Exciting Gold Prospects Revealed in Nevada's Cortez Trend Following Exploration

1) James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.

2)  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.

* Disclosure for the quote from the Bob Moriarty article published on November 14, 2024

Westward Gold is an advertiser and I own shares so naturally I am biased. Do your own due diligence.

Westward Gold Inc. (WG:CSE; WGLIF:OTCMKTS) has unveiled new Carlin-type gold targets at its flagship Toiyabe Hills project in Nevada following an extensive 2024 field exploration program. The program, covering 18 square kilometers, included Anaconda-style geological mapping, 264 surface rock samples, a gravity survey with 200-meter spacing, and a reinterpretation of legacy Z-Tip Axis Electromagnetic (ZTEM) data. Situated along the Cortez trend in Lander County, Toiyabe Hills is known for favorable lower-plate carbonate rocks at drillable depths, which form key hosts for several multi-million-ounce gold deposits in the district. One of the most promising new targets identified is the Campfire target, potentially a major mineral source for the region.

According to strategic adviser Kelly Cluer in the news release, Westward's systematic exploration approach aligns with its vision of locating extensive gold systems capable of "company-making discoveries." Cluer noted the similarities between the Campfire target's geophysical, geological, and geochemical framework and the environments of Nevada's significant gold mines. The Campfire target, which historically lay on fragmented claim blocks, became fully accessible following Westward's consolidation efforts. Early analysis indicates that this target holds a large alteration zone over a 1.5-kilometer-wide by 3.0-kilometer-long area, with lower-plate carbonate rocks at varying depths.

Westward's 2024 field program yielded multiple findings across the Toiyabe Hills project. Highlights include identifying Carlin-type hydrothermal alteration across 11 square kilometers, observing northeast-striking faults filled with dikes, and recognizing formations favorable for gold deposits. Geochemical data from rock samples verified a widespread Carlin-type footprint, corroborated by soil sampling. A detailed re-examination of ZTEM data, when combined with gravity survey results, highlighted zones of resistivity anomalies and structural features that align with the Campfire anticline, an area of significant gold-arsenic anomalies.

What's Moving The Gold Market?

On November 4, Egon von Greyerz underscored gold's role as a hedge against growing government debt and volatile monetary policies. He projected that "gold will rise by multiples in the coming years," citing historical patterns of currency devaluation and the risks surrounding fiat currencies. Von Greyerz emphasized that gold is "the best-performing asset class in this century," underscoring its anticipated upward trajectory as governments worldwide confront fiscal pressures.

In a November 5 Yahoo! Finance report, the "mystery rally" in gold was explored. The article linked it to global economic shifts and evolving reserve currency practices. Fiscal challenges and the G7's decision in 2022 to freeze Russian reserves reportedly influenced central banks worldwide to increase gold holdings at the expense of U.S. dollar-based assets. Bullion expert Ross Norman commented on the "massive conviction" driving the rally, pointing out that diversifying reserves into gold has become a preferred strategy for numerous economies facing debt and monetary policy limitations.

More recently, Stockhead reported on November 11 that the Federal Reserve's first interest rate cut in over four years drove gold to an all-time high of US$2,500 per ounce. This move was seen as a response to easing inflation concerns and recession risks in the U.S. economy. Gold's surge, which started in mid-February, has been sustained by central bank purchases, geopolitical risks, and the approaching U.S. election. By November 11, gold prices reached US$2,744 per ounce, marking a 37% gain year-to-date.

Finally, in a November 13 report by Seeking Alpha, Axel Merk, President of Merk Investments, described gold as thriving under conditions of stabilized inflation, lower interest rates, and significant fiscal challenges. Merk noted that "the price of gold is reflecting the significant amount of money being spent on interest payments," a factor likely to uphold gold's high valuations. He added that junior mining companies are particularly well-positioned to benefit from these favorable conditions, citing sustained investor interest and strong funding opportunities in the sector.

What's Driving Westward Gold

Westward Gold's future exploration at Toiyabe Hills could build on the newly mapped Campfire target and additional high-priority zones identified in 2024.

According to the company's October 2024 investor presentation, strategic district-wide land consolidation now provides streamlined access to unexplored areas within one of Nevada's most prolific gold trends. The comprehensive geophysical and geochemical mapping completed this year enables the company to define specific drill targets across the newly consolidated claim blocks. Additionally, the presentation highlights the potential for expansion, both at near-surface mineralization and at depth, with multiple Carlin-type indicators present across the district.

Analysis of Westward Gold

Jeff Clark from The Gold Advisor has expressed optimism about Westward Gold's recent exploration developments at the Toiyabe Hills project in a November 13th report. Clark highlighted the Campfire target as a "company maker" with significant geological evidence supporting its potential. The report pointed out that the extensive fieldwork conducted in 2024, including mapping, sampling, and geophysical analysis, culminated in identifying Campfire as one of the most promising untested targets in Nevada's gold sector.

Clark referenced the involvement of experienced geologists, including VP Exploration Rob Edie and lead technical advisor Steve Koehler, both known for previous major Carlin-type discoveries. He noted their successful history, including a 5-million-ounce discovery on the Carlin Trend that ultimately led to a $250 million acquisition.

Clark further emphasized the strategic significance of Westward's land consolidation efforts, which enabled focused exploration on the Campfire target, a 1.5-kilometer by 3.0-kilometer area with signs of extensive alteration and a large geochemical footprint. According to Clark, the convergence of these geological elements hints at a large-scale gold system that could potentially transform Westward Gold into a major player in the Nevada gold exploration landscape.

*In a November 14 report on 321 Gold, industry expert Bob Moriarty highlighted the potential of Westward Gold's Toiyabe Hills project. He saw it as a significant Carlin-style gold deposit within Nevada's Cortez Trend. In his recent analysis, Moriarty emphasized the strategic advantage Westward Gold gained through its three-year effort in consolidating fragmented claim blocks around the Campfire target, an area believed to contain the "motherlode" of gold in the region.

Moriarty stated, "The anticline at Campfire ticks all the boxes for Carlin-style gold formations," noting that this target displays the necessary geological, structural, and hydrothermal patterns associated with major gold systems in the Cortez and Carlin districts.

Moriarty also drew attention to Westward's exploration team, which includes experienced professionals such as Rob Edie, Steve Koehler, and Kelly Cluer, all of whom have a proven track record in Carlin-style deposits. He referenced their past success, including building a 5-million-ounce gold resource for Gold Standard Ventures, which subsequently sold for $250 million.

Ownership and Share Structure

According to Refinitiv, management and Insiders hold 4.58% of Westward Gold. Colin Moore has the most at 2.45% with Mark Monaghan holding 1.70%.

As a strategic investor, Dalvay Capital Corp. holds 1.94%.

Institutions have 1.72%. The rest is retail.

Westward Gold has a market capitalization of approximately CA$8.8 million. The company's stock has traded within a 52-week range of CA$0.038 to CA$0.10.