Vancouver, British Columbia--(Newsfile Corp. - February 3, 2025) - West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) ("West Point Gold" or the "Company") is pleased to announce that it has joined the Center to Advance the Science of Exploration to Reclamation in Mining ("CASERM"), a collaborative venture between the Colorado School of Mines ("CSM") and Virginia Tech. Additionally, the Company has expanded its marketing engagement with i2i Marketing Group, LLC ("i2i").
This collaborative effort with CASERM commenced with the recent visit to the Gold Chain project by Dr. Thomas Monecke of CSM and the collection of about 50 rock samples for petrographic, fluid inclusion and geochemical studies. Additionally, as part of this collaboration a team from CSM completed a hyperspectral scan of all 1,264m of drill core from the recently completed drill program. Results from both these studies are pending.
West Point Gold believes that CASERM provides the Company with a unique and critical opportunity to:
Present the Gold Chain project's geologic and exploration models to a broad cross section of geoscientists to better identify tools to guide exploration.
Access tools typically not available to junior explorers with the associated experts to better understand the gold deposition model at Tyro.
Collaborate with experts in epithermal systems to decipher the geologic history of the numerous gold environments identified to date at Gold Chain.
"We are excited to join this program, as it is designed to provide us with a better understanding of gold deposition at the Gold Chain project, as West Point Gold pursues a maiden resource at Tyro," stated Rob Johansing, VP Exploration. Mr. Johansing continued, "Our collaboration with CASERM provides us with many benefits not available to other junior explorers that significantly include cost effective access to advanced geologic evaluation techniques and expertise as we expand our efforts to many other large-scale targets at the Gold Chain project."
Understanding the Tyro Vein System at the Gold Chain project
On, May 9, 2023, West Point Gold provided a revised geologic model for the Tyro vein system based upon drilling, geophysics, mapping and sampling. It was suggested that the historical Main Tyro vein is a segment of a much more extensive epithermal, gold-rich vein system (Figure 1). The vein system is characterized by abrupt changes in vein styles, vein textures, vein mineralogy and gold grades. Ongoing mapping supports a conclusion that these changes reflect intra- to post-mineral faulting which has dissected the vein system by down-dropping portions of the vein on the SW and NE extensions and relatively elevating central portions (axis of the Katherine Horst) where 'bonanza'-type gold values have been observed along surface vein exposures (Figure 1) and in drill holes.
Figure 1. Schematic diagram of the Tyro vein system showing the vein segments defined by WNW- to NW-trending intra- to post-mineral faults and veins.
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Figure 2. Generalized geologic projection of vein segments into the trace of the Tyro vein system. The section is oriented about N45oE and across the Katherine Horst revealing the relative elevation of the Tyro mine segment with elevated gold values.
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The Tyro vein system shares several similarities to the historically productive Katherine and Arabian veins (Arizona Gold and Silver), NW and SE, respectively, of the Gold Chain project.
Identifying and Defining Gold Targets
Many low-sulfidation epithermal deposits have zones of bonanza-type ore grades confined to crustiform quartz veins that range from centimetres to several metres in width. These bonanza-type zones occur at a specific depth below the paleowater table. In most deposits, the shallow portions of the veins may be barren or host only low-grade precious metal values. Deeper within the vein system, i.e. bonanza zone, elevated gold and silver values may dominate along with higher base metal (Cu-Pb-Zn) grades. In the neighboring Oatman district, the productive or 'bonanza' zone extended vertically between 300 and 400 metres and consisted of multiple mineralizing events (Lauson, 1931) but with very minor base-metal values.
Thermodynamic modeling suggests that precious metal enrichment in epithermal deposits that formed by gentle boiling should occur in a defined boiling horizon as >90% of gold contained in hydrothermal liquids experiencing boiling is lost over the temperature range of 260° to 180°C (Simmons and Browne, 2000). At a salinity of 5 wt% and hot hydrostatic conditions, gold deposition over this temperature interval would occur over a vertical depth extent of approximately 400 m at depths of approximately 500 to 100 m below the paleowater table.
