Tuesday, 02 January 2024 12:17 GMT

Gold Stock West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) Intersects 21.3M Of 13.48 G/T Au From 128.0M And 32.0M Of 4.48 G/T Au From 152.4M, Extending Northeast Tyro High-Grade Zone To Over 300M Of Strike Length


(MENAFN- Investor Ideas) (Investorideas Newswire) Breaking Gold Stock News – Investorideas issues a news and trading alert for West Point Gold Corp.(TSXV: WPG ) (OTCQB: WPGCF).

West Point Gold Corp.(TSXV: WPG ) (OTCQB: WPGCF) is pleased to announce the results for four holes from the high-grade zone at Northeast (NE) Tyro, part of the ongoing 15,000 metre (m) drill program at its flagship Gold Chain Project in Arizona. The Company is reporting assay results for four drill holes (954m), GC25-89, GC25-90, GC26-91 and GC26-93.

Highlights:
  • These holes have extended the strike length of the high-grade zone at NE Tyro to more than 300m (Figure 2).
  • Hole GC26-91 returned 21.34m of 13.48 g/t Au from 128.0m to 149.4m, expanding the highest portion of the high-grade zone at NE Tyro to the northeast.
  • Hole GC25-89 returned 32.0m of 4.48 g/t Au from 152.4m to 184.4m, about 30m south of GC25-48 (41.2m at 4.33 g/t Au) and about 100m below surface vein exposures.
  • Hole GC26-93 returned 30.5m of 3.09 g/t Au from 132.6 to 163.1m, expanding the high-grade zone at NE Tyro along strike to the northeast.
  • Hole GC25-90 returned 25.9m of 1.23g/t Au from 256.0m to 281.9m and expands the mineralized zone at NE Tyro along strike to the southwest into an area previously considered to be weakly mineralized.
  • To date, 9,898m of the ongoing 15,000m drill program at the Gold Chain project have been completed, with assays released for 4,194m of drilling. Results are pending from the Tyro Main Zone, South Tyro, Red Hill Ledge, Black Dyke and Sheep Trail targets, representing 30 holes.
  • A third drill rig (core) will commence drilling at Gold Chain in early March, focused on increasing our understanding of the high-grade NE Tyro zone and extending the Tyro Main Zone to depth.

Table 1: Drill Results

Holes

From (m)

To (m)

Width (m)

Grade (g/t Au)

GC25-89

152.4

184.4

32.0

4.48

GC25-90

256.0

281.9

25.9

1.23

GC26-91

128.0

149.4

21.3

13.48

GC26-93

132.6

163.1

30.5

3.09

Note: All widths shown are downhole; true widths are approximately 50-75% of downhole widths.

Figure 1: Plan view of the Main Tyro vein showing geology and drilling conducted in 2021, 2023, 2024, 2025, and 2026. Note the location of Hole Nos. GC25-89, GC25-90, GC26-91, and GC26-93.
Figure 2: Longitudinal perspective of the Tyro Main and NE Zones Showing Core and RC Drilling to Date. Holes GC25-89, GC25-90, GC26-91, and GC26-93 are highlighted and described below.
Summary

Holes GC25-89, GC25-90, GC26-91, and GC26-93 continue to expand and provide improved definition of the high-grade gold mineralization in the NE Tyro zone at the Company's Gold Chain project in Arizona. The four holes comprising this release represent 954.1m of the 9,898m drilled to date in the current 15,000m program.

The hole descriptions below briefly highlight the most recently completed holes across the NE Tyro vein, including the last two holes of the 2025 campaign and the first two holes of 2026. The high-grade Northeast Tyro zone is anchored by a higher-grade core. The entire zone remains open to depth and to the northeast along strike.

