Westward Gold Might Have Tapped into Carlin Style Gold
Many years ago I took a course in mathematical psychology. It’s the use of mathematics to determine alternatives of action. In the case of Westward Gold, it gives me a perfect opportunity to demonstrate how the use can help you make an intelligent decision.
On April 26th the company announced partial results from a 612-meter drill hole I discussed two months ago. The press release gave assays from the first 244 meters in the upper plate. There are two more batches of core to be assayed and released. Another 86.9 meters has been sent to the assay lab and result “could” be out by mid-May. And the remaining 280 meters of core is pending delivery to the assay lab. Look for results in 3-4 weeks maximum.
Today’s release is important for a lot of reasons. First, it showed gold in the upper plate rocks that are not the favorable host in the Carlin style deposits. So for gold to be in the upper plate, it had to come up from somewhere and the carbonate lower plate rocks like gold a lot more than the upper plate rocks. But nearby Goldstrike, Leeville and Deep Star all had some gold in the upper plate rocks. In addition to the gold in the upper plate rocks near surface, the core showed very high numbers for arsenic values. That is a really important indicator for the presence of gold. Arsenic loves gold.
I’ve made a lot of trips to Nevada over the past twenty-two years. I know almost all of the people in the technical team. Across the board they are first rate. They know Carlin systems and they know Nevada. My gut is telling me they are on to something potentially very big. This company and this project is a big sleeper most people have missed.
Here’s the math. If they hit a nice interval of greater than two gram gold, they are near the feeders with the ultra high grade. If they have a nice interval above 5-6 grams, it’s a giant hit. At the close on the 26th the stock was $.16, up 33% from when I wrote two months ago and up 10% on the day. The market cap of the company at the close was right at $13 million CAD. If they hit major Carlin style gold in either of the next two sets of assays, the potential is for a 1,000% return over time.
If they don’t hit anything the stock will be basically unchanged. They have five other projects they can work on. So if they hit, they can go up ten-fold and if they miss, it won’t change anything. The company has a $400,000 USD payment to own Toiyabe due before October 15th of 2023 to own 100%.
I had a fair size position before today. I added to it on the open today. Look for some results by May 15th and more by May 31st.
Westward Gold is an advertiser and I own shares so naturally I am biased. Do your own due diligence.
Westward Gold Inc