Newcore Gold Ltd. · TSXV:NCAU
Newcore Gold — Investor Webinar - 2023 Year in Review & 2024 Preview
22 slides from Newcore Gold's conference presentation, Dec 12, 2023
Slide 1: 2023 Year in Review & 2024 Preview
Luke Alexander Greg Smith Mal Karwowska President & CEO VP Exploration VP Corporate Development & IR [i 2023 YEARINREVIEW & 2024 PREVIEW : TSX-V: NCAU | OTCQX: NCAUF (®) NEWCORE newcoregold.com
Slide 2: In the Business of Gold
IN THE BUSINESS OF GOLD TSX-V: NCAU OTCQX: NCAUF 2023 YEAR IN REVIEW & 2024 PREVIEW DECEMBER 12, 2023
Slide 3: Forward Looking Statements
| FORWARD LOOKING STATEMENTS This presentation is provided for informational purposes only and the opinions expressed are based upon Newcore Gold strategy as identified in the “Risks Factors” section of Newcore’s Annual Information Form filed on April 28, 2023 and Ltd.’s (“Newcore” or the “Company”)
Slide 4: Newcore - Advancing the Enchi Gold Project in Ghana
| NEWCORE - ADVANCING THE ENCHI GOLD PROJECT IN GHANA PROVEN TEAM | 20% Equity Ownership Top-tier leadership with a successful track record in the industry, strong institutional investor support GOLD ASSET | Resource Underpinned with PEA Advancing the 100%-owned Enchi Gold Project in Ghana, located
Slide 5: Newcore - Significant Achievements in 2023
| NEWCORE - SIGNIFICANT ACHIEVEMENTS IN 2023 ✓ Updated Mineral Resource Estimate De-Risks Project Development • • Increased overall resource - inaugural Indicated resource, added an additional deposit area, defined higher-grade at depth ✓ Completed a $5 million equity private placement • • Increased
Slide 6: Newcore - Corporate Snapshot
| NEWCORE - CORPORATE SNAPSHOT Share Structure and Market Valuation Share Ownership Basic Shares Outstanding 171.7M Institutions Warrants Outstanding 16.7M (exercise price of $0.20, expire June 28, 2024) Management & Board Retail & Other Options Outstanding 11.3M 35% RSUs/PSUs Outstanding 2.4M 45% F
Slide 7: Updated Mineral Resource Estimate
UPDATED MINERAL RESOURCE ESTIMATE Resource Growth Continues to De-Risk Project Development TSX-V: NCAU | OTCQX: NCAUF | 6
Slide 8: 2023 Mineral Resource Estimate Summary
| 2023 MINERAL RESOURCE ESTIMATE SUMMARY • Mineral Resource Estimate (US$1,650/oz gold price): Indicated Mineral Resource Estimate Deposit Tonnes Grade (g/t Au) Contained Au (oz) • Outlined an inaugural Indicated resource, Sewum 20,925,000 0.48 323,300 de-risking project development Boin 13,020,000
Slide 9: Mineral Resource Estimate Cut-Off Grade Sensitivity
| MINERAL RESOURCE ESTIMATE CUT-OFF GRADE SENSITIVITY • The pit constrained, open pit, Mineral Resource Pit Constrained Indicated Mineral Resource Estimate Estimate for Enchi was evaluated at a range of Cut-Off Grade Tonnes Grade (g/t Au) Contained Au (oz) cut-off grades 0.1 47,702,000 0.50 768,200
Slide 10: Mineral Resource Estimate by Mineralization Type
| MINERAL RESOURCE ESTIMATE BY MINERALIZATION TYPE • Majority of current resource is hosted within oxide Indicated Mineral Resource Estimate by Mineralisation Type and transition material Deposit Tonnes Grade (g/t Au) Contained Au (oz) Oxide 14,365,000 0.52 241,000 • Weathering profile varies by are
Slide 11: High-Grade Underground Resource - Proof of Concept
