Drilling Uncovers 73m of Gold in Arizona, More Than First Modeled

1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of West Point Gold Corp. 
2. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. 
3.  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.

West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQB) has reported assay results from two reverse circulation drill holes totaling approximately 337 meters at the Tyro Main Zone, part of the Gold Chain Project in Arizona. According to the March 19 announcement, the results continue to extend the mineralized envelope of the zone, which has been the focus of an ongoing 3,000-meter drill program initiated in the first half of 2025.

Hole GC25-38 returned 73.15 meters grading 1.07 grams per tonne (g/t) gold (Au), including a higher-grade interval of 16.76 meters at 2.67 g/t Au and a subinterval of 1.52 meters at 10.8 g/t Au. Hole GC25-39 intersected 74.48 meters of 0.94 g/t Au, including 7.62 meters at 2.12 g/t Au and 9.14 meters at 2.09 g/t Au. All widths are reported as downhole intervals; the estimated true width is approximately 60–70% of these values.

These results exceed the 30–50 meter widths previously modeled for the Tyro Main Zone and continue to yield grades above the average for nearby open-pit operations. CEO Quentin Mai stated in the news release, "These initial holes from the 2025 drill program continue to demonstrate the potential of Tyro, with widths continuing to exceed those used in the previously announced exploration target and grades that remain well above the nearest operating open-pit mine."

The holes were drilled between or beneath previous intercepts to test mineralization continuity and depth extension. Hole GC25-38 was positioned approximately 55 meters below the Tyro Mine 200 Level, correlating with known mineralized intervals and intersecting several chalcedony-adularia veins and breccia zones within a silicified Precambrian granite host. Hole GC25-39 extended mineralization about 130 meters below surface exposures, intersecting similar vein and breccia structures.

The company confirmed that an additional 11 holes totaling approximately 1,800 meters have been completed, with assays pending. The 2025 drill program is designed to support a potential maiden mineral resource estimate for the Tyro Main Zone while also enhancing geological understanding of the deposit.

Gold Sector Capitalized on Volatility, Institutional Flows, and Record Highs

The gold sector experienced a surge in investor attention in March as spot prices broke historical records and mining equities responded to shifting macroeconomic conditions. On March 15, Energy & Capital reported that gold hit an all-time high of US$3,017 per ounce during early morning trading. Alex Koyfman noted that while the milestone reflected strong demand for gold as a hedge, some investors were showing caution. "Investors who stubbornly cling to the antiquated rule of 'buy low sell high,' will probably . . . start considering slowing their exposure to gold," he wrote. Despite the elevated prices, Koyfman emphasized gold's continued role as a long-standing store of value, stating, "Gold remains in the spotlight, as it has since the dawn of time."

On March 16, 321Gold highlighted technical analysis suggesting sustained bullish momentum for gold equities. The report outlined wave-based projections for the VanEck Junior Gold Miners ETF (GDXJ), stating that prices were "moving sharply higher in wave (iii)," with major resistance at 44.22 being a key breakout level. The analysis also forecasted a significant upside for the broader gold equities market if these technical thresholds were surpassed.

Technical Analyst Clive Maund also outlined price objectives, stating, "The first target is CA$0.50 (which it reached today!)

A March 18 market update from Stockhead confirmed that gold had breached the US$3,000 level and reached a new high. The article noted, "The price of gold also shot to a new high, pushing past US$3,000 an ounce," during a session marked by geopolitical tension in the Middle East. The shift toward gold came amid broader volatility, as investors sought perceived safe havens while equity markets reacted to developments in Israel and Gaza.

That same day, Kitco published a commentary by Stewart Thomson emphasizing institutional interest in gold stocks. He suggested that a macroeconomic backdrop resembling the 1970s could once again benefit miners, writing, "Gold stocks are poised to get an ongoing institutional tidal wave of capital . . .  as the stagflation-themed stock market meltdown and ensuing gulag occurs." Thomson argued that investors may be underestimating the magnitude of potential capital inflows into the sector, noting parallels with historical trends during inflationary periods.

Finally, on March 20, Excelsior Prosperity reported that gold had reached an intraday high of US$3,061.60 and closed at US$3,041.20. The analysis described gold's performance as "relentless pressure to the upside," while also acknowledging that some technical indicators—such as momentum and strength oscillators — suggested a potential short-term cooling in the equities. Despite this, the author concluded that "overall gold and the gold stocks have been shining brightly and making solid moves to the upside."

Advancing Toward a Maiden Resource

West Point Gold's March 2025 corporate presentation outlines several catalysts expected in the coming quarters. The Gold Chain Project, located near Bullhead City, Arizona, hosts a low-sulfidation epithermal gold system with multiple exploration targets. The Tyro Main Zone, where the current drill results were reported, is the company's primary focus for near-term resource definition. The target has been estimated to contain between 15.6 to 31.2 million tonnes (Mt) grading between 1.5 and 2.5 g/t Au, though this remains conceptual pending further drilling.

The current drill program at Tyro is budgeted for 3,000 to 4,000 meters, with additional step-out drilling planned to test extensions of the zone and nearby targets such as Frisco Graben. Initial metallurgical testing of Tyro material is scheduled for the second quarter of 2025.

In parallel, the company maintains a joint venture and option agreement with Kinross Gold for its Jefferson Canyon project in Nevada. Under the agreement, Kinross must spend US$600,000 on exploration and has the option to earn up to 80% of the project through staged payments totaling US$10 million. The company also continues to advance permitting activities and exploration work across its portfolio, including the historical Jefferson North and Tip Top targets.

As of November 2024, West Point Gold reported approximately CA$6.1 million in cash, which translates to about US$4.5 million at the time based on prevailing exchange rates. This capital base supports its ongoing exploration campaigns across the Gold Chain and Jefferson Canyon properties.

The company is targeting a maiden mineral resource for the Tyro Main Zone and will continue releasing drill results throughout the current program.

Technical Expert Flags Bullish Setup for West Point Gold

On February 18, Technical Analyst Clive Maund published an updated technical analysis of West Point Gold Corp., stating that the company was "building up to breaking out of a large base pattern that is expected to lead to a major bull market." He noted that West Point Gold had already "broken out of the rectangular trading range" previously identified in his January report and had "forged ahead on persistent strong upside volume." According to Maund, the volume patterns supported a continuation of the uptrend, despite the stock being "substantially overbought on a short-term basis." He also outlined price objectives, stating, "The first target is CA$0.50 (which it reached today!). The second target is CA$0.76. The third target is CA$1.28–CA$1.35." Maund concluded that while consolidation might occur, "price/volume action is very bullish indeed," and any short-term pullback could present "an opportunity to buy or add to positions at an even better price."

Ownership and Share Structure

According to Refinitiv, about 8% of West Point Gold is owned by insiders and management and about 1% by institutions. The rest is retail.

Top shareholders include Executive Chairman Derek Macpherson with 3.01%, Gary Thompson with 2.39%, Chief Financial Officer John McNeice with 0.49%, U.S. Global Investors Inc. with 1.29%, and Director Anthony Paterson with 1.51%.

Its market cap is CA$28.98 million with 65.86 million shares outstanding, and it trades in a 52-week range of CA$0.15 and CA$0.52.