en.Wedoany.com Reported - West Point Gold Corp. (WPG:TSXV; WPGCF:OTCQX) has released drill results from the high-grade zone at the Northeast Tyro area of its Gold Chain Project in Arizona, as part of a recently completed drilling program. The company reported that two drill holes, GC26-134 and GC26-137, further confirmed and validated the high-grade discovery previously identified through reverse circulation drilling in the area.

Drill hole GC26-134 returned 19.7 meters grading 9.06 g/t gold from 95.8 meters to 115.5 meters, with this intercept located approximately 20 meters above drill hole GC25-059, which returned 15.3 meters grading 7.02 g/t gold. Drill hole GC26-137 returned 35.7 meters grading 3.2 g/t gold from 53.2 meters to 88.9 meters, including 10.2 meters grading 10.23 g/t gold, with this intercept located approximately 20 meters above drill hole GC25-047, which returned 38.1 meters grading 4.86 g/t gold, including 10.7 meters grading 8.64 g/t gold.

According to the company, both core holes intersected a high-grade zone previously defined by reverse circulation drilling, aiming to provide higher confidence and context for geological, geometric, and gold grade models. These two holes represent 298.4 meters of the recently completed 21,079-meter drilling program.

The 2025-2026 drilling campaign includes 18,683.3 meters of reverse circulation drilling and 2,395.7 meters of core drilling. West Point Gold stated that assay results for approximately 7,025 meters are still pending and are expected to be released in the coming months. With drilling completed, the company will focus on integrating results into its first mineral resource estimate, which is anticipated to be released in the second half of 2026.

President and CEO Derek Macpherson stated in a press release that these results continue to highlight the high-grade nature of NE Tyro and the potential of the zone. He added that the core holes correlate well with nearby reverse circulation holes, enhancing the company's confidence that its reverse circulation drilling practices produce representative results.

According to the company, both holes targeted areas near previously identified high-grade gold mineralization. Except for drill hole GC24-034, previous drilling in the area was completed using reverse circulation methods. The core drilling program aims to provide detailed information on recovery rates, rock quality designation, vein types, structure, and density to support the geological and grade models at NE Tyro.

The company reported that both holes encountered the NE Tyro vein at elevations of approximately 760 to 790 meters (about 100 meters below surface). West Point Gold describes the NE Tyro vein as a structure dipping approximately 70 to 75 degrees to the southeast, with a width of 15 to 25 meters, hosted in rocks including Precambrian granite as well as lenses of gneiss, schist, and amphibolite.

West Point Gold also reported observations of multi-stage quartz-chalcedony-calcite-adularia veins and breccias, and identified native gold in core from drill hole GC26-137. The company stated that documentation of these geological features may aid its ongoing assessment of gold deposition within the system.

In the gold market, a GoldFix analysis on June 8 citing Bloomberg data showed that central banks continue to increase their gold holdings despite gold prices falling for the third consecutive month. The People's Bank of China added approximately 320,000 ounces of gold (about 9.9 tonnes) to its reserves in May, marking the nineteenth consecutive month of reported increases, bringing China's reported gold holdings to approximately 2,322 tonnes.

GoldFix also reported that China's net gold imports in the first quarter reached 316 tonnes, more than triple the amount recorded in the same period last year. The publication cited World Gold Council data showing that withdrawals from the Shanghai Gold Exchange have declined as jewelry demand enters a seasonal slowdown. GoldFix further cited comments from Goldman Sachs Group, which stated that central bank gold purchases may increase as geopolitical developments drive reserve diversification. GoldFix wrote that despite recent price weakness, continued buying by official institutions remains a supportive factor for gold demand.

Reuters reported on June 9 that India's decision to raise gold import duties to 15% in May has led to increased smuggling. Reuters quoted industry officials and gold traders as saying that the higher duty creates a price advantage for illegal imports, allowing smugglers to sell at prices below those of legitimate suppliers. According to Reuters, the gray market discount after the tariff increase exceeded $200 per ounce, and illegal imports could exceed 100 metric tonnes in 2026. India is the world's second-largest gold market after China, and the tariff increase is part of measures aimed at reducing demand, narrowing the trade deficit, and easing pressure on the rupee.

