Newcore Gold has announced the final drill results and completion of a successful 90,000 metre drill program at the Company’s 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.
The final 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.
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 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 of Newcore said:
“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.
Luke Alexander
Newcore Approach to Exploration Delivers on Objectives
Newcore Gold’s multi-pronged exploration approach delivered on the objectives set at the start. In line with these objectives, the company outlined near surface resource expansion potential along strike at all four of our existing deposits and achieved strong results from drilling at previously drilled areas.
In addition, the company said it 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.”
Luke Alexander
Final drill results from the 2020 to 2022 drill program included Reverse Circulation drilling targeting oxide mineralization within the southern extension of the Boin Gold Deposit, as well as diamond drilling targeting deeper mineralization at all resource areas.
All holes intersected gold mineralization, with results including 1.16 grams per tonne gold over 20.0 metres from 221 metres in the sulphides, including 4.92 g/t Au over 1.8 metres from 221 metres at Boin.
Additional exploration work is ongoing, including metallurgical testwork and trenching of high-priority surface anomalies in advance of a next phase drill program anticipated to commence in late Q3 2022.
Greg Smith, VP Exploration of Newcore said:
“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.”
Greg Smith
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