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Drilling at Tokosea, a New Discovery at Enchi, Intersects Additional High-Grade, Wide Zones of Gold Mineralization from Surface, Expanding Mineralization Along Strike and Down Dip.

Vancouver, BC – Newcore Gold Ltd. (“Newcore” or the “Company”) (TSX-V: NCAU) is pleased to announce drill results from the 90,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project (“Enchi” or the “Project”) in Ghana.

First pass Reverse Circulation (“RC”) drilling at the Tokosea Gold Target (“Tokosea”), completed as part of the inaugural drill program on the grassroot target at Enchi, intersected multiple wide zones of gold mineralization from surface.

Drill results included 1.80 grams per tonne gold (“g/t Au”) over 27.0 metres (“m”) from 30 m, including 4.13 g/t Au over 3.0 m from 31 m, and 1.67 g/t Au over 17.0 m from 131 m, including 18.17 g/t Au over 1.0 m from 131 m.

Tokosea is a new greenfield discovery at Enchi where first pass drilling has highlighted the strong potential to delineate additional resources across the 216 km² land package at Enchi.

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Highlights from First Pass Drilling at Tokosea 

• Drilling at Tokosea has confirmed and expanded the new greenfield discovery, highlighting the strong potential to delineate additional gold resources at Enchi:
  • This drilling was completed as part of the first pass discovery drilling completed at Tokosea in 2022, with first results announced March 7, 2022.
  • Inaugural drilling tested mineralization to an average vertical depth of only 75 metres.
  • Tokosea is outlined on surface by a six-kilometre-long and two-to-three-kilometre-wide gold-in-soil anomaly. With only 56 holes drilled to date on the target, the strong results highlight the possibility of a new area for potential mineral resources at Enchi.

• Drilling at Tokosea has expanded the gold mineralization, intersecting multiple structures in the upper portion of the sulphides, including:
  • Hole TORC045 intersected multiple zones of mineralization throughout the drill hole. Near surface, the hole intersected 1.80 g/t Au over 27.0 m from 30 m, including 4.13 g/t Au over 3.0 m from 31 m, 3.41 g/t Au over 3.0 m from 38 m, and 3.76 g/t Au over 3.0 m from 47 m. A zone near the end of the hole intersected 0.93 g/t Au over 15.0 m from 134 m, including 3.22 g/t Au over 3.0 m from 140 m.
  • Hole TORC032 intersected 1.67 g/t Au over 17.0 m from 131 m, including 18.17 g/t Au over 1.0 m from 131 m and a second zone with 3.36 g/t Au over 5.0 m from 105 m.

• Drilling on a series of sub-parallel structures intersected shallow oxide mineralization:
  • Hole TORC048 intersected 0.40 g/t Au over 32.0 m from surface, including 2.10 g/t Au over 3.0 m from 27 m and a second zone with 0.74 g/t Au over 8.0 m from 87 m.
  • Hole TORC047 intersected 1.20 g/t Au over 10.0 m from surface, including 4.26 g/t Au over 2.0 m from 1 m and a second zone with 0.99 g/t Au over 4.0 m from 26 m.

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Newcore Gold management comments

 “These results are the continuation of the results we released last month, confirming and expanding one of three new discoveries at our Enchi Gold Project.

 

“These results and new discoveries confirm the potential for Enchi to host additional deposits. Drilling at Tokosea has successfully delineated high-grade, wide zones of mineralization near surface with drilling on the target having only tested mineralization to an average vertical depth of 75 metres.

 

“We have now defined mineralization across a strike length of four-kilometres, with only a small portion of this six-kilometre-long anomaly tested to date.

 

“Enchi’s 216 km² land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several large, multi-million-ounce gold deposits.

 

“We look forward to continuing our systematic approach to exploration and defining the potential of our district scale Enchi Gold Project through the drill bit.”

Luke Alexander, President and CEO of Newcore Gold

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This news release reports results for 30 RC holes totalling 3,889 m (TORC027 to TORC056) targeting the Tokosea Gold Target. 24 of the 30 holes intersected gold mineralization.

These results follow up on the initial 26 RC holes which made the discovery at Tokosea.

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Disclosure

At the time of writing the author holds shares in Newcore Gold, bought in the market at the prevailing price on the day of purchase.

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