| HIGH-GRADE UNDERGROUND RESOURCE - PROOF OF CONCEPT • Established the first underground resources at Enchi Indicated Mineral Resource Estimate by Deposit and Mining Method • Potential to define meaningful resource growth Deposit Type Tonnes Grade (g/t Au) Contained Au (oz) Sewum Open Pit 20,925,000
Slide 12: Drill Results
DRILL RESULTS Intersected High-Grade Mineralization in the Sulphides TSX-V: NCAU | OTCQX: NCAUF | 11
Slide 13: Depth Potential - Chirano Comparable
| DEPTH POTENTIAL - CHIRANO COMPARABLE • Asante’s multi-million-ounce Chirano Gold Mine (formerly owned by Kinross) (+5 Mozs gold endowment), located ~50km northeast of Enchi, hosts plunging zones of high-grade gold mineralization with gold zones similar to Enchi • Both properties exhibit numerous d
Slide 14: Depth Potential - Deeper Drilling at Nyam
| DEPTH POTENTIAL - DEEPER DRILLING AT NYAM • Some of the deepest intersections of mineralization drilled to date at Enchi have been at Nyam • Drilling has defined two steeply plunging higher-grade zones, remain open for expansion to depth • Diamond drilling in 2023 targeted high-grade mineralizatio
Slide 15: Metallurgical Testwork
METALLURGICAL TESTWORK Strong Results Highlight Enchi’s Amenability to Heap Leach Processing TSX-V: NCAU | OTCQX: NCAUF | 14
Slide 16: Metallurgical Testwork - Summary
| METALLURGICAL TESTWORK - SUMMARY • Metallurgical testwork completed to date indicates excellent recoveries • Projected overall recoveries estimated at 90-95%, with more than 360 tests completed and additional tests underway • Amenability to heap leach processing for oxide and transition material •
Slide 17: Metallurgical Testwork - Bulk-Scale Pilot Heap Tests
| METALLURGICAL TESTWORK - BULK-SCALE PILOT HEAP TESTS • Two bulk-scale pilot heap tests completed • 15-tonne composite samples of oxide mineralization from each of Sewum and Boin leached for 60-days • Average gold recovery of 91.9% achieved • Sewum average gold recovery of 93.5%, head assay grade o
Slide 18: Near-Term Catalysts
NEAR-TERM CATALYSTS Updated PEA Underway - Results H1 2024 TSX-V: NCAU | OTCQX: NCAUF | 17
Slide 19: 2021 PEA Summary - Strong Economics to Build On
| 2021 PEA SUMMARY - STRONG ECONOMICS TO BUILD ON • Simple, open pit, heap leach operation 140,000 121,387 $320 • Processing 6.6 mtpa, contract mining 120,000 $260 Gold Production (ounces) 104,638 104,034 104,286 103,728 Cash Flow (US$M) 100,000 $200 • Low LOM strip ratio of 2.1 to 1 87,639 83,384 A
Slide 20: Near-Term Catalysts - Updated PEA in H1 2024
| NEAR-TERM CATALYSTS - UPDATED PEA IN H1 2024 PEA UPDATE underway with results anticipated in H1 2024, incorporating the 2023 Mineral Resource Estimate METALLURGICAL TESTWORK ongoing to continue to de-risk technical merits of the Project ENVIRONMENTAL & SOCIAL BASELINE STUDY being updated, de-riski
Slide 21: Contact Information
IN THE LEARN MORE ABOUT THE NEWCORE OPPORTUNITY BUSINESS OF GOLD CONTACT INFORMATION Mal Karwowska, VP, Corporate Development & IR TSX-V: NCAU Office: +1 (604) - 484 - 4399 Email: info@newcoregold.com OTCQX: NCAUF www.newcoregold.com
Slide 22: Enchi Gold Project Technical Disclosure
| ENCHI GOLD PROJECT TECHNICAL DISCLOSURE 2023 Mineral Resource Estimate 2021 Preliminary Economic Assessment (“PEA”) 1. Canadian Institute of Mining Metallurgy and Petroleum ("CIM") definition standards were followed for the 1. The PEA is based upon the Company’s 2021 Mineral Resource Estimate for
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