West Point Gold Expands Gold Chain Land Package by 30%
Rhea-AI Summary
West Point Gold (WPGCF) has expanded its Gold Chain Project in Arizona by staking 113 additional lode claims on BLM land, increasing the project area by approximately 30%. The project now encompasses 492 lode claims covering 9,840 acres and 15 patented claims covering 282 acres.
The expansion extends northwest along the Union Pass Fault where it meets the Frisco Mine Fault. The new claims cover a major NNW-trending structural corridor hosting rhyolite flow domes, dikes, volcanic centers, and underexplored gold occurrences. Previous sampling in the area has yielded up to 2.07 g/t Au, with mineralization roughly defined over 7 kilometers.
While the company's near-term focus remains on the Tyro Main Zone, high-priority targets include the Tyro Extensions to the South and the Frisco Graben to the North for future drilling.
Positive
- Expansion of land package by 30% through addition of 113 lode claims
- Previous sampling in new claims area showed gold presence up to 2.07 g/t Au
- Mineralized zone defined over 7 kilometers
- Strategic location along major structural corridor with multiple gold occurrences
Negative
- None.
News Market Reaction
On the day this news was published, WPGCF declined 7.39%, reflecting a notable negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Vancouver, British Columbia--(Newsfile Corp. - February 19, 2025) - West Point Gold, (TSXV: WPG) (OTCQB: WPGCF) (FSE: LRA0) ("West Point Gold" or the "Company") is pleased to announce that it has staked an additional 113 lode claims on Bureau of Land Management ("BLM") land at its Gold Chain Project in Arizona. The Gold Chain project now consists of 492 lode claims on BLM land covering 9,840 acres (3,982 hectares) and 15 patented claims, covering a total of 282 acres (114 hectares). The new claims expand the Gold Chain project to the northwest along the regionally important Union Pass Fault where it merges with the Frisco Mine Fault which forms the southwest limit of the Frisco Graben (Figure 1).
"This expanded area adds additional large-scale targets at Gold Chain. While our near-term focus remains on the Tyro Main Zone, we plan to continue advancing the many targets on the project to determine the scale potential of Gold Chain," stated Quentin Mai, CEO, "The highest priority targets are the Tyro Extensions to the South (Sunset and Sunrise Veins) and the Frisco Graben to the North, which are expected to be the next targets drilled."
Figure 1: Gold Chain Project Claim Map with Geology
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/241428_wpgimg1.jpg
New Claims Added on the Northwest of Gold Chain
These new claims (Figure 1) mostly cover the northwest extension of a major NNW-trending structural corridor which hosts numerous rhyolite flow domes, rhyolite dikes, local volcanic centers and several underexplored gold occurrences in the Black Mountain range. This structural corridor, referred to as the Union Pass fault, is a broad zone of parallel structures including the Frisco Mine fault which is the primary target at the Company's Frisco Graben target. In brief, this fault zone defines the northern boundary of the Katherine Horst where Miocene volcanic rocks have been offset and juxtaposed onto Precambrian rocks (Figure 1). The corridor has been invaded by rhyolite dikes and subsequently mineralized by several quartz events including up to three stages of gold bearing quartz events. Preliminary mapping and sampling have revealed broad zones of quartz veining in the Precambrian rocks and local hydrothermal breccia bodies. The mineralized zone has been roughly defined over 7 kilometres where it disappears under Quaternary gravel to the west. Numerous pits and small shafts (<20m) have been identified and testify to the presence of gold mineralization. Previous sampling has returned up to 2.07 g/t Au.
The inclusion of this highly prospective structural corridor into the Company's exploration portfolio provides a very accessible, likely shallow target. Next steps include mapping and sampling of the quartz veining and breccia bodies to better define near-term targets.
Qualified Person / Quality Control and Quality Assurance
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 been responsible for all phases of work conducted to date at Gold Chain by Gold79.
About West Point Gold Corp.
West Point Gold Corp. (formerly Gold79 Mines Ltd.) is a publicly listed company focused on gold discovery and development at four prolific Walker Lane Trend projects covering Nevada and Arizona, USA. West Point Gold is focused on developing a maiden resource at its Gold Chain project in Arizona, while JV partner Kinross is advancing the Jefferson Canyon project in Nevada.
For further information regarding this press release, please contact:
Aaron Paterson, Corporate Communications Manager
Phone: +1 (778) 358-6173
Email: info@westpointgold.com
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FORWARD-LOOKING STATEMENTS:
This press release may contain forward-looking statements that are made as of the date hereof and are based on current expectations, forecasts and assumptions which involve risks and uncertainties associated with our business, including any future private placements, the uncertainty as to whether further exploration will result in the target(s) being delineated as a mineral resource, capital expenditures, operating costs, mineral resources, recovery rates, grades and prices, estimated goals, expansion and growth of the business and operations, plans and references to the Company's future successes with its business and the economic environment in which the business operates. All such statements are made pursuant to the 'safe harbour' provisions of, and are intended to be forward-looking statements under, applicable Canadian securities legislation. Any statements contained herein that are statements of historical facts may be deemed to be forward-looking statements. By their nature, forward-looking statements require us to make assumptions and are subject to inherent risks and uncertainties. We caution readers of this news release not to place undue reliance on our forward-looking statements as a number of factors could cause actual results or conditions to differ materially from current expectations. Please refer to the risks set forth in the Company's most recent annual MD&A and the Company's continuous disclosure documents, which can be found on SEDAR at www.sedarplus.ca. West Point Gold does not intend, and disclaims any obligation, except as required by law, to update or revise any forward-looking statements whether as a result of new information, future events or otherwise.
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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/241428
FAQ
How many acres does West Point Gold's expanded Gold Chain Project now cover?
What gold grades were found in previous sampling at WPGCF's new claim area?
What are the high-priority drilling targets for WPGCF at the Gold Chain Project?
How long is the mineralized zone in WPGCF's new claim area?
What geological features are present in WPGCF's new northwestern claims?
