Newcore Gold Ltd. (TSXV: NCAU) has filed the technical report supporting the updated, independent, Mineral Resource Estimate prepared in accordance with NI 43-101 for the company’s 100% owned Enchi Gold Project in Ghana.
The Resource was completed by BBA E&C Inc. (BBA) of Sudbury, Ontario, Canada. The technical report, titled “Mineral Resource Estimate for the Enchi Gold Project” has an effective date of January 25, 2023, is reported using a gold price of US$1,650 per ounce, and is available under the Company’s profile on SEDAR at www.sedar.com.
The results of the Resource were announced on March 7, 2023. The Resource:
- Successfully outlined an inaugural Indicated Mineral Resource of 743,500oz of gold at an average grade of 0.55 grams per tonne (“g/t Au”) and totalling 41,736,000t, de-risking project development;
- Defined an Inferred Mineral Resource of 972,000oz of gold at an average grade of 0.65g/t Au and totalling 46,556,000t;
- Established a high-grade underground resource for the first time of 135,900 gold ounces at an average grade of 2.42g/t Au, proof of concept that outlines the potential for longer-term resource growth from sulphide mineralization;
- Added a fifth deposit at Enchi, with an inaugural Inferred Mineral Resource at Tokosea of 46,900oz gold at 0.75g/t Au;
- Defined a higher-grade subset of the open pit Resource, using a 0.50 cut-off grade, consisting of an Indicated Mineral Resource of 493,700oz of gold at an average grade of 0.97g/t Au and an Inferred Mineral Resource of 580,900oz of gold at an average grade of 1.04g/t Au. This does not include the underground Inferred Mineral Resource of 135,900oz at an average grade of 2.42g/t Au;
- Does not include approximately 38,000m of drilling which focused on greenfield discoveries and high-grade sulphide mineralization at depth, highlighting the multi-million-ounce potential of the 216km2 district scale property; and
- Further supports and de-risks the strong economics outlined in the 2021 Preliminary Economic Assessment.
The mineral resources were estimated using a block model with parent blocks of 10m x 10m x 10m with sub-blocks to 2.5m x 2.5m x 2.5m. A capping study was made using histograms, probability plots, quantile plots and deciles plots to define the capping values resulting in variable capping values by deposit and zone.
For further information please visit: https://newcoregold.us
