West Point Gold (WPG.V) has released the assay results of two additional holes that were drilled on the Tyro Main Zone, part of the Gold Chain flagship project in Arizona. The drill bit intersected thick layers of gold mineralization with 76.2 meters of 1.92 g/t gold and 85.3 meters of 1.38 g/t gold as main areas of interest. Additionally, these wider intervals include shorter but higher grade intervals of respectively 32 meters of 3.17 g/t gold and 59.4 meters of 1.79 g/t gold (note: the true width of both intervals is approximately half of the reported width). And the grades, even the grades of the wider but lower grade intervals, are high-grade for oxidized material. As a reminder, the neighboring Moss gold mine uses a cutoff grade of 0.15 g/t for its resources.
The company has already completed just under 1,200 meters of the 10,000 meter drill program, and the data from this drill program will be helpful to put the maiden resource estimate together. As a reminder, West Point Gold has recently upgraded its exploration target to 1.25-3 million ounces of gold at an average grade of 2-3 g/t. Confirming the presence of broad and continuous zones of gold-bearing mineralization will definitely help the company to rapidly build tonnage at the Tyro Main Zone. And as the mineralization pretty much starts at surface (the gold mineralization in hole 68 started at surface, while in hole 69 the gold was encountered just 9.1 meters downhole), the data from these two holes will also be important to calculate the strip ratio.
Disclosure: The author has a long position in West Point Gold. West Point is a sponsor of the website. This post is for educational purposes only; be mindful investing in junior mining stocks is risky and you may lose your entire investment if things go wrong. Please read the disclaimer.
