Drilling by West Point Gold (TSXV: WPG; US-OTC: WPGCF) has returned strong results from surface at its main Gold Chain project in western Arizona.
Hole GC25-70 cut 82.4 metres grading 1.61 grams gold per tonne from surface, including 9 metres at 8.37 grams gold, the company reported Tuesday. Another noteworthy assay included 6.1 metres grading 0.98 gram gold from surface in hole GC25-65, though West Point said the hole was lost in a historical mine working.
“These results continue to support previous drilling by linking broadly mineralized outcrops at surface with the previously released drill results from the Tyro Main Zone at depth,” CEO Quentin Mai said in a release. “The next holes to be drilled will focus on expanding the high-grade zone at northeast (NE) Tyro to depth and along strike.”
Strong Oatman district
Located in the Oatman gold mining district in western Arizona, the site of a local boom in the early 20th century, Gold Chain is 15 km north of Mako Mining’s (TSXV: MKO; US-OTC: MAKOF) producing Moss gold-silver mine. It also sits in between several historic mines including Frisco, Arabian, Katherine and Pyramid. Gold Chain is about 150 km southeast of Las Vegas.
Hole GC25-67 cut 48.8 metres grading 0.43 gram gold from surface, including 16.7 metres at 0.71 gram gold.
Highlight hole GC25-70 revealed widespread, and locally strong, quartz veins and breccia from the surface down to the hole’s extent, and its results were consistent with others.
West Point aims to define the vein’s upper widths and grade across 1 km of strike, which covers the limited historical mine workings.
Initial resource
The results are from 1,177 metres drilled so far at Gold Chain’s Tyro Main zone, out of a 10,000-metre drill program. The early portion of drilling is intended to build up data for an initial resource at the project, though the company hasn’t specified when it plans to release the resource.
West Point shares were down 5% to 55¢ apiece on Tuesday morning in Toronto, valuing the company at $56 million. The stock has traded in a 12-month range of 26¢ to 67¢.
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