West Point Gold Strategically Expands Footprint in Nevada with Agreement to Acquire the Baxter Spring Project
West Point Gold (OTCQB: WPGCF) has entered into a share purchase agreement to acquire a 100% interest in the Baxter Spring Project through the acquisition of Baxter Gold Corp. The project, located in Nevada's Manhattan Mining District, is situated 40 kilometers south of Kinross's Round Mountain Mine.
The acquisition involves 13.5 million common shares valued at $0.435 per share, with shares subject to a four-month statutory hold period and additional voluntary hold periods extending up to 24 months. The Baxter Spring Project includes 128 historical drill holes with impressive results, including intersections of 12.2m at 60.3 g/t Au and 24.4m at 2.49 g/t Au. The property consists of 137 unpatented federal lode claims covering 2,830 acres.
The company plans to conduct comprehensive exploration activities in Q4 2025, preparing for a 5,000m drill program in 2026.West Point Gold (OTCQB: WPGCF) ha stipulato un accordo di acquisto azionario per ottenere il 100% di Baxter Gold Corp mediante l’acquisizione di Baxter Gold Corp. Il progetto, situato nel Manhattan Mining District dello stato del Nevada, si trova a 40 chilometri a sud della Round Mountain Mine di Kinross.
L’acquisizione prevede 13,5 milioni di azioni ordinarie valutate 0,435 USD ciascuna, con le azioni soggette a un periodo di lock-up di quattro mesi e a ulteriori periodi di blocco volontari che si estendono fino a 24 mesi. Il Baxter Spring Project comprende 128 sondaggi storici con risultati di rilievo, tra cui intersezioni di 12,2 m a 60,3 g/t Au e 24,4 m a 2,49 g/t Au. La proprietà è costituita da 137 rivendicazioni federali non brevettate (unpatented lode claims) su 2.830 acri.
L’azienda intende condurre attività esplorative complete nel Q4 2025, preparando un programma di trivellazione di 5.000 m nel 2026.
West Point Gold (OTCQB: WPGCF) ha suscrito un acuerdo de compra de acciones para adquirir el 100% de Baxter Gold Corp mediante la adquisición de Baxter Gold Corp. El proyecto, ubicado en el Manhattan Mining District de Nevada, se encuentra a 40 kilómetros al sur de la mina Round Mountain de Kinross.
La adquisición implica 13,5 millones de acciones ordinarias valoradas en 0,435 USD por acción, con un periodo de bloqueo de cuatro meses y periodos voluntarios de bloqueo adicionales que se extienden hasta 24 meses. El Baxter Spring Project incluye 128 sondeos históricos con resultados impressionantes, entre ellos intersecciones de 12,2 m a 60,3 g/t Au y 24,4 m a 2,49 g/t Au. La propiedad comprende 137 derechos federales de veta no patentados que abarcan 2.830 acres.
La empresa planea realizar actividades de exploración exhaustivas en el Q4 2025, preparando un programa de perforación de 5.000 m en 2026.
West Point Gold (OTCQB: WPGCF)가 Baxter Gold Corp를 인수하여 Baxter Spring 프로젝트의 100% 지분을 확보하는 주식 매매 계약을 체결했습니다. 이 프로젝트는 네바다 주 맨해튼 광산 지구에 위치해 있으며 Kinross의 Round Mountain 광산에서 남쪽으로 40km 떨어져 있습니다.
인수에는 주당 0.435달러로 평가된 1,350만 주의 보통주가 포함되며, 주주는 4개월의 법정 락업 기간과 24개월까지 연장될 수 있는 추가 자발적 락업 기간의 대상이 됩니다. Baxter Spring Project에는 128개의 과거 시추 구획이 있으며, 12.2m에서 60.3 g/t Au 및 24.4m에서 2.49 g/t Au의 인상적인 결과가 포함되어 있습니다. 이 토지는 2,830에이커를 커버하는 137개의 특허받지 않은 연방 탐사 구획으로 구성되어 있습니다.
회사는 2025년 4분기에 광범위한 탐사 활동을 수행하고 2026년에 5,000m의 시추 프로그램을 준비할 계획입니다.
West Point Gold (OTCQB: WPGCF) a conclu un accord d’achat d’actions pour acquérir les 100% de Baxter Gold Corp via l’acquisition de Baxter Gold Corp. Le projet, situé dans le Manhattan Mining District du Nevada, est à 40 kilomètres au sud de la mine Round Mountain de Kinross.
L’opération prévoit 13,5 millions d’actions ordinaires évaluées à 0,435 USD par action, avec une période de blocage légale de quatre mois et des périodes de blocage volontaires supplémentaires pouvant s’étendre jusqu’à 24 mois. Le Baxter Spring Project comprend 128 forages historiques avec des résultats impressionnants, dont des intersections de 12,2 m à 60,3 g/t Au et 24,4 m à 2,49 g/t Au. La propriété comprend 137 revendications fédérales non brevetées couvrant 2 830 acres.
