The biggest US gold discovery of the 21st century was made by AngloGold Ashanti (NYSE:AU) in Nevada’s Walker Lane Trend. What began as a humble exploration program in the midst of a gold bear market, has blossomed into what stands today as a ~20,000,000 ounce gold discovery. AU’s ‘Beatty Gold District’ already rivals some of the biggest North American gold discoveries in history, including Nevada’s world famous Carlin Trend.
Despite its recent gold discovery success, the Walker Lane was largely neglected for gold exploration during the late 20th century. After discoveries were made in the early 1980s in the Carlin Trend, the industry largely concentrated its exploration efforts on the Carlin Trend in northern Nevada. The Carlin Trend had already proven to be an extraordinarily productive area for gold mining, hosting large deposits of high-grade, disseminated gold that were relatively easier to mine using modern methods like heap leaching. This success diverted attention and resources away from other regions, including the Walker Lane Trend.
In addition, many of the gold deposits in the Walker Lane Trend are low-sulfidation epithermal systems. During the late 20th century, these types of deposits were less well understood and less sought after than the disseminated gold systems of the Battle Mountain and Carlin Trends. The epithermal systems in the Walker Lane were often considered lower priority due to the challenges of identifying and extracting their high-grade, but often erratic gold mineralization.
However, with the turning of the century some new eyes gazed upon the Walker Lane with fresh geologic ideas. Roughly a decade ago, a number of gold discoveries began to take shape across the Walker Lane. Most notably, AngloGold Ashanti’s Silicon and Merlin gold discoveries are significant developments in Nevada’s Beatty District, marking some of the most substantial greenfield gold finds in the United States in recent years.
Silicon Deposit
Exploration at the Silicon deposit began in 2014, with AngloGold Ashanti intensifying efforts in subsequent years. By December 2022, the Silicon deposit reported a combined Measured and Indicated Mineral Resource of 3.4 million ounces of gold, with an additional Inferred Mineral Resource of 0.8 million ounces.
Merlin Deposit
The Merlin deposit, situated immediately south of Silicon, has been a focal point of AngloGold Ashanti’s exploration activities. In 2023, the company conducted an extensive drilling program, completing over 100 kilometers of drilling across 144 holes. This effort led to the declaration of a 9.1 million-ounce Inferred Mineral Resource at Merlin, averaging 0.99 grams per tonne of gold. This discovery is considered the largest greenfield gold find in the U.S. in over a decade.
Developments Across The Walker Lane
AngloGold Ashanti is advancing plans to integrate the Silicon and Merlin deposits into a cohesive mining operation, referred to as the Expanded Silicon project. As of early 2024, the company has completed approximately 300,000 meters of drilling and is progressing with a prefeasibility study. The mineralization at both deposits is characterized as epithermal gold. The company forecasts initial production in the Beatty District by 2026.
In addition, Blackrock Silver (TSX-V:BRC) and Summa Silver (TSX-V:SSVR) are actively drilling near Tonopah, Nevada. Both Blackrock and Summa have published resource estimates for their respective gold/silver deposits near Tonopah. In particular, Blackrock intends to publish an updated resource estimate in 2025 that will include a combination of resource conversion drilling (to measured & indicated) and step-out drilling. The area near Round Mountain is seeing increased exploration activity from multiple juniors, and from Kinross Gold itself. And at the southern end of the Walker Lane, the Oatman District is experiencing an uptick in both active mining and exploration activities.
New Kid On The Block
Friday afternoon, I had the opportunity to speak with West Point Gold (TSX-V:WPG, OTC:WPGCF) CEO Quentin Mai about WPG’s latest drill results at its Gold Chain Project in NW Arizona. West Point is the new kid on the block in the Walker Lane with four gold projects spanning from northwestern Arizona (90 minutes from Las Vegas) to north of Tonopah, Nevada. WPG calls its Nevada strategy “surround Round Mountain”, however, the company’s primary focus today is its Gold Chain Project near Bullhead City, Arizona.
Gold Chain is located in the Oatman District of NW Arizona, directly north of the Moss Mine (now owned by Mako Mining). Moss is an operating gold/silver mine, and there are numerous active exploration programs across the district. West Point completed its Phase I drill program at Gold Chain in December and recently began announcing results from the Tyro Main Zone.
On January 15th, West Point announced that it had intersected 52.25 meters grading 1.53 g/t gold, Including 36.1 meters of 2.02 g/t gold at the Tyro Main Zone. Then on January 23rd, West point managed to top itself with an even better gold intercept at Tyro:
West Point Gold Intersects 42.8m of 2.50 g/t Au, including 11.7m of 5.94 g/t Au at Tyro Main Zone
The Phase I drill program at Tyro was successful in testing the main structure at Tyro, and confirming an abundance of high-grade near surface gold along a ~700 meter strike extent. Phase II drilling at Gold Chain is expected to begin in February and consist of a minimum of 3,000 meters of RC drilling. The object of Phase II drilling will be to continue to build ounces in the Tyro Main Zone, in addition to testing step-out targets at the Frisco Graben and Tyro Extension.
Exclusive interview with West Point Gold CEO Quentin Mai:
_________________________________________________________________________________
Disclaimer
The article is for informational purposes only and is neither a solicitation for the purchase of securities nor an offer of securities. Readers of the article are expressly cautioned to seek the advice of a registered investment advisor and other professional advisors, as applicable, regarding the appropriateness of investing in any securities or any investment strategies, including those discussed above. West Point Gold Corp. is a high-risk venture stock and not suitable for most investors. Consult West Point Gold Corp’s SEDAR profiles for important risk disclosures.
EnergyandGold has been compensated to cover West Point Gold Corp. and so some information may be biased. EnergyandGold.com, EnergyandGold Publishing LTD, its writers and principals are not registered investment advisors and advice you to do your own due diligence with a licensed investment advisor prior to making any investment decisions.
This article contains certain forward-looking information and forward-looking statements within the meaning of applicable securities legislation (collectively “forward-looking statements”). Certain information contained herein constitutes “forward-looking information” under Canadian securities legislation. Generally, forward-looking information can be identified by the use of forward-looking terminology such as “expects”, “believes”, “aims to”, “plans to” or “intends to” or variations of such words and phrases or statements that certain actions, events or results “will” occur. Forward-looking statements are based on the opinions and estimates of management as of the date such statements are made and they are subject to known and unknown risks, uncertainties and other factors that may cause the actual results, level of activity, performance or achievements of the Company to be materially different from those expressed by such forward-looking statements or forward-looking information, standard transaction risks; impact of the transaction on the parties; and risks relating to financings; regulatory approvals; foreign country operations and volatile share prices. Although management of the Company has attempted to identify important factors that could cause actual results to differ materially from those contained in forward-looking statements or forward-looking information, there may be other factors that cause results not to be as anticipated, estimated or intended. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Actual results may differ materially from those currently anticipated in such statements. The views expressed in this publication and on the EnergyandGold website do not necessarily reflect the views of Energy and Gold Publishing LTD, publisher of EnergyandGold.com. Accordingly, readers should not place undue reliance on forward-looking statements and forward looking information. The Company does not undertake to update any forward-looking statements or forward-looking information that are incorporated by reference herein, except as required by applicable securities laws. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.sedarplus.ca for important risk disclosures. It’s your money and your responsibility.