West Point Gold will commence core drilling of both the Northeast and Main Tyro zones in early March. With the anticipated receipt of the Plan of Operations (POO) in early March, drilling will continue to track the vein to the northeast toward the Frisco Graben and to depth. Results to date (Figure 2) reveal that high-grade gold mineralization extends below 200m (below surface) and over a strike length in excess of 300m. Receipt of the POO will permit drilling both core and RC holes outside the controlled patented claims, allowing deeper tests and further exploration to the northeast and toward the Frisco Graben target area.

Holes GC25-89 and GC25-90

Hole GC25-89 was designed to provide additional definition of the emerging high-grade zone at its southern end. The hole traversed the vein breccia/stockwork zone at 152.4m to 184.4m (32.0m) containing 4.48 g/t Au. This intersection is about 25m south of hole GC25-48, which contains 41.2m of 4.33 g/t Au, revealing good grade correlation between the two holes. Figure 3 suggests a true width of about 20m for the mineralized zone and a dip of about 74 degrees to the southeast. The intercept's midpoint is about 100m below the surface.

Hole GC25-90 was designed to explore a portion of the vein system that hosts lower grades over broader intervals. GC25-60 encountered 33m (true width) of 1.29 g/t Au in a quartz-calcite stockwork zone, to connect the gold mineralization to the Main Tyro Zone (Figure 2). Hole GC25-90 (this PR) crossed the mineralized zone about 75m down-dip from GC25-60 and traversed 25.9m (apparent width) of 1.23 g/t Au (Figure 2). Additional drilling is warranted in this area but must be conducted at greater depths and collared outside of the patented claims.

Figure 3: Geologic section drawn along GC25-89 showing vein and spatial relation to GC25-48, GC24-34 and the surface.
Holes GC26-91 and GC26-93

Hole GC26-91 was drilled from the northeast corner of the Tyro patent and oriented perpendicular to the NE-trending Tyro structure. The goal was to traverse the high-grade zone at a higher elevation than hole GC25-88 (44.2m of 5.46 g/t Au) but beneath hole GC25-46, which encountered a broad zone of quartz-chlorite alteration with only minor quartz veinlets and negligible gold values. Hole GC26-91 traversed a distinct quartz-adularia vein and vein breccia from 128.0m to 149.4m (21.3m) containing 13.48 g/t Au with an estimated true width of 11.5m (Figure 4). Geologic interpretation, provided in Figure 4, indicates that the vein dips about 70 degrees. Hole GC25-88 crossed the vein about 30m down-dip.

Hole GC25-93 was drilled to the north from the same site as -91 to test the northeast extent of the high-grade zone. The hole encountered the vein at 132.6m to 163.1m (30.5m), which contained 3.09 g/t Au at about 120m below the surface. This intercept supports West Point Gold's belief that the NE Tyro high-grade zone projects toward the Frisco Graben target area and plunges to depth beneath a broad alluvium-filled wash. This area will be the initial target for the deep drilling program to commence upon the receipt of the Plan of Operations.

Figure 4: Cross Sectional View of Hole GC26-91 between Holes GC25-46 and -88.

Table 2: Drill hole locations and descriptions

Hole No.

Azimuth

Inclination

Easting

Northing

Length (m)

(degrees)

(degrees)

GC25-089

0

-55

732236

3901391

236.2

GC25-090

310

-80

732233

3901388

303.3

GC26-091

310

-80

732442

3901573

233.2

GC26-093

0

-70

732443

3901572

181.4

Qualified Person

Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company's Vice President, Exploration, is a qualified person ("QP") as defined by NI 43-101 and has reviewed and approved the technical content of this press release. Mr. Johansing has also been responsible for overseeing all phases of the drilling program, including logging, labelling, bagging and transport from the project to American Assay Laboratories of Sparks, Nevada. Drillholes have a diameter of about 10cm, and samples have an approximate weight of 5 to 10kg. Samples were then dried, crushed and split, and pulp samples were prepared for analysis. Gold was determined by fire assay with an ICP finish, and over-limit samples were determined by fire assay and gravimetric finish. Silver plus 15 other elements were determined by Aqua Regia ICP-AES (IM-2A16), and over-limit samples were determined by fire assay and gravimetric finish. Both certified standards and blanks were inserted on site along with duplicates, standards and blanks inserted by American Assay. The results summarized above have been carefully reviewed with reference to the QA/QC results. Standard sample chain of custody procedures were employed during drilling and sampling campaigns until delivery to the analytical facility.

