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 Boin Gold Deposit at Enchi has intersected the highest-grade interval to date of 95.16 grams per tonne gold over 2.0 metres from 109 m in RC hole KBRC250. Drilling also continues to encounter wide zones of mineralization, with results intersecting 1.28 g/t Au over 74.0 m from 121 m in diamond hole KBDD064.
Highlights from Drilling at Boin
Luke Alexander, President and CEO of Newcore stated, “The ongoing 66,000 metre drill program continues to deliver strong results, with this set of results encountering the highest-grade gold intercept to date at Enchi with 95.16 g/t Au over 2.0 m from 109 m in shallow sulphide mineralization. These results complement other higher-grade gold mineralization discovered on the Project, with wide zones of gold mineralization encountered that also include a series of higher-grade gold structures. Drilling at Boin continues to highlight the open-ended nature of the deposit, as well as the potential for higher grade sulphide mineralization at depth, which is consistent with our geological model. 90% of the holes drilled to date as part of the current drill program have encountered gold mineralization, with approximately 46,000 metres of the drill program yet to be incorporated into the current 1.41 million ounce Inferred Mineral Resource Estimate, underscoring the resource growth potential across the district scale property.”
Greg Smith, Vice President of Exploration of Newcore stated, “These results from drilling at Boin highlight the potential for continued resource expansion. The deposit is open along strike with the southern results confirming that strong gold mineralization exists for more than one kilometre south of the currently defined Inferred Mineral Resource Estimate. The high-grade gold intervals intersected include zones interpreted to be related to the intersection of structures and additionally define a series of sub-parallel structures that include wide mineralized zones with higher-grade core structures.”
This news release reports results for 26 Reverse Circulation holes (3,928 m) (KBRC245 to KBRC270) and 8 Diamond Drill holes (2,530 m) (KBDD061A to KBDD067) targeting the Boin Gold Deposit at Enchi, with 32 of the 34 holes intersecting gold mineralization.
Select assay results from the 34 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)|
Plan maps showing the drill hole locations can be viewed at:
Cross sections showing drill results and highlights for holes KBRC250 and KBDD064 can be viewed at:
A complete list of the 2020 – 2021 drill results to date, including hole details, can be viewed at:
An interactive 3D-model of the Enchi Gold Project is also available on the Company’s website.
Drilling on the northern portion of the Boin Gold Deposit included eight RC holes totalling 1,299 metres (KBRC245 to KBRC252) and one diamond drill hole of 330 metres (KBDD065), directed at further defining and extending the gold mineralization. The highest-grade interval encountered to date on the Enchi Gold Project was drilled in this area of Boin, with RC hole KBRC250 intersecting 95.16 g/t Au over 2.0 m from 109 m, with a second structure of 13.22 g/t Au over 1.0 m from 120 m (sulphide zone). The interval also encountered additional gold mineralization, intersecting 0.93 g/t Au over 5.0 metres from 111 m. True widths are unknown but are estimated to be 75 – 85% of the drill length. The high-grade zones consist of altered phyllite with quartz veins and disseminated sulphides and are interpreted to be associated with the intersection of cross structures and the main Boin mineralized trend.
