Newcore Gold (TSXV: NCAU, OTCQX: NCAUF) has increased its 2024–2025 drill program at the Enchi Gold Project in Ghana to 45,000m, supported by a strong cash position of approximately C$10M following the exercise of warrants in late September.
The expanded program follows continued success from drilling that has confirmed the continuity of gold mineralization and the potential for further resource growth at Enchi. Phase one of the program focused on infill and resource conversion drilling to upgrade Inferred Resources to Indicated, while the second phase now underway will target discovery and growth through deeper diamond drilling on higher-grade structures and step-outs along strike.
Highlights from the latest results include intersections such as 2.25 g/t Au over 56.0 m including 3.83 g/t Au over 15.0 m at the Boin deposit, 1.96 g/t Au over 62.0 m including 2.31 g/t Au over 25.0 m and 2.23 g/t Au over 28.0 m also at Boin, and 1.85 g/t Au over 62.0 m including 8.36 g/t Au over 10.0 m at the Sewum deposit. Nearly 98.5% of holes drilled to date have intersected gold mineralization.
Luke Alexander, president and CEO of Newcore Gold, commented, “We are thrilled to be well funded to continue to unlock the district scale potential of our Enchi Gold Project in Ghana through the drill bit. With most drilling to date at Enchi targeting shallow mineralization to an average vertical depth of 100 metres, we believe we have only just begun to define the larger scale potential of the Project when compared to other multi-million-ounce gold mines, including Asante’s Chirano and Bibiani mines as well as Newmont’s Ahafo mine, which are located along the Sefwi-Bibiani belt. We are excited to be shifting to this next phase of drilling which will include diamond drilling targeting the higher-grade potential at depth. Newcore has a busy year ahead, in tandem with the drilling underway we continue to work towards completing the technical work required to advance Enchi to a Pre-Feasibility Study in 2026.”
Greg Smith, vice president of exploration of Newcore Gold, added, “The drilling completed to date as part of the first phase of the 2024–2025 drill program has been successful on a number of fronts. The drill results highlight strong continuity of mineralization, the potential for resource growth with gold mineralization encountered below the limits of the pits that constrain the current Mineral Resource Estimate, along with drilling encountering higher-grade zones of gold mineralization above the average grade of the deposits. With the first phase of the drill program focused on the shallow drilling required for resource conversion complete, I am excited to now focus the drill bit on the resource growth potential that exists on the Project both along strike and to depth.”
Enchi currently hosts an Indicated Mineral Resource of 41.7 million tonnes grading 0.55 g/t Au for 743,500 ounces and an Inferred Mineral Resource of 46.6 million tonnes grading 0.65 g/t Au for 972,000 ounces.
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