West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQX; LRA0:FSE) reported assay results from two drill holes at the high-grade Northeast Tyro zone within its Gold Chain Project in Arizona. The company said reverse circulation hole GC26-168 intersected 56.4 meters grading 4.24 grams per tonne gold from 242.3 meters, including 28.9 meters grading 7.77 g/t gold. The hole was drilled approximately 20 meters below core hole GC26-161, which intersected 68.2 meters grading 2.20 g/t gold from 210.5 meters, including 34.3 meters grading 3.57 g/t gold.
According to the company, the two holes continue to extend the Northeast Tyro zone down-dip, where it remains open to depth. West Point Gold also said previously released hole GC26-148 suggests the zone appears to be widening at depth.
The company reported results for the two drill holes, totaling 628.5 meters, and said assay results from 19 additional holes representing 5,920 meters of the recently completed 21,079-meter drill program remain pending. West Point Gold stated that all results from Tyro Main and Northeast Tyro are expected to contribute to its maiden resource estimate, which is scheduled to be released later in 2026.
Hole GC26-168 was drilled about 20 meters below GC26-161 and returned an estimated true width of 28 meters. Hole GC26-161 intersected the Northeast Tyro vein zone about 230 meters down-dip from surface and has an estimated true width of 40 meters. The company said deep drilling suggests the vein system widens and extends approximately 270 meters below surface, where it remains open in all directions.
"With these results and GC26-148, the apparent widening, along with the textures observed, suggests multiple gold mineralizing events with deposition over a greater vertical range than you would typically see in low-sulphidation epithermal systems. These results further support the zone remaining open to depth," President and CEO Derek Macpherson said in the company's news release.
West Point Gold said both drill holes corroborate the widening of the vein system previously observed in hole GC26-148 and improve the definition of the high-grade gold mineralization in the Northeast Tyro zone. The company added that modeling of the geological features identified in the latest drilling is expected to provide greater insight into deeper targets.
Gold Market Remained Supported by Geopolitics and Policy Expectations
As of July 12, the spot price of gold was US$4,121.94 per ounce, while silver traded at US$60.43 per ounce. Live market data showed gold down US$8.85, or 0.21%, on the day, with platinum at US$1,642.60 per ounce and palladium at US$1,299.68 per ounce.
According to a July 10 commentary from Kitco Media, Phillip Streible wrote that "the setup for gold heading into the second half of 2026 looks constructive," while noting that the metal had been working through near-term pressure. He wrote that conflict in the Middle East had increased inflation concerns and contributed to expectations that the U.S. Federal Reserve could deliver at least one rate hike before year's end. Streible also wrote that the June Federal Open Market Committee minutes had "highlighted upside risks to inflation," while softer June payroll data had argued for patience. He said technical resistance was near US$4,200 per ounce and identified support levels at US$3,950 and US$3,900. Streible added that "gold has historically shown seasonal strength through July and August," citing a 15-year seasonal pattern.
InvestorsHub wrote on July 12 that gold had "reaffirmed its role as one of the world's leading safe-haven assets after climbing back above US$4,100 per ounce," supported by renewed geopolitical uncertainty following military tensions between the United States and Iran. The publication stated that "periods of policy uncertainty often increase demand for defensive assets such as gold," while noting that market participants were weighing inflation risks, geopolitical developments, and the possibility of slower global economic growth alongside expectations for U.S. monetary policy. InvestorsHub also reported that recent weakness in oil prices had weighed on the U.S. dollar and Treasury yields, providing additional support for precious metals.
Analysts Pointed to High-Grade Drill Results
In a June 14 initiation report, Don MacLean, Don Blyth, Lauren McConnell, and Hank Lorimer of Paradigm Capital initiated coverage of West Point Gold with a Speculative Buy rating and a CA$3.30 12-month target price. The analysts wrote that Gold Chain was "a low-sulphidation epithermal system with two well-defined primary zones, excellent infrastructure and drill programs that have been delivering impressive results through 2025 and 2026." They estimated that the Tyro Main and NE Tyro zones already hosted "approximately 1.1Moz @ 2.1 g/t, including the unusually high-grade NE Tyro zone at 0.6Moz @ 3.5 g/t," and stated that they believed "the company's late 2026 maiden resource target of 1.5-2.0Moz @ 1-2 g/t is well within reach."
