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Newcore Gold Drilling Intersects 0.82 g/t Gold Over 103.0 Metres and 0.79 g/t Gold Over 53.0 Metres at the Enchi Gold Project, Ghana


Newcore Gold Drillin

iCrowdNewswire   Feb 17, 2021  1:44 PM ET

Newcore Gold Ltd. is pleased to announce additional drill results from the 58,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project (“Enchi” or the “Project”) in Ghana. Drilling has intersected 0.82 grams per tonne gold (“g/t Au”) over 103.0 metres (“m”) from 61 m at the Sewum Gold Deposit (“Sewum”), with these results continuing to expand the gold mineralization outside of the current resource. Newcore is also pleased to announce additional results from drilling at the Kwakyekrom Gold Target (“Kwakyekrom”), including 0.79 g/t Au over 53.0 m from surface. These latest results have extended the strike extent at Kwakyekrom to 650 metres, remaining open in both directions. Kwakyekrom is one of the most advanced exploration targets at Enchi with no currently defined gold resource.

Highlights

Luke Alexander, President & CEO of Newcore stated, “The 58,000 metre resource expansion and discovery drilling program that is underway at our Enchi Gold Project in Ghana continues to deliver strong results. Step-out drilling at Sewum has intersected mineralization outside of the resource pit shells, indicating strong potential for resource growth. Sewum is currently the largest contributor to our mineral resources at Enchi. We are also very excited with the results achieved from drilling at Kwakyekrom to date. Kwakyekrom is one of our most advanced exploration targets on the Project and sits outside of the defined resource. With approximately 35% of the drill results reported to date, we look forward to confirming the potential to grow the resource at Enchi by both proving out further resource potential at existing deposits and also defining further zones across the district scale property.”

Greg Smith, Vice President of Exploration of Newcore stated, “I am very pleased with the results received to date from our ongoing drill program at Enchi, the largest to be completed on the Project to date. The Sewum Gold Deposit has been an area of focus given the strong results from step-out drilling, with potential for resource growth highlighted by results from drilling the gap areas between existing resource pits. At Kwakyekrom, all holes intersected gold mineralization with the quality and consistency of mineralization indicating the potential for Kwakyekrom to host a gold resource.”

This news release reports results for 6 holes targeting the Sewum Gold Deposit and 9 holes targeting the Kwakyekrom Gold Target at Enchi. The 6 holes (1,194 m) drilled at Sewum continue to intersect wide-spread gold mineralization, extending the drill tested portion of the zone along strike and down dip. Holes drilled along strike intersected wide intervals of gold mineralization highlighted by SWRC093 with two zones; the first in the oxides returned 0.60 g/t Au over 17.0 m from 32 m to 49 m and a second of 0.82 g/t Au over 103.0 m from 61 m to 164 m. Additional holes drilled down dip of previous intercepts have returned higher grade intervals including hole SWRC094 with 1.26 g/t Au over 16.0 m from 115 m to 131 m and 2.35 g/t Au over 8.0 m from 175 m to 183 m.

The additional 9 holes (1,187 m) drilled at Kwakyekrom extended the gold zone along strike 100 metres to the north and 150 metres to the south, extending the strike extent at Kwakyekrom to 650 metres, remaining open in both directions. The drilling at Kwakyekrom intersected wide gold mineralized zones highlighted by the widest intercept to date at Kwakyekrom in hole KKRC041 which returned 0.79 g/t Au over 53.0 m from surface to 53 m. Additionally, the drilling has encountered multiple sub-parallel structures including in hole KKRC038 with two zones; the first 0.83 g/t Au over 12.0 m from 131 m to 143 m and a second of 1.44 g/t Au over 17.0 m from 153 m to 170 m. Additional drilling is planned at both Sewum and Kwakyekrom in 2021.

2020 – 2021 Enchi Drilling Program

A 58,000 metre discovery and resource expansion drilling program is underway at Enchi. The program includes both RC and diamond drilling and will include the first deep drilling planned on the Project. This drill program includes testing extensions of the existing resource areas while also testing a number of high priority 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 first pass 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.

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.

Kwakyekrom Gold Zone

The Kwakyekrom Gold Zone had seen limited past drilling and does not currently have a defined mineral resource. Kwakyekrom is one of the most advanced exploration targets being tested by Newcore as part of the 2020 – 2021 drill program, with 3,644 metres of drilling in 27 RC holes completed to date as part of the ongoing 58,000 metre drill program. Kwakyekrom 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. The Kwakyekrom structure is interpreted to be an extension of the Nyam structure and is located five kilometres south of Nyam. The zone is outlined on surface by a four-kilometre-long and one-to-two-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Kwakyekrom Gold Zone is a sharp break in the conductivity trend.

Drill Hole Locations

Table 2 – Enchi Gold Project Drill Hole Location Details

Hole ID UTM East UTM North Elevation Azimuth ° Dip ° Length (m)
SWRC093 521364 627948 102 120 -50 168
SWRC094 521225 627895 113 120 -50 254
SWRC095 521155 627863 119 120 -50 242
SWRC096 521165 627779 105 120 -50 200
SWRC097 521164 627439 106 120 -50 180
SWRC098 521375 628065 100 120 -50 150
KKRC035 528532 634631 125 298 -60 108
KKRC036 528625 634796 130 298 -60 114
KKRC037 528661 634846 126 298 -60 110
KKRC038 528738 634809 128 298 -60 200
KKRC039 528692 634909 129 298 -60 129
KKRC040 528741 634889 127 298 -60 162
KKRC041 528466 634474 104 298 -60 120
KKRC042 528440 634487 108 298 -60 100
KKRC043 528580 634606 123 298 -60 144


COVID-19 Protocols

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 ongoing 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 an 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.

Qualified Person

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 Ltd.

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.

Luke Alexander
President, CEO & Director

For further information, please contact:

Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
info@newcoregold.com
www.newcoregold.com



Contact Information:

Mal Karwowska | Vice President, Corporate Development and Investor Relations
+1 604 484 4399
info@newcoregold.com
www.newcoregold.com








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