Newcore Gold Ltd. [NCAU-TSXV; NCAUF-OTCQX] reported final drill results and has completed a successful 90,000-metre drill program at the company’s 100%-owned Enchi Gold Project in southwest Ghana, West Africa. Newcore’s multi-pronged exploration approach delivered on its goals. The company successfully outlined the potential resource growth along strike at all four deposits (Sewum, Boin, Nyam, Kwakyekrom); encountered strong results at previously drilled zones outside of the resource area (Kojina Hill, Eradi); intersected high-grade gold at depth, outlining the potential to delineate underground resources; and identified new discoveries from successful first pass drilling on early-stage targets (Sewum South, Tokosea, Sewum Ext. Parallel Structure).
The largest drill program to ever be completed on the Project was successful in highlighting the district scale potential across the 216 km2 property and the strong potential to delineate additional resources at Enchi. Results from the drill program will be incorporated into an updated Mineral Resource Estimate expected to be completed by the end of 2022. Newcore is now planning the next phase of discovery and resource expansion drilling at Enchi.
Highlights from the 2020 – 2022 Drill Program at Enchi includes the largest drill program to ever be completed at Enchi (92,583 metres) with results highlighting the potential for significant resource growth across the Project. All deposits and targets remain open along strike and at depth, with drill results highlighting the potential for resource growth in both shallow oxides and at depth.
Drilling intersected the highest-grade gold interval to date, outside the limits of the pit-constrained mineral resource area. RC hole KBRC250 at Boin intersected 95.16 g/t gold over 2.0 metres from 109 metres.
The deepest drilling to date completed on the project intersected high-grade mineralization in the sulphides. Drilling at Nyam defined two northerly plunging high-grade zones down to a depth of 300 metres which remain open for further expansion. Results include hole NBDD048 which intersected 4.51 g/t gold over 13.0 metres from 236 metres.
There were three new discoveries from first pass drilling on new structures. Drilling on a parallel structure at Sewum Extension, located 200 metres east of the Sewum Deposit, intersected 1.98 g/t gold over 25.0 metres from 3.0 metres in hole SWRC164.
Shallow drilling on two of the largest untested anomalies at Enchi, Sewum South and Tokosea, showcased the potential for additional resource areas across the property.
Luke Alexander, President and CEO, stated, “Since we relaunched Newcore in mid-2020, we have not only retained strong alignment with shareholders through management and director’s 24% equity interest, but we have also built out a very strong institutional shareholder base that currently owns approximately 40% of the equity, we have completed two resource updates and a Preliminary Economic Assessment, and we have now also completed the largest drill program ever on the Project. Our multi-pronged exploration approach delivered on the objectives we set at the start. We outlined near surface resource expansion potential along strike at all four of our existing deposits, we achieved strong results from drilling at previously drilled areas, we encountered high-grade intercepts at depth which outlined the potential for delineating underground resources, and we made three new greenfield discoveries. We have only just scratched the surface of the gold potential at Enchi. We look forward to continuing to unlock the value of Enchi through exploration and the drill bit, with a next phase drill program currently being planned for later this summer.”
Greg Smith, VP Exploration, stated, “This drill program has significantly advanced our geological understanding of the potential size and scale at Enchi. Results from this largest-ever drill program on the Project highlight the potential to define gold mineralization on the same scale and magnitude as the significant gold deposits along the Sefwi-Bibiani Gold Belt. The success we have had with drilling, in both oxide and sulphide mineralization, highlights the potential for Enchi to develop into a much larger project through additional exploration. We are excited to be on a path to unlocking that potential.”
The Enchi Gold Project hosts an Inferred Mineral Resource of 1.41 million ounces of gold at 0.62 g/t.