When a mineralized zone is described as "open at depth," it means drilling has not yet defined the lower limit of the mineralization, and exploration may continue beyond the currently tested area.

How much drilling has West Point Gold completed?

The company stated the reported drill holes were part of a recently completed 21,079-meter drill program at the Gold Chain Project.

Are additional drill results still pending?

Yes. West Point Gold said assay results remain pending for 4,907 meters of drilling completed at the Tyro Main Zone and Black Dyke targets.

When is West Point Gold's maiden resource estimate expected?

The company said all drilling data is being compiled and analyzed as part of a maiden resource estimate that is expected to be released later in 2026.

What other exploration targets are part of the Gold Chain Project?

According to the company, additional exploration targets include the Tyro Main Zone, Black Dyke, Sheep Trail, Bull 8, and the Frisco Graben area.

Why are drill intercepts measured in grams per tonne (g/t)?

Gold drill results are commonly reported in grams per tonne, or g/t, which measures the amount of gold contained within one metric tonne of rock. Exploration companies also report the width of mineralized intervals to show how much rock returned those grades.

What is reverse circulation (RC) drilling?

Reverse circulation drilling is a commonly used exploration method that collects rock chips from underground through a drill string. It is widely used to evaluate mineralized zones efficiently over large exploration programs.

What is the significance of the Frisco Graben target?

According to West Point Gold, the Northeast Tyro zone remains open toward the Frisco Graben target, which is one of the exploration areas being evaluated within the Gold Chain Project.

Is West Point Gold listed on U.S. and Canadian stock exchanges?

Yes. West Point Gold trades on the TSX Venture Exchange under the symbol WPG and on the OTCQX market under WPGCF.

What is West Point Gold focused on?

West Point Gold is an exploration and development company focused on advancing its Gold Chain Project in Arizona while also holding exploration projects in Nevada.