Newcore Gold (TSX.V: NCAU)
Announced the start of a 5,000 metre discovery and resource expansion drill program 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 drilling.
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| Newcore Gold | TSX.V: NCAU |
| Stage | Exploration |
| Metals | Gold |
| Market cap | C$33.5 m @ 22.5 c |
| Location | Ghana, West Africa |
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Newcore Gold Enchi Project comparison with Kinross’ Chirano mine in the same gold belt in Ghana.
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Newcore Gold Announces Start of Drill Program at the Enchi Gold Project, Ghana
Vancouver, BC – Newcore Gold Ltd. (TSX.V: NCAU, OTCQX: NCAUF) (“Newcore” or the “Company”)is pleased to announce the start of a 5,000 metre discovery and resource expansion drill program at the Company’s 100% owned Enchi Gold Project (“Enchi” or the “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 mineralization 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 program. Additional exploration work is also on-going, including metallurgical testwork and trenching of high-priority surface anomalies.
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Highlights
- Newcore is fully funded to complete the drill program 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 mineralization to a vertical depth of 300 metres. Follow-up drilling is planned to continue to define the potential for additional high-grade underground mineralization.
- 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 km2 property, of which only 9 have been drill tested to date.
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Luke Alexander, President and CEO of Newcore stated;
“We are excited to continue to define the multi-million-ounce potential of our Enchi Gold Project through the drill bit.
“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.”
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.This next phase drill program will follow-up on the accomplishments achieved with the recently completed 90,000 metre drill program that was successful in highlighting the district scale potential across the 216 km2 property and the strong potential to delineate additional resources at Enchi.
To read the full news release, please click HERE
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.If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com
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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 days of purchase.
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