Newcore Gold (TSX.V: NCAU)
Announced two new gold discoveries from the 90,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project in Ghana.
First pass RC drilling on two grassroots targets, Tokosea and Sewum South, intersected shallow oxide gold mineralization. […]
|Newcore Gold||TSX.V: NCAU|
|Market cap||C$66 m @ 55 c|
|Location||Ghana, West Africa|
Newcore Gold Makes Two New Greenfield Discoveries at its Enchi Gold Project, Ghana
Newcore Gold Drilling Intersects 3.52 g/t Gold over 9.0 Metres, including 7.36 g/t Gold over 4.0 Metres at the Tokosea Gold Target
Vancouver, BC – Newcore Gold Ltd. (“Newcore” or the “Company”)(TSX-V: NCAU, OTCQX: NCAUF) is pleased to announce two new gold discoveries 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 on two grassroots targets, Tokosea and Sewum South, intersected shallow oxide gold mineralization demonstrating the strong potential to delineate additional resource areas across the 216 km2property.
Drilling at Tokosea (located on the central portion of Enchi) intersected shallow high-grade oxide gold mineralization grading 3.52 grams per tonne gold (“g/t Au”) over 9.0 metres (“m”) from 74 m, including 7.36 g/t Au over 4.0 m from 77 m.
Drilling at Sewum South (located at the southern end of Enchi, one of the largest previously undrilled targets identified on the Project) intersected 0.95 g/t Au over 15.0 m from 25 m, including 2.31 g/t Au over 5.0 m from 25 m.
Highlights from First Pass Drilling at Tokosea and Sewum South
- Both Tokosea (central portion of Enchi) and Sewum South (southern end of Enchi) are previously undrilled gold targets with very large anomalous areas identified
- First pass discovery drilling at Sewum South and Tokosea tested gold mineralization to an average depth of only 75 metres.
- The Tokosea and Sewum South gold targets are each outlined on surface by a six-kilometre-long and two-to-three-kilometre-wide gold-in-soil anomaly.
- Awaiting assays from an additional 30 RC drill holes completed at Tokosea.
- Drilling at Tokosea intersected near surface oxidized gold mineralization, including:
- Hole TORC025 intersected two mineralized zones, 3.52 g/t Au over 9.0 m from 74 m, including 7.36 g/t Au over 4.0 m from 77 m in the lower zone, and 1.15 g/t Au over 3.0 m from 3 m in the upper zone.
- Hole TORC012 intersected 0.51 g/t Au over 27.0 m from 4 m, including 1.92 g/t Au over 5.0 m from 23 m.
- Drilling at Tokosea also intersected gold mineralization to depth, into the upper portion of the sulphide mineralization, with results including:
- Hole TORC012 intersected a second structure in the sulphides with 1.73 g/t Au over 6.0 m from 125 m, including 4.35 g/t Au over 2.0 m from 125 m.
- Hole TORC020 intersected 0.90 g/t Au over 12.0 m from 74 m, including 4.55 g/t Au over 2.0 m from 76 m.
- Drilling at Sewum South intersected multiple gold mineralized zones, including higher grade core structures:
- Hole SWRC130 intersected 0.95 g/t Au over 15.0 m from 25 m, including 2.31 g/t Au over 5.0 m from 25 m and a second zone of 1.50 g/t Au over 4.0 m from 14 m.
- Hole SWRC121 intersected 0.53 g/t Au over 24.0 m from 54 m, including higher-grade structures of 1.09 g/t Au over 3.0 m from 54 m and 1.61 g/t Au over 2.0 m from 69 m.
Newcore Gold management comments
“We are thrilled with the success of inaugural drilling on some of the largest gold anomalies we have identified at Enchi.
“Both drilling at Tokosea and Sewum South, two prospective early-stage targets on the property, have identified several new areas of gold mineralization with strong results in both near surface oxide and sulphide mineralization.
“This first pass drilling tested gold mineralization to an average vertical depth of only 75 metres and identified a number of mineralized zones with higher-grade core structures with further potential from follow-on drilling along strike and at depth.
“We have only just scratched the surface of the gold potential at Enchi. The 90,000 metre drill program underway continues to prove out the significant multi-million ounce potential across this district scale property.”
Greg Smith, VP Exploration, Newcore Gold
“These two new discoveries along with recent results from a parallel structure at Sewum extension accomplish our stated goal of making new greenfield discoveries as part of our multi-pronged exploration approach.
“These new discoveries complement prior drill results which outlined near surface resource expansion potential along strike at all four of our existing deposits, strong results from drilling at three previously drilled areas, and high-grade intercepts at depth which have outlined the potential for underground resources.
“These new discoveries are a real testament to our geological team’s understanding of the structures at our Enchi Gold Project. We will continue to systematically approach the exploration across the Project with the goal of creating value for all our stakeholders.”
Luke Alexander, President and CEO of Newcore Gold
This news release reports results for 55 holes totalling 5,698 m, including 26 RC holes totalling 2,848 m (TORC001 to TORC026) targeting the Tokosea Gold Target and 29 RC holes totalling 3,120 m (SWRC114 to SWRC142) targeting the Sewum South Gold Target. 49 of the 55 holes intersected gold mineralization. Both Tokosea and Sewum South are targets at Enchi with no prior drilling.
For brevity, this summary has been abridged, to read the full news release, please click HERE
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