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 1.52 grams per tonne gold (“g/t Au”) over 28.0 metres (“m”) from surface, including 3.58 g/t Au over 10.0 m, with drilling successfully intersecting shallow oxide and deeper sulphide gold mineralization at the Sewum Gold Deposit (“Sewum”) at Enchi.
Luke Alexander, President & CEO of Newcore stated, “We are very pleased with this first set of drill results from Sewum, one of the gold deposits at Enchi that currently hosts a significant portion of our Inferred Mineral Resource. These results highlight the potential extension of shallow, oxide gold mineralization along strike of the currently defined resource area at Sewum and the potential for increasing gold grades at depth in sulphide zones. With our significantly expanded 58,000 metre drill program ramping up, and additional drill rigs being added over the next several months, I look forward to accelerating resource growth at Enchi while also testing high priority gold targets across the 216km2 property to prove out the multi-million ounce potential of the Project.”
Greg Smith, Vice President of Exploration of Newcore stated, “The 2020 RC drill holes at Sewum continue to expand the gold mineralization along strike and down dip, focused on step-out drilling from the existing Inferred mineral resource area. Additional drilling is planned following-up on these initial positive results, as well as a series of holes directed at previously undrilled portions of the geochemical and geophysical anomalies at Sewum.”
The 10 holes highlighted in this news release targeted the Sewum Gold Deposit. The highlighted drill intercepts include gold bearing intervals within the upper portions of the unoxidized primary gold mineralization as well as near surface oxide mineralization. The oxidized gold mineralized zone intersected in drill hole SWRC073 (28 m grading 1.52 g/t Au from surface to 28 m, including 10 m grading 3.58 g/t Au from 15 m to 25 m) is in the southern portion of the Sewum Deposit and remains open at depth. Drill hole SWRC076 located in the central portion of the Sewum Zone, and on the edge of the current resource, intersected an upper oxidized zone with 49 m grading 0.91 g/t Au and a lower sulphide zone with 16 m grading 3.04 g/t Au which was mineralized to the end of the hole.
2020 Enchi Drilling Program
As highlighted in Newcore’s news release on November 5, 2020, a 58,000 metre discovery and resource expansion drilling program is underway at Enchi. The program includes both Reverse Circulation (“RC”) and diamond drilling and will include the first deep drilling planned on the Project. This drill program is 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 focused on step out extensions and exploration drilling at the Boin, Sewum, and Nyam Deposits. Additional drilling is planned at previously drilled zones that are outside of the resource area (Kojina Hill, Kwakyekrom and Eradi), along with maiden drilling to test a series of kilometre-scale gold-in-soil anomalous zones with no prior drilling (Nkwanta, Sewum South and other anomalies). All zones represent high priority targets based on geological, geochemical and geophysical surface work and previous trenching and drilling.
Newcore anticipates gradually ramping up the scale of drilling on the property, with one drill rig on-site currently, a second drill rig to be mobilized to site this month and additional rigs to be added in the next several months.
Sewum Gold Zone
The Sewum Gold Deposit is one of the primary deposits currently included in the NI 43-101 Inferred Mineral Resource Estimate at Enchi. Sewum is located 20 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Sewum is outlined on surface by a six-kilometre-long and one to two-kilometre wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Sewum Deposit defines a series of sub parallel structures.
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.
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.
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 32% equity 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