L’entreprise prévoit de mener des activités d’exploration complètes au Q4 2025, préparant un programme de forage de 5 000 m en 2026.
West Point Gold (OTCQB: WPGCF) hat eine Aktienkaufvereinbarung getroffen, um einen 100%-igen Anteil an Baxter Gold Corp durch den Erwerb von Baxter Gold Corp. zu erwerben. Das Projekt befindet sich im Manhattan Mining District von Nevada und liegt rund 40 Kilometer südlich der Round Mountain Mine von Kinross.
Der Erwerb umfasst 13,5 Millionen Stammaktien im Wert von 0,435 USD pro Aktie, wobei die Aktien einer viermonatigen gesetzlich vorgeschriebenen Haltefrist unterliegen und zusätzliche freiwillige Haltefristen bis zu 24 Monaten möglich sind. Das Baxter Spring Project umfasst 128 historische Bohrlöcher mit beeindruckenden Ergebnissen, darunter Schnittpunkte von 12,2 m bei 60,3 g/t Au und 24,4 m bei 2,49 g/t Au. Die Liegenschaft besteht aus 137 unpatented federal lode claims über 2.830 Morgen.
Das Unternehmen plant umfassende Explorationsaktivitäten im Q4 2025 und bereitet ein 5.000 m-Bohrprogramm für 2026 vor.
West Point Gold (OTCQB: WPGCF) قد أبرمت اتفاقية شراء أسهم للاستحواذ على حصة 100% من Baxter Gold Corp عن طريق استحواذها على Baxter Gold Corp. يقع المشروع في منطقة مينينغمان ديستركت بمستوى نيفادا، وهو على بُعد 40 كيلومترًا جنوب منجم رونْد ماونتن التابع لكينروس.
يشمل الاستحواذ 13.5 مليون سهم عادي بقيمة 0.435 دولار للسهم، مع خضوع الأسهم لفترة حظر قانونية مدتها أربعة أشهر وإجراءات حظر طوعية إضافية تمتد حتى 24 شهرًا. يتضمن Baxter Spring Project 128 بئراً تاريخياً مع نتائج مميزة، بما في ذلك اشتقاقات من 12.2 م عند 60.3 جم/أو و24.4 م عند 2.49 جم/أو. تمثل الملكية 137 مطالبة فدرالية غير منقوشة تغطي 2,830 فدّان.
تخطط الشركة لإجراء أنشطة استكشافية شاملة في الربع الرابع من 2025، إعدادًا لبرنامج حفر بواقع 5,000 م في 2026.
West Point Gold (OTCQB: WPGCF) 已签署股权购买协议，通过收购 Baxter Gold Corp 获得 Baxter Spring 项目100%权益。该项目位于内华达州曼哈顿矿区，距离 Kinross 的 Round Mountain 矿区 南下约40公里。
此次收购涉及 1350万股普通股，股价为每股0.435美元，股票受四个月的法定禁售期约束，并可延长至最多24个月的自愿禁售期。Baxter Spring 项目包含 128个历史钻探孔，取得了令人印象深刻的结果，包括 12.2米，金品位60.3 g/t Au 和 24.4米，金品位2.49 g/t Au 的截距。该地产由 137个未获专利的联邦权利要求，覆盖2830英亩组成。
公司计划在 2025 年第四季度开展全面勘探活动，为 2026 年的 5,000 米钻探计划做准备。
- Strategic expansion in Nevada's premium mining district near major existing operations
- Historical drilling shows high-grade gold intersections (12.2m at 60.3 g/t Au)
- Acquisition cost through share issuance is below historical exploration value
- Project comes with extensive historical database from 1980-2012
- Property includes 137 unpatented federal lode claims covering 2,830 acres
- Project subject to 2% net smelter returns royalty
- Historical data predates current NI 43-101 standards
- Share dilution from 13.5 million new shares issuance
- Secondary priority to Gold Chain flagship project
Vancouver, British Columbia--(Newsfile Corp. - September 16, 2025) - West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (FSE: LRA0) ("West Point Gold" or the "Company") is pleased to announce that it has entered into a share purchase agreement, dated September 15, 2025, to acquire a
Historical exploration at Baxter Spring includes 128 drill holes, including approximately 11,000 metres (m) of reverse circulation (RC) drilling and 1,850 m of core drilling, along with surface geochemical and geophysical surveys.
Historical drilling on the project is highlighted by:
- 24.4 m at 2.49 g/t Au (BS-22, Homestake Mining, 1982)
- 12.2 m at 60.3 g/t Au including 3.0 m @ 240 g/t Au (BS-8, Homestake Mining, 1982)
- 27.4 m at 1.46 g/t Au (BX-1, Naneco, 1988)
- 7.6 m at 8.81 g/t Au (BX-13, Naneco, 1988)
- 69.0 m at 0.71 g/t Au (BCS-1, Homestake Mining, 1984)
Quentin Mai, CEO, stated, "While Gold Chain remains our flagship asset, Baxter Spring provides an attractive opportunity to acquire an advanced exploration project in a premier location that strengthens our position in the region. Baxter Spring features historical mining, extensive drilling with impressive results, as well as geophysical and geochemical surveys. We believe the replacement cost of the work completed to date far exceeds the value of the shares West Point Gold is paying to acquire the project. This opportunity is largely the result of Baxter Spring being a secondary project held by several other companies, where it had not seen recent work. We continue to expect the majority of our time and capital to be spent on the Gold Chain project going forward, and there are several simple, low-cost programs at Baxter Spring that we plan to complete in Q4 2025, in preparation for drilling in 2026."
