Newcore Gold Ltd. (TSX-V: NCAU) (OTCQX: NCAUF) is pleased to announce additional drill results from the 90,000 metre drill program underway at the Company’s 100% owned Enchi Gold Project in Ghana. Drilling at the Nyam Gold Deposit at Enchi has intersected high-grade, oxide gold mineralization grading 2.04 grams per tonne gold over 35.0 metres from surface, including 4.89 g/t Au over 8.0 m from 8 m. Drilling at Nyam continues to encounter higher-grade gold mineralization from surface, with wide zones encountered in both the oxide and sulphide mineralization. These results also tested the southern extension at Nyam, increasing the drill tested strike extent at Nyam to three kilometres.
Highlights from Drilling at Nyam
Luke Alexander, President and CEO of Newcore stated, “Drilling at Nyam continues to deliver strong results, demonstrating the potential for resource growth across our Enchi Gold Project. We have increased the strike extent of drilled mineralization at Nyam with mineralization now intersected along more than three kilometres of strike length, remaining open along strike and at depth. We also continue to encounter shallow, higher-grade gold mineralization at Nyam with drilling intersecting wide zones of mineralization in both the oxides and sulphides. Given the success we have achieved to date with drilling at Nyam, we will continue to test the potential to grow the shallow oxide resource at this deposit while testing the potential for higher-grade mineralization at depth.”
This news release reports results for 34 Reverse Circulation (“RC”) holes totalling 5,245 m (NBRC056 to NBRC089) targeting the Nyam Gold Deposit, with 30 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)|
|1. See detailed table for complete results|
|2. Intervals reported are hole lengths with true width estimated to be 75 – 85%|
|3. Length-weighted averages from uncut assays|
A plan map showing the drill hole locations can be viewed at:
A cross section showing drill results and highlights for hole NBRC075 can be viewed at:
A complete list of the 2020 – 2021 drill results to date, including hole details, can be viewed at:
Drilling on the southern portion of the Nyam Gold Deposit has encountered multiple zones of gold mineralization including wide zones near surface and high-grade cores. Hole NBRC075 intersected a near surface oxidized mineralized structure grading 2.04 g/t Au over 35.0 m from surface, including 4.89 g/t Au over 8.0 m from 8 m. Hole NBRC073 collared 50 metres south of NBRC075 intersected a wide gold mineralized structure grading 0.78 g/t Au over 57.0 m from 74 m (sulphide zone), including 1.34 g/t Au over 9.0 m from 94 m. Hole NBRC076 collared 75 metres north of NBRC075 intersected a wide, near surface and oxidized transitioning to sulphide, gold mineralized zone grading 0.85 g/t Au over 50.0 m from 1 m, including 1.18 g/t Au over 13.0 m from 1 m and 2.10 g/t Au over 8.0 m from 31 m.
Hole NBRC078 collared 175 metres north of NBRC075 intersected a wide gold mineralized structure grading 0.53 g/t Au over 79.0 m from 36 m (sulphide zone). Hole NBRC077 collared 150 metres north of NBRC075 intersected gold mineralization grading 1.13 g/t Au over 29.0 m from 69 m (sulphide zone). Hole NBRC067 collared 300 metres south of NBRC075 intersected gold mineralization grading 0.54 g/t Au over 37.0 m from 147 m (sulphide zone) and 1.69 g/t Au over 5.0 m from 159 m (sulphide zone).
Drilling on the central portion of Nyam encountered multiple zones of gold mineralization, including higher-grade structures. Hole NBRC087 intersected a high-grade gold mineralized structure grading 2.14 g/t Au over 19.0 m from 84 m (sulphide zone), including 4.14 g/t Au over 2.0 m from 92 m. Hole NBRC088 collared 50 metres south of NBRC087 intersected a wide gold mineralized structure grading 0.88 g/t Au over 28.0 m from 57 m (sulphide zone), including 5.09 g/t Au over 2.0 m from 80 m. Hole NBRC086 drilled on the same section as NBRC087 tested the up-dip, near surface, oxidized portion of the gold zone and intersected 1.24 g/t Au over 19.0 m from 17 m. Hole NBRC085 drilled on the same section as NBRC088 also tested the up-dip, near surface, oxidized mineralization and intersected 1.26 g/t Au over 18.0 m from surface, including 6.46 g/t Au over 2.0 m from 11 m. Additional new intersections tested the down dip portion of the zone in the sulphides, including hole NBRC082 that intersected 1.18 g/t Au over 15.0 m from 93 m and hole NBRC081 that intersected 1.68 g/t Au over 10.0 m from 120 m.
A series of holes were also completed testing the southern extension of the structure 800 metres to the south. Step out holes to the south have extended the drill tested portion of the Nyam structure to three kilometres. Hole NBRC066 drilled 800 metres south of the existing pit constrained resource intersected 0.52 g/t Au over 15.0 m from 89 m (sulphide zone). Additional results from this step out drilling included hole NBRC059B which intersected 1.60 g/t Au over 10.0 m from 97 m (sulphide zone) and hole NBRC058 which intersected 1.11 g/t Au over 2.0 m from 17 m (oxide zone).
For the total planned 90,000 metre drill program, assay results have now been received and released for 350 holes representing 59,559 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 90,000 metre discovery and resource expansion drilling program is underway at Enchi. The program includes both RC and diamond drilling and will include the first deeper 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.
Nyam Gold Zone
The Nyam Gold Deposit is one of the four deposits which comprise the pit constrained Inferred Mineral Resource Estimate at Enchi (4.9 million tonnes grading 0.82 g/t Au containing 129,000 ounces). Nyam 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. An airborne geophysical anomaly coincident with the Nyam Gold Deposit shows a complex series of linear high conductivity trends, reflective of the multiple sub-parallel gold-bearing structures. As part of the 2020 – 2021 drill program, a total of 83 holes totalling 12,649 metres have been completed at Nyam.
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 27% 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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