- Newcore Gold (NCAU) has added another 50,000 metres of planned drilling to an ongoing exploration program at its Enchi Gold Project in Ghana
- The company is currently engaged in an 8,000-metre drill program focused on testing extensions of the current resource
- This additional work will include both reverse circulation and diamond drilling, as well as the first deep drill hole at the project
- Results from the initial 8,0000-metre phase will be used to guide the 50,000-metre phase, which will continue into next year
- Newcore Gold (NCAU) is currently up 5.41 per cent and is trading at C$0.78 per share
Newcore Gold (NCAU) has added another 50,000 metres of planned drilling to an ongoing exploration program at its Enchi Gold 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.
Newcore is currently engaged in an 8,000-metre program that was launched on August 12, which is focused on testing extensions of the current resource area.
The proposed additional work will include both reverse circulation and diamond drilling, as well as the first deep drill holes to be completed at the Enchi Project.
There are currently 25 high-priority targets that have been identified at the project, with only six drill tested to date.
Luke Alexander, President and CEO of Newcore Gold, said the accelerated drilling will prove out the district scale potential of the project.
“Proceeds from our recent equity funding have allowed us to accelerate development of Enchi by expanding and accelerating the drill program on the property, with a substantial addition of 50,000 metres to the originally planned 8,000 metres.
“The expanded program will position Newcore to accelerate resource growth at the existing deposits, where approximately 90 per cent of the prior drilling was completed, while also proving out the potential of the numerous identified targets,” he added.
The results from the initial 8,000-metre phase will be used to guide the extended 50,000-metre phase, which is expected to continue into next year.
Newcore Gold (NCAU) is currently up 5.41 per cent to C$0.78 per share at 12:03pm EST.
