Business
Newcore Gold Provides an Update on Work Programs and Exploration Activities Underway at the Enchi Gold Project, Ghana
VANCOUVER, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. ("Newcore" or the "Company") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to provide
About this update from Newcore Gold Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, Dec. 15, 2022 (GLOBE NEWSWIRE) -- Newcore Gold Ltd. (\"Newcore\" or the \"Company\") (TSX-V: NCAU, OTCQX: NCAUF) is pleased to provide an update on work programs and exploration activities underway at the Company’s 100% owned Enchi Gold Project (\"Enchi\" or the \"Project\") in Ghana. Current activities focused on de-risking and advancement of the Project include: Completion of an updated Mineral Resource Estimate to be released in January 2023; Diamond drilling underway at the Nyam Gold Deposit at Enchi, following up on high-grade results from prior drilling of the upper sulphide mineralization; Trenching on several kilometre-scale gold anomalies to continue to advance early-stage targets across the Project towards the drill testing stage; Continued metallurgical testwork, including testing of sulphide mineralization; Completion of an updated environmental and social baseline study in H1 2023. Highlights from Work Programs and Exploration Underway at Enchi Mineral Resource Update Underway with Completion in January 2023, incorporating results from a portion of the 90,000 metre drill program completed in mid-2022. From this drilling approximately 20,000 metres was included in the 2021 Mineral Resource Estimate; approximately 40,000 metres was focused on resource expansion and is anticipated to be included in the update; the remaining metres focused on earlier stage targets that highlight the future resource growth potential at Enchi and will be incorporated into future mineral resource updates. Completion of an updated Mineral Resource Estimate is scheduled for January 2023 as the Company’s resource consultant completes incorporation of all new drilling data and recently completed drone topographic surveys. It is anticipated that incorporating the recently completed drone survey will upgrade a portion of the Mineral Resource Estimate into the Indicated category, further de-risking the Project. Newcore is funded to complete the current work program at Enchi (commenced October 2022) with $5 million in cash and short-term investments at the end of Q3 2022. Drilling Underway Targeting High-Grade Potential at Enchi. Diamond drilling underway at the Nyam Gold Deposit is following-up on high-grade mineralization identified in the upper portions of the sulphide mineralization, continuing to define the poten...