About West Point Gold Corp.

West Point Gold is an exploration and development company focused on unlocking value across four strategically located projects along the prolific Walker Lane Trend in Nevada and Arizona, USA, providing shareholders with exposure to multiple discovery opportunities across one of North America's most productive gold regions. The Company's near-term priority is advancing its flagship Gold Chain Project in Arizona.

For further information regarding this press release, please contact:

Aaron Paterson, Corporate Communications Manager

Phone: +1 (778) 358-6173

Email:...

Stay Connected with Us:

LinkedIn:linkedin/company/west-point-gold

X (Twitter):@westpointgoldUS

Facebook:facebook/Westpointgold/

Website:westpointgold/


FORWARD-LOOKING STATEMENTS:

Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance and the proposed Offering. Forward-looking statements include estimates and statements that describe the Company's private placement, future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. The use of any of the words "could", "intend", "expect", "believe", "will", "projected", "estimated" and similar expressions and statements relating to matters that are not historical facts are intended to identify forward-looking information and are based on the Company's current belief or assumptions as to the outcome and timing of such future events including, among others, assumptions about future prices of gold, silver, and other metal prices, currency exchange rates and interest rates, favourable operating conditions, political stability, obtaining government approvals and financing on time, obtaining renewals for existing licenses and permits and obtaining required licenses and permits, labour stability, stability in market conditions, availability of equipment, availability of drill rigs, and anticipated costs and expenditures. The Company cautions that all forward-looking statements are inherently uncertain, and that actual performance may be affected by a number of material factors, many of which are beyond the Company's control. Such factors include, among other things: risks and uncertainties relating to the Company's ability to complete any payments or expenditures required under the Company's various option agreements for its projects; and other risks and uncertainties relating to the actual results of current exploration activities, the uncertainties related to resources estimates; the uncertainty of estimates and projections in relation to production, costs and expenses; risks relating to grade and continuity of mineral deposits; the uncertainties involved in interpreting drill results and other exploration data; the potential for delays in exploration or development activities; uncertainty related to the geology, grade and continuity of mineral deposits; the possibility that future exploration, development or mining results may vary from those expected; statements about expected results of operations, royalties, cash flows, financial position may not be consistent with the Company's expectations due to accidents, equipment breakdowns, title and permitting matters, labour disputes or other unanticipated difficulties with or interruptions in operations, fluctuating metal prices, unanticipated costs and expenses, uncertainties relating to the availability and costs of financing needed in the future and regulatory restrictions, including environmental regulatory restrictions. The possibility that future exploration, development or mining results will not be consistent with adjacent properties and the Company's expectations; operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); metal price fluctuations; environmental and regulatory requirements; availability of permits, failure to convert estimated mineral resources to reserves; the inability to complete a feasibility study which recommends a production decision; the preliminary nature of metallurgical test results; fluctuating gold prices; possibility of equipment breakdowns and delays, exploration cost overruns, availability of capital and financing, general economic, political risks, market or business conditions, regulatory changes, timeliness of government or regulatory approvals and other risks involved in the mineral exploration and development industry, and those risks set out in the filings on SEDAR+ made by the Company with securities regulators. Although the Company believes that the assumptions and factors used in preparing the forward-looking information in this corporate press release are reasonable, undue reliance should not be placed on such information, which only applies as of the date of this news release, and no assurance can be given that such events will occur in the disclosed time frames or at all. The Company expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, other than as required by applicable securities legislation.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

More info on West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF):
/CO/WPG/


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