West Point Gold Corp. Acquires Nevada's Baxter Spring Project for $5.875M
West Point Gold Corp. has completed the acquisition of the Baxter Spring Project, located in Nevada's Manhattan Mining District. The project has seen significant historical work, including drilling and geophysical surveys. The acquisition remains subject to final approval from the TSX Venture Exchange.
The Baxter Spring Project boasts impressive historical drilling results, including a high-grade intercept of 24.4 meters at 2.49 grams per tonne of gold (g/t Au) and another notable interval of 12.2 meters at 60.3 g/t Au. West Point Gold Corp. acquired a 100% interest in the project by issuing 13,500,000 common shares to Baxter's shareholders, valued at $0.435 per share. The issued shares are subject to a statutory hold period until February 3, 2026, with additional contractual hold periods agreed upon with Baxter's shareholders.
The acquisition of the Baxter Spring Project by West Point Gold Corp. is an exciting development in the Nevada gold mining scene. With its impressive historical drilling results and strategic location near existing mines, the project holds great potential. The final approval from the TSX Venture Exchange is still pending.
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