Knowledge of the paleodepth of vein formation is critical to mineral exploration, especially if the veins are dissected by later faulting. The Gold Chain project represents an excellent example of a dissected low-sulfidation epithermal vein. The Tyro vein has been offset in several spots (see Figures 1 and 2) resulting in notable differences in vein style, texture and gold grade along with distinct alteration styles suggesting formation at different depths below the paleosurface. The Tyro vein over its nearly 3.5 km strike length hosts a spectrum of vein styles ranging from crustiform-banded quartz-chalcedony-adularia-calcite of the boiling zone to extensive outcrops of opaline silica-clay-hematite developed in the vapor-dominated part of the hydrothermal system, i.e. Frisco graben.
The textural/geochemical model shown in Figure 3 has been utilized to place the various segments of the Tyro vein system into context within the Low Sulfidation Epithermal Model (Buchanan, 1980). The model emphasizes the Company's belief that only the Tyro Mine segment is situated in the 'bonanza' zone and all other segments are positioned higher in the model. Consequently, the Tyro vein system is essentially untested.
Figure 3. Exploration model for low-sulfidation epithermal gold-silver vein systems illustrating vertical variations in quartz textures, structure, alteration and geochemistry along with the estimated vertical positions of the several structural segments of the Tyro vein system. Diagram adapted from: Buchanan (1980), Hollister (1985), Berger & Eimon (1983), Anaconda Corp. (1983), Guoyi (1992) and Corbett & Leach (1996).
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Characterizing the Conditions of Gold Deposition
The West Point Gold, CASERM collaboration aims to reconstruct the relative depth of the different fault blocks through an in-depth petrographic study. This study will include a characterization of quartz textures in outcrop or core samples and documentation of fluid inclusion populations and their micro-thermometric properties.
The petrographic work will include a classification of the quartz textures present following the classification scheme of Dong et al. (1995) and Moncada et al. (2012). Quantifying quartz textures will constrain the processes by which mineral deposition occurred in the vein and allow distinction between fluid cooling, gentle boiling, and vigorous boiling (Moncada et al., 2012). Different processes of quartz deposition may have occurred in the different fault blocks with boiling occurring within a defined horizon.
This collaborative effort will also focus on ore mineralogy as West Point Gold initiates metallurgical studies at Tyro. In addition to characterizing both gold and silver, these petrographic studies may reveal whether different fault blocks show systematic variations in ore mineral associations that may be related to the temperature of the hydrothermal fluids, which increases with depth in low sulfidation epithermal systems.
During the above studies, samples will be investigated for their fluid inclusion inventory. Fluid inclusions represent small amounts of hydrothermal fluids that were entrapped in the quartz during or after quartz formation. Micro-thermometric measurements made on samples from the different fault blocks will then be compared to determine whether significant differences can be identified. If different maximum homogenization temperatures are obtained, this will show conclusively that the veins outcropping in the different fault blocks formed at different depths below the paleosurface.
Hyperspectral Studies and Gold-Related Alteration
In addition to petrographic studies of the Tyro vein system, pulp samples from the recent trenching program across the Main Tyro vein (July 11, 2024), have been subjected to hyperspectral scanning along with core from the Fall 2024 drill campaign. The objective here is to determine the clay mineralogy of the alteration halo around the veins in the different fault blocks as the clay mineralogy strongly correlates with the temperature of the fluid-rock interaction.
About CASERM
Research at CASERM is supported through an active membership of exploration, mining, and service companies as well as government agencies. CASERM forms part of the National Science Foundation's Industry/University Cooperative Research Centers program. The National Science Foundation takes a supporting role in the development and evolution of the research center and provides a framework for its operation.
Expansion of i2i Marketing Engagement
West Point Gold has expanded its marketing agreement with i2i previously announced on December 20, 2024. The Company and i2i have agreed to expand the marketing and media distribution services agreement beyond the initial one-month term, for a further three months. The supplemental fee is expected to be US$1,000,000 resulting in a total fee of US$1,250,000 for the entire campaign.
i2i will create an advertising campaign and utilize its physical marketing program strategy with the aim of increasing investor awareness through various on-line platforms and methods of engagement, including the direct mailing of advertising materials to potentially interested parties.
The Company will not issue any securities to i2i as compensation for its marketing services. As of the date hereof, to the Company's knowledge, i2i (including its directors and officers) does not own any securities of the Company and is arm's length to the Company.
The expanded marketing agreement with i2i remains subject to the final acceptance of the TSX Venture Exchange.
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.
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.
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SOURCE: West Point Gold Corp.
