Newcore Gold Ltd (TSXV: NCAU) has completed a successful 90,000 metre drill programme at the company’s 100% owned Enchi Gold Project in Ghana.
Management said Newcore’s multi-pronged exploration approach delivered on its goals:
- 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 programme to ever be completed on the Project was successful in highlighting the district scale potential across the 216 sq. km property and the strong potential to delineate additional resources at Enchi.
Results from the drill programme 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 Programme at Enchi
- Largest drill programme 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 Au over 2.0 m from 109 m.
- Deepest Drilling to Date Completed on the Project, Intersected High-Grade Mineralisation 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 Au over 13.0 m from 236 m.
- 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 Au over 25.0 m from 3.0 m 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.
“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 programme ever on the Project,” President and CEO, Luke Alexander, said.
“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 programme currently being planned for later this summer.”
Greg Smith, VP Exploration of Newcore, said the drill programme has significantly advanced the company’s 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 mineralisation 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 mineralisation, 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.”
Final Drill Results From the 90,000 Metre Drill Programme and On-Going Exploration
Final drill results from the 2020 – 2022 drill programme included Reverse Circulation (“RC”) drilling targeting oxide mineralisation within the southern extension of the Boin Gold Deposit, as well as diamond drilling (DD) targeting deeper mineralisation at all resource areas. All holes intersected gold mineralisation, with results including 1.16 grams per tonne gold (“g/t Au”) over 20.0 metres (m) from 221 m in the sulphides, including 4.92 g/t Au over 1.8 m from 221 m at Boin.
Additional exploration work is on-going, including metallurgical testwork and trenching of high-priority surface anomalies in advance of a next phase drill programme anticipated to commence in late Q3 2022.
For further information please visit: https://newcoregold.com/
