Newcore Gold Ltd. (TSXV: NCAU) has commenced a 5,000 metre discovery and resource expansion drill programme at the company’s 100% owned Enchi Gold Project in Ghana.
Approximately 5,000 metres of drilling is planned and will include both diamond and Reverse Circulation (RC) drilling. Diamond drilling will focus on continuing to define the higher-grade sulphide mineralisation at depth with a goal of delineating the potential for high-grade underground resources at Enchi.
RC drilling will target near-surface oxide and shallow sulphide mineralization with a goal of outlining additional resource growth along strike and depth at all deposit areas. RC drilling will also be planned to follow-up on discoveries made as part of the recently completed 90,000 metre drill programme. Additional exploration work is also on-going, including metallurgical testwork and trenching of high-priority surface anomalies.
Highlights
- Newcore is fully funded to complete the drill programme at Enchi post closing of a $5 million brokered equity financing on July 12, 2022.
- High-grade potential at depth. Limited deeper drilling has now defined high-grade sulphide mineralisation to a vertical depth of 300 metres. Follow-up drilling is planned to continue to define the potential for additional high-grade underground mineralisation.
- Resource expansion potential. Drilling will focus on further resource expansion at all existing deposits, all of which remain open along strike and at depth. Additional resource growth is anticipated from follow-up drilling on earlier stage targets across the property.
- District scale potential. Enchi is located along a prolific gold belt in Ghana which hosts several large scale multi-million-ounce gold mines. At Enchi, 25 targets have been identified across the 216 sq. km property, of which only nine have been drill tested to date.
“We are excited to continue to define the multi-million-ounce potential of our Enchi Gold Project through the drill bit,”Luke Alexander, President and CEO of Newcore said.
“This next phase of drilling will continue to focus on a multi-pronged exploration approach, with drilling targeting resource expansion at existing deposits, continuing to identify the higher-grade potential at depth, while also defining the broader potential for Enchi to host a long-life gold camp through drilling of earlier stage targets. We look forward to continuing to unlock the large-scale potential at Enchi.”
This next phase drill program will follow-up on the accomplishments achieved with the recently completed 90,000m drill programme that was successful in highlighting the district scale potential across the 216 sq. km property and the strong potential to delineate additional resources at Enchi.
The 2020 – 2022 drill programme delivered on its goals:
| (i) | Successfully outlined the potential resource growth along strike at all four deposits (Sewum, Boin, Nyam, Kwakyekrom); |
| (ii) | Encountered strong results at previously drilled zones outside of the resource area (Kojina Hill, Eradi); |
| (iii) | Intersected high-grade gold at depth, outlining the potential to delineate underground resources; and |
| (iv) | Identified new discoveries from successful first pass drilling on early-stage targets (Sewum South, Tokosea, Sewum Ext. Parallel Structure). |
Results from the 90,000 metre drill programme will be incorporated into an updated Mineral Resource Estimate expected to be completed by the end of 2022. For further information please visit: https://newcoregold.com/
