West Point Gold Advances Gold Chain Project Amid Strong Central Bank Demand for Gold

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers

Central banks around the world continue to add gold to their reserves at a steady pace, providing structural support for the metal even during periods of price consolidation. This official-sector buying trend creates an attractive environment for companies actively advancing high-grade gold projects in stable jurisdictions.

West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQX) stands out in this setting because of its fully funded exploration program and clear path toward a maiden resource estimate at the Gold Chain project in Arizona. The company recently completed a large-scale drilling campaign that delivered important validation of high-grade mineralization at the Northeast Tyro zone.

Why Core Drilling Results Strengthen Project Confidence

The latest results come from two core holes drilled specifically to improve geologic understanding of a high-grade area first outlined by reverse circulation drilling. drill results from the high-grade zone at Northeast Tyro, part of the recently completed drill program at its Gold Chain Project in Arizona. These holes returned strong intercepts that align well with earlier reverse circulation results, giving investors greater confidence in the continuity and grade of the mineralization.

Hole GC26-134 intersected 19.7 meters grading 9.06 grams per tonne gold, located about 20 meters above a previous intercept. Hole GC26-137 returned 35.7 meters grading 3.2 grams per tonne gold, including a higher-grade interval of 10.2 meters at 10.23 grams per tonne. Both holes were positioned to provide detailed information on vein geometry, rock quality, and gold distribution that reverse circulation drilling alone cannot fully capture.

Central Bank Buying Provides Long-Term Tailwinds

Retail investors following the gold sector should note that official institutions have maintained consistent purchasing even as prices experienced short-term softness. According to a June 8 analysis by GoldFix citing Bloomberg data, the People's Bank of China added approximately 320,000 troy ounces of gold to its reserves during May, marking the nineteenth straight month of additions and bringing total reported holdings to roughly 2,322 tonnes. Similar patterns appear in other nations seeking to diversify reserves amid geopolitical uncertainty.

At the same time, physical market dynamics in major consuming countries continue to evolve. Meanwhile, Reuters reported on June 9 that India's decision to raise gold import tariffs to 15% in May had contributed to a rise in smuggling activity. Higher tariffs have widened the gap between official and unofficial channels, yet overall demand remains resilient. These factors illustrate why gold retains broad appeal as both a monetary asset and an investment during uncertain times.

Gold Chain Project Details and Exploration Progress

West Point Gold's 2025-2026 campaign totaled 21,079 meters, consisting of 18,683.3 meters of reverse circulation drilling and 2,395.7 meters of core drilling. The two core holes discussed represent 298.4 meters of that effort. Approximately 7,025 meters of assays remain pending and will be released over the coming months. With drilling now complete, the company is integrating all data into its planned maiden mineral resource estimate targeted for later in 2026.

The Northeast Tyro vein is a southeast-dipping structure between 15 and 25 meters wide that has been traced at elevations roughly 100 meters below surface. Host rocks include Precambrian granite with lenses of gneiss, schist, and amphibolite. Multi-stage quartz-chalcedony-calcite-adularia veining and breccia were observed, along with visible native gold in one of the core holes. These observations help refine models of gold deposition within the broader low-sulfidation epithermal system.

Analyst Perspectives on Drilling and Metallurgy

Independent research has highlighted the continuity of mineralization across the Tyro Main zone. Red Cloud Securities analyst Ron Stewart noted that recent holes, including one returning 184.4 meters grading 1.0 gram per tonne gold, support the interpreted geometry of the vein system. Metallurgical testing showed that ultra-fine grinding to 0.075 millimeters achieved gold recoveries between 87 percent and 92 percent, indicating favorable processing characteristics for the disseminated mineralization.

Commentator Bob Moriarty of 321gold.com also emphasized the company's steady progress. Bob Moriarty of 321gold.com noted the fully funded nature of the program and the potential impact of the upcoming 43-101 resource estimate.

Derek Macpherson, President and CEO, stated in the news release that the core results correlate well with reverse circulation data and confirm the reliability of the company's drilling practices.

Additional Nevada Assets and Corporate Strength

Beyond Arizona, West Point Gold is advancing two Nevada projects. At Jefferson Canyon, permitting is underway for an initial drill program under an agreement with Kinross, which must spend US$600,000 on exploration. At Baxter Spring, data compilation and permitting are preparing the site for a planned 5,000-meter drill program in 2026. Historical drilling at Baxter Spring totals about 13,000 meters across 128 holes. 

The company reported working capital of approximately CA$27.8 million as of March 31, 2026, plus in-the-money warrants valued at roughly CA$9.9 million. This financial position supports ongoing work without immediate dilution pressure.

 An analysis published by GoldFix on June 9 examined gold's performance relative to U.S. equities over the long term and noted that gold has historically delivered strong outperformance in concentrated periods, a pattern that remains relevant for investors evaluating gold equities today.

Share Structure and Path Forward

West Point Gold Corp. has a market cap of CA$176.12 million, with 135.48 million shares outstanding. The 52-week range stands at CA$0.29 to CA$2.17.

¹Management and insiders hold about 6.3 percent of shares, while institutions own approximately 25.7 percent.

With the drill program complete and assays still flowing, attention now turns to the maiden resource estimate expected later in 2026. According to the company's June 2026 investor presentation, both the Gold Chain and Nevada projects remain on track for continued advancement. Retail investors monitoring the gold sector will find these milestones worth following as the company moves from exploration toward resource definition in a supportive macro environment for the metal.