Westward Gold Inc. (WG:CSE; WGLIF:OTC)
Shares Outstanding: 182 million
52 Week Hi/Lo: CA$0.165 cents, CA$0.05 cents
Recent Share Price: Roughly CA$12 cents
Website: www.westwardgold.com
Drilling is currently underway at Westward Gold Inc.'s flagship Toiyabe Hills property in Lander County, Nevada. Over the next several months, Westward will be testing its Campfire target complex ("Campfire") for the first time, with approximately 5,000 meters (approximately 16,500
feet) of reverse-circulation (RC) drilling across this top-priority zone within the approximately 61-square-kilometer consolidated property.
Pictured with Greg at the drill site is CEO Colin Moore (to Greg's right), and CFO Andrew Nelson (on Greg's left). This was the site of the first drill hole. As of this writing, the company is on drill hole number three.
On the Verge of Discovery
As a newsletter writer, I always try to capture with words (a tagline, so to speak) of what I am seeing when I do a site visit. After my recent visit to Elko, NV to visit the flagship project of Westward Gold, Inc., it hit me soon after I got back what that tagline would be — On the Verge of Discovery.
The definition of the word "VERGE" is being on the brink or threshold of something. It can also refer to the edge or border of something. As I learned from all the critical work the company had done in the past year, both definitions could apply, as I clearly saw with my own eyes and heard with my own ears that Westward Gold is potentially ON THE VERGE OF SOMETHING VERY BIG.
As a newsletter writer in the speculative junior mining space for the last 25 years, I've learned what it takes to handicap our odds as best we can before the drilling begins, in hopes of making the next big discovery.
In order for such a discovery to happen, EVERYTHING and I MEAN EVERYTHING MUST COME TOGETHER for such a breakthrough moment. I've seen time and time again with other big discoveries throughout my career that this is often the case.
One of the keys that I've witnessed with many such discoveries is epitomized in the quote below by the brilliant Hungarian scientist who said:
"Discovery consists of seeing what everyone has seen, and thinking what nobody else has thought." — Albert Szent-Gyorgyi
Oftentimes, it's the thinking outside of what everyone else has thought that brings additional understanding to make such a discovery. Personally, in the field I have witnessed this as I watched one company (that was the 5th such company to drill a particular project with no discovery) turn the drill rigs around 180 degrees from what everyone had done and make a massive new discovery. A new way of looking at all the existing data turned into a massive win for the company and its investors!
The team at Westward Gold is experienced in making such discoveries in Nevada and has brought to the table every tool in its arsenal to bring us closer to the next big multi-million-ounce Carlin Gold discovery. In addition, the company has assembled the best brain trust of Nevada geological expertise and critical thinking necessary to unlock the geological puzzle that shows us BIG GOLD is in the neighborhood.
I have been following this story for over three years. What I saw at the beginning is now so much more of what I had hoped, as the company has clearly done the necessary work to put us into such a key position at this point — on the brink or threshold of a new major discovery of gold on one of the biggest gold trends in Nevada.
After I had taken the hour-long helicopter ride of the Carlin gold trend (which I had done in the past), I was amazed at how much larger all the open pits were compared to the other times I had been on the trend. Truly stunning, how everything has grown, and how breakthroughs in technology have allowed un-oxidized material to be counted into the mix. It used to be only the oxidized material was coveted, and the black rock, un-oxidized material was not. That all changed with new metallurgical technology that brought the un-oxidized material into the economic mine- plan.
Here is a picture from the helicopter of the Gold Strike Mine, which has already produced 40 million ounces of gold, with an additional 40 million yet to be mined.
Touring the trends by helicopter allows you to see all the black stained open pit walls where this un-oxidized material is so prevalent, allowing the profitability of these companies to SOAR!
Over the years so many, even within the mining industry, mis-understood the endowment of gold on the trends in Nevada. Many have said and even believe to this day that the trends are at the "mature stage," but I am here to tell you that simply is not true.
In my view, and you can quote me on this:
"The amount of gold still to be discovered on these trends within Nevada, will far exceed the amount of gold already mined. In addition, there are still new possible trends to be discovered, making Nevada in my view, a key focus for where investors should be concentrating to make the biggest returns on investment."
I have come to the point in my career as a newsletter writer that if I am going to invest my hard- earned monies into junior exploration stocks, then I need the PAYOFF to be ENORMOUS. 10x just doesn't cut it anymore. I want to see potential for 20x or more if successful with drilling.
The only place to do that is in ELEPHANT COUNTRY FOR BIG GOLD DESPOSITS THAT ARE IN A POLITCALLY STABLE JURISDICTION. Nevada is the place and Westward Gold is the type of company that could deliver. This situation is so unusual from so many viewpoints. Let me explain.
