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Pinecrest Drilling Expands Shallow Zones of Oxide Gold Mineralization at 100% Owned Enchi Gold Project, Ghana
VANCOUVER, British Columbia, March 21, 2018 (GLOBE NEWSWIRE) -- Pinecrest Resources Ltd. (TSX-V:PCR) (the “Company” or “Pinecrest”) is pleased to announce drill
About this update from Newcore Gold Ltd.
[{"type":"text","content":" VANCOUVER, British Columbia, March 21, 2018 (GLOBE NEWSWIRE) -- Pinecrest Resources Ltd. (TSX-V:PCR) (the “Company” or “Pinecrest”) is pleased to announce drill results from its 3,400 metre Reverse Circulation (“RC”) drill program on the 100% owned Enchi Gold Project (“Enchi or the Project”), located in Southwest Ghana, a region well-known for prolific gold resources and production. The Enchi Gold Project currently hosts a +1 million ounce inferred gold resource (37.36 Mt grading 0.9 g/t gold) with a positive Preliminary Economic Assessment (“PEA”) study completed demonstrating a Pre-tax NPV 5%: US$102 million using US$1,300/oz gold and Post-tax NPV 5%: US$62 million using US$1,300/oz gold, (see news release dated May 24, 2017 for full details). The district hosts numerous historical and current operating open pit and underground gold mines located along strike to the northeast of the Project including the Chirano Gold Mine owned and operated by Kinross Gold Corporation. Highlight Drill Results including several drill holes successfully intersecting gold mineralization outside of the currently defined NI 43-101 Inferred Resource Highlights Sewum Gold Zone Highlight drill holes include; SWRC060 intersected 31.0 m grading 0.94 g/t gold including 20.0 m grading 1.27 g/t gold, SWRC062 intersected 35.0 m grading 0.50 g/t gold and, SWRC064 intersected 38.0 m grading 1.12 g/t gold. All of these intercepts are oxidized mineralization expanding previously defined zones of gold mineralization. Kojina Hill Gold Target The Kojina Hill Gold Target (“Kojina”) is a new gold zone located outside of the current NI 43-101 inferred resource on the Enchi Gold Project. KJRC010 intersected 9.0 m grading 1.99 g/t gold from surface and a second zone of 29.0 m grading 0.87 g/t gold confirming continuity of the mineralized gold zone at depth. Boin Gold Zone Drilling at the Boin Gold Zone (“Boin”) successfully intersected mineralization outside of the defined NI 43-101 Inferred resource areas. KBRC137, one of the deepest holes ever drilled at Boin, intersected 35.0 m grading 1.15 g/t gold including; 19.0 m grading 1.67 g/t gold, opening a new expanded zone of mineralization to the northeast, potentially open along strike. KBRC128 intersected 10.0 m grading 1.46 g/t gold with the drill hole endi...