Newcore Gold has announced final drill results and the completion of a successful 90,000 metre drill program at the company’s 100% owned Enchi Gold Project in Ghana.
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.
*NEWS RELEASE* NewcoreGold completes 90,000 metre drill program, expanding the mineralized footprint at the Enchi #Gold Project in #Ghana. $NCAU.V $NCAUF #exploration #drilling Read the News Release 👇: https://t.co/IP6huismtL pic.twitter.com/KQrYZGBJQt
All deposits and targets are said to 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. 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. 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 of Newcore 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.
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.
Final Drill Results From the 90,000 Metre Drill Program and On-Going Exploration Final drill results from the 2020 – 2022 drill program included Reverse Circulation (“RC”) drilling targeting oxide mineralization within the southern extension of the Boin Gold Deposit, as well as diamond drilling (“DD”) targeting deeper mineralization at all resource areas. All holes intersected gold mineralization, with results including 1.16 grams pt 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.
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Greg Smith, VP Exploration of Newcore 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 sulphides 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.”
Additional exploration work is on-going, including metallurgical test work and trenching of high-priority surface anomalies in advance of a next phase drill program anticipated to commence in late Q3 2022. “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,” concluded Alexander.
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