WestGold Metals acquired an option for 90% interest in three Idaho precious metal projects, committing CAD 5 million exploration spending.
WestGold Metals Corp. has announced a significant strategic move, entering into a mineral property option agreement to acquire a 90% interest in three precious and base metal exploration properties located in Idaho, USA. This agreement, made with Silver Rock Resources, Inc., a wholly-owned subsidiary of IDEX Metals Corp., marks WestGold's entry into North American precious metals exploration, aligning with its recently declared strategic focus following a name change in March 2026.
The acquired portfolio, collectively known as the "Idaho Portfolio," includes the Amie Project, the Silver Rock Project, and the Demming Project. These properties are situated in the Owyhee District of southwest Idaho, an area noted for its historical significance in precious metal production but largely underexplored with modern techniques. WestGold's CEO, James Hocking, appointed in January 2026, has been instrumental in building the management and technical expertise necessary to pursue high-quality mineral exploration assets in North America.
Under the terms of the option agreement, WestGold has the exclusive right to acquire a 90% undivided interest in the properties. Upon the full exercise of this option, a joint venture will be established, with WestGold holding a 90% participating interest and Silver Rock Resources retaining a 10% carried interest until the commencement of commercial production. WestGold will also serve as the operator, responsible for all project costs, including exploration, development, and mining operations, until commercial production begins.
The financial commitments for WestGold include a CAD 100,000 cash payment to the Optionor and the issuance of 1,000,000 common shares within 30 business days. An additional 1,000,000 common shares will be issued on the first anniversary of the effective date. Furthermore, WestGold is obligated to incur a minimum of CAD 5,000,000 in aggregate exploration expenditures over a three-year period, with specific spending targets for each anniversary. A 1.5% Net Smelter Returns (NSR) royalty will be granted to the Optionor upon exercise, which WestGold can reduce to 1.0% by paying CAD$2,000,000. IDEX Metals will also retain a 9.9% equity position in WestGold, providing its shareholders with continued exposure to potential exploration success.
The Amie Project is highlighted as WestGold's flagship asset within the portfolio and its immediate exploration priority. It hosts a historic mine with a vertical gold-silver quartz fissure vein system, and dozens of additional parallel veins remain undrilled. The Silver Rock Project features a high-grade silver system with epithermal veins and historical infrastructure. Importantly, none of these projects currently have defined mineral resources or have undergone modern systematic exploration or drilling. WestGold plans to initiate a maiden drill program at Amie, led by Vice President Exploration Antoine Soucy-Fradette, and conduct reconnaissance at the other projects. This move represents a significant industry-specific impact, as it brings renewed exploration focus to a historically rich, yet underexplored, region in Idaho.
