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Newcore Gold - President and CEO, Luke Alexander - The Market Herald Canada
President and CEO, Luke Alexander
Source: Newcore Gold
  • More assays are continuing to roll in from Newcore Gold’s (NCAU) ongoing drill program at the Enchi Gold Project in Ghana
  • Recent drilling has intersected 1.38 grams per tonne gold over 45 metres from just 8 metres down
  • Towards the bottom of that notable assay, a higher-grade six-metre section was intersected at 6.25 grams per tonne gold
  • Nearby drilling at the same target also intersected three distinct multiple areas of mineralisation along a 120-metre hole
  • Newcore Gold is down 2.86 per cent and is trading at C$0.68 per share

More assays are continuing to roll in from Newcore Gold’s (NCAU) ongoing drill program at the Enchi Gold Project in Ghana.

Recent drilling has intersected 1.38 grams per tonne gold over 45.0 metres from just 8 metres down. Towards the bottom of that notable assay, a higher-grade six-metre section was intersected at 6.25 grams per tonne gold.

Nearby drilling at the same target also intersected multiple areas of mineralisation.  1.14 grams per gold over 9 metres, 0.94 grams per tonne of gold over 29.0 metres and 1.18 grams per tonne of gold over 10.0 metres, were all separately hit along a 120-metre deep hole.

The 58,000-metre drill program underway is the largest drill program ever planned on the Project, am is intended to accelerate the resource expansion.

These initial results, which surround the site’s Nyam target, are indicating shallow oxide and deeper sulphide gold mineralization, which is outside of the site’s currently defined mineral resource.

Luke Alexander, President & CEO of Newcore said the on-going drill program continues to delineate the potential for resource expansion.

Despite dipping slightly today, Newcore has staged an impressive rally this year on the, with the company’s TSXV-listed shares more than tripling in value since January.  

“We are delighted with these results as they highlight the resource growth potential at Nyam which currently has the least amount of drilling from the three resource areas on the Project. A second drill rig is now on site, with a third rig expected to arrive by the end of November, allowing us to ramp up the pace of drilling,” he added.

Newcore Gold is down 2.86 per cent and is trading at C$0.68 per share at 9:43am EST.


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