Drilling on the central portion of Boin included five diamond drill holes totalling 2,629 metres (KBDD063A, KBRD063, KBDD064, KBDD066, KBDD067) and one RC hole KBRC253 of 114 metres. The holes were completed along a one-kilometre portion of the structure, directed at extending the gold mineralization up and down dip. Four of the five holes intersected mineralization characterized by wide gold mineralized zones with a series of higher-grade core structures. Hole KBDD064 intersected 1.28 g/t Au over 74.0 m from 121 m (sulphide zone), including a series of higher-grade structures: 2.65 g/t Au over 6.4 m from 122 m, 9.93 g/t Au over 1.4 m from 136 m, 2.24 g/t Au over 6.1 m from 149.3 m, 4.04 g/t Au over 6.4 m from 170.6 m, and 2.41 g/t Au over 4.0 m from 189 m. Hole KBDD066, collared 800 metres to the south of KBDD064, intersected 1.08 g/t Au over 25.0 m from 222 m (sulphide zone), including 4.31 g/t Au over 2.0 m from 222 m and 2.06 g/t Au over 4.6 m from 232.9 m. This hole encountered a second interval of mineralization, intersecting 0.63 g/t Au over 21.6 m from 257.4 m (sulphide zone), including 2.04 g/t Au over 1.8 m from 259 m and 1.84 g/t Au over 3.0 m from 267 m. KBRD063, 200 metres north of KBDD066, returned 2.72 g/t Au over 2.1 m from 252.3 m (sulphide zone). Drill hole KBRC253 tested an up-dip portion of the structure and returned two mineralized intercepts in the oxide zone of 0.33 g/t Au over 2.0 m from 17 m and 0.99 g/t Au over 7.0 m from 24 m.
Drilling on the southern portion of Boin included 17 RC holes totalling 2,515 metres (KBRC254 to KBRC270) and two diamond drill holes totalling 682 metres (KBDD061A, KBDD062), directed at further defining and extending the gold mineralization approximately 200 to 800 metres south of the existing mineral resource. Drilling continues to intersect multiple wide zones of gold mineralization. Hole KBRC264 intersected three gold mineralized zones: 0.51 g/t Au over 53.0 m from 177 m (sulphide zone) including 1.17 g/t Au over 9.0 m from 187 m, 0.39 g/t Au over 30.0 m from 72 m (mixed oxide and upper sulphide zone), and 0.50 g/t Au over 9.0 m from 33 m (oxide zone). Hole KBRC268 intersected two principal gold mineralized zones with results including 0.79 g/t Au over 25.0 m from 60 m (upper sulphide zone) and 0.54 g/t Au over 13.0 m from 108 m (sulphide zone). Hole KBRC257 intersected 0.50 g/t Au over 29.0 m from 52 m (sulphide zone) and a second zone of 0.45 g/t Au over 13.0 m from 188 m. KBRC265 intersected a series of near surface mineralized zones within the oxide horizon, including 0.88 g/t Au over 1.0 m from 23 m, 0.36 g/t Au over 4.0 m from 44 m, and 1.55 g/t Au over 9.0 m from 69 m including 4.75 g/t Au over 2.0 m from 70 m.
A total of 58,861 metres in 332 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 280 holes representing 45,085 metres.
Enchi Gold Project Mineral Resource Estimate
The Enchi Gold Project hosts a pit constrained Inferred Mineral Resource of 70.4 million tonnes grading 0.62 g/t Au containing 1.41 million ounces gold (see Newcore news release dated June 8, 2021). 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 Estimate was prepared by independent qualified person Todd McCracken, P. Geo. of BBA E&C Inc. The technical report, titled “Preliminary Economic Assessment for the Enchi Gold Project, Enchi, Ghana” has an effective date of June 8, 2021 and is available under the Company’s profile on SEDAR at www.sedar.com.
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 Sewum, Boin, Nyam and Kwakyekrom Deposits. Additional drilling is planned at previously drilled zones that are outside of the resource area (Kojina Hill 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.
Boin Gold Zone
The Boin Gold Deposit is one of the primary deposits which comprises the pit constrained Inferred Mineral Resource Estimate at Enchi. Boin is located 10 kilometres south of the town of Enchi, with nearby roads and power and further access provided by a series of drill roads. Boin is outlined on surface by a greater than six-kilometre-long by up to one-kilometre-wide gold in soil anomaly. An airborne geophysical anomaly coincident with the Boin structure extends for a further two kilometres north and four kilometres south beyond the limits of current drilling. To date, approximately 50% of the gold-in-soil anomaly is untested by drilling. As part of the current drill program a total of 157 holes totalling 25,648 metres have been completed at Boin.
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 facemasks 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 1.41 million ounces of gold at 0.62 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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