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Newcore Gold Ltd. - President & CEO, Luke Alexander - The Market Herald Canada
President & CEO, Luke Alexander
Source: Newcore Gold
  • Newcore Gold (NCAU) has reported a number of significant intercepts from an ongoing drill program at its wholly owned Enchi Project in Ghana
  • The drilling work has been focused primarily on the Boin deposit, which sits outside of the currently defined mineral resource
  • A total of 13 new results have been released, including 0.73 grams per tonne of gold over 62 metres
  • So far, 5,644 metres have been drilled over the course of the program across 36 holes, with results received for 26 of these
  • Newcore Gold (NCAU) is currently down 7.14 per cent to C$0.78 per share at 1:27pm EDT

Newcore Gold (NCAU) has reported a number of significant intercepts from an ongoing drill program at its wholly owned Enchi Project in Ghana.

The project currently hosts an inferred mineral resource of 1.2 million ounces at an average grade of 0.72 grams per tonne of gold. It covers 216 square kilometres and encompasses roughly 40 kilometres of Ghana's prolific Bibiani Shear Zone, which is home to Kinross Gold's Chirano mine as well as several other five-million-ounce deposits.

Launched in mid-August, the 8,000-metre program has been designed to target possible extensions of the Boin, Sewum and Nyam deposits, which currently sit outside of the defined mineral resource.

A total of 13 new intercepts have been released today, primarily from the Boin target where drilling successfully intercepted the upper portion of sulphide mineralisation, which lies beneath a shallow oxide gold zone.

These results include 62 metres at 0.73 grams per tonne of gold from hole KBRC159, part of which was a seven-metre length at a grade of 3.18 grams per tonne of gold.

This follows an earlier batch of results announced on September 28, 2020, where Newcore intersected 1.67 grams per tonne of gold over 47 metres, including 3.63 grams per tonne over 10 metres.

Luke Alexander, President and CEO of Newcore, said the latest results continue to define the potential for resource expansion from near surface oxide mineralisation at the Boin 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-square-kilometre property," he added.

So far, a total of 5,644 metres have been drilled across 36 holes, 26 of which have already returned results.

Newcore Gold (NCAU) is currently down 7.14 per cent to C$0.78 per share at 1:27pm EDT.


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