The analysts also described the NE Tyro zone as the project's higher-grade area, writing that "NE Tyro has been expanding materially with each round of step-out drilling, with the most recent holes extending the zone by 100 metres along strike and 100 metres at depth, bringing it to 400 metres of strike length." They added that "Together, the two zones provide Gold Chain with what we believe is an economic project."
Discussing their resource work, MacLean and his colleagues wrote that "NE Tyro appears to have the most upside; open at depth and to the northeast." They estimated the zone contained "5.2Mt @ 3.5 g/t for 0.6Moz" and stated, "We see good visibility for NE Tyro to deliver 0.8Moz or more, with further potential if the zone continues to depth, which we expect."
In their conclusion, the analysts wrote, "Our economic analysis indicates a robust project is already in hand," and said their resource estimate snapshot as of May stood at "1.1Moz @ 2.1 g/t." They also stated, "The current CA$1.10 share price looks well underpinned by what has already been found."
On June 23, Chen Lin of What is Chen Buying? What is Chen Selling? wrote, "Today, WPG.v hit it out of the park, with 66 meters of 6.57 g/ton gold! I hope for a strong response from the market."
Streetwise Ownership Overview*
West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQX)
| Date | Old Symbol | Old Shares | New Symbol | New Shares |
|---|---|---|---|---|
| 12/23/24 | AUU:TSXV | 1 | WPG:TSXV | 1 |
| 04/22/24 | AUU:TSXV | 10 | AUU:TSXV | 1 |
| 11/30/18 | AUU:TSXV | 5 | AUU:TSXV | 1 |
| 08/25/98 | AMI:TSXV | 10 | AUU:TSXV | 1 |
The same day, Bob Moriarty of 321gold.com commented, "West Point Gold just released a giant 435 gram/meter hole assaying 66.2 meters of 6.57 g/t gold. That's a big home run for the company."
Also on June 23, Carlisle Kane of Equedia Investment Research compared the reported grades with regional mining averages, writing, "Those internal grades are roughly 35 times the average grade of an open-pit gold mine in the southwestern United States." The report also stated that the drill results outlined "a wide, predictable, high-grade shoot that plunges down, in a system that is filled with gold again and again . . . showing every textbook signal that the gold-forming engine is still sitting below where they've drilled so far."
Equedia added, "The rocks themselves are pointing down and saying, 'Keep going.' That's Mother Nature telling you there's more . . . even after West Point Gold's maiden resource comes out."
Upcoming Milestones Across Gold Chain and Nevada Projects
West Point Gold said results from the remaining approximately 21,000-meter drill program at Gold Chain are expected to support its maiden resource, which is targeted for release in 2026. The company also reported that 19 drill holes totaling 5,920 meters remain pending from the completed 21,079-meter program.
Beyond Gold Chain, the company's investor presentation outlines additional project activities in Nevada. At Jefferson Canyon, partner Kinross is advancing permitting for an initial drill program. At Baxter Spring, West Point Gold is conducting data compilation, geological modeling, integrated geochemical and structural interpretation, and permitting for a 5,000-meter drill program in 2026. The presentation also notes three Nevada projects with more than 125 historic drill holes and describes Baxter Spring, Jefferson Canyon, and Tip Top as advanced exploration projects.
Ownership & Share Information1
West Point Gold Corp. has a market cap of CA$180.83 million, with 135.97 million shares outstanding. The company's 52-week range is CA$0.29-CA$2.17.
Institutions own 25.7% of shares, while Management & Insiders own 6.3%. The remaining 68% of shares are held by Retail.
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Important Disclosures:
- As of the date of this article, officers, contractors, shareholders, and/or employees of Streetwise Reports LLC (including members of their household) own securities of West Point Gold Corp.
- James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
- This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.
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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.
