Newcore Gold Ltd. (TSX-V: NCAU) (OTCQX: NCAUF) is pleased to announce additional drill results from the 66,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project in Ghana. Drilling at the Kwakyekrom Gold Target has intersected 0.61 grams per tonne gold over 50.0 metres from 148 m, including 1.36 g/t Au over 9.0 m from 164 m, and 1.19 g/t Au over 20.0 m from 112 m, including 2.75 g/t Au over 5.0 m from 113 m. These results continue to expand the gold mineralization outside of the previously tested area, including down dip and along strike to the south by 500 metres. These results have now expanded the drill tested strike extent to 1.3 kilometres at Kwakyekrom, a target which is outlined on surface by a four-kilometre-long by one-to-two-kilometre-wide gold-in-soil anomaly. Newcore is also pleased to announce positive metallurgical results from bottle roll tests completed on the Kwakyekrom Gold Target, with samples achieving an average gold recovery of 79.8%. Kwakyekrom is one of the most advanced exploration targets at Enchi with no currently defined gold resource.
Greg Smith, Vice President of Exploration of Newcore stated, “Drilling at Kwakyekrom continues to define and grow the potential extent of gold mineralization, both along strike and down dip. With these results including the deepest intercepts to date on the central portion of the target, we have now crossed the main gold-bearing structure at a vertical depth of approximately 150 metres below surface. In addition, we continue to extend the known mineralization along strike with this set of drill results encountering mineralization 500 metres to the south of prior drilling. Further drilling is planned in 2021 at this priority exploration target which is one of the most advanced exploration targets on the property without an existing resource.”
This news release reports drill results for 22 RC holes (4,022 m) targeting the Kwakyekrom Gold Target at Enchi, with 21 of the 22 holes intersecting gold mineralization.
Select assay results from the 22 holes of the drill program reported in this release are below:
Table 1 – Enchi Gold Project Drill Highlights
|Hole ID||Zone/Deposit||From (m)||To (m)||Length (m)||Au (g/t)|
Drilling at Kwakyekrom included a series of 11 holes (KKRC050 to KKRC054, KKRC056 to KKRC061C) directed at the down dip extension of the gold mineralization on the central portion of the currently drill tested area. The holes intersected wide zones of mineralization, including high-grade core structures extending the zone down dip. Hole KKRC051 intersected 0.61 g/t Au over 50.0 m from 148 m to 198 m (sulphide zone), including 1.36 g/t Au over 9.0 m from 164 m to 173 m. Hole KKRC056, drilled 100 metres south of KKRC051, intersected an upper intercept of 0.96 g/t Au over 15.0 m from 110 m to 125 m (sulphide zone), including 1.46 g/t Au over 9.0 m from 110 m to 119 m, and a second interval of 0.94 g/t Au over 29.0 m from 160 m to 189 m (sulphide zone), including 2.65 g/t Au over 6.0 m from 170 m to 176 m. Hole KKRC052 targeted the zone 50 metres north of KKRC051 and intersected 1.19 g/t Au over 20.0 m from 112 m to 132 m (sulphide zone), including 2.75 g/t Au over 5.0 m from 113 m to 118 m. The gold mineralized intersects in holes KKRC051 and KKRC056 are the deepest intercepts to date on the central portion of the Kwakyekrom Gold Target, each crossing the main structure approximately 150 metres vertically below surface.
The remaining 11 holes (KKRC044 to KKRC049, KKRC055, and KKRC062 to KKRC065) targeted the southern strike extent of the Kwakyekrom Gold Target. This drilling continues to expand the gold mineralization within the near surface oxide zone and upper portions of the sulphide mineralization. Hole KKRC055 was drilled near the southern edge of the previously drill tested portion of the structure and intersected two gold mineralized zones, 1.21 g/t Au over 4.0 m from 8 m to 12 m (oxide zone) and 0.94 g/t Au over 13.0 m from 108 m to 121 m (sulphide zone). Hole KKRC048 completed 100 metres south of KKRC055, at the southern extent of the previous drilling, intersected two gold mineralized zones, 1.29 g/t Au over 15.0 m from 58 m to 73 m (upper sulphide zone) and 1.86 g/t Au over 11.0 m from 111 m to 122 m (sulphide zone). KKRC046, collared an additional 100 metres south of KKRC048 intersected 0.50 g/t Au over 24.0 m from 55 m to 79 m (upper sulphide zone). KKRC065, located 400 metres south of KKRC048, is the most southernly hole drilled on the target to date and intersected 0.90 g/t Au over 11.0 m from 94 m to 105 m (sulphide zone).
A plan map showing the drill hole locations can be viewed at:
A cross section showing drill results and highlights for hole KKRC051 can be viewed at:
A complete list of the 2020 – 2021 drill results to date, including hole details, can be viewed at:
A total of 43,380 metres in 261 holes have been completed as part of the ongoing 2020 – 2021 drill program at Enchi. For the total planned 66,000 metre drill program, assay results have now been received and released for 202 holes representing 32,867 metres.
