Newcore Gold Ltd. is pleased to announce additional results from the drill program underway on the Company’s 100% owned Enchi Gold Project (“Enchi” or the “Project”) in Ghana. Drilling has intersected 0.73 grams per tonne gold (“g/t Au”) over 62.0 metres (“m”), including 3.18 g/t Au over 7.0 m, with drilling successfully intersecting the upper portion of the sulphide mineralization below the shallow oxide gold mineralization at the Boin Gold Deposit (“Boin”) at Enchi.
Luke Alexander, President & CEO of Newcore stated, “We are very pleased with the on-going results from the drill program underway at our Enchi Gold Project in Ghana. This next set of results continues to define the potential for resource expansion from near surface oxide mineralisation at Boin, while also providing a better geological understanding of the deposit. This drilling included the deepest and longest interval drilled to date at Boin, with a vertical depth of only 175 metres, providing important geological information to guide future diamond drilling to test the potential for resource expansion at depth. As we continue to advance the drill program, testing areas with known resources as well as high-priority targets yet to be drill tested, we look forward to proving out the district scale potential that exists across the 216 km2 property.”
The 13 holes highlighted in this news release targeted the Boin Gold Deposit stepping out along strike and down dip from previous positive drill results. The highlighted drill intercepts include gold bearing intervals within the upper portions of the unoxidized primary gold mineralization, consisting of altered and variably quartz veined volcanoclastics. The gold mineralized zone intersected in drill hole KBRC159 (62 m grading 0.73 g/t Au from 178 m to 240 m, including 7 m grading 3.18 g/t Au from 199 m to 206 m) is the deepest and the longest interval to date at Boin and remains open to depth. This hole reached a vertical depth of 175 metres, with all drilling completed to date at Boin testing an average depth of 50 metres.
To date a total of 5,644 metres in 36 holes has been completed as part of the current drill program, with results received for 26 holes representing 4,269 metres (13 holes totalling 2,693 metres reported in this news release in addition to 13 holes representing 1,576 metres which were previously released on September 28, 2020).
2020 Enchi Drilling Program
As highlighted in Newcore’s news release on August 12, 2020, an 8,000 metre RC drilling program is underway at Enchi. The 2020 drilling program includes approximately 60 RC drill holes testing six gold targets on the Project, focused on testing extensions of the existing resource areas while also testing a number of exploration targets outside of the Inferred Mineral Resource. Drilling is predominantly focused on step out extensions and exploration drilling at the Boin, Sewum, and Nyam Deposits. Additional drilling is planned at two zones identified outside of the resource area, Kojina Hill and Kwayehkrom, along with maiden drilling on the Nkwanta gold anomaly which has yet to be drill tested. All zones represent high priority targets based on geological, geochemical and geophysical surface work and previous trenching and drilling.
Boin Gold Zone
The Boin Gold Deposit is one of the primary deposits currently included in the NI 43-101 Inferred Mineral Resource Estimate at Enchi. Boin is located 15 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Boin is outlined on surface by a five-kilometre-long and half-kilometre by one-kilometre wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Boin structure extends for a further two kilometres north and five kilometres south beyond the limits of current drilling.
Newcore’s first priority is the health and safety of all employees, contractors, and local communities. The Company is following all Ghana guidelines and requirements related to COVID-19. The Company has implemented COVID-19 protocols for its on-going drill program consisting of the mandatory use of personal protective equipment (including facemask for all employees), maintaining social distancing, frequent hand washing, and daily temperature checks at the start of each shift.
Newcore Gold Best Practice
Newcore is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by independent drilling firm using industry standard RC and Diamond Drill equipment. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana for 50 gram gold fire assay.
Mr. Gregory Smith, P.Geo, Vice President of Exploration of Newcore, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein and has conducted appropriate verification on the underlying data including confirmation of the drillhole data files against the original drillhole logs and assay certificates.
About Newcore Gold Corp.
Newcore Gold is advancing its Enchi Gold project located in Ghana, Africa’s largest gold producer 1. The Project currently hosts an Inferred Mineral Resource of 1.2 million ounces of gold at 0.72 g/t 2. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 39% ownership, and prime district scale exploration opportunities. Enchi’s 216 km2 land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several 5 million-ounce gold deposits, including Kinross’ Chirano mine 50 kilometers to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.
On Behalf of the Board of Directors of Newcore Gold Ltd.
President, CEO & Director
For further information, please contact:
Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399