Nevada Gold Trench Hits 13.4 Meters of 6.55 g/t as Deeper Drilling Begins

Source: Streetwise Reports 08/06/2026

Westward Gold Inc. (WG:CSE; WGLIF:OTC; IM50:FSE) reported five gold zones at its Toiyabe Hills property, led by 13.4 meters grading 6.55 g/t gold within 34.8 meters at 2.84 g/t gold, as drilling advanced at the SSD target.

Westward Gold Inc. (WG:CSE; WGLIF:OTC; IM50:FSE) released assay results and mapping interpretations from the first of three trenches completed over the SSD target at its Toiyabe Hills property in Lander County, Nevada, including an interval of 34.8 meters grading 2.84 grams per tonne gold that contained 13.4 meters grading 6.55 g/t gold.

The 177-meter trench formed part of a 468-meter trenching program being completed in advance of drilling. It was located near the Roberts Mountains thrust and was designed to expose bedrock for continuous chip channel sampling and Anaconda-style mapping in an area with poor to no outcrop, while improving the company’s understanding of structural controls on gold mineralization at SSD.

Five gold zones were identified using a cutoff of 0.14 g/t gold. In addition to the 34.8-meter interval grading 2.84 g/t gold, the trench returned 3.0 meters grading 0.98 g/t gold, 18.9 meters grading 0.14 g/t gold, 26.2 meters grading 0.83 g/t gold, and 6.1 meters grading 0.21 g/t gold. Individual samples within the 34.8-meter interval ranged as high as 17.90 g/t gold.

The 34.8-meter interval was associated with quartz stringers, limonite, and specular hematite in a chert, mudstone, and siltstone sequence. The 26.2-meter interval was dominated by three high-angle faults striking between 318 and 322 degrees, clay alteration, and quartz stringers. Its higher-grade subinterval was pervasively clay altered with limonitic oxidation between two northwest-striking faults.

The 18.9-meter zone was hosted in a thrust zone and in the immediate footwall of a lamprophyre dike, while the 6.1-meter zone occurred along a normal fault juxtaposing upper-plate siliciclastic rocks against lower-plate carbonate rocks. Breccia, clay, quartz stringers, decalcification, and limonite were observed in the latter zone.

Westward said structural controls on gold mineralization included the Roberts Mountains thrust and high-angle northeast- and northwest-striking faults. Laterally extensive hydrothermal alteration was observed in upper-plate siliciclastic rocks and lower-plate carbonate rocks. Two oxidized and clay-altered lamprophyre dikes were also exposed along west-northwest-striking faults.

Elevated gold throughout the trench was associated with elevated arsenic, antimony, and mercury. The company completed and digitized detailed 1:500-scale Anaconda-style mapping to identify alteration type and intensity and model structural strikes and dips with increased precision.

“I’ve been mapping this ground and relogging historical drill holes for many years now, and this trench has been eye-opening in several regards,” lead technical adviser Steve Koehler said in the company news release. “Exposing bedrock over a significant distance has allowed us to properly characterize and measure the elusive (previously buried) high-angle faults that likely represent a vital part of the plumbing system driving grade at SSD.”

The first two shallow core holes completed at SSD, T2601 and T2602, were drilled proximal to the trench, with assays pending.

Gold Regains Ground as Mining Fundamentals Hold Firm

As of August 6 at 6:08 a.m. EDT, JMB reported a live gold spot price of US$4,283.44 per ounce, up US$28.60, or 0.67%. The source said, “Gold spot price can fluctuate by the second, driven by investment supply and demand, and other factors.”

Barron’s reported on August 5 that gold had declined more than 5% in 2026 following a 65% rally in the prior year, with the U.S. dollar’s recovery cited as one factor affecting the metal. The report said gold had recently held above US$4,000 and traded within a relatively narrow range since the end of June, while a small gain in July ended a four-month losing streak.

The report also addressed conditions across the gold mining sector. BCA Research’s Noah Weisberger and Rishabh Shah wrote that gold miners “are a valuable hedge against macro risks that would likely be damaging for equities.” They also described changes in mining company fundamentals, writing, “Capex is more disciplined, margins are high and rising…and they are largely independent of the AI story.”

According to the August 5 Barron’s report, Chris Mancini, portfolio co-manager of the Gabelli Gold Fund, said operating conditions had supported cash generation across the precious metals mining industry. “Precious metals miners are generating substantial amounts of free cash flow given profit margins of over US$2,000 per ounce, and are returning this cash to shareholders through buybacks and dividends,” Mancini said.

Reuters reported on August 5 that gold had advanced for a fourth consecutive session and reached its highest level in seven weeks, supported by weaker oil prices, a softer U.S. dollar, and lower Treasury yields amid growing hopes for the reopening of the Strait of Hormuz. IG market analyst Tony Sycamore attributed the move to changing expectations surrounding geopolitical and monetary conditions. “The sharp rally came on building optimism that a diplomatic breakthrough in the Middle East is close to being finalized,” Sycamore said. “This in turn would keep downside pressure on oil prices and reduce the need for central banks to raise rates, providing a clear tailwind for gold.”

