Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) upon the completion of a C$15M equity financing, has increased its 2024 – 2025 drill programme to 35,000m.
Newcore has also released additional drill results from its current drill programme underway at Enchi. Shallow Reverse Circulation drilling at the Boin Gold Deposit intersected multiple zones of gold mineralization, with hole KBRC328 intersecting 1.28g/t gold (“g/t Au”) over 63.0m from 9m, and hole KBRC335 intersecting 2.18g/t Au over 23.0m from 6m including a higher-grade interval of 5.58 g/t over 8.0m from 16m.
The expanded drill programme will allow Newcore to accelerate completion of the drilling required for resource conversion in advance of commissioning a Pre-Feasibility Study later this year. This expanded drill programme will also include a subset of drilling focused on discovery and resource growth with drilling to be completed on earlier-stage exploration targets along with drilling focused on defining the resource growth potential at depth. Thus far, the drill programme underway at Enchi has primarily focused on resource growth and infill drilling designed to convert Inferred Resources to Indicated. Drilling completed to date as part of the 2024 – 2025 drill programme continues to prove out the continuity of gold mineralization and potential for future resource growth across the Project.
Highlights from Drilling at the Boin Gold Deposit at Enchi
- Drilling continues to encounter wide zones of gold mineralization near-surface, within the oxidized mineralization.
- KBRC328 intersected 1.28g/t Au over 63.0m from 9m in the oxide/transition zones, with a second intercept of 0.76g/t Au over 18.0m from 78m in the upper sulphide zone.
- KBRC335 intersected 2.18g/t Au over 23.0m from 6m, including a higher-grade interval of 5.58g/t Au over 8.0m from 16m in the oxide/transition zones.
- In the south-central portion of Boin, drilling encountered wide zones of gold mineralization within the upper sulphide horizon.
- KBRC337 intersected 1.06g/t Au over 47.0m from 79m
- KBRC341 intersected 0.64g/t Au over 69.0m from 51m
Luke Alexander, President and CEO of Newcore stated, “We are thrilled to be increasing the size of our drill programme at Enchi to 35,000m on the back of a very successful equity financing which was led by strong support from both new and existing institutional shareholders. We are in a very strong financial position to continue to drill and advance the development of Enchi for the next 18 – 24 months, with a focus of unlocking the district scale opportunity at Enchi while concurrently advancing the development of the Project towards commissioning of a PFS in the second half of 2025.”
To read more about this, please visit www.newcoregold.com
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