Welcome to our dedicated page for West Point Gold news (Ticker: AUSVF), a resource for investors and traders seeking the latest updates and insights on West Point Gold stock.
West Point Gold Corp. (AUSVF) delivers focused gold exploration across Arizona and Nevada's Walker Lane Trend, leveraging strategic partnerships and systematic drilling programs. This news hub provides investors with essential updates on resource development, corporate milestones, and operational advancements.
Access authoritative reports on merger developments with Bullet Exploration, drilling results from the Gold Chain project, and collaborations with industry leaders like Kinross Gold. Our curated news collection enables informed tracking of maiden resource progress, permitting updates, and technical report filings.
Key updates include exploration expenditure allocations, geophysical survey outcomes, and corporate governance enhancements. Content is rigorously verified to meet NI 43-101 standards, ensuring reliability for investment research and sector analysis.
Bookmark this page for real-time access to West Point Gold's evolving exploration narrative, including Nevada district expansions and Arizona trenching results. Regular updates provide transparency into the company's methodical approach to gold discovery in North America's most prospective mining corridors.
Derek Macpherson has acquired 240,000 units of Gold79 Mines (AUSVF) in a private placement that closed on October 9, 2024. Each unit, priced at $0.25, consists of one common share and one-half warrant, with the total purchase amounting to $60,000. The warrants are exercisable at $0.40 per share until October 9, 2026. Following this acquisition, Macpherson and joint actors' ownership decreased from 7.7% to 6.3% of outstanding shares on an undiluted basis. If all warrants and stock options were exercised, their ownership would represent 10.4% on a partially-diluted basis. The securities are subject to a hold period expiring February 10, 2024. Macpherson acquired these securities for investment purposes and may adjust his holdings based on market conditions and other factors.
Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) has closed the first tranche of its $4,000,000 non-brokered private placement, raising $2,190,000 through the issuance of 8,760,000 units at $0.25 per unit. Each unit includes one common share and one-half common share purchase warrant. The company is now preparing for a 1,000m core drilling campaign at its Gold Chain project in Arizona, expected to commence later this month.
The funds raised will be used for exploration expenditures, property costs, and working capital. This financing is part of Gold79's proposed amalgamation with Bullet Exploration Inc., aiming to create a well-funded gold exploration company focused on the southwest United States. The transaction is expected to result in Gold79 and Bullet shareholders holding approximately 54% and 46% of the combined company, respectively.
Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) announces a non-brokered private placement to raise $4,000,000 in connection with its proposed amalgamation with Bullet Exploration Inc. The offering comprises 16,000,000 units at $0.25 per unit, each including one common share and half a warrant. Warrants are exercisable at $0.40 per share for 24 months. The first tranche is expected to close around September 30, 2024. Proceeds will fund exploration at Gold Chain, Arizona, and potentially Bullet's Jefferson North project. The transaction aims to create a well-funded gold exploration company focused on the southwest United States, with existing Gold79 and Bullet shareholders holding approximately 54% and 46% respectively post-merger.
Bullet Exploration Inc. (TSXV: AMMO) and Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) have entered into a definitive amalgamation agreement. Gold79 will acquire all issued and outstanding shares of Bullet, creating a well-funded gold exploration company focused on the southwest United States. Key points:
- Bullet shareholders will receive 1 Gold79 share for every 3 Bullet shares
- Existing Gold79 and Bullet shareholders will hold 54% and 46% respectively of the combined entity
- Gold79 plans to raise C$4,000,000 in connection with the transaction
- The combined entity will focus on delivering a maiden resource at Gold Chain project in Arizona, exploring Jefferson North in Nevada, and advancing the Jefferson Canyon project with Kinross
The merger aims to create a multi-project SW US Gold Explorer with improved financial strength and operational synergies.
Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) and Bullet Exploration Inc. (TSXV: AMMO) have entered into a definitive amalgamation agreement, creating a well-funded gold exploration company focused on the southwest United States. Under the terms of the transaction, Bullet shareholders will receive one Gold79 share for every three Bullet shares held. The combined entity will focus on:
1. Delivering a maiden resource at the Gold Chain project in Arizona
2. Exploring the newly acquired Jefferson North Gold-Silver project in Nevada
3. Advancing the Jefferson Canyon project in Nevada with partner Kinross
The transaction includes a planned C$4,000,000 equity financing and is expected to close by November 30, 2024, subject to regulatory approvals and shareholder consent.
Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) has received an Acceptance Letter from the United States Forest Service (USFS) for its Plan of Operations (POO) to explore the Jefferson Canyon Project in Nevada. This marks a positive step in the permitting process, although drilling has not yet been approved. The next steps include public consultation, state heritage agency review, and other assessments before a final decision and bonding.
The Jefferson Canyon project, located 7 km from Kinross's Round Mountain operations, has 145 historical drill holes with promising results. Gold79 entered an Exploration and Option agreement with Kinross in 2022. While there's a possibility of drilling in 2024, it's more likely that the permitting process will extend beyond this year.
Additionally, Gold79 has issued 306,396 common shares related to a US$48,000 payment for its Gold Chain project option agreement.
Gold79 Mines (TSXV: AUU) (OTCQB: AUSVF) has announced its intention to issue 306,396 common shares to fulfill a US$48,000 (CAD$66,024) share payment obligation. This payment is part of an option agreement for a portion of the company's Gold Chain project in Arizona. The issued shares will be subject to a four-month and one-day statutory hold period from the date of issuance. The transaction is pending TSX-V approval.
Gold79 Mines has released the results of its latest trenching program at the Tyro Main Zone, highlighting significant gold mineralization. Key findings include Trench 1 with 39.7 meters averaging 1.14 g/t Au, including a high-grade section of 9.5 meters at 2.08 g/t Au. Additionally, Trench 13 extended the zone by 40 meters to the northeast, showing 4.7 meters at 7.64 g/t Au. This program confirms the geologic model intersecting the White Spar Fault and suggests new high-grade targets for future drilling. A total of 15 trenches were excavated, and 217 samples were collected, offering improved geological understanding and potential for higher-grade resource estimation. Alongside, the company also closed a private placement financing, raising $718,250 to fund further exploration activities.
Gold79 Mines announces the passing of Dr. James M. Franklin, a key director since 2003. Dr. Franklin's contributions to geoscience, particularly regarding the Canadian Shield, earned him global recognition, including induction into the Canadian Mining Hall of Fame in 2019. His expertise and dedication significantly influenced both academia and industry, making a lasting impact on Gold79's exploration strategies. The company expresses deep condolences to his family, acknowledging his invaluable knowledge and positive influence.
Gold79 Mines has completed a trenching program at the Tyro Main Zone of the Gold Chain Project, covering 358 meters with 15 trenches. Preliminary insights suggest better continuity of quartz veining. Assay results from 217 samples are pending, expected in 4-6 weeks. This trenching program will guide the design of a Fall 2024 drilling campaign. Initial observations include a 50-meter extension of known veins and the identification of a broad envelope of banded chalcedony-adularia veins. The company also extended the closing date of its private placement financing to June 26, 2024, having raised $718,250 so far. The project is supervised by Robert Johansing, adhering to NI 43-101 standards.
