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Newcore’s Enchi project shows promising growth

Newcore Gold‘s Enchi Gold Project in Ghana is showing strong results from a 35,000-metre drill programme. The results from the Sewum Gold Deposit, the largest deposit at Enchi, indicate positive near-surface mineralisation continuity and strong potential for future resource growth.

Highlights from Drilling at the Sewum Gold Deposit at Enchi

• Drilling at the Checkerboard Hill area encountered multiple wide zones of gold mineralization near-surface within both the oxide and upper sulphide horizon.

• • SWRC213 intersected two gold mineralised structures: 0.70 g/t Au over 20.0 m from 12 m in the oxide zone, and a second interval of 0.73 g/t Au over 68.0 m from 62 m in the transition/upper sulphide zone.
  • SWRC208 intersected multiple gold mineralised structures in the oxide zone including 0.57 g/t Au over 17.0 m from surface, with a second interval of 1.39 g/t Au over 24.0 m from 22 m with a higher-grade interval of 6.56 g/t Au over 4.0 m from 26 m.
• Drilling at the Sewum Extension area intersected wide zones of gold mineralization near surface, with higher-grade intervals.

• • SWRC223 intersected 0.74 g/t Au over 49.0 m from 18 m, including a higher-grade interval of 1.57 g/t over 11.0 m from 42.0 m in the oxide/transition horizon.
  • SWRC222 intersected 0.59 g/t Au over 38.0 m from surface, including a higher-grade interval of 1.94 g/t over 7.0 m from 4.0 m in the oxide horizon.
• Drilling completed at the Extension Parallel Structure area continues to highlight the potential for resource growth at Enchi.
  • SWRC224 intersected 1.24 g/t Au over 20.0 m from 69 m within the oxide/transition material, outside the limits of the pit that constrains the Mineral Resource Estimate.

Luke Alexander, President and CEO of Newcore stated, “As the drill programme continues to deliver strong results, we are thrilled to be fully funded to continue to deliver value through the drill bit, with drilling focused on resource growth and conversion, and high-priority exploration targets, while concurrently continuing to advance the development of the project with commissioning of a pre-feasibility study later this year.”

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The drill programme at Enchi is focused on resource growth and infill drilling designed to convert inferred resources to indicated. The goal of the first phase is to complete the drilling required for resource conversion in advance of commissioning the pre-feasibility study. The second phase will focus on discovery and resource growth, including drilling aimed at earlier-stage exploration targets along with drilling focused on defining the resource growth potential at depth.