Gold mining companies announce drilling and economic assessments

West Point Gold is initiating a new 30,000-meter drilling program at its Gold Chain project in Arizona. The program will utilize a combination of RC and core drilling, primarily targeting the expansion of the Tyro Main and NE Tyro zones. Additional targets include Black Dyke, Sheep Trail, Bull 8, and the Frisco Graben.

Separately, White Gold has released a Preliminary Economic Assessment (PEA) for its namesake project in Canada’s Yukon Territory. The PEA describes a 9.4-year open-pit operation capable of producing an average of 188,000 ounces of gold per year. The assessment reports an after-tax 41% Internal Rate of Return (IRR) and a 1.5-year payback period, based on a gold price of USD$3,600/oz.