West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQX; LRA0:FSE) reported additional shallow gold mineralization from follow-up drilling at the Black Dyke prospect, located 4 kilometers west of the Tyro Main Zone at its Gold Chain Project in Arizona.
The results included hole GC26-144, which intersected 7.6 meters grading 2.22 grams per tonne (g/t) gold from 62.5 meters, and GC26-146, which returned 16.8 meters grading 0.90 g/t gold from 71.6 meters. Both intercepts were within 75 meters of surface. Hole GC26-143 intersected 6.1 meters grading 1.49 g/t gold from 54.9 meters. Holes GC26-149 and GC26-150 returned no significant intercepts, although the company reported that all five holes intersected anomalous gold mineralization.
The five follow-up holes totaled 603.4 meters and followed an initial six-hole, 626.4-meter reverse-circulation drilling program. The holes formed part of West Point Gold's recently completed 21,079-meter 2025-2026 drilling campaign at Gold Chain. All reported widths were downhole, with true widths stated to be greater than 80% of downhole widths.
West Point Gold also recently purchased a data package containing results from historical drilling campaigns across Black Dyke. The package contains 74 holes drilled by Western States Mining Company from 1986 to 1992, including geochemical data, collar locations, and geological cross-sections. It also references 57 reverse-circulation holes drilled by American Copper and Nickel Company, although only collar locations were included for those holes. Thirty-two of the American Copper and Nickel holes were drilled to assist geological mapping by measuring alluvial cover and recording bedrock geology, and did not exceed 30.5 meters in depth.
The company said gold values in the historical data were variable but consistent in value and structural position with its own results. Two historical intercepts exceeding 30 g/t gold were located approximately 200 meters southwest of West Point Gold's drilling. The company said those high-grade historical intercepts require confirmation and will anchor the design of the next drilling campaign. The purchased historical data is considered non-compliant with NI 43-101.
"Our drill results from 2026, combined with the recently acquired historical drill data, provide West Point Gold with a clearer view of the potential at Black Dyke," President and CEO Derek Macpherson stated in the company news release. "Our drilling, along with the recently acquired historical data, suggests that this target warrants further drilling."
Recent drilling at Black Dyke reflects a shallow, southwest-dipping structure hosted by Precambrian granite. The mineralized zone has been described as a vein breccia up to 30 meters wide. The company also reported that geophysical studies are being used to potentially identify controlling structures, including the Roadside Mine fault. Inspection of gravity and magnetic data suggests a northwest-trending structure that may be connected to the Black Dyke gold mineralization.
Resource Estimate and Nevada Programs Set the Next Milestones
West Point Gold identified a maiden mineral resource estimate at the Gold Chain Project as an upcoming catalyst targeted for the third or fourth quarter of 2026. The resource focus is the Tyro Vein System, where the presentation identified an exploration target of 19.5 million to 31.2 million tonnes grading 2.0 to 3.0 g/t gold. The company stated that the potential quantity and grades are conceptual in nature, that insufficient exploration drilling has been completed to define a mineral resource, and that it is uncertain whether further exploration will result in the exploration target being delineated as a mineral resource.
The Tyro Vein System extends approximately 3.4 kilometers and is mineralized from surface, with the system described as open to the northeast, southwest, and at depth. Tyro Main Zone accounts for approximately 1.4 kilometers of that system. The West Point Gold investor presentation also identified a Tyro Northeast Extension of approximately 400 meters and described the Tyro Main Zone as drill-defined over a strike length exceeding 1,000 meters.
Remaining assay results from the completed 21,079-meter Gold Chain drilling program are still pending and represent another upcoming milestone. The broader Gold Chain property contains an approximately 15-kilometer-plus mineralized structural corridor. The Banner-Sheep Trail trend includes Gold Chain Hill, Black Dyke, Banner, and Sheep Trail, while the Frisco Graben-Union Pass trend includes a structural corridor extending approximately 12 kilometers across the project.
The company's Nevada portfolio includes additional planned work. At Baxter Spring in Nye County, West Point Gold is designing and permitting a 5,000-meter drill program. The next steps identified for Baxter Spring include data compilation and geological modeling, integrated geochemical and structural interpretation, and permitting for the drill program. Historical work at the project includes 128 drill holes totaling approximately 13,000 meters, and the company described multiple gold zones within 300 meters of surface.
Streetwise Ownership Overview*
West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQX)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 12/23/24 | AUU:TSXV | 1 | WPG:TSXV | 1 |
| 04/22/24 | AUU:TSXV | 10 | AUU:TSXV | 1 |
| 11/30/18 | AUU:TSXV | 5 | AUU:TSXV | 1 |
| 08/25/98 | AMI:TSXV | 10 | AUU:TSXV | 1 |
At Jefferson Canyon, West Point Gold's partner Kinross is advancing permitting for an initial drill program. The project contains a 4-square-kilometer gold-in-soil anomaly and is located approximately 7 kilometers from the Round Mountain Mine.
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.
FAQs
Important Disclosures:
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of West Point Gold Corp.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- 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.
For additional disclosures, please click here.
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.
