Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has released an updated independent NI 43‑101 Mineral Resource Estimate for the Enchi Gold Project in Ghana, expanding the Indicated resource to more than 1.5Moz and providing a strengthened foundation for the Pre‑Feasibility Study scheduled for completion in June 2026.
The updated resource includes 83.6Mt at 0.56g/t gold for 1,502,000oz in the Indicated category, more than doubling the previous 2023 estimate, and an Inferred resource of 40.1Mt at 0.49g/t gold for 626,000oz. The estimate is based on drilling completed up to 6 October 2025 and incorporates only 28,000m of drilling from the company’s ongoing 60,000m programme, leaving considerable growth potential unaccounted for. All four pit‑constrained deposits — Sewum, Boin, Nyam, and Kwakyekrom — remain open along strike and at depth.
Newcore Gold highlighted that the average depth of the current resource pits is just 85m, with most drilling focused on shallow mineralisation to approximately 125m depth. Limited deeper drilling, completed down to 200–350m, has already returned high‑grade intercepts at Boin, including:
- 3.54g/t Au over 23m from 253m
- 3.22g/t Au over 17m from 327m
- 173.75g/t Au over 1.0m from 264m
- 147.50g/t Au over 1.0m from 310m, including the first visible gold encountered at Enchi
Luke Alexander, president and CEO of Newcore Gold, commented, “We are excited with the progress we are achieving at Enchi. The substantial conversion of resources to the Indicated category, more than doubling the Indicated ounces, de‑risks the project development and will form the basis for the Pre‑Feasibility Study that is underway. The Resource continues to highlight the multi‑million‑ounce potential of the Project, and with drilling underway and not yet included in this resource, we believe we are in a unique position to continue to highlight resource growth via the drill bit.”
Greg Smith, vice president of exploration of Newcore Gold, added, “We have a district‑scale exploration opportunity at Enchi, and with this latest resource estimate we continue to highlight the multi‑million‑ounce potential that exists at the Project. With drill rigs turning, we are excited to continue proving out the longer‑term growth potential across Enchi, particularly within the deeper high‑grade shoots.”
Newcore Gold continues to advance technical and development work for the PFS, including metallurgical testwork, hydrogeological studies, geotechnical analysis and environmental baseline programmes, alongside ongoing drilling focused on expanding high‑grade mineralisation at depth.
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