お知らせ • Mar 18
Newcore Gold Ltd Announces Updated Mineral Resource Estimate for Enchi Gold Project
Newcore Gold Ltd. announced the results of an updated, independent, Mineral Resource Estimate prepared in accordance with National Instrument 43-101 Standards of Disclosure for Mineral Projects for the Company’s Enchi Gold Project in Ghana. The Resource expanded the Indicated Mineral Resource at Enchi to 83,615,000 tonnes at an average grade of 0.56 grams per tonne gold containing 1,502,000 ounces gold, along with an Inferred Mineral Resource of 40,111,000 tonnes at an average grade of 0.49 grams per tonne gold containing 626,000 ounces gold. The Resource is reported using a constraining resource pit at a gold price of USD 3,200 per ounce and has an effective date of October 6, 2025. Since October 2025, an additional 10,619 metres of drilling has been completed on the Project which is not included in the Resource. The Indicated Mineral Resource will form the basis for the Pre-Feasibility Study which is underway and targeted for completion by the end of June 2026. The Indicated Mineral Resource of 1,502,000 ounces of gold at an average grade of 0.56 grams per tonne gold within 83,615,000 tonnes, more than double the last Indicated Resource for the Project published in 2023. Incorporated only 28,000 metres of the drilling completed in 2024 and 2025 as part of the on-going 60,000 metre drill program. Indicated Mineral Resource to form basis for the Pre-Feasibility Study which is targeted for completion by the end of June 2026. Inferred Mineral Resource of 626,000 ounces of gold at an average grade of 0.49 grams per tonne gold within 40,111,000 tonnes. Resource includes four pit-constrained deposits (Sewum, Boin, Nyam, Kwakyekrom), with all deposits open along strike and at depth with potential resource growth in shallow oxide and transition mineralization, as well as within the deeper fresh mineralization. Average depth of resource pits is only 85 metres, with most drilling to date only testing shallow mineralization down to an average depth of 125 metres, and limited drilling completed to a depth of 200 to 350 metres. Future resource growth potential exists across the district scale land package at Enchi, with more than 25 targets identified across the 248 km2 property. A 60,000 metre drill program is underway at Enchi, targeting the high-grade potential at depth. Current drilling is focused on demonstrating and defining the opportunity for resource expansion in the high-grade shoots within fresh mineralization to depth. Drilling reported in January 2026 successfully extended gold mineralization to depth and intersected high-grade at the Boin Gold Deposit, with results including: 3.54 grams per tonne gold over 23.0 metres from 253 metres, with a higher-grade interval of 6.92 grams per tonne gold over 8.0 metres from 256 metres (KBDD097); 3.22 grams per tonne gold over 17.0 metres from 327 metres, with a second interval of 1.70 grams per tonne gold over 25.5 metres from 285 metres (KBDD102); 173.75 grams per tonne gold over 1.0 metre from 264 metres (true width unknown) (KBDD098); and 147.50 grams per tonne gold over 1.0 metre from 310 metres (true width unknown) (KBDD100), including the first visible gold encountered by drilling at Enchi. The Resource builds on the prior Mineral Resource Estimate that was completed and released in 2023 and incorporates approximately 28,000 metres of infill Reverse Circulation drilling along with 3,450 metres of diamond drilling completed for metallurgical, geotechnical and hydrogeological purposes in 2024 and 2025. The resource models used ordinary kriging grade estimation within a three-dimensional block model with mineralized zones defined by wireframed solids and constrained by pit shells for Sewum, Boin, Nyam and Kwakyekrom. Validations were completed using Inverse Distance squared for Sewum and Nearest Neighbour for Boin, Nyam and Kwakyekrom. Open pit cut-off grades varied from 0.1 to 0.2 grams per tonne gold based on mining and processing costs as well as the recoveries in different weathered material. A USD 3,200 per ounce gold price was used to determine the cut-off grade. Metallurgical recovery of 85% was applied to oxide and transition mineralization for heap leach recovery, and 91.7% for fresh mineralization using carbon-in-leach recovery. The pit optimization considered the following costs: mining cost based on mineralization type of USD 1.97 per tonne for oxide, USD 2.62 per tonne for transition, and USD 3.15 per tonne for fresh; waste mining costs of USD 1.64 per tonne for oxide, USD 2.34 per tonne for transition, and USD 2.87 per tonne for fresh; processing and G&A costs assumed of USD 8.74 per tonne for oxide, USD 8.49 per tonne for transition, and USD 19.29 per tonne for fresh. Average densities of mineralized material varied between 1.53 and 2.15 grams per cubic centimetre for oxide, 1.86 and 2.38 grams per cubic centimetre for transition, and 2.48 and 2.74 grams per cubic centimetre for fresh rock. Average densities of waste rock varied between 1.45 and 1.77 grams per cubic centimetre for oxide, 1.81 and 2.15 grams per cubic centimetre for transition, and 2.45 and 2.74 grams per cubic centimetre for fresh rock. Optimization pit slope angles varied by deposit and mineralized area, with an overall strip ratio including all pits of 3.35. Mineral Resources that are not mineral reserves do not have economic viability. The resource estimate was prepared by Ryan Wilson, P. Geo, Matthew Halliday, P. Geo, Schadrac Ibrango, P. Geo of DRA Global Limited in accordance with National Instrument 43-101. DRA evaluated the Resource at a series of cut-off grades by using a range of gold prices for the whittle pits. The weathering profile varies by area at Enchi, with depth of oxide mineralization on average 20 to 40 metres but reaching up to 100 metres in some areas. Most drilling to date has focused on the first 150 vertical metres of mineralization across the Project. The updated Mineral Resource Estimate was prepared by independent qualified persons Ryan Wilson, P. Geo., Matthew Halliday, P. Geo., and Schadrac Ibrango, P. Geo of DRA Global Limited. Mineral resources are not mineral reserves and do not have demonstrated economic viability. There is no certainty that any mineral resource will be converted into a mineral reserve. The resource estimate is based on the combination of geological modeling, geostatistics and conventional block modeling using the Ordinary Kriging methodology of grade interpolation for Sewum, Boin, Nyam, and Kwakyekrom. The 60,000 metre drill program underway at Enchi commenced August 2024, targeting near-surface oxide and transition mineralization along with shallow fresh mineralization.