To make the biggest gains, you have to be involved with a company that can make the next 10 million ounce plus discovery. Why waste time as an investor on anything else? Go BIG, or GO HOME as they say.
But, make no doubt about it, this is a very complicated area geologically, and requires the best people with the most experience on the trends to make the new discoveries. This for me is one of the key points for any investor looking to cash in big in Nevada. With Westward Gold, we have the RIGHT HORSE, but more importantly we have all the RIGHT JOCKEYS!
The technical team is made up of Nevada's most competent explorationists, Dr. Quinton Hennigh (Chairman), Kelly Cluer (Director), Rob Edie (VP Ex), and Steve Koehler (Technical Advisor).
Chairman, Dr. Hennigh is an internationally renowned economic geologist with over 25 years of exploration experience and expertise with major gold mining companies, including Homestake, Newcrest, and Newmont. He's been responsible for several significant gold discoveries. He also undertook a palinspastic reconstruction of the Great Basin leading to the recognition of the Toiyabe District as being a critical missing piece of the world-class Cortez Gold District. He recognized the significance of the Toiyabe District back in 2007 and nearly 20 years later is getting to see his theory tested!
Kelly Cluer, Director of Westward, has 30+ years of experience in mineral exploration, from grassroots project generation through to discovery, resource delineation and mine- development. He held the position of Senior Director of Global Geoscience for Kinross Gold Corp., one of the largest gold producers in the world.
He was also Kinross's head of green-fields exploration and established their Reno NV office for greenfield exploration and grew it into one of the most active teams in the Western U.S.A. Worth noting, he was the co-discoverer of the high-grade Ren gold deposit on the Carlin Trend, amongst others. So, someone who's both made a Carlin gold discovery and worked for the majors.
Robert Edie, Vice President of Exploration, has 14 years of experience working as an exploration geologist in Nevada with an expertise in the discovery/development of Carlin-type deposits. He previously worked as Exploration Manager at the Jerritt Canyon Gold Mine in Nevada from 2020 to 2023 and was formerly project geologist of the Dark Star gold deposit for Gold Standard Ventures, during which time the company made several important discoveries (5Moz) and delivered outsized gains to shareholders.
Gold Standard Ventures was ultimately sold for $242M in 2022.
Lastly, Steve Koehler, technical advisor, is an economic geologist with over 34 years of gold exploration and development experience in Nevada, working on projects across various stages. He was a senior geologist on the initial discovery team at Cortez Hills, the very analogue Westward has for the Campfire Complex. Cortez Hills was developed into an operating mine (team awarded the 2005 Thayer Lindsley International Discovery Award).
Steve has also held senior management and technical positions at Gold Standard Ventures, GFG Resources, Evolving Gold, Miranda Gold, Cortez Gold Mines, and Newmont and has been directly involved in 11 Carlin-type gold discoveries, 6 of which have become producing mines.
The team has a combined 100+ years of Nevada Carlin experience and have been involved in over 12+ Carlin Discoveries. As you can see many on the Westward team have worked in the pits, underground, and on the trends most if not all their careers having been part of other discoveries which provided shareholders with significant outsized gains.
One factor that is a must is to STAY ON THE TREND.
If you are off the trend just a half mile, you are NOT where you need to be. Many companies try to sell investors on a land position that is close to the trends but not actually on the trend. To make the big discoveries you have to be on the trends which have the big cracks in the earth's mantle that allow the precious metal bearing fluids to rise close enough to the surface to be economically mined. If you are not on one of the big cracks, forget about it.
Westward Gold has what it takes. Let me explain exactly why this is the case and then you can decide for yourself if this company warrants your investment dollars. As for me and my house, I am all in and extremely excited for what could soon unfold.
I know what it takes to make a big discovery and I see a small junior (with a very low entry point), that has all the right ingredients for the next big discovery.
THE 5 MAJOR SIMILARITIES OF THE MAJOR GOLD DISCOVERIES ON THE CARLIN AND CORTEZ TRENDS
This is what you must have to make a 10 million-ounce gold discovery on one of these trends in Nevada.
- Lamprophyre Dikes — a lamprophyre dike must be present and is the mantle tapping structure required for the gold fluids to move towards the Westward Gold has not one, but multiple lamprophyre dikes at the Campfire complex.
- Carlin Geo-Chemical footprint — Carlin style gold fluids are associated with arsenic, antimony and mercury, which are all present on our flagship Campfire project.
- Anticline traps — Fold closures are in the shape of an arch and provide the traps that collect the biggest accumulations of gold These are clearly present within our key areas of interest
- Deep Oxidation — is present going down 600 meters and shows us that a very powerful Carlin style system is at work. These systems in our neighborhood have revealed 10-20- million-ounce deposits each at Pipeline, Cortez Hills, and Gold Rush.
