Vancouver, British Columbia--(Newsfile Corp. - March 31, 2025) - West Point Gold Corp. (TSXV: WPG) (OTCQB: WPGCF) (FSE: LRA0) ("West Point Gold" or the "Company") is pleased to announce that it plans to expand the current reverse circulation ("RC") drill program at its Gold Chain Project in Arizona. The Company has elected to expand the program as the successful results returned to date continue to confirm the model. The expanded program will be funded by proceeds received from recent warrant exercises. The expanded program plans to continue drilling the northern extension of Tyro and complete an initial test of the Frisco Graben target.
Press Release Highlights:
- The Frisco Graben is a large-scale, covered, low-sulphidation epithermal gold target.
- The Frisco Graben is approximately 4km in length and 1km wide.
- The ongoing drill program has been expanded to 5,000 metres from 3,000 metres.
- Assays are pending from 2,113 metres of completed drilling (13 holes).
"We would like to thank our current shareholders for their continued support. Through their warrant exercises, we have been able to expand the ongoing drill program at our Gold Chain project in Arizona. The expanded program will allow us to complete an initial test at the Frisco Graben that bears geologic similarities to AngloGold's Silicon-Merlin deposit," stated CEO Quentin Mai.
Frisco Graben Target at Gold Chain
The Frisco Graben is a large-scale, low-sulphidation epithermal gold target at the Company's Gold Chain project Arizona (Figure 4). The Frisco Graben is bounded on the southwest by the Frisco Mine Fault and the northeast by the Union Pass Fault. The target area is approximately 4 kilometres in length and 1 kilometre across.
The Frisco Graben is bounded by structures hosting altered rhyolite dikes, flow domes and associated flows and debris aprons extending into a narrow basin, i.e., a graben filled with volcanic tuffs and sediments. Strong hydrothermal alteration along the extent of the graben, especially at the intersection with the Tyro vein system (Figure 1), argues for concealed potential, as presented in Figure 3.
Figure 1: Plan View of Gold Chain Project Showing Tyro Main Zone (with drilling) and drill pad locations for the Tyro NE Extension and Frisco Graben (see Figure 4 for location within the broader project).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/246652_e27bc8c9c4288989_002full.jpg
Sampling to date has not revealed anomalous gold in the Frisco Graben, which is expected in vapour-driven alteration. A hyperspectral survey was completed in 2020, an aeromagnetic survey in 2021 and geologic mapping of the graben and beyond provide additional evidence for a deeper epithermal gold system (Figure 2). The magnetic signature along Section 7000E, roughly parallel to the Tyro vein, reveals the shallow floor to the graben at about -300m in the hanging wall of the Frisco Mine fault. The section also reveals magnetite destruction along the Tyro vein to about -500 metres. A strong magnetic 'quiet' zone is positioned immediately beneath the graben and may reflect a felsic stock at depth.
Figure 2. Annotated Section 7000 3D Magnetic Susceptibility Model Across the Gold Chain Project and the Frisco Graben.
Note: Annotated by Rob Johansing, VP of Exploration. Airborne geophysics was conducted by a third-party contractor, and the interpretation was performed by Simcoe Geoscience Limited.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/246652_e27bc8c9c4288989_003full.jpg
The structures bounding the Frisco Graben merge to the northwest to form a fault zone referred to as the Union Pass fault zone (Figure 4). As observed elsewhere, the structure hosts rhyolite dikes and widespread quartz veining in the footwall Precambrian rocks and the rhyolite. As seen elsewhere, volcanic rocks in the hanging wall are altered, providing additional targets for future exploration programs.
Figure 3. Schematic diagram of the Frisco Graben showing the 'boiling zone' (Tyro Vein) in the FW of the rhyolite dike (Frisco Mine fault) and vapour-dominated alteration in the hanging wall and capping the volcanic section of the graben.
Note: Prepared by Rob Johansing, VP of Exploration.
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/246652_e27bc8c9c4288989_004full.jpg
Figure 1 Plan View Location
Figure 4: Gold Chain Project Claim Map with Geology
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/246652_e27bc8c9c4288989_008full.jpg
Figure 5. 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).
To view an enhanced version of this graphic, please visit:
https://images.newsfilecorp.com/files/5717/246652_e27bc8c9c4288989_009full.jpg
Drill Program Update
The Company has elected to expand the ongoing RC drill program from 3,000 metres to 5,000 metres based on early warrant exercises by existing shareholders. To date, 2,450 metres have been completed in the current drill program, with assays pending for 2,113 metres (13 holes).
The expanded drill program is expected to focus on the Frisco Graben (described above).
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. Mr. Johansing has been responsible for all phases of work conducted at Gold Chain by West Point Gold to date.
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
Stay Connected with Us:
LinkedIn: linkedin.com/company/west-point-gold
X (Twitter): @westpointgoldUS
Facebook: facebook.com/westpointgold
Website: 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/246652
SOURCE: West Point Gold Corp.
