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Pinecrest Resources Announces Drill Program at 100% Owned Enchi Gold Project, Ghana
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 24, 2017) - Pinecrest Resources Ltd. (TSX VENTURE:PCR) (the "Company" or "Pinecrest") is pleased to announce a 3
About this update from Newcore Gold Ltd.
[{"type":"text","content":"VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 24, 2017) - Pinecrest Resources Ltd. (TSX VENTURE:PCR) (the \"Company\" or \"Pinecrest\") is pleased to announce a 3,000 metre Reverse Circulation (\"RC\") drill program planned to commence during Q3, 2017 on the 100% owned Enchi Gold Project (\"Enchi or the Project\"), located in Southwest Ghana, a region well-known for prolific gold production. The region hosts numerous historical and current operating open pit and underground gold mines located along strike to the northeast of the Project. All figures are in United States dollars, unless otherwise stated. Highlights Pinecrest to initiate RC drilling program on shallow extensions of the existing, one million ounce, heap leach, Inferred gold resource (37.36 Mt @ 0.9 g/t) at Enchi Planned work program includes 3,000 meters in 27 RC drill holes Past work at Enchi has included extensive RC and diamond drilling (52,385 m in 646 holes), resource estimation and a Preliminary Economic Assessment (\"PEA\") study (Pre-Tax NPV 5%: $102 million using $1,300/oz gold) The Enchi gold deposit remains open for further resource expansion along strike and to depth. Numerous, additional high priority gold targets exist on the 568 km2 property Ryan King, President of Pinecrest, commented: \"Pinecrest is pleased to be advancing the Company's logistically sound Enchi Gold Project. The Enchi gold deposit covers 40 km of the prolific Bibiani Shear Zone that host the Chirano gold mine operated by Kinross Gold Corporation located 70 km northwest of the Project. The Enchi deposit is open along strike and to depth with the 2017 drill program focussed on testing potential deposit extensions and high priority targets generated by previous exploration and drilling.\" The Enchi Gold Project is road accessible, is on the Ghanaian power grid and is situated along the eastern margin of the Sefwi gold belt that hosts multi-million ounce producing mines such as the Chirano Gold Mine and past producing Bibiani Gold Mine. Enchi includes six prospecting licenses within a total 568km2 land package. Previous work carried out on the project has included: RC and diamond drilling (52,385 m), airborne surveys, soil samples and trenching from numerous targets which resulted in an Inferred Resource Estimates and a Preliminary Economic Assessment conducted on three main gold zon...