- Favorable Carbonate Stratigraphy — must have the right rocks and the right geological setting where the lower plate meets the upper plate (below the Robert Mountain Thrust), often referred to as the "Carlin Window". This is present at the Campfire Complex.
So, the five things that are present in all of the biggest gold discoveries within the Carlin and Cortez Hills trends ARE ALL PRESENT ON OUR FLAGHIP PROJECT!
But let's look at this even closer. . .
Aside from these five major things you must have, how many of any other factors we can list does Westward Gold have? Out of 15 items I can list, WG has 11 of them.
While only the drill/core/assays can tell us the ultimate truth about what could be uncovered, we can handicap our odds by lining up as best we can with those companies that are mining the biggest discoveries on the trend. As the mineralization in the open pits is uncovered, the clues begin to emerge on where we should explore further (in which direction) which often leads to key information that is critical for making other discoveries.
Colin Moore, president and chief executive officer, commented:
"This is a very exciting time in our company's evolution, and the reason why we're in this business — to capitalize on patient, systematic targeting with an opportunity to make a game-changing discovery. I'd like to thank all the shareholders who have funded this endeavor, and our technical team for their continued execution. Greenfield exploration is always a challenging venture, but we believe our diligence will be rewarded and the future is bright at Toiyabe Hills." —Steven Koehler, technical adviser, added:
"Having walked over and mapped countless acres of exploration ground across Nevada over the last 30 years, I'm acutely aware of the key ingredients which pique the interest of economic geologists and tilt the risk/reward calculus in our favor. Thru-going high-angle structures, igneous dikes, evidence of compressional events, hydrothermal alteration, outcropping carbonate rocks — these are the hallmarks of potential fertile gold environments. One or two of these may make a target, but seeing all of them in one place is exceptional; this is why the Campfire complex currently has our undivided attention."
Summary
This is truly an exciting moment, that doesn't come around very often, where we have a low-priced junior mining company (entry point) that has such potential for a massive new discovery in Elephant Country for GOLD.
In the speculative world of investing, it just doesn't get any better than this. It is very unusual to have a small junior mining company with such an incredible land package (District in scale) within these major gold trends in Nevada. The majors control the trends. This is what got my attention to begin with when I first started following the company three years ago.
What Westward Gold has accomplished in those three years has now put us (as investors) in the driver's seat — the potential to make the next 10-million-ounce gold discovery on one of the big trends in Nevada.
As drilling is currently underway, it won't be long before assays begin to come out (probably starting in late August) which will tell the truth about all our hard work, thinking, and speculation.
In order to make a big discovery you need assays to show big intercepts of the right rocks with the right mineralization. If that happens, and I've bet big personally that it could happen, then we are off to the races as our share price would quickly revalue to much higher levels.
In 25 years of writing The Mining Speculator (my newsletter) these types of moments are far and few between. It is very rare that I have seen such an opportunity where EVERYTHING seems to come together, at the right time, in the right place with the right people.
I'd expect as you are reading this, so are many other investors — our share price is probably going to start creeping higher as more investors realize the scope of what is happening. Many have missed this because investors have not been looking our way since mining has been out of favor for the last several years. But, that in my view is about to change as more investors are looking for SAFE HAVEN and GOLD is now a TIER 1 ASSET (meaning the ultimate form of money) as listed by the Bank of International Settlement (BIS).
The first chance that something could happen (assay wise) is only weeks away and I fully expect this Focus Brief will be widely read. True economic discovery of size is a wonderful thing to behold. I hope you join with me in this great adventure that has the potential to deliver the type of life- altering experience we all long for and covet.
A picture of our entire group on the site visit. I want to personally thank the company for allowing me to bring my daughter (in the orange safety vest) and her boyfriend on the site visit, allowing them to see for themselves what it is I do.
They both thoroughly enjoyed the trip and learned much.
Important Videos
Click the image above or click here to watch this informative 30-minute video of Kelly Cluer (Director) explaining key factors for discovery.
Kelly was the head of exploration for Kinross Gold (one of the majors) for 30 years and retired about a year ago. In retirement he could have worked as a director for anyone, but chose a small junior named Westward Gold, which I think is very telling!
Also, click here to watch: Kelly Cluer, Westward Gold Director, on why Toiyabe Hills has Major Discovery Potential
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Important Disclosures:
- Westward Gold Inc. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Westward Gold Inc.
- Greg McCoach: I, or members of my immediate household or family, own securities of: Westward Gold Inc. My company has a financial relationship with: None. My company has purchased stocks mentioned in this article for my management clients: None. I determined which companies would be included in this article based on my research and understanding of the sector.
- Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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