The Enchi Gold Project hosts a pit constrained Inferred Mineral Resource of 52.9 million tonnes grading 0.72 g/t Au containing 1.22 million ounces gold (see Newcore news release dated September 14, 2020). The Mineral resource estimation practices are in accordance with CIM Estimation of Mineral Resource and Mineral Reserve Best Practice Guidelines (November 29, 2019), and follow CIM Definition Standards for Mineral Resources and Mineral Reserves (May 10, 2014), that are incorporated by reference into National Instrument 43-101 (“NI 43-101”). The Mineral Resource is detailed in a technical report titled “Enchi Gold Project, Resource Update, Enchi Ghana” with an effective date of October 21, 2020, prepared by Todd McCracken and Greg Smith and filed on SEDAR at www.sedar.com.
The 2021 metallurgical testwork completed to date on the Kwakyekrom Gold Target at Enchi consisted of a series of bottle roll tests completed by Intertek Minerals Limited on 25 representative oxide samples from the ongoing drill program. An average gold recovery of 79.8% was achieved from 24-hour bottle roll tests, with 18 of the 25 samples achieving a recovery greater than 80% and averaging 86.9%.
The 25 samples were selected from RC drilling completed in 2020 and used a total of six individual drill holes covering a strike length of approximately 400 metres. Samples included a range of gold grades (from 0.26 g/t Au to 4.32 g/t Au, with an average of 1.02 g/t Au) and a range of weathering intensities correlating with depth (from 5.0 m to 45.7 m, with an average depth of 22.8 m). The samples were selected from the moderately and highly weathered categories which represent the largest component of the weathered profile at the Project. There was no significant relationship noted between the recovery rate and the sample grade or sample depth.
Further metallurgical testing, including column tests, is ongoing as part of the current work program at Enchi.
Updated PEA Study
Newcore has engaged BBA Engineering Ltd. independent engineering consultants to prepare an updated NI 43-101 Preliminary Economic Assessment (“PEA”) study for the Project. The study is progressing and is in the final stages of completion, with results anticipated by the end of Q2 2021. The updated PEA will incorporate approximately 18,000 metres of drilling completed in 2020.
2020 – 2021 Enchi Drilling Program
A 66,000 metre discovery and resource expansion drilling program is underway at Enchi. The program includes both RC and diamond drilling and will include the first deep drilling planned on the Project. This drill program includes testing extensions of the existing resource areas while also testing a number of high priority exploration targets outside of the Inferred Mineral Resource. Drilling is focused on step out extensions and exploration drilling at the Boin, Sewum, and Nyam Deposits. Additional drilling is planned at previously drilled zones that are outside of the resource area (Kojina Hill, Kwakyekrom and Eradi), along with first pass drilling to test a series of kilometre-scale gold-in-soil anomalous zones with no prior drilling (Nkwanta, Sewum South and other anomalies). All zones represent high priority targets based on geological, geochemical and geophysical surface work and previous trenching and drilling.
Kwakyekrom Gold Target
The Kwakyekrom Gold Target had seen limited past drilling and does not currently have a defined mineral resource. Kwakyekrom is one of the most advanced exploration targets being tested by Newcore as part of the 2020 – 2021 drill program, with 7,666 metres of drilling in 49 RC holes completed to date as part of the ongoing 66,000 metre drill program. Kwakyekrom is located 15 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. The Kwakyekrom structure is interpreted to be an extension of the Nyam structure and is located five kilometres south of Nyam. The zone is outlined on surface by a four-kilometre-long and one-to-two-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Kwakyekrom Gold Target is a sharp break in the conductivity trend.
Drill Hole Locations
Table 2 – Enchi Gold Project Drill Hole Location Details
|Hole ID||UTM East||UTM North||Elevation||Azimuth °||Dip °||Length (m)|
Newcore’s first priority is the health and safety of all employees, contractors, and local communities. The Company is following all Ghana guidelines and requirements related to COVID-19. The Company has implemented COVID-19 protocols for its ongoing drill program consisting of the mandatory use of personal protective equipment (including facemask for all employees), maintaining social distancing, frequent hand washing, and daily temperature checks at the start of each shift.
Newcore Gold Best Practice
Newcore is committed to best practice standards for all exploration, sampling and drilling activities. Drilling was completed by an independent drilling firm using industry standard RC and Diamond Drill equipment. Analytical quality assurance and quality control procedures include the systematic insertion of blanks, standards and duplicates into the sample strings. Samples are placed in sealed bags and shipped directly to Intertek Labs located in Tarkwa, Ghana for 50 gram gold fire assay.
Mr. Gregory Smith, P. Geo, Vice President of Exploration of Newcore, is a Qualified Person as defined by NI 43-101, and has reviewed and approved the technical data and information contained in this news release. Mr. Smith has verified the technical and scientific data disclosed herein and has conducted appropriate verification on the underlying data including confirmation of the drillhole data files against the original drillhole logs and assay certificates.
About Newcore Gold Ltd.
Newcore Gold is advancing its Enchi Gold project located in Ghana, Africa’s largest gold producer 1. The Project currently hosts an Inferred Mineral Resource of 1.2 million ounces of gold at 0.72 g/t 2. Newcore Gold offers investors a unique combination of top-tier leadership, who are aligned with shareholders through their 32% equity ownership, and prime district scale exploration opportunities. Enchi’s 216 km2 land package covers 40 kilometres of Ghana’s prolific Bibiani Shear Zone, a gold belt which hosts several 5 million-ounce gold deposits, including Kinross’ Chirano mine 50 kilometers to the north. Newcore’s vision is to build a responsive, creative and powerful gold enterprise that maximizes returns for shareholders.
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