On November 13, 2024, Westward Gold Inc. (WG:CSE; WGLIF:OTCMKTS) released a technical update regarding their Toiyabe-Hills Project in the Cortez Gold Trend. The detailed press release appears primarily targeted toward major mining companies rather than retail investors.
Over the past three years, Westward Gold has consolidated a Carlin-style gold project in the region. This project is in the Cortez Gold Trend and named the Toiyabe-Hills Project.
Recent data analysis led to a shift in exploration focus, with the company presenting evidence suggesting they’ve identified the potential source of the area’s gold mineralization.
The technical team includes VP Exploration Rob Edie and advisor Steve Koehler, who previously developed a 5-million-ounce gold resource at Gold Standard Ventures’ southern Carlin Trend project, which sold for $250 million. Kelly Cluer, former lead geologist for Kinross in Nevada, has also joined the team. Together, they have been involved with twelve Carlin-style gold deposits.
The team has identified the previously undrilled Campfire target, which spans across the recently consolidated Toiyabe, Turquoise Canyon, and East Saddle properties.
Their analysis indicates that the gold-rich lower plate rocks may be accessible at approximately 150 meters depth, compared to 600-715 meters at nearby discoveries. The Toiyabe District displays geological, structural, and hydrothermal alteration patterns that align with documented characteristics of Carlin gold deposits in the Carlin and Cortez Districts.
The company currently has approximately $1 million in funding. While this budget constraints deeper drilling programs, it could support initial testing of the shallow lower plate rocks. Deep 1,000-meter holes, estimated at $1 million each, would likely require major mining company involvement, however, positive assays may bring life into the shares.
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