Figure 1: Property Location Map
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Baxter Spring Project
Baxter Spring is an advanced-stage exploration project in Nye County, Nevada, and is located approximately 40 km south of Kinross' Round Mountain Mine and the Company's Jefferson Canyon property, which is optioned to Kinross. The project is approximately 40 km north of Tonopah, and is accessible via a paved road. Baxter Spring consists of 137 unpatented federal lode claims covering approximately 2,830 acres (1,145 hectares). The claims are on land administered by both the United States Bureau of Land Management (southern half) and the United States Forest Service (northern half). The majority of historical exploration work has been completed on the southern portion of the project, where West Point Gold will initially concentrate its efforts.
Historical exploration work includes 128 historical drill holes, including approximately 11,000 m of RC drilling and 1,850 m of core drilling, along with surface geochemical and geophysical surveys.
Figure 2: Baxter Spring project area showing historical data including rock and soil samples along with drill holes. Gold grades and downhole widths are provided for select holes.
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Historical work identified multiple zones of mineralization, with shallower drilling identifying vein structures within the zone of oxidation and within 300 m of the surface. Gold mineralization is contained in quartz-adularia-iron oxide (pyrite) veinlets associated with localized decalcification and pervasive silicification. Gold mineralization has been identified along a northwest-trending package of Ordovician sediments, which dip southwesterly beneath felsic volcanic rocks which are locally mineralized. The intersection of this rock package with northeast-trending structures provides a preliminary vector for down-plunge exploration. Radiometric dating of adularia suggests an age of ~15 million years (Ma), corresponding to the Miocene epoch.
Additionally, deeper drilling intersected Lower Plate rocks of the Roberts Mountain Formation at depths of 400 to 700 m, including those exhibiting hydrothermal alteration features associated with Carlin-type epithermal gold mineralization. Neither the shallow nor the deeper drilling has defined a resource or established a geologic model for these gold occurrences.
The Baxter Spring project is subject to a
Historical Exploration Results, Database and Next Steps
Baxter Spring comes with a historical database compiled from exploration conducted from 1980 to 2012. Despite the significance of past exploration work completed, much of it predated the current NI 43-101 standards.
The data presented in this release for the Baxter Spring Project was sourced from a private report prepared for Baxter Gold Corp. by Avrom Howard, MSc, PGeo, dated November 30, 2023. Additional data was received from Pilot Gold (USA).
In 2025, West Point Gold plans to complete the following activities for the Baxter Spring project:
- Compile all historical exploration work, geological mapping and, in particular, drilling data.
- Generate a series of digital layers allowing West Point Gold to view lithology, structure, alteration, and rock geochemistry.
- Combine the above digital models with the drill hole data for 3D modelling.
- Select field studies following the modelling to better define the lithologies, structures, alteration and geochemistry associated with surface-subsurface gold mineralization.
- Design follow-up and step-out drill holes to confirm and expand gold mineralization.
- Commence permitting for a 5,000 m drill program in 2026.
Agreement to Acquire Baxter Spring Mining Corp. and the Baxter Spring Project
West Point Gold has entered into a share purchase agreement, dated September 15, 2025, to acquire all of the issued and outstanding shares of Baxter in exchange for 13,500,000 common shares of the Company valued at
All share consideration to be provided to the shareholders of Baxter will be subject to a statutory hold period of four months plus one day from the closing date of the transaction. Further voluntary contractual hold periods have been agreed to with the shareholders of Baxter, resulting in no shares being free trading after the statutory hold period has elapsed. These voluntary hold periods are:
This acquisition remains subject to the approval of the TSX Venture Exchange.
Gold Chain share payment
Further to its press release dated August 29, 2025, the Company announces that it has issued 129,698 common shares of the Company at CAD
Qualified Person
Robert Johansing, M.Sc. Econ. Geol., P. Geo., the Company's Vice President of Exploration, is a qualified person ("QP") as defined by NI 43-101 and has reviewed and approved the technical content of this press release. The QP has not completed sufficient work to verify the historical information on the Baxter Spring property, particularly in regard to historical drill results. However, the QP believes that prior drilling and analytical results were completed to industry standard practices at the time they were completed.
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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LinkedIn: linkedin.com/company/west-point-gold
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Website: www.westpointgold.com
FORWARD-LOOKING STATEMENTS:
Certain statements contained in this press release constitute forward-looking information. These statements relate to future events or future performance. Forward-looking statements include estimates and statements that describe the Company's 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 West Point Gold'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.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/266557
FAQ
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