West Point closes its drill program at Gold Chain — resource next

West Point Gold has finished drilling. The company wrapped a 21,079-metre program at its Gold Chain project in Arizona, spread across three targets — Tyro Main, Northeast Tyro and Black Dyke. Of that total, 4,907 metres of assays from Tyro Main and Black Dyke are still at the lab. The company says drilling is set to resume in mid-September, this time aimed at the depths below the full 1.2-kilometre Tyro Main–Northeast Tyro trend. When we last covered West Point, the company had just stepped out at Northeast Tyro with two holes carrying real gold, and it promised two things: the balance of assays, and a maiden resource to follow.

The first promise is partly kept — some assays have come in, but 4,907 metres still sit pending, so that item stays open. The second is now on a clock: management said on August 5 the maiden resource estimate is due late in the third quarter or early in the fourth quarter of 2026. There is also a change in the corner office. Quentin Mai — the CEO who built and sold Corvus Gold, and the name we cited last time — resigned as director in November 2025. Derek Macpherson took over. Macpherson is a former mining analyst and investment banker who ran the same Arizona asset back when it traded as Gold79; his record is exploration and capital markets, with no production or M&A exit on it. In February the company raised C$25 million at C$1.10 a share, and in August, Anthony Paterson was elevated from Chairman to Executive Chairman ahead of the resource. Over the past three months the stock rose 18.7 percent while the junior gold index gained 16.6 percent — a roughly two-point edge, thin enough that most of the move looks like the sector re-rating rather than anything specific to Gold Chain.

What to watch: the 4,907 metres of pending assays, the maiden resource due late Q3 or early Q4, and the mid-September restart aimed at depth. The honest caveats: this project is still pre-resource despite drilling since the Gold79 era, so there is no resource, scoping study or PEA yet. There are no new intercepts, grades or true widths in this update to weigh — only the program status. And Gold Chain was repackaged into West Point from Gold79 under the same CEO, which readers can judge as organic building or corporate restructuring.

Public sources: source 1source 2source 3source 4source 5source 6