Another analysis published by GoldFix on June 9 examined gold's long-term performance relative to U.S. stocks. The publication cited a research report from Datatrek stating that gold's historical performance is characterized by periods of strong outperformance followed by extended consolidation phases. According to GoldFix, Datatrek reviewed the rolling one-year performance comparison between gold and the S&P 500 since 2006, finding that gold has generally outperformed U.S. stocks over the long term, although most of the advantage has been generated during concentrated periods rather than through steady gains. The publication wrote that the recent decline in gold prices has not materially changed the broader historical pattern, and gold's previous gains relative to stocks may have created an environment where stocks can narrow the performance gap following the metal's recent rally.

In an April 24 research report, Red Cloud Securities analyst Ron Stewart highlighted West Point Gold's latest drill results from the Tyro Main zone at the Gold Chain Project, noting that the latest holes continue to delineate mineralization throughout the deposit area. Stewart wrote that the drilling program focused on the central and southern portions of the Tyro Main zone, which forms part of a 3.4-kilometer northeast-southwest trending low-sulfidation epithermal system, and that all reported holes encountered mineralization.

Among the reported intercepts, drill hole GC26-125 returned 184.4 meters grading 1.0 g/t gold, including 10.7 meters grading 8.11 g/t gold, with Stewart noting that this hole provided the longest mineralized interval reported to date at the project. Other results included 22.9 meters grading 3.11 g/t gold from drill hole GC26-116, and 88.6 meters grading 0.8 g/t gold from drill hole GC26-127. The analyst stated that these results continue to support the continuity of mineralization throughout the Tyro Main zone while further defining the interpreted vein system geometry. He noted that drill hole GC26-125, drilled parallel to the mineralized structure, encountered continuous veins and veinlets, while nearby drill hole GC26-127, drilled at a slightly different orientation, returned comparable mineralization, and drill hole GC26-116 was designed to test the full width of the mineralized zone.

Stewart also reviewed the Phase II metallurgical test work released on April 22. The tests showed that ultra-fine grinding produced optimal recovery for fine-grained disseminated gold mineralization, with gold recoveries of 87% to 92% and silver recoveries of 55% to 83% when grinding to 0.075 mm material. In comparison, high-pressure grinding roll material at 6.2 mm and conventional grind material at 12.5 mm showed lower recoveries after 168 hours of leaching. Stewart wrote that additional metallurgical work and optimization could further evaluate recovery performance.

The analyst stated that these results come as the company advances toward its planned initial mineral resource estimate. According to Stewart, mineralization within the Tyro vein system has been traced for approximately 1.4 kilometers, with high-grade enrichment zones occurring in the northeastern part of the deposit, and 94 completed holes within the Tyro Main zone returning an average intercept of 28.2 meters grading 2.24 g/t gold. At the time of the report, Stewart noted that West Point Gold had completed 16,504 meters of its planned 20,000-meter drilling program, with assay results for an additional 24 holes still pending. Stewart stated that Red Cloud Securities does not assign a rating or target price to the company, and identified the initial mineral resource estimate for the Tyro Main zone and the receipt of the Jefferson Canyon drilling permit—both expected in 2026—as upcoming catalysts.

Additionally, Bob Moriarty of 321gold.com commented on the company's exploration activities, stating that West Point Gold continues to advance the Gold Chain Project with its fully funded 20,000-meter drilling program. Moriarty added that given the C$30 million in its treasury, he expects a strong performance when the company announces its upcoming 43-101 resource estimate in 2026.

According to the company's June 2026 investor presentation, the Gold Chain Project remains the focus of the 20,000-meter drilling program and the planned initial resource estimate. The presentation also outlined ongoing work at the company's Nevada projects. At Jefferson Canyon, permitting activities for an initial drilling program are advancing under an exploration and option agreement with Kinross, which is required to spend US$600,000 on exploration work and maintain the claims in good standing. The presentation further noted that at Baxter Spring, a late-stage exploration project in Nye County, Nevada, data compilation, geological modeling, integrated geochemical and structural interpretation, and permitting for a planned 5,000-meter drilling program in 2026 are underway, with historical work at Baxter Spring including 128 holes totaling approximately 13,000 meters. West Point Gold's investor presentation also indicated that as of March 31, 2026, estimated working capital was approximately C$27.8 million, and identified additional in-the-money warrants valued at approximately C$9.9 million.

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