Reuters also reported that expectations for a September U.S. rate increase had eased to 55% from 67% two days earlier. The benchmark U.S. 10-year Treasury yield had fallen, and the U.S. dollar index had come under pressure. The report noted that gold tended to perform better in a lower interest-rate environment because it yielded no interest.

Moriarty Called Recent Assays a “Monumental Achievement”

In an August 5 contributed opinion, 321gold.com’s Bob Moriarty discussed Westward Gold Inc. following the company’s August 4 assay results. Referring to the reported surface trenching interval of 13.4 meters at 6.55 g/t gold within 34.8 meters at 2.84 g/t gold, Moriarty wrote, “This press release represents a monumental achievement for the company.”

Moriarty said he believed the results represented a major discovery, writing, “I now believe they have made that colossal discovery, and with more drill results imminent, I think the market will recognize it.” He also described Westward’s technical team as consisting of “some of the world’s foremost experts in Nevada Carlin-type deposits.”

Moriarty noted that Westward had completed two shallow core holes beneath the trench, with assays pending. He also cited a 2026 drill program totaling 10,000 meters, with one RC rig having arrived and a second expected during August or early September. According to Moriarty, some planned holes were expected to extend 900 to 1,000 meters, while many were expected to reach 250 to 500 meters, for an anticipated total of 15 to 20 holes. He stated that Westward had just over CA$4 million in cash as of March 31 and that the drill program was fully funded.

Discussing the company’s valuation, Moriarty said it had been approximately CA$32 million at the previous Friday’s close. He wrote, “From a mathematical psychology standpoint, the stock offers excellent value.” He also stated that a 100-gram/meter hole “would likely propel it ten to fifteen times higher within six months.”

From Trenching to Expanded Drill Testing

Westward’s May corporate presentation outlined drilling, geochemistry, geophysics, mapping, and modeling work extending through 2026 and into the first half of 2027.

At SSD, the presentation described a roughly 200-meter-wide by 600-meter-long, northeast-striking zone of gold mineralization defined by seven RC and core holes. Mineralization was hosted in the Wenban Formation and was described as open in all directions within a northeast-striking dike corridor. The presentation identified decalcification, oxidation, carbon, sooty pyrite, shearing, and compressional features as being associated with the gold mineralization.

The presentation’s timeline included SSD trenching, followed by SSD step-out and infill drilling during 2026. In the latest company news release, Westward said the first two shallow core holes at SSD had already been completed and that the first of two RC drill rigs was expected to arrive in the coming days to begin deeper tests.

Westward said newly identified structures from the trench were being modeled in three dimensions using Leapfrog and examined in relation to gold mineralization observed at surface and in historical drilling. The company said the work had generated new targets and refined previously planned drill holes.

The corporate presentation also outlined Phase II drilling at the Campfire Target Complex during 2026. Phase I framework drilling had been completed in the summer and fall of 2025, totaling 7,163 meters of RC drilling. The company said that the program identified new zones of Carlin-type gold and associated pathfinder elements, with Phase II intended to use more discrete targeting of potential higher-grade zones.

El Segundo was also included in the 2026 drilling timeline for Phase I drilling. The presentation described El Segundo as a target south of Campfire in the footwall of the Hilltop Corridor, where lower-plate host strata crop out over broad areas. It identified mapped compressional features, alteration, and anomalous Carlin-suite elements at surface. [OWNERSHIP_CHART-11190]

Additional work shown on the timeline included detailed RC and core drill hole logging, 2026 assays and interpretation, and incorporation of new data into 3D models. The presentation also scheduled soil-grid, rock-chip, and road-cut sampling programs and 1:5,000-scale Anaconda-style geology and alteration mapping, comprising 50 days at Toiyabe Hills and 15 days at Coyote. Geophysical work on the timeline included magnetic survey interpretation, a gravity survey and interpretation, and CSAMT work and interpretation.

Ownership and Share Structure¹

Management, directors, and advisors hold 9.3% of Westward Gold. Institutional ownership was 23.3%. The rest are high-net-worth retail investors.

Westward Gold Inc. reported approximately 234.7 million shares outstanding and a public float of about 140.60 million shares.

The company’s market capitalization stands at roughly CA$43.19. Its 52‑week trading range spanned from CA$0.07 to CA$0.165.

Important Disclosures:

1. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Westward Gold.
2. James Guttman wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
3. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

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1. Ownership and Share Structure Information

The information listed above was updated on the date this article was published and was compiled from information from the company and various other data providers.

( Companies Mentioned: WG:CSE;WGLIF:OTC;IM50:FSE, )

Source: https://www.streetwisereports.com/article/2026/08/06/nevada-gold-trench-hits-13-4-meters-of-6-55-g-t-as-deeper-drilling-begins.html