Newcore Gold Ltd. (TSXV: NCAU | OTCQX: NCAUF) has engaged the independent engineering consultants Lycopodium, Micon International Limited and SEMS Exploration to prepare an updated National Instrument 43-101 PEA study for the company’s wholly-owned Enchi Gold Project in Ghana. Newcore is targeting completion and announcement of the results of the study by the end of H1 2024.
Luke Alexander, president & CEO of Newcore stated, “We believe updating our PEA is an important step in continuing to advance the development of our Enchi Gold Project in Ghana. The update will incorporate the current MRE that was announced earlier this year, updated cost estimates, as well as the significant metallurgical test work that has been completed on the project since the last economic study was completed in 2021.”
Newcore has engaged the independent engineering consultants Lycopodium, Micon International Limited, and SEMS Exploration to prepare an updated NI 43-101 PEA Technical Report for the Enchi Gold Project.
The PEA will incorporate the MRE completed in 2023, as well as the significant metallurgical test work completed since the last study in 2021. The study will be led by Lycopodium, who will conduct a process plant and infrastructure evaluation using their knowledge on operating Ghanaian gold projects. Micon is providing mine design and environmental services with mineral resource assessment supplied by SEMS Exploration. The combined study team has significant experience in successful development of not only PEA studies, but also subsequent studies and services including construction and operation.
This low-cost de-risking work will continue to advance the development of our district-scale Enchi Gold Project, showcase its potential as an open pit, heap leach operation, while also providing an underpinning of value for Newcore